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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
May 17, 2013
Page
11
Stocks fluctuated as Cisco Systems rose 13 percent to 23.87 after quarterly results beat expectations driven by stronger U.S. and emerging market revenue. The Dow inched up while Nasdaq gained 0.2 percent and Wal Mart fell 2 percent on weak sales and tax refund delays.
Oil rose on the New York Mercantile Exchange to 95.16 a barrel as June delivery gained 86 cents after dipping to 93.23. The move comes amid mixed economic signals with U S unemployment aid claims rising to 360000 last week, the highest in six years.
California officials drop bid to consolidate lawsuits challenging use of high speed rail bonds. Judge Michael P. Kenny will hear May 31 arguments in the 2011 Kings County suit claiming plans do not comply with 2008 voters Proposition 1A requirements for issuing nearly 10 billion in bonds.
Puerto Rico reports its coffee harvest at about 80 000 pounds the lowest on record, roughly one third of local demand. Agriculture Secretary Myrna Comas notes fluctuating past yields and calls for fortifying quality while imports fill the shortfall amid a labor shortage and economic pressures.
An official laments rising losses from a failed harvest and warns education shifts threaten farming. He notes previous attempts to draft teens and inmates failed due to late timing and coordination. Plans include reviving inmate labor and raising coffee picker pay amid seed shortages.
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