Wednesday, March 13, 2019

business news today

business news today


Stock market today: Live updates - CNN

Posted: 11 Mar 2019 03:14 PM PDT

Wall Street's five-day losing streak is over.

The Dow jumped 201 points, or 0.8%, on Monday, recovering from an early slide of as much as 242 points.

The S&P 500 advanced 1.4%. The Nasdaq soared 1.9%, its best day since January 30.

Boeing (BA) closed down 5%, sharply rebounding from a plunge of 13% during early trading. Some foreign airlines grounded Boeing's 737 MAX 8 jet after 157 people died aboard an Ethiopian Airlines flight that crashed Sunday. However, US carriers American Airlines (AAL) and Southwest (LUV) expressed confidence in the Boeing jet.

"The market's ability to rally so strong today in light of the weakness in BA is impressive," Paul Hickey, co-founder of Bespoke Investment Group, wrote in a note to clients.

Spirit AeroSystems (SPR), which makes Boeing 737 MAX fuselages, fell 4%. 

Tech stocks were very strong Monday, with Facebook (FB) advancing 1.5% and Nvidia (NVDA) soaring 7%. Apple (AAPL), which announced plans late in the day to hold an event on March 25, jumped 3.5%.

The rally represents a rebound from the 2% slide for the Dow and S&P 500 last week, which was the worst of 2019. 

Tech Leads US Stocks Broadly Higher; Boeing Drops - U.S. News & World Report

Posted: 11 Mar 2019 02:11 PM PDT

[unable to retrieve full-text content]Tech Leads US Stocks Broadly Higher; Boeing Drops  U.S. News & World Report

BANGKOK (AP) — Shares were mixed in Asia on Monday as investors awaited further developments in trade talks between the U.S. and China.

Stocks to open lower | Trump and Kim meet | Weight Watchers craters - CNBC

Posted: 27 Feb 2019 12:00 AM PST

Futures were lower this morning as President Donald Trump meets with North Korean leader Kim Jong Un for the first in-person discussion of their summit. Stocks had a back and forth session Tuesday before ending slightly lower, giving the Dow, S&P 500 and Nasdaq their first declines in three days. (CNBC)

* Saudi energy minister responds to Trump's tweet that said OPEC should 'relax' (CNBC)
* Cramer: Buy names like Caterpillar and Home Depot because this bull market is about to go higher (CNBC)

As they did yesterday, investors will have a chance to react to testimony from Fed Chairman Jerome Powell, whose second day of testimony on Capitol Hill will come before the House Financial Services Committee. The major averages remain on track for a third monthly gain in four months. (CNBC)

Weight Watchers (WTW) shares were 34 percent lower after the company missed earnings and revenue forecasts. It also issued a weaker-than-expected 2019 revenue guidance. Oprah Winfrey's stake fell by almost $48 million, at least on paper, after the company released results. (CNBC)

Several pieces of housing-related data will be out today, beginning with the Mortgage Bankers Association's weekly reading on mortgage applications at 7 a.m. ET. At 10 a.m. ET, the National Association of Realtors will issue its pending home sales report for January. December factory orders are out at 10 a.m. ET. (CNBC)

* Weekly mortgage applications jump 5.3% as lower rates seem here to stay (CNBC)

Best Buy (BBY), Campbell Soup (CPB) and Lowe's (LOW) are among the companies with quarterly numbers this morning, while HP Inc. (HPQ), Booking Holdings (BKNG), Hostess Brands (TWNK), L Brands (LB), Perrigo (PRG) and Wingstop (WING) are among the reports after today's closing bell. (CNBC)

* Best Buy shares soar 11% on earnings beat (CNBC)
* Lowe's shares dip as sales fall short of Wall Street expectations (CNBC)

President Donald Trump and North Korean leader Kim Jong Un met today face-to-face for the first time since their historic summit last year. The leaders are sharing what the White House called "a social dinner." (CNBC)

* Trump tries to convince Kim that the summit is North Korea's chance for an economic boom (CNBC)

Trump's former personal lawyer Michael Cohen's public testimony before the House oversight committee today is expected to include a series of remarkable allegations about the president as well as the presidential campaign. (CNBC)

* Read Michael Cohen's opening statement (CNBC)

The House voted to block Trump's national emergency declaration, passing the resolution in a 245-182 vote. The measure would terminate the action Trump took to secure billions to build his proposed wall along the southern border. (CNBC)

A Senate panel grilled top executives from seven of the largest pharmaceutical companies at a hearing on prescription drug prices. The executives have a number of ideas to reduce drug prices for patients, except lowering list prices. (CNBC)

Pakistan shot down two Indian jets today, a spokesman for the Pakistan armed forces said, a day after Indian warplanes struck inside Pakistan for the first time since a war in 1971. (Reuters)

Former federal prosecutor Lori Lightfoot and Cook County Board President Toni Preckwinkle are headed to an April 2 runoff to decide who will become the nation's third-largest city's next mayor, topping a crowded field of 14 candidates. (USA Today)

At least three people were killed after two Long Island Rail Road trains late last night struck a vehicle that had swerved onto the tracks. The rush-hour collision occurred about 30 miles east of Manhattan, setting off fires. (NY Times)

Wynn Resorts (WYNN) was fined $20 million in connection with a probe by Nevada regulators into sexual misconduct allegations against former CEO Steve Wynn. It was the largest fine ever assessed by the state's gambling regulators. (WSJ)

IBM (IBM) appointed Admiral Michelle J. Howard, the first African American woman to command a U.S. Navy ship, to its board, the company announced. A former U.S. Navy officer, Howard was the first woman to become a four-star admiral. (CNBC)

Papa John's (PZZA) fell two cents short of estimates with adjusted quarterly profit of 15 cents per share, and the pizza chain's revenue was also short of analyst forecasts. North American comparable store sales fell 8.1 percent during the quarter, and 7.3 percent for the full year However, the company's 2019 comparable store sales forecast is stronger than analysts had been expecting.

Mylan (MYL) reported adjusted quarterly profit of $1.30 per share, falling six cents shy of consensus forecasts, with the generic drug maker's revenue in line with Street projections. Mylan also issued weaker than expected 2019 earnings guidance as it spends more on research, development, and marketing.

U.S. private equity firm Cerberus would be open to a merger between Deutsche Bank (DB) and Commerzbank, according to a Reuters report. Cerberus is a major shareholder in both German banks.

Facebook (FB) will launch a "clear history" feature later this year, allowing users to erase data related to their interactions with various apps and websites.

Home Depot (HD) was downgraded to "market perform" from "outperform" at Telsey, which said it came away from the home improvement retailer's earnings call with concerns that the guidance of a 5 percent comparable sales increase could prove to be too optimistic.

Rio Tinto (RTN) reported better than expected profit for its latest quarter, as well as its highest earnings since 2014. The mining company also announced a regular and special dividend, as well as giving an upbeat outlook for its iron ore business.

Liberty Global (LBTYA) is in advanced discussions to sell its Swiss internet and digital TV unit to Zurich-based Sunrise Communications for $6.3 billion, according to a Reuters report.

Gap (GPS) announced a new $1 billion stock buyback program. The apparel retailer also announced it would maintain its annual dividend at the current 97 cents per share for fiscal 2019.

GW Pharmaceuticals (GWPH) reported better than expected earnings for its latest quarter, although the drug maker's revenue was short of Street forecasts. The drug maker said it is seeing strong demand for its new Epidiolex epilepsy drug.

If you have dreams of hitting the jackpot in the next Mega Millions or Powerball drawing, remember that a big slice of what the lottery giveth, the taxman taketh away. Here's your tax bill if you win either jackpots. (CNBC)

The Latest: Hospital Groups Protest Cuts in Trump Budget - U.S. News & World Report

Posted: 11 Mar 2019 06:41 PM PDT

[unable to retrieve full-text content]The Latest: Hospital Groups Protest Cuts in Trump Budget  U.S. News & World Report

Hospital groups are objecting strongly to hundreds of billions of dollars in proposed Medicare and Medicaid payment cuts in President Donald Trump's budget.

Business Briefs: March 12, 2019 | News - Journal Review

Posted: 11 Mar 2019 10:15 PM PDT

Three agents join Carpenter Realtors

Dee Dee Jones

Dee Dee Jones

Dee Dee Jones has joined Carpenter Realtors. She has been a Realtor since 2004. She is a lifelong Montgomery County resident. She is a member of the Indianapolis Metropolitan Board of Realtors and the National Association of Realtors.

She is the daughter of Delbert and Jean Anderson and one of seven of their children. She is married to Craig Jones, and they have two daughters, Jasmine and Kaylee. They also have a granddaughter, Sienna.

She loves spending time with her family and friends. Because she loves to travel, she often will often organize trips with them.

She loves animals, and has three dogs and two cats. You might see her at garage sales, auctions and flea markets.

Reach her at the office at 765-362-4050; by cell phone 765-230-6715; or email djones@callcarpenter.com.

Daniel Bergfors has joined Carpenter Realtors. He is a member of the Indianapolis Metropolitan Board of Realtors.

Daniel Bergfors

Daniel Bergfors

Bergfors has lived in Crawfordsville for 11 years with his wife, Julie, and their dog, Addy. He has three step-children and is a member of St. Bernard's Catholic Church, Crawfordsville Airport Aviation Board as well as many other community organizations. In addition to real estate, he has a background in the United States Air Force and 25-plus years in management.

Reach him by cell at 765-366-9733; at the office at  765-362-4050 office; or by email to dbergfors@callcarpenter.com.

Brenda Wheeler and her husband, Larry, moved to Crawfordsville in 1977 with their five children. She enjoys reading, traveling and doing things with her grandchildren.

Brenda Wheeler

Brenda Wheeler

Wheeler has been a Realtor for 26 years. She is a member of the Indianapolis Metropolitan Board of Realtors and the National Association of Realtors.

Reach Wheeler by cell at 765-918-0320; at the office at 765-362-4050 office; or email @ bwheeler@callcarpenter.com.

 

Quigley marks 25 years at Crawford

Beverly Quigley celebrated 25 years of service with Crawford Industries on Monday. She joined the company in 1993 as a finishing operator, but left for a short period in 1996. 

Quigley has spent time in various positions and departments, including inspect and pack in finishing, quality process tech in process engineering, screen tech in prelim and her current position as a cutter in the flat cut department, where she has worked since 2005.  

Quigley and her husband live in Crawfordsville and have three sons, Tim, Brandon and Nicholas. In her spare time, she enjoys reading, visiting state parks, bike riding and taking care of her dog.

 

Gibson to retire from Hoosier Heartland

Hoosier Heartland State Bank will honor Carolyn Gibson for her 16 years of service on Friday with a public open house.  

Carolyn Gibson

Carolyn Gibson

"Carolyn has been a joy to work with and we will miss her," said Brad Monts, president of HHSB. "Her attention to detail at work and her passion for the community was remarkable. I have no doubt we will continue to see her doing great things in the community for years to come."

Gibson began as a teller and worked her way up into her current position as RE Underwriter.

"Carolyn has always been a self-starter and avid learner," said Trent Smaltz, CLO of HHSB. "She was always dedicated to learning more and was always on top of her game."

Gibson plans to spend more time with her family, travel and take up golfing again.

An open house will take place from 11 a.m. to 2 p.m. Friday at the Crawfordsville south branch.

 

Local F.C. Tucker recognizes top agents

Kasey Ferguson

Kasey Ferguson

Kasey Ferguson was recognized by F.C. Tucker West Central for her sales and listings numbers.

Born and raised in Montgomery County, Ferguson has 13 years of experience in real estate.    

Ferguson resides at Lake Holiday with her husband Buddy and their children, Remy and Kyler. She loves boating, camping, golf carting, enjoying time with friends and family and supporting her children in their sports and activities.

Angie Williams was recently recognized by F.C. Tucker West Central for her sales and listings numbers.

Angie Williams

Angie Williams

She is a graduate of Purdue University and is heavily involved in the local community. She enjoys coaching youth sports, theater and spending time outdoors with her family. 

Williams resides in the southern part of Montgomery County with her husband, Matt, and their three children.

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