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BUSINESS
January 29, 2014 | By Andrew Tangel
NEW YORK - Stocks slumped as worries over growth in the developing world continued to rattle investors ahead of an announcement Wednesday afternoon by the U.S. Federal Reserve. The Dow Jones industrial average was down 121.31 points, or 0.8%, to 15,807.25 in midday trading on Wall Street. The broader Standard & Poor's 500 index slid 8.48, or 0.5%, to 1,748.02. The technology-focused Nasdaq composite index fell 14.01, or 0.3%, to 4,083.96. Investors have become increasingly alarmed this year about the strength of economies in emerging markets as the Fed begins to scale back its massive monetary stimulus.
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BUSINESS
January 28, 2014 | By Chris O'Brien
With Apple's stock falling more than 8% at one point on Tuesday, activist investor Carly Icahn swooped in and bought another $500 million worth of shares.  "Just bought $500 mln more $AAPL shares," Icahn tweeted. "My buying seems to be going neck-and-neck with Apple's buyback program, but hope they win that race. " By mid-day trading, Apple's stock had recovered a bit to $ 509.63, a drop of $ 40.87, or  7.42%. Still, the tumble largely mirrors the reaction in after-hours trading Monday after an earnings report from Apple that showed the company sold fewer iPhones than expected during the holiday quarter.  PHOTOS: 10 ways to use the sharing economy In addition, the company said its revenue for the current quarter ending in March would be between $42 million and $44 million.
BUSINESS
January 27, 2014 | By Chris O'Brien, This post has been updated with the latest developments.
Apple reported iPhone sales Monday that fell well short of analyst estimates as well as guidance for the next quarter that also was lower than expected, sending the stock falling more than 5% in after-hours trading.  Apple said it sold 51 million iPhones in the first quarter of its 2014 fiscal year, which ended Dec. 28. That was a new record, up from 47.8 million last holiday season. But sales fell short of analysts' expectations that the company would sell 55 million iPhones in the quarter.
BUSINESS
January 24, 2014 | By Andrew Tangel
NEW YORK - Wall Street took a drubbing for the second straight day as investors worry that an economic slowdown in emerging markets could trigger a correction in stocks. The Dow Jones industrial average suffered a drop of 318.24 points Friday, the worst one-day plummet since June of last year. The blue-chip index has plunged almost 500 points during the two-day rout, and follows big drops in European and Asian markets. QUIZ: How much do you know about the Dow? Investors were rattled by a confluence of problems around the world: A dour economic report in China, political unrest in Turkey and financial turmoil in Argentina.
BUSINESS
January 24, 2014 | By Andrew Tangel
NEW YORK -- Stocks faced another broad selloff Friday as investors feared a slowdown in emerging markets and the Federal Reserve's move to scale back its easy-money policies. The Dow Jones industrial average was down about 200 points in midday trading on Wall Street, following sharp drops in other major stock markets in Europe and Asia.  The Dow at one point fell 203.56 points, or 1.3%, to 15,993.79 -- below the psychological milestone of 16,000 the index burst through during an epic rally last year.
BUSINESS
January 23, 2014 | By Tiffany Hsu
The stock of American Eagle Outfitters Inc. slumped Thursday in the wake of the abrupt resignation of the retailer's chief executive, Robert Hanson, who had held the post for almost two years. The teen apparel merchant said late Wednesday that Executive Chairman Jay L. Schottenstein, who was chief executive from March 1992 to December 2002, will temporarily fill the post. The company said it would start looking for a permanent replacement. Executive Creative Director Roger S. Markfield, who is also vice chairman, agreed to delay his planned retirement and continue in his roles, according to American Eagle.
ENTERTAINMENT
January 21, 2014 | By Joe Flint
After the coffee. Before getting my power steering fixed. The Skinny: Welcome back everyone who had a long weekend. Hope you got some rest. I watched the season premiere of Fox's "The Following. " Although it was well made I'm not sure if I can get on this ride again, but I will check out Episode 2 before making a final decision. Tuesday's headlines include the weekend box office recap. Also, is Netflix stock trading at an unrealistically high level? Daily Dose: If the NFL does move ahead with a new Thursday package of games, it may very well end up on a broadcast network.
BUSINESS
January 18, 2014 | By Andrew Tangel
The stock market shined last year with an epic rally. Now it's time for corporate America - and the economy - to catch up. Stocks ballooned 30% last year, as measured by the Standard & Poor's 500 index. But the average company in the broad index only increased annual earnings - the key driver of stock values - an estimated 5.2% as the economy grew sluggishly. For stocks to maintain their gains, market observers say, American companies will need to eke out solid, if not better, earnings growth this year.
BUSINESS
January 16, 2014 | By E. Scott Reckard
The wind-down of the bailout continues. The Obama administration has decided to sell about $3 billion of the government's common stock holdings in Ally Financial Inc., a former General Motors Corp. lending arm propped up with taxpayer assistance during the financial crisis. That would bring the recovery from Ally to $15.3 billion, or 89%, of the $17.2 billion bailout provided by the Troubled Asset Relief Program, the Treasury Department said Thursday in announcing its plan. QUIZ: big business news of 2014 The deal would involve unloading 410,000 shares of Ally common stock at $7,375 apiece in a private offering, the department said.
ENTERTAINMENT
January 16, 2014 | By Robert Abele
Cloying and smug when it's not being unfunny and crass, the high school reunion comedy "Back in the Day" hits lows with a frequency that suggests a world-class sharp shooter or free-throw king. With every thudding gross-out gag or mistimed bit of sentimentality, writer-director-star Michael Rosenbaum's movie acts as if it deserves a high-five. Instead, this aggressively clichéd tale of Jim (Rosenbaum), a struggling Hollywood actor attending his Midwestern high school reunion, is about as entertaining as watching two guys vomit simultaneously, to name one of the movie's prouder moments of dreary raunch.
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