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BUSINESS HEADLINES
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› Tech, transports drag on Wall Street; Dow hits record
(Reuters) - A swoon in technology and transportation shares led the S&P 500 slightly lower on Thursday on a day full of corporate earnings reports, but the Dow industrials set a record closing high, helped by a jump in Verizon. |
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› Amazon profit slumps 77 percent as costs surge, shares fall
(Reuters) - Amazon.com Inc reported a 77 percent slump in quarterly profit as the company invests heavily in areas such as video content and in fast-growing economies such as India. |
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› Starbucks signals U.S. caution on lower profit; closing Teavana stores
LOS ANGELES (Reuters) - Starbucks Corp on Thursday reported quarterly profit that matched analysts' estimates, but tempered expectations for the current quarter amid softness in the U.S. retail and restaurant industries, and said it would close all 379 of its Teavana stores. |
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› U.S. durable goods, trade data boost second-quarter growth estimate
WASHINGTON (Reuters) - Shipments of key U.S.-made capital goods increased in June for a fifth straight month, suggesting that business spending on equipment helped to boost economic growth in the second quarter. |
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› Exclusive: Nordstrom family offers preferential terms to clinch buyout partner - sources
(Reuters) - The group of Nordstrom Inc family members seeking to take the eponymous U.S. department store operator private is offering preferential terms to potential equity partners willing to fund the buyout, people familiar with the matter said. |
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› Booming stocks and credit, falling U.S. dollar seen giving Fed cover to hike
NEW YORK (Reuters) - Despite analysts' chatter that sluggish inflation may prevent the Federal Reserve from raising interest rates further soon, the rosy scene in financial markets might allow U.S. policy-makers to squeeze in another rate hike this year after all. |
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› Intel second quarter revenue rises 9.1 percent
(Reuters) - Intel Corp, the world's largest chipmaker, reported a 9.1 percent rise in quarterly revenue, helped by strength in its data center and personal computer businesses. |
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› Trump's 'America First' push not protectionist: UPS CEO
SEATTLE (Reuters) - Republican U.S. President Donald Trump's efforts to renegotiate or scrap longstanding global trade deals are not protectionist and are more focused on winning better terms for American businesses, the top executive of United Parcel Service said on Thursday. |
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› Amazon's Jeff Bezos becomes world's richest: Forbes
(Reuters) - Amazon.com Inc Chief Executive Jeff Bezos has unseated fellow tech billionaire Bill Gates as the richest person in the world, profiting from the e-commerce company's meteoric stock rise to reach a fortune of $90.6 billion, Forbes reported. |
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› Gundlach's DoubleLine purchased five-month put options on S&P 500
NEW YORK (Reuters) - Jeffrey Gundlach's DoubleLine Capital purchased some five-month put options on the Standard & Poor's 500 Index a couple days ago as the CBOE Volatility Index fell to its lowest since December 1993. |
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