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Wednesday Afternoon Business Brief

April 25, 2012, 1:22 PM

Wednesday Afternoon Business Brief

Apple's blow-out earnings are today's show stealer for the stock market, helping to power the key averages higher. The Nasdaq, which includes Apple, has been up 2 percent.

  • The Federal Reserve met for two days and offered little new in its written statement. The central bank says the economy is growing moderately while cautioning that risks remain from Europe's debt crisis and slowdown. And it isn't ready to take any further steps to boost the recovery.
  • A Senate bill aimed at saving the U.S. Postal Service would make it harder to close thousands of low-revenue post offices and end Saturday mail delivery. The struggling agency says those moves are needed to reduce its massive debt and become profitable again.
  • Harley-Davidson says first-quarter profit jumped 44 percent, as improving economic conditions boosted U.S. sales of its iconic motorcycles. The results topped Wall Street expectations and the company has lifted its forecast for shipments for the full year.
  • The Coca-Cola Co. is seeking its first stock split in 16 years. The Atlanta-based soft drink giant says a 2-for-1 split fits with its plan to double revenue over this decade. Coke stock began trading in 1919. Since then, the stock has been split only 10 other times.

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