Business
NEWS IN BRIEF
J.B. Hunt’s widow sells 150,000 shares Johnelle Hunt sold 150,000 shares of J.B. Hunt Transport Services Inc. stock she owns indirectly through a limited liability company, J.B. Hunt LLC, on Tuesday. - Friday, May 9, 2008
Wal-Mart reports sales rise for April
BY STEVE PAINTER
Sales at Wal-Mart Stores Inc. rose in April more than Wall Street analysts expected, the company reported Thursday, citing strength in flat-panel TVs, video games, grocery items and over-the-counter medicines. - Friday, May 9, 2008
Milk board working on solutions to plight of struggling dairies
BY DAVID IRVIN
The state’s Milk Stabilization Board considered a direct-payment program Thursday to help Arkansas dairies, though it’s unclear how many producers will survive to see it. - Friday, May 9, 2008
State home sales slide for 27th month
BY DAVID SMITH
Home sales in Arkansas continued their downward spiral in March, as 23 percent fewer houses were sold compared with March last year, the Arkansas Realtors Association said Thursday. - Friday, May 9, 2008
‘Green’ practices pushed at meeting
BY LAURIE WHALEN
ROGERS — A crowd of trucking industry representatives were told Thursday that the definition of sustainability did not include hugging trees or wearing tie-dye headbands and T-shirts and flashing the peace sign. - Friday, May 9, 2008
India growth surges, economist says
BY STACEY ROBERTS
ROGERS — Doing business with India can have great challenges, but it also has great rewards, the senior international economist for the U.S. Department of Commerce told a group Thursday at the Arkansas World Trade Center. - Friday, May 9, 2008
Top 3 airlines raise round-trip fuel surcharge by $20
BY ADAM SCHRECK THE ASSOCIATED PRESS
NEW YORK — The three biggest U.S. airlines said Thursday that they have again raised ticket prices, this time by $20 a round trip, to recoup rapidly rising fuel costs. - Friday, May 9, 2008
MARKET REPORT : Wall Street ends day timidly upbeat
BY MADLEN READ THE ASSOCIATED PRESS
NEW YORK — Wall Street closed a quiet session with a moderate advance Thursday with energy and other commodities companies leading the market as oil prices extended their record-breaking run. - Friday, May 9, 2008
Earnings report
Companies reporting quarterly earnings on Thursday included: American International Group Inc., the world’s biggest insurer, a loss of $7.81 billion, or $3.09 a share, from a profit of $4.13 billion, or $1.58 a share, a year ago. Revenue for the quarter was not reported. Shares fell 93 cents to close at $44.15. - Friday, May 9, 2008
Entergy: Stormy ’08 proves PSC wrong
BY BILL W. HORNADAY
Entergy Arkansas Inc. strongly objected last year when state utility regulators limited its storm damage recoveries to $14.5 million a year. - Thursday, May 8, 2008
Senators grill beef executive over deal
BY DAVID IRVIN
The top manager of Brazilian-owned JBS-Swift and Co. faced tough questions Wednesday from U.S. senators over the company’s plan to buy two U.S. packers and a large cattle-feeding operation. - Thursday, May 8, 2008
Paulson sees credit crisis waning
BY JEANNINE AVERSA AND MARTIN CRUTSINGER THE ASSOCIATED PRESS
WASHINGTON — The worst of the nation’s credit crisis may have passed, Treasury Secretary Henry Paulson said Wednesday, though he acknowledged rising gas prices will blunt the effect of 130 million economic stimulus checks. - Thursday, May 8, 2008
Start-up firm ready to test video game to the limit
BY STACEY ROBERTS
A Eureka Springs-based start-up video game development company wants volunteers to test its first product before it’s released in August. - Thursday, May 8, 2008
Sprint joins cable firms in wireless Net venture
BY DAVID HO COX NEWS SERVICE
NEW YORK — An alliance of top technology and cable companies led by Sprint Nextel Corp. said Wednesday that it will invest billions of dollars to build a national wireless network that offers high-speed Internet access for people at home and on the go. - Thursday, May 8, 2008
Consumer borrowing jumps 7.2% in March
THE ASSOCIATED PRESS
Consumer borrowing rose in March at the fastest pace in four months, more than double the increase of the previous month, in what was seen as a sign of rising economic stress. - Thursday, May 8, 2008
MARKET REPORT : Wall Street slips, falls on gushing oil
BY TIM PARADIS THE ASSOCIATED PRESS
NEW YORK — Wall Street tumbled Wednesday as the price of a barrel of oil soared to a record near $124 and touched off concerns that the stock market’s recent gains might have been premature while consumers grapple with rising energy and food costs. - Thursday, May 8, 2008
3 companies report quarterly earnings
Companies reporting quarterly earnings on Wednesday included: q DirecTV Group Inc., the satellite television company, a profit of $371 million, or 32 cents a share, up from $336 million, or 27 cents a share, a year ago. Revenue rose 17 percent to $4.59 billion from $3.91 billion a year ago. Shares rose $1.21 to close at $27.01. q NCR Corp., the cash-machine maker, a profit of $48 million or 28 cents a share up from $34 million, or 19 cents a share, a year ago. Revenue rose 19 percent to $1.18 billion from $992 million a year ago. Shares rose 30 cents to close at $25.53. q Marsh & McLennan Cos. Inc., the insurance broker, a loss of $210 million, or 40 cents a share, down from a profit of $268 million, or 49 cents a share, a year ago. Revenue rose 8 percent to $3.05 billion from $2.81 billion a year ago. Shares rose 18 cents to close at $27.76. - Thursday, May 8, 2008
More firms turning to bankruptcy
BY DEMOCRAT-GAZETTE STAFF AND WIRE REPORTS
Business bankruptcy filings in the United States increased 49 percent in April from a year earlier, the biggest increase so far in 2008, as the slowing economy prompted more companies to shut down or seek protection from creditors. - Wednesday, May 7, 2008
Chrysler apart on gas-cap strategy
BY TOM KRISHER THE ASSOCIATED PRESS
DETROIT — Chrysler is offering to subsidize the cost of gasoline for car and truck buyers, but its biggest rivals — General Motors, Toyota and Ford — said Tuesday that they have no plans to match it. - Wednesday, May 7, 2008
Plans for rice cartel fall through
DEMOCRAT-GAZETTE PRESS SERVICES
BANGKOK, Thailand — Thailand is dropping plans to create a Southeast Asian rice cartel that would have fixed the skyrocketing price of commodity over food security concerns, the country’s foreign minister said Tuesday. - Wednesday, May 7, 2008
Bleeding, UBS to shed 5,500 jobs
BY ELENA LOGUTENKOVA BLOOMBERG NEWS
Swiss bank UBS AG, battered by $17.3 billion of first-quarter losses at its investment-banking unit, plans to cut 5,500 jobs and said clients withdrew a net $12.2 billion from its asset- and wealth-management divisions. - Wednesday, May 7, 2008
Microsoft walk riles investors at Yahoo
BY MICHAEL LIEDTKE THE ASSOCIATED PRESS
SAN FRANCISCO — When Yahoo Inc. holds its annual meeting July 3, many expect fireworks from irate shareholders seeking retribution for the company’s decision to remain independent instead of accepting a $47.5 billion takeover offer from Microsoft Corp. - Wednesday, May 7, 2008
MARKET REPORT : Stocks edge up despite lofty oil price
BY MADLEN READ THE ASSOCIATED PRESS
NEW YORK — Wall Street reversed early losses to close higher Tuesday as investors monitored the movements of record high oil prices but laid bets that the economy and companies are in recovery mode. - Wednesday, May 7, 2008
Earnings report
Companies reporting quarterly earnings on Tuesday included: Cisco Systems Inc., the networking gear maker, a profit of $1.77 billion, or 29 cents a share, down from $1.87 billion, or 30 cents a share, a year ago. Revenue rose 10 percent to $9.79 billion from $8.87 billion a year ago. Shares rose 5 cents to close at $26.33. - Wednesday, May 7, 2008
Wal-Mart offers 90-day generics at $10
BY STEVE PAINTER
Wal-Mart Stores Inc. expanded its drug-pricing program Monday to offer 90-day supplies of about 350 of the most commonly prescribed generic drugs at $10. - Tuesday, May 6, 2008
Pilgrim’s Pride cites feed costs for losses
BY DAVID KOENIG THE ASSOCIATED PRESS
DALLAS — Pilgrim’s Pride Corp., the nation’s largest chicken producer, said Monday its second-quarter loss widened from a year ago as it paid more for feed and took a restructuring charge. - Tuesday, May 6, 2008
State farmers get late start on crops
BY NANCY COLE
SHERRILL — Flooding, persistent rain and cool weather have delayed spring planting by many Arkansas farmers. - Tuesday, May 6, 2008
Oil futures pass $120 on threats to supply
BY JOHN WILEN THE ASSOCIATED PRESS
NEW YORK — Oil futures surged to a record of more than $120 a barrel Monday, raising concerns about higher prices for gasoline and goods and services throughout the economy. Retail gas prices fell more than a cent over the weekend, but oil’s advance increased the likelihood that pump prices will resume their climb. - Tuesday, May 6, 2008
Chicken, pork to lead rising costs
DEMOCRAT-GAZETTE PRESS SERVICES
Americans will experience a rise in food inflation this year, likely from higher prices for chicken and pork. - Tuesday, May 6, 2008
MARKET REPORT : Dow falls 88.66 on oil, Yahoo reports
BY TIM PARADIS THE ASSOCIATED PRESS
NEW YORK — Wall Street pulled back Monday after Microsoft Corp.’s decision to withdraw its bid for Yahoo Inc. and as oil prices rose to a record of more than $120 a barrel. - Tuesday, May 6, 2008
