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Monday Evening Business Brief

December 30, 2013, 5:33 PM

Monday Evening Business Brief
  • The stock market ended a quiet day mostly where it began as investors shut their books for what has been an extraordinary year on Wall Street. Traders had little corporate or economic news to work through. The bond market was quiet as well. The yield on the benchmark 10-year Treasury note continued to hover near 3 percent.
  • The price of oil retreated slightly in thin trading to close below $100. Benchmark U.S. crude for February delivery ended the day down $1.03, closing at $99.29 on the New York Mercantile Exchange.  On Friday, oil had closed above $100 for the first time since Oct. 18 on prospects of a U.S. economic recovery.
  • Netflix says it's ending a move meant to help ward off hostile takeovers almost two years early. The online video company adopted the shareholder rights plan, also known as a poison pill, in November 2012 after activist investor Carl Icahn disclosed a stake of almost 10 percent in the company.
  • Cracker Barrel says it won't consider selling itself, rejecting a push from its biggest shareholder. The company says it will continue pursuing its own business strategies. Last week shareholder Sardar Biglari said he was willing to make a bid for the company and urged it to consider selling itself.
  • Ford says 2013 North American sales of cars and trucks bearing its namesake brand will top 2.4 million, making Ford again the top-selling U.S. brand over Toyota. The automaker says it will sell more than 600,000 passenger cars this year, the most since 2000, with the strongest demand coming from the West and Southeast.

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