The Other Side of Life 24/7: 04/16/14

Wednesday, April 16, 2014

Daily Investor Briefing: Wall Street ends higher after...

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04/16/2014

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Wall Street ends higher after Yellen's comments

NEW YORK (Reuters) - U.S. stocks rose 1 percent on Wednesday, advancing for a third straight session as Federal Reserve Chair Janet Yellen reaffirmed the central bank's commitment to keeping interest rates low. Yahoo's shares rallied, giving a boost to the S&P 500.

Google first-quarter revenue misses Wall Street targets

SAN FRANCISCO (Reuters) - Google Inc's Internet business revenue grew 19 percent in the first quarter, falling short of Wall Street targets as the price of its online ads continued to decline.

IBM revenue misses estimates as hardware sales fall

(Reuters) - International Business Machines Corp reported lower-than-expected quarterly revenue as weakness in its storage and server businesses continues to offset gains in its software services.

American Express profit rises 12 percent

(Reuters) - American Express Co reported a 12 percent rise in quarterly profit as its credit-card customers spent more in a recovering U.S. economy.

U.S. industry shows some vigor, but housing soft

WASHINGTON (Reuters) - U.S. industrial production rose at a faster-than-expected clip in March, the latest sign the economy was gaining momentum.

Yellen says full U.S. employment coming into view, slowly

NEW YORK (Reuters) - Federal Reserve Chair Janet Yellen said on Wednesday the U.S. economy appeared to be slowly moving toward full employment, but that it would need help from the central bank for some time to come.

BlackBerry's meltdown sparks start-up boom in Canada's Silicon Valley

(Reuters) - The troubles at BlackBerry Ltd, which fired more than half its staff and lost more than 90 percent of its market value as consumers shunned its smart phones, might have spelled disaster for the company's hometown of Waterloo, Ontario. Instead, there are hot sports cars in the streets and new companies filling the refurbished office buildings.

Bank of America's mortgage crisis costs become a recurring problem

(Reuters) - Bank of America Corp's mortgage pain is lasting longer than expected, leading some investors to wonder if the massive expenses being incurred have become a recurring cost of doing business instead of being dismissed as one-time items.

Lululemon's status as yogawear's top dog at risk

NEW YORK (Reuters) - Still hurting from last year's see-through yoga pants debacle, Lululemon Athletica Inc is about to face a new headache: stepped up competition from rival yoga retailers, department stores and hot new brands.

AT&T threatens to sit out U.S. spectrum auction over rules

WASHINGTON (Reuters) - AT&T Inc has threatened to sit out a major U.S. auction of airwaves if regulators reserve some of the spectrum for smaller rivals, the No. 2 wireless company said in a filing released on Wednesday.