The Clinton Herald, Clinton, Iowa

Business & Technology

October 26, 2013

Stocks rise on profit gains from Microsoft, others

NEW YORK (AP) — Strong third-quarter results from technology companies drove investors into stocks on Friday, giving the market its third straight weekly gain.

After reporting results that topped expectations, Microsoft rose 6 percent and Amazon.com rose 9 percent. The Standard & Poor’s 500 index hit a record. The Nasdaq is the highest it’s been in 13 years.

The gains were broad. All 10 industry groups in the S&P 500 rose, led by telecommunications with an increase of 1 percent.

Most companies that have reported third-quarter earnings are beating financial analysts’ estimates. Even so, earnings for companies in the S&P 500 index are expected to grow just 4.5 percent over the same period a year ago, according to S&P Capital IQ, a research firm. At the start of the year, earnings were expected to rise at more than twice that pace.

Some market watchers are calling for caution, saying that a significant part of the profit growth has come from cutting expenses, not increasing revenue, as the global economy remains sluggish.

“The question is: What is the outlook for earnings?” Steven Ricchiuto, chief economist at Mizuho Securities, said. “There is only so much you can do with cost-cutting.”

1
Text Only
Business & Technology
  • Smartphone kill switches are coming

    Smartphones need kill switches. It's a relatively easy solution to the pricey (and irritating) problem of smartphone theft. But who would have thought that the big carriers would team up with Apple, Google, Microsoft, Nokia, Samsung and lots of other manufacturers to voluntarily begin adding the technology by July 2015? The cooperative spirit! It makes so much sense!

    April 19, 2014

  • Minnick New director at Ashford CLINTON -- Ashford University has appointed a new vice president/campus director of its Clinton campus. Charlie Minnick has been appointed for the position. He has been in the position on an interim basis since Jan. 1. Ashford University Provost Lori

    April 19, 2014 1 Photo

  • McEleney McEleney elected to insurance board CLINTON -- A car dealership owner recently earned a spot on a national insurance board. John McEleney, of Clinton and owner of McEleney Motors, was elected to the Board of Directors of the Federated Insurance Companies. The election took place this w

    April 19, 2014 1 Photo

  • Biggest student loan profits come from grad students

    This week, the Congressional Budget Office projected that the federal government would earn roughly $127 billion from student lending during the next 10 years.

    April 18, 2014

  • NASA's moon-orbiting robot crashes down as planned

    April 18, 2014

  • Local farmers honored DES MOINES -- Iowa Secretary of Agriculture Bill Northey has announced that Marty and Michael Burken who run Blue Hyll Dairy in rural Clinton County have been named the April winners of the "Gary Wergin Good Farm Neighbor Award." Northey will present

    April 18, 2014

  • 4-19-14 FBLA photo CHS Future Business Leaders of America attend conference Thirty members of the Clinton High School Future Business Leaders of America attended their spring leadership conference at the Marriott Coralville from March 26-29. Students attending the conference competed against other Iowa students in state and

    April 17, 2014 1 Photo

  • U.S. stock market rebounds after choppy day A stock market swoon turned into a comeback Tuesday. Stocks managed a late-afternoon rebound for the second time in two days as investors seemed to brush off a report of lower confidence among homebuilders and simmering tensions in the Ukraine. The l

    April 16, 2014

  • Document shredding offered CLINTON -- A Clinton bank will provide document shredding this weekend. The free service will be held from 9 to 11 a.m. Saturday at Citizens First Bank's office at 1442 Lincoln Way. This is the 10th year the bank has offered this service, Citizens Fi

    April 15, 2014

  • Why Facebook is getting into the banking game

    Who would want to use Facebook as a bank? That's the question that immediately arises from news that the social network intends to get into the electronic money business.

    April 14, 2014

Facebook