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.


34° 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!

 

Wednesday Afternoon Business Brief

June 25, 2014, 1:31 PM

Wednesday Afternoon Business Brief

NEW YORK (AP) - Stocks are edging higher this morning, as investors shrug off a pair of weak economic reports, showing the U.S. economy shrank more than expected in the first quarter and durable goods orders were down again last month. The Dow, the S&P 500 and the Nasdaq composite are all in positive territory, but just barely.

  • The government has revised its estimate of how much the U.S. economy shrank in the first quarter. The Commerce Department says the economy contracted at an annual rate of 2.9 percent from January through March, largely the result of the harsh winter. While that's the biggest contraction since the depths of the recession five years ago, most economists see the setback as temporary, with growth rebounding solidly since spring.
     
  • Durable goods orders dropped 1 percent in May, the result of a sharp drop in demand for military equipment.  The Commerce Department says, excluding defense-related goods, orders actually rose 0.6 percent, and orders for core capital goods also increased, reflect a rise in business investment.
     
  • Monsanto says its earnings fell more than 5 percent in the third fiscal quarter as sales of biotech corn seeds slipped. The St. Louis company says it earned $858 million, or $1.62 per share in the three months ended May 31. However, Monsanto's overall earnings topped Wall Street estimates and its shares are up more than 5 percent today.
     
  • Barnes & Noble is splitting its retail bookstores and Nook media business into two separate public companies. Barnes & Noble has been trying to turn itself around as competition from discount stores and online retailers toughens, and as readers shift away from traditional books to digital formats. Earlier this month, the bookseller announced that it's teaming with Samsung to develop Nook tablets. Barnes & Noble share were up nearly 10 percent in morning trading.

Previous Story

Next Story




 
Find Local Businesses on KELO Pages!

View business

You may also like

New Indoor Racing & Recreation Business

11/19/2014 10:05 PM

For about four months out of the year, people in the Sioux Falls area can go go-kart racing and play mini golf.

Full Story | Watch
New Sioux Falls Shop Opens Thursday

11/19/2014 11:10 AM

Holiday shoppers will soon have a new spot to buy locally made gifts.

Full Story
Stroller Recall Due To Amputation Hazard

11/20/2014 9:45 AM

More than four million strollers sold in the United States are part of a recall.

Full Story
Gas Stations In Region Struggling To Keep Up Supply

11/18/2014 5:52 PM

Over the past few days, drivers in Sioux Falls have been noticing certain grades of fuel are out of stock at gas stations across town.

Full Story | Watch
Sioux Falls Misses Out Hosting NCAA Tournament Games

11/17/2014 10:50 AM

Sioux Falls won't host any preliminary round games for the 2016-2018 NCAA Men's Division I Basketball Championships.

Full Story


Events