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Tuesday Evening Business Brief

August 7, 2012, 5:34 PM

Tuesday Evening Business Brief
  • A good day for the stock market propelled two of the key averages over milestones. The S&P gained 7 points to finish above 1,400 for the first time in three months. The Nasdaq was up 26 points to 3,016. The Dow rose 51, or 0.4 percent, to 13,169.
  • The Walt Disney Co.'s profit for the third-quarter topped analyst estimates while revenue was short despite a surge in profit from "The Avengers." Disney shares headed lower in after-hours trading immediately after the news was announced.
  • With a big refinery in California closed by fire, the price of oil surged above $94 a barrel.  The price of gasoline on the West Coast is expected to get hit, as a result.
  • Dodge is parking its involvement with NASCAR competition at the end of the 2012 season. The decision affects Dodge's involvement in both the Sprint Cup Series and the Nationwide Series.
  • Updated renderings of 1 World Trade Center show recent design changes to the base and spire of the building, formerly known as the Freedom Tower. The Port Authority of New York and New Jersey owns the World Trade Center site and released the images today.

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