User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


76° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

News

[0] My Saved Articles
Back to all news

Business

Find local businesses
on the KELO Pages!

 

Tuesday Afternoon Business Brief

January 28, 2014, 2:08 PM

Tuesday Afternoon Business Brief

Stocks are mostly higher for the first time in four days. In afternoon trading, the Dow was up about 90 points, while the S&P 500 had added ten, and the Nasdaq was up a little more than 6 points. Tech stocks have been held back by Apple, after its latest financial results fell short of expectations.

  • Apple's stock has taken a tumble today. Last night the company reported that it sold more iPhones and iPads than ever in the first quarter than in any prior quarter, but investors were expecting even bigger things. Apple also announced a second-quarter revenue forecast of $43 billion, which also was below Wall Street's estimate. Apple shares have been down as much as 8 percent today. But the downbeat view isn't unanimous. Carl Icahn took advantage of the price drop, tweeting that he'd purchased another $500 million worth of Apple shares.
  • Pfizer shares are up today after its fourth-quarter financial report beat Wall Street's expectations for revenue and adjusted earnings. The drugmaker reports $13.56 billion in revenue and 56 cents in earnings per share. However, competition from generic drugs continues to erode sales, and Pfizer's profit fell 59 percent.
  • Central banks in emerging economies have been moving fast to contain the damage from a bout of market turmoil. The People's Bank of China injected more money into the country's financial markets today to ease strained credit conditions. India's central bank unexpectedly raised interest rates to prop up its ailing currency. And Turkey's central bank is signaling that it is preparing to raise interest rates to address higher inflation and a dropping currency.
  • Martin Marietta Materials is buying Texas Industries. The all-stock deal is worth more than $2 billion. Martin Marietta says the combined company will be a leading supplier of aggregates and heavy building materials. Martin Marietta sells granite, limestone, sand and gravel, while Texas Industries makes cement and building materials. Together, they have more than 400 quarries, mines, distribution yards, and plants in 36 states, Canada, the Bahamas and the Caribbean Islands.  Its shares were up more than 4 percent in afternoon trading.

Previous Story

Next Story




 
Find Local Businesses on KELO Pages!

View business

You may also like

Two KELOLAND Target Stores Now Open Extended Hours

8/19/2014 12:16 PM

Night owls who enjoy shopping at Target will soon have a few more hours to browse the shelves.

Full Story
Raven Balloons In Demand By Google

8/20/2014 9:10 AM

Raven Industries reports that sales for the second quarter are up to $94.5 million from $93.4 million the same time last year, due in part to Google&#...

Full Story
Sioux Falls Store Included In UPS Breach

8/21/2014 1:53 PM

If you used a credit or debit card at a UPS Store in the last seven months, some of your personal information could be a risk.  

Full Story
Woman-Owned Highway Construction Company

8/21/2014 10:05 PM

There are nearly eight million women owned businesses in the U.S.  But only eight percent of construction businesses are owned by women. 

Full Story | Watch
New CEO Of Idled Aberdeen Beef Plant Optimistic

8/17/2014 3:45 PM

The new CEO of a beef plant that has sat idle in Aberdeen since 2012 is optimistic about the facility's future.

Full Story


Events