Weak earnings drag down stock market
Wednesday, October 24, 2012 - 03:00 Spencer Platt/Getty Images Traders work on the floor of the New York Stock Exchange in New York City. Blame bad earnings reports from several companies, including DuPont -- its stock dropped nine percent. The chemical company’s profits fell short of expectations, amid news it’s laying off 1500 people. 3M and the aerospace and buildings company United Technologies also fell. These are heavy hitters and when they struggle, it shows up in the overall numbers. One bright spot was UPS, which gained three percent. It’s an important company to watch because if it’s doing well, companies are shipping, which means consumers are buying. PNC Financial Services chief economist Stuart Hoffman says it could be a sign shoppers feel good as the year closes. "We actually think the holiday season will be a good one. It won’t be great, but we think sales will be three to four percent higher than last year." Wall Street’s rough ride didn’t continue overseas ...
asian
china
city
dupont
economists
exchange
expectations
garrison
getty images
hoffman
mark
marketplace
platt
pnc
service
services
spencer
story type
street
stuart
technology
united
ups
wall
york
Service sector growth rises in August: ISM
NEW YORK - The pace of growth in the massive services sector rose in August on the back of a rebound in employment, beating expectations, though a measure of new orders declined, according to an industry report.
employment
expectations
ism
service
services
york
Found more than 1 month ago on channel
Reuters
Exclusive: Roper nears $1 billion healthcare acquisition -sources
NEW YORK - Diversified manufacturer Roper Industries Inc is in advanced talks to buy Managed Health Care Associates, a privately held healthcare services provider, for about $1 billion, two people familiar with the matter said on Wednesday.
acquisition
associates
billion
exclusive
roper
service
services
york
Found 1 month ago on channel
Reuters
Microsoft offers security enhancement for sign-ins
NEW YORK -- Microsoft is offering enhanced security for email, storage and other services....
enhancements
microsoft
securities
service
services
york
Fairway to begin trading after IPO prices at $13
NEW YORK -- Fairway priced its initial public offering of stock at $13 per share, above expectations, with shares of the New York grocery store chain set to begin trading Wednesday....
expectations
fairway
ipo
york