The Clinton Herald, Clinton, Iowa

National News

March 4, 2014

Stocks slide as tension rises in Ukraine

(Continued)

Americans also spent more in January, but the increase came from a surge in spending on heating bills during the harsh winter. Spending in areas such as autos and clothing declined. Spending rose 0.4 percent in January after a 0.1 percent gain in December, the Commerce Department said Monday. The December figure was revised down from a 0.4 percent increase.

Among other stocks making big moves on Monday:

— Lorillard, the maker of Newport cigarettes, rose $4.55, or 9.3 percent, to $53.61 after the Financial Times reported that rival RJ Reynolds, the maker of Lucky Strike and Camel cigarettes, was considering making a bid for the company.

— Darden Restaurants, the parent company of Olive Garden, slumped $2.73, or 5.3 percent, to $48.33 after the restaurant operator said that exceptionally rough winter weather reduced earnings in its latest quarter by about 7 cents per share. Expenses related to the company’s plan to split off its Red Lobster chain also hurt earnings.

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