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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Jul 13, 2013
Page
10
Wall Street ended higher with the Dow up 3.38 points to 15,464.30 and the S P 500 rising 5.17 points to 1,680.19 as trading closed. Banks like Wells Fargo and JP Morgan beat expectations while consumer sentiment dipped and investors eye upcoming inflation and retail data.
UPS shares fell 5.9 percent to 86.05 after the company warned of weaker second quarter earnings and trimmed its full year profit forecast. For 2013 UPS expects 4.65 to 4.85 per share, down from prior guidance, as overcapacity and a shift to cheaper options weigh on demand. The slowdown in U S economic activity and ongoing labor talks also factor into the outlook.
The FDA sets a new maximum arsenic level for apple juice at 10 parts per billion, aligning with drinking water standards. Officials say most juices are below the threshold and the rule aims to guide industry and ensure ongoing safety for consumers, especially children.
Michael Kors files federal suit in New York accusing Costco of a bait and switch scheme. The designer claims Costco advertised bags starting at 99 dollars without inventory, exploiting bag popularity to lure customers from authorized retailers.
Boeing stock dropped 7.20 dollars to 99.68 as a fire on an empty Ethiopian Airlines 787 at Heathrow prompted unexplained fire concerns. The 787 fleet had been grounded over lithium ion battery issues with resumption in May after redesigns approved by regulators.
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