National business and financial news from NewsOK

  • Minding the tax bite in fund investing

    Updated: 28 min ago

    NEW YORK (AP) — How painful was tax season for you? For many investors with mutual funds in a taxable account, it was tougher this year than last. That's because the best year for stocks since 1997 pushed many funds to make capital gains distributions to their shareholders, and those got...

  • Cold winter weather gives boost to Entergy in 1Q

    Updated: 31 min ago

    NEW ORLEANS (AP) — Entergy's first-quarter net income more than doubled, with the power company benefiting from a cold winter. For the three months ended March 31, Entergy Corp. earned $401.2 million, or $2.24 per share. That's up sharply from $161.4 million, or 90 cents per share, a year...

  • Dunkin' wants to spread iced coffee habit

    Updated: 36 min ago

    NEW YORK (AP) — Dunkin' Donuts is on a quest to get more people in the habit of drinking iced coffee regardless of how warm it is outside, as many do in its hometown in the Northeast. As anyone who regularly visits a coffee shop knows, iced coffee usually costs a dollar or two more than a cup...

  • News Summary: GM 1Q profit dragged down by recalls

    Updated: 46 min ago

    GM EARNINGS: General Motors' first-quarter profit fell 86 percent to $125 million, mostly due to a $1.3 billion charge for recalling 7 million vehicles worldwide. It was GM's worst quarterly performance since 2009. BETTER THAN EXPECTED: Excluding one-time items like a $419 million charge for...

  • Gas prices across Texas hold steady at $3.49

    Updated: 49 min ago

    IRVING, Texas (AP) — Retail gasoline prices across Texas held steady this week at $3.49 per gallon. AAA Texas on Thursday reported that compares to the nationwide average price of $3.68 per gallon, up 2 cents from last week. Dallas has the most expensive gasoline statewide this week at $3.56...

  • Stocks mostly higher on earnings gains; Apple up

    Updated: 1 hr ago

    NEW YORK (AP) — Mixed earnings from a large number of U.S. companies had stocks moving between modest gains and losses Thursday, despite strong results from a handful of names including Apple and Caterpillar. 3M was among those whose results disappointed investors. On top of what is another...

  • GM profit sinks; CEO sees no recall hit to sales

    Updated: 1 hr ago

    DETROIT (AP) — The cost of recalling nearly 7 million cars and trucks sank General Motors' first-quarter profit, but the company's CEO said the much-publicized recalls have yet to cut into sales. GM on Thursday reported its worst financial results in more than four years, with profit falling...

  • Caterpillar 1Q profit climbs 5 pct, forecast rises

    Updated: 1 hr ago

    Caterpillar's first-quarter earnings rose 5 percent, and the construction equipment maker raised its 2014 forecast. But the company also said Thursday that a mining equipment sales slump is still hurting results. The Peoria, Ill., company now expects 2014 earnings of $6.10 per share excluding...

  • Cigarette maker Lorillard 1Q profit falls 17 pct

    Updated: 1 hr ago

    RICHMOND, Va. (AP) — Tobacco company Lorillard says its first-quarter profit fell more than 17 percent as its costs rose, it sold fewer cigarettes and its year-ago results benefited lower expenses from a longstanding legal settlement. The nation's third-biggest tobacco company said Thursday...

  • Smart Spending: Get your groove on, on a budget

    Updated: 1 hr ago

    NEW YORK (AP) — As the air gets warmer and spring blossoms, the season of music festivals is upon us. From Bonnaroo Music & Arts Festival in Tennessee in June to Lollapalooza in Chicago in August, music lovers across the country will soon begin to flocking to festivals, which can draw hundreds...

  • Freeport-McMoRan beats expectations, shares rise

    Updated: 1 hr ago

    PHOENIX (AP) — Freeport-McMoRan's said Thursday that its first-quarter net income fell 21 percent, but the copper and gold mining company's results still beat Wall Street expectations, sending its shares higher. Net income fell to $510 million, or 49 cents per share, in the three months...

  • Marlboro maker Altria 1Q profit falls

    Updated: 2 hr ago

    RICHMOND, Va. (AP) — Altria Group Inc.'s first-quarter profit dropped 15 percent as the Marlboro maker sold fewer cigarettes and its year-ago results benefited from lower expenses from a longstanding legal settlement. The owner of the nation's biggest cigarette maker, Philip Morris USA, said...

  • US average rate on 30-year home loan 4.33 percent

    Updated: 2 hr ago

    Average U.S. rates on fixed mortgages rose this week at the start of the spring home-buying season.

  • Average US 30-year mortgage rate up to 4.33 pct

    Updated: 2 hr ago

    WASHINGTON (AP) — Average U.S. rates on fixed mortgages rose this week as the spring home-buying season has gotten off to a slow start. Mortgage buyer Freddie Mac said Thursday that the average rate for the 30-year loan rose to 4.33 percent from 4.27 percent last week. The average for the...

  • For airlines not named United, it was a great 1Q

    Updated: 2 hr ago

    DALLAS (AP) — Even with the turbulence of severe winter storms and stubbornly high fuel prices, many of the major airlines are cruising and their stock prices are soaring. On Thursday, American Airlines and Southwest Airlines reported record profits for the first quarter, usually the weakest...

  • Coal miner Peabody's 1Q loss more than doubles

    Updated: 2 hr ago

    ST. LOUIS (AP) — Coal miner Peabody Energy Corp. said Thursday its first-quarter loss more than doubled on weak prices, falling short of Wall Street expectations. The world's biggest private-sector company also predicted another loss for the current quarter. The coal industry in recent years...

  • Fetal tissue used to power Oregon homes

    Updated: 2 hr ago

    PORTLAND, Ore. (AP) — An Oregon county commission has ordered an incinerator to stop accepting boxed medical waste to generate electricity after learning the waste it's been burning may include tissue from aborted fetuses from British Columbia. Sam Brentano, chairman of the Marion County...

  • Cult brands showing proof of bourbon renaissance

    Updated: 3 hr ago

    Hoping to get your hands on a bottle of Pappy Van Winkle 23-year-old bourbon? Hope on. The wildly popular ultra-premium bourbon is legendarily difficult to find and when it is spotted — there's even a Pappy Tracker app for that — it's quickly sold out. And Pappy isn't the only...

  • Zimmer buying Biomet in deal valued at $13.35B

    Updated: 3 hr ago

    WARSAW, Ind. (AP) — Orthopedic device maker Zimmer is buying privately-held Biomet for about $13.35 billion in a move aimed at helping expand its product offerings and services. Even though it is the buyer, Zimmer shares rose more than 17 percent in morning trading Thursday. Shares of...

  • Southwest Airlines posts a record 1Q profit

    Updated: 3 hr ago

    DALLAS (AP) — Southwest Airlines Co. said Thursday that it made a record $152 million in the first quarter, more than doubling the $59 million it earned during the same time last year. The strong profit during a time of year that is traditionally the slowest for airlines is good news for the...

  • US durable goods orders up 2.6 percent in March

    Updated: 4 hr ago

    WASHINGTON (AP) — Orders to U.S. factories for long-lasting manufactured goods posted a solid gain for the second straight month in March. A key category that signals business investment plans increased at the fastest pace in four months. Orders for durable goods increased 2.6 percent in...

  • American Airlines swings to $480M 1Q profit

    Updated: 4 hr ago

    DALLAS (AP) — American Airlines is making money again and beating expectations after its merger with US Airways. The company posted earnings of $480 million Thursday, a record for the first quarter, which is usually the weakest three-month period for airlines during the year. As separate...

  • Ky. Senate candidate wants Keystone pipeline OK'd

    Updated: 4 hr ago

    FRANKFORT, Ky. (AP) — Democratic U.S. Senate candidate Alison Lundergan Grimes called on President Barack Obama to approve the Keystone XL oil pipeline, joining 11 incumbent Democrats as the party tries to keep control of the Senate this November. Grimes' statement Wednesday to The Associated...

  • Hershey's profit rises but sales fall short

    Updated: 4 hr ago

    NEW YORK (AP) — Hershey said its profit rose 4.4 percent in the first quarter but noted that sales growth was weaker than expected. The Hershey Co., which makes Kit Kat, Reese's and Ice Breakers, noted that there were "irregular purchasing patterns" at major retailers during the period in the...

  • UPS blames winter weather for drop in 1Q profit

    Updated: 4 hr ago

    DALLAS (AP) — First-quarter revenue at UPS slumped 12 percent as winter storms increased costs for the shipping giant and cut into its revenue. The Atlanta company said Thursday that the rough start to the year means that full-year earnings will come in at the low end of its earlier...



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