The Norman Transcript

Headlines

January 19, 2013

Stocks end week with gains

NEW YORK — Better earnings from General Electric and Morgan Stanley helped the stock market inch higher Friday, as major indexes closed out their third straight week of gains.

GE led the 30 stocks in the Dow Jones industrial average after the conglomerate reported stronger quarterly earnings, thanks to orders from Brazil, Angola and other developing countries. Profits increased at all seven of its industrial segments, including oil and gas, energy management, aviation and transportation. GE climbed 74 cents to $22.04.

The Dow gained 53.68 points to end at 13,649.70.

The Standard & Poor’s 500 index rose 5.04 points to 1,485.98, while the Nasdaq composite fell 1.30 points to 3,134.70.

Even though investors had plenty of news to digest, trading was largely quiet. “Earnings always matter,” said Rex Macey, the chief investment officer of Wilmington Trust Investment Advisors in Atlanta. “But just because we’re in the middle of earnings season doesn’t mean we’re going to get huge market moves.”

This earnings season is off to a good start so far. Of the 67 companies in the S&P 500 that have reported, 43 have trumped analysts’ estimates.

Solid results this week from JPMorgan Chase and others, along with encouraging news on housing and employment, pushed the S&P 500 index to its latest five-year high.

Morgan Stanley’s earnings surged across its many business lines, as more companies hired the investment bank to help it raise money and line up mergers. Morgan Stanley gained 8 percent, rising $1.63 to $22.38.

Intel, the world’s biggest chipmaker, said late Thursday that fourth-quarter net income fell 27 percent. A growing preference for smartphones and tablets, instead of personal computers and laptops powered by Intel chips, have made investors wary of the company’s stock. It lost $1.43 to $21.25.

Norwegian Cruise Line soared 30 percent in its first day of trading, the top performance of the three companies making their public debut on Friday. Five companies raised a total of $1.8 billion through initial public offerings this week, making it the best week for IPOs since early October, according to the data provider Ipreo.

Text Only | Photo Reprints
Headlines
  • Fracking Operation Norman library to host community dialogue about fracking

    Are Oklahoma oil companies an oligarchy that is controlling state policy? Is fracking safe? These and other topics will be the subject of an upcoming Fracking Forum from 7 to 8:30 p.m. Aug. 11 in the Norman Public Library’s Lowry Room, 225 ...

    July 24, 2014 1 Photo

  • Information scarce on ‘dark money’ group in Oklahoma superintendent campaign

    An independent expenditure group that paid for television advertisements opposing State Superintendent Janet Barresi in last month’s primary has not filed required spending reports with the Oklahoma Ethics Commission....

    July 24, 2014

  • Medical examiner says inmate died of an accidental drug overdose

    The Oklahoma Medical Examiner’s Office on Wednesday said a woman found dead in the Cleveland County jail Feb. 23 died of a drug overdose....

    July 24, 2014

  • Ride CART fare free on Ozone Alert Day

    Environmental officials have declared today as an Ozone Alert Day. Passengers ride fare free on Cleveland Area Rapid Transit on Ozone Alert Days....

    July 24, 2014

  • Board votes to delay plan

    OKLAHOMA CITY — Oklahoma’s State Board of Education voted on Wednesday for a second time to delay a formal plan for adopting new education standards in math and English amid opposition to the proposal from three education groups that ...

    July 24, 2014

  • Arizona inmate dies two hours after execution begins

    PHOENIX — A condemned Arizona inmate gasped and snorted for more than an hour and a half during his execution Wednesday before he died in an episode sure to add to the scrutiny surrounding the death penalty in the U.S....

    July 24, 2014

  • Man injured in motorcycle wreck ID’d

    Norman police identified a man transported to Norman Regional Hospital’s emergency room after a two-vehicle collision involving a motorcycle and a car Wednesday....

    July 24, 2014

  • Wine, Organ and Compline at St. Thomas More

    St. Thomas More University Parish, 100 Stinson St., is hosting the Wine, Organ and Compline at 7 p.m. today. The series will begin with a wine and cheese gathering in the atrium, followed by an organ recital presented by guest organist ...

    July 24, 2014

  • 48 dead after Taiwan plane crash

    TAIPEI, Taiwan — Family members of victims of a plane crash were flying to the small Taiwanese island today where the plane had unsuccessfully attempted to land in stormy weather, killing 48. There were 10 survivors, and authorities were ...

    July 24, 2014

  • Felonies filed

    The following persons were charged with felony counts in the Cleveland County Court Clerk’s Office: · Kenneth Leo Turk, 64, aggravated count of driving a motor vehicle under the influence of alcohol · Kelly Revonn Turner, 21, ...

    July 24, 2014