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Tuesday Evening Business Brief

February 19, 2013, 6:26 PM

Tuesday Evening Business Brief
  • The Dow closed within reach of its all-time high, rising 54 points to end the day at 14,036. The S&P 500 rose 11 points to 1,531 and the Nasdaq composite went up 22 points to 3,214. Talk of more deal-making sent stock prices higher, setting the market up to continue a seven-week rally. Oil rose slightly, climbing 80 cents to finish at over $96 a barrel.
  • A state-appointed review team has determined that Detroit is in a financial emergency. The decision made means that Michigan Gov. Rick Snyder could appoint an emergency manager to oversee the city's finances. The team found that "no satisfactory plan exists to resolve a serious financial problem" in the city.
  • Apple says a small number of Mac computers at its offices were infected by malicious software, in an attack similar to the one Facebook acknowledged last week. In both cases, computers were infected through software downloaded from a site for software developers. The attacks took advantage of flaws in the Java plug-in for Web browsers.
  • Google's stock has broken the $800 barrier for the first time. The company saw its stock climb $13.96 or 1.8 percent to close today at $806.85. The jump comes amid renewed confidence in the company's ability to reap steadily higher profits from its dominance of Internet search and prominence in the increasingly important mobile device market.
  • Marriott International Inc. turned a better-than-expected profit in its fourth quarter driven by an increased number of rooms in the hotel company's portfolio and higher occupancy and room rates. The Bethesda, Md.-based company says it earned $181 million, or 56 cents per share, in the three-month period that ended Dec. 28. That's up from $141 million, or 41 cents per share, a year ago.

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