The Norman Transcript

Nation/World

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
Nation/World
  • Study: Half of jailed youths have injury

    NEW YORK — About half of all 16- to 18-year-olds coming into New York City’s jails say they had a traumatic brain injury before being incarcerated, most caused by assaults, according to a new study that’s the latest in a growing body of ...

    April 19, 2014

  • Senate to debate rideshare regulations

    PHOENIX — Among the major issues left to cover at the Arizona Legislature before the session ends is how to regulate the increasingly popular ridesharing programs like Uber and Lyft. The contentious debate has pitted traditional taxi ...

    April 19, 2014

  • Quake shakes Mexican capital

    ACAPULCO, Mexico — A powerful magnitude-7.2 earthquake shook central and southern Mexico on Friday, sending panicked people into the streets. Some walls cracked and fell, but there were no reports of major damage or casualties....

    April 19, 2014

  • Fear and loathing

    DENVER — A college student eats more than the recommended dose of a marijuana-laced cookie and jumps to his death from a hotel balcony. A husband with no history of violence is accused of shooting his wife in the head, possibly after ...

    April 19, 2014

  • Captain arrested after sinking of ferry

    MOKPO, South Korea — The captain of a sunken South Korean ferry was arrested Saturday on suspicion of negligence and abandoning people in need, as investigators looked into whether his evacuation order came too late to save lives. Two crew ...

    April 19, 2014

  • Judge asks pointed questions in gay marriage case

    DENVER — A judge in Colorado who will play a pivotal role deciding whether gays should be allowed to wed in the United States asked pointed questions Thursday about whether Oklahoma can legally ban the unions....

    April 18, 2014

  • Sudan: 12 die after mob attacks UN base

    JUBA, South Sudan — An angry mob of South Sudanese youths attacked a U.N. base on Thursday to harm members of an ethnic minority sheltering inside. Peacekeepers were forced to open fire, amid rampaging violence that killed at least 12 ...

    April 18, 2014

  • Astronomers spot most Earth-like planet yet

    LOS ANGELES — Astronomers have discovered what they say is the most Earth-like planet yet detected — a distant, rocky world that’s similar in size to our own and exists in the Goldilocks zone where it’s not too hot and not too cold for ...

    April 18, 2014

  • Creek, old purse solve mystery

    ELK POINT, S.D. — Cheryl Miller and Pamella Jackson had planned to celebrate the end of the 1971 school year by gathering with classmates at a quarry along a gravel road....

    April 18, 2014

  • Chaotic scene described on sinking ferry

    MOKPO, South Korea — There was chaos and confusion on the bridge of a sinking ferry, with the captain first trying to stabilize the listing vessel before ordering its evacuation, a crewman said Thursday....

    April 18, 2014