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BUSINESS
February 7, 2014 | By Chris O'Brien
Chief Executive Tim Cook said Apple Inc. repurchased $14 billion of its stock over the last two weeks after a weak outlook caused its share price to plunge. In an interview with the Wall Street Journal, Cook said he was "surprised" by the 8% drop one day after the company's first-quarter earnings report. Apple projections for sales in the quarter ending in March were below what analysts had expected, and perhaps signaling its first year-over-year decline in revenue in more than a decade.
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BUSINESS
February 3, 2014 | By Ricardo Lopez
U.S. manufacturing slowed in January as new orders and inventories plunged, according to data released Monday by the Institute for Supply Management. The group's purchasing managers index dropped to 51.3 last month, down more than 5 percentage points from a 56.5 reading in December. It's the lowest index reading since May 2013.  Still, a reading above 50 indicates expansion.  "A number of comments from the panel cite adverse weather conditions as a factor negatively impacting their businesses in January," said Bradley Holcomb, chair of the Institute for Supply Management's Manufacturing Business Survey Committee.
BUSINESS
February 3, 2014 | By Andrew Tangel and Walter Hamilton
NEW YORK - A stream of negative economic reports has revived fear about the health of the U.S. economy, causing stocks to suffer their worst day in seven months and adding to a 7% decline since mid-January. Stocks were pounded by discouraging data released Monday on manufacturing, auto sales and construction spending. The disappointing U.S. reports rattled investors already uneasy over political and financial turmoil in emerging-market countries such as Turkey, India and South Africa.
BUSINESS
February 3, 2014 | By Andrew Tangel
NEW YORK -- First it was worries over China and other developing countries. Now investors have another reason to question the U.S. economy's growth.  The Dow Jones industrial average was down 224.64 points, or 1.4%, to 15,474.21 in mid-day trading in New York. The fall in stocks came after a report showed a slowdown in the U.S. manufacturing sector. The broader Standard & Poor's 500 index fell 29.78 points, or 1.7%, to 1,752.81. The technology-focused Nasdaq composite index lost 89.63 points, or 2.2%, to 4,014.25.
BUSINESS
February 3, 2014 | By Andrew Tangel
NEW YORK - The nation's top securities regulator halted the buying and selling of 255 stocks in what the agency called a "massive trading suspension" to curtail a persistent investor fraud. The U.S. Securities and Exchange Commission said Monday the suspensions - part of its "Operation Shell-Expel" - affects stocks of dormant companies based in 26 states and two foreign countries. The action is part of a broader crackdown on fraud involving shares of small, or "micro-cap," companies.
BUSINESS
January 31, 2014 | By Andrew Tangel
NEW YORK -- Stocks tumbled more than 1% in early trading as investors fretted over the strength of developing counties' economies. The sell-off also came as the Federal Reserve continues to scale back its massive injections of easy money into the financial system. Major U.S. indexes followed European stock markets into a steep slide in early trading on Wall Street. The Dow Jones industrial average dropped 207.71 points, or 1.31%, to 15,640.90. The broader Standard & Poor's 500 index fell 18.99 points, or 1.1%, to 1,775.20.
BUSINESS
January 31, 2014 | By Tiffany Hsu
If there was a winner among the piles of gifts given to children this Christmas, Barbie certainly wasn't it. The fashion doll - possibly the best-known player in Mattel Inc.'s stable of products - endured a 13% sales slide during the company's fourth quarter. "We just didn't sell enough Barbie dolls," Mattel Chief Executive Bryan G. Stockton said Friday in a conference call with analysts. Several other brands from the El Segundo toy maker also fared poorly. Fisher-Price, whose lineup focuses on infants and young children, also suffered a 13% revenue plunge.
BUSINESS
January 31, 2014 | By Walter Hamilton and Andrew Tangel
The stock market closed out its worst month in more than a year and a half as turmoil in the developing world sparked a broad decline in U.S. share prices. The Dow Jones industrial average slumped nearly 150 points to end January with a 5.3% drop, its worst monthly performance since May 2012. The Standard & Poor's 500 index lost 3.6% last month, though it is only back to where it was in mid-December. Investors have been unnerved by the ongoing plunge in emerging-market currencies, which has exposed economic strife in countries such as Turkey, India and South Africa.
BUSINESS
January 30, 2014 | By Jessica Guynn
SAN FRANCISCO -- Facebook's stock soared to a record high of $62.50 in midday trading Thursday, lifted by a wildly better-than-expected fourth-quarter showing, especially when it comes to clocking mobile advertising revenue. The giant social network, which turns 10 next week, said Wednesday that for the first time, more than half of its ad revenue came from mobile. And, at the end of 2013, more than three quarters of Facebook's 1.23 billion users logged in using their mobile devices at least once a month.
BUSINESS
January 30, 2014
Amazon's profit and revenue both grew in the latest quarter but its results fell below what Wall Street was expecting and shares of the world's biggest online retailer declined after-hours. Amazon has long focused on spending the money it makes to grow its business and expand into new areas, from movie streaming to e-readers and even grocery delivery. Investors have largely forgiven thin profit margins and zeroed in on the company's solid revenue growth and long-term prospects.
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