Monday Evening Business Brief
July 21, 2014, 5:04 PM
- Mounting political turmoil in Ukraine and the Mideast, along with a mixed batch of corporate earnings, had an impact on trading on Wall Street today, as the market opened the new week with a slight loss. The Dow Jones industrial average fell 48.45 points, or 0.3 percent, while the Nasdaq composite lost 7.44 points, or 0.2 percent.
- Netflix's second-quarter earnings more than doubled as new episodes from one of its hit series helped the Internet video service surpass 50 million worldwide subscribers for the first time. The gains announced today include an additional 570,000 U.S. subscribers, slightly more than Netflix's management predicted. The quarter is typically the company's slowest of the year, as people spend more time outdoors instead of watching video.
- Yahoo says it will buy Flurry Inc., which helps other companies make apps and design mobile ad campaigns. Yahoo did not disclose how much it will pay for the San Francisco company, which also helps companies analyze the effectiveness of their advertising.
- Campbell Soup Co., is turning to organic varieties that come in rectangular cartons to help boost struggling sales. Campbell, based in Camden, New Jersey, said today it will roll out its first organic ready-to-eat soups under the Campbell brand in January, when soup sales typically tend to rise as temperatures drop. It's one of many moves the 145-year-old company is planning in hopes of driving sales in its flagship unit.
- Officials in suburban Prince George's County, Maryland, today approved a building plan for a $925 million MGM Resorts International casino and hotel near the nation's capital on an 8-1 vote. The move paves the way for MGM to get the permits needed to begin construction at National Harbor. It hopes to open the casino as early as July 2016.
© 2014 Associated Press. All rights reserved. Material may not be redistributed.