Friday Afternoon Business Brief
June 13, 2014, 2:09 PM
- The stock market is higher in afternoon trading. Technology companies are seeing the biggest gains after Intel raised its revenue forecast last night, saying sales of business computers have been stronger than expected. The S&P 500, the Dow and the Nasdaq composite are all seeing small gains, but not enough to offset the losses of the past few days.
- Shares of OpenTable have soared today after Priceline agreed to buy the online restaurant reservation company for $2.6 billion. Priceline is paying $103 per share, which is a 46 percent premium to OpenTable's closing price yesterday. Shares are trading above $103 today. Meanwhile, Priceline is down about 2 percent.
- Air traffic controllers are still working schedules known as "rattlers" that make it likely they'll get little or no sleep before overnight shifts. A National Research Council report also says budget cuts have hampered the Federal Aviation Administration's program to prevent its 15,000 controllers from suffering fatigue. The report comes more than three years after a series of incidents involving controllers sleeping on the job.
- The Federal Communications Commission is setting out to unravel what's behind the Internet traffic jams that bog down Netflix videos and other online content. FCC Chairman Tom Wheeler says the inquiry will dissect the routes that video and other data travel to reach Internet service providers. Netflix and others have accused Comcast and Verizon of deliberately slowing traffic from websites unwilling to pay for a less congested entry point. Comcast and Verizon say Netflix should bear some of the cost for handling the heavy traffic caused by its popular video service.
- Federal health officials are warning of a salmonella link to chia powder. The Centers for Disease Control and Prevention says the powder has been linked to illnesses in 12 states. People often add chia powder to smoothies and other foods for its health benefits. Recalled brands include Organic Traditions, Green Smoothie Girl, Navitas Naturals and Williams-Sonoma.
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