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.


20° 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!

 

Monday Evening Business Brief

November 12, 2012, 5:36 PM

Monday Evening Business Brief
  • Stocks closed little changed on Wall Street. The Dow Jones industrial average ended a quarter point lower at 12,815. The S&P 500 was up a fraction to 1,380, while the Nasdaq lost less than a point to 2,904.
  • J.C. Penney stock fell nearly 13 percent today, the biggest percentage decline among big companies in the S&P 500. A more prolonged drop follows S&P Ratings move to lower Penney's credit rating deeper into junk status on Friday. That same day, the company reported its third consecutive quarter of big losses and sales declines. Penney's decided earlier this year to get rid of hundreds of coupons and sales in favor of predictable prices.
  • There's trouble in the land of Twinkies and Ding Dongs. Hostess Brands is permanently closing three bakeries following a nationwide strike by its bakers union. The Texas-based baked goods maker says the strike has prevented it from producing and delivering products. Thousands of members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union went on strike earlier this month to protest wage and benefit cuts.
  • Federal health inspectors have found more than a dozen sterility problems, including insects, at a drugmaking facility with the same founders as the specialty pharmacy linked to a deadly meningitis outbreak. The FDA released the results of a monthlong inspection of Ameridose, a Westborough, Mass.-based company that makes a variety of injectable drugs.
  • A source says Kodak has reached an agreement to borrow $793 million, potentially allowing it to exit bankruptcy protection early next year. The printing and photography company would borrow the money from a private investment firm, Centerbridge Partners, and the lending arms of asset management firm The Blackstone Group and banks JP Morgan Chase and UBS.

Read more business stories on the Back To Business page.

Previous Story

Next Story




Sponsored
Find Local Businesses on KELO Pages!

View business

You may also like

Auto Dealer Chain To Pay Fine For Deceptive Ads

12/12/2014 11:41 AM

A family-owned chain of automobile dealerships located in Iowa, Montana and South Dakota will pay a $360,000 civil penalty for running deceptive ads.

Full Story
National Attention For Sioux Falls Bakery

12/15/2014 9:56 AM

A Sioux Falls bakery is getting more national recognition.  CH Patisserie has been named one of the top 75 bakeries in the nation by The Daily Me...

Full Story
Cliff Hangers Gallery Closes; Customers Want Items Back

12/15/2014 10:10 PM

For more than two decades, Cliff Hangers Gallery has been a fixture in Sioux Falls.  A couple of years ago, the business moved from Park Ridge Ga...

Full Story | Watch
What Will Cost More/Less In 2015

12/16/2014 1:36 PM

Industry experts say gasoline prices will continue to fall in 2015, but other prices are expected to rise.

Full Story
Denny Sanford To Donate $25 Million For Scholarship Program

12/16/2014 4:30 PM

Philanthropist T. Denny Sanford is donating $25 million to South Dakota for a scholarship program for the state's technical schools.&nbs...

Full Story


Events