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May 07, 2013 05:39 PM

Tuesday Evening Business Brief

The Dow has punched through another milestone, closing above 15,000 for the first time ever. The bluechip index rose 87 points to 15,056.20, a gain of 0.6 percent. The Dow is up 15 percent for the year. The S&P 500 added eight points to 1,625.96, also a record close. The Nasdaq was up four to 3,396.63.

  • Subaru plans to expand its Indiana factory and add hundreds of workers. A person briefed on the matter says Subaru plans to build the Impreza there starting in 2016. The person spoke on the condition of anonymity because a formal announcement is scheduled for Wednesday in Japan. The exact number of new jobs isn't known yet.
  • Disney has topped analyst expectations with its latest quarterly financial results. Revenue gains at Disney's parks and movie studio led to a 32 percent increase in net income to more than $1.5 billion, or 83 cents per share, during the January-March quarter. Other companies reporting results after the bell include J.C. Penney and Mondelez. The maker of Oreo cookies, Cadbury and Trident met expectations, while J.C. Penney again saw its revenue fall more than analysts expected.
  • Federal land managers are postponing all oil and gas lease auctions in California until October. The Bureau of Land Management cites budget problems, low staffing, and the toll of environmental litigation. A federal judge ruled last month that BLM had violated a key environmental law when the agency auctioned the drilling rights for parcels near the Salinas River Valley before performing a sweeping review of the impacts on water, wildlife and air quality.
  • Warren Buffett is offering career advice to young workers. The billionaire investor says young people should find jobs they are passionate about and work for people they admire. Buffett responded to questions sent to the Levo League website, which helps young professionals find mentors and job opportunities.
  • Business
  • Economy/Stocks
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