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Friday Midday Business Brief

September 7, 2012, 9:45 AM

Friday Midday Business Brief
  • Stocks are little changed on Wall Street following news that the U.S. economy added fewer jobs than expected in August. The Dow Jones industrial average has moved a point or two higher and lower during the first hour of trading, while the S-and-P 500 gained a few points and the Nasdaq was virtually flat.
  • U.S. employers added 96,000 jobs last month, a weak figure that could slow the momentum President Barack Obama hoped to gain from his speech last night to the Democratic National Convention. The unemployment rate fell to 8.1 percent from 8.3 percent in July, but mostly because more people gave up looking for jobs and weren't counted.
  • Intel is cutting its third-quarter revenue forecast due to softer-than-expected demand for its chips amid difficult economic conditions. Intel chips go into about 80 percent of personal computers and into a vast number of servers as well, making it a bellwether for spending on computers.
  • The Kroger Co. has reported second-quarter profits that beat Wall Street expectations. The nation's largest traditional grocery store chain says its loyalty program helped lift a key sales figure. The company also raised its outlook for the year.
  • Coca-Cola's newest drink won't come in a bottle or a can. And people will only need a squirt or two to quench their thirst. The world's largest beverage company is introducing its Dasani Drops in coming weeks, which can be squeezed into water for some on-the-spot fruity flavor. And Coca-Cola is betting that there's big potential for growth.

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