Page 25 - Aruba Today
P. 25
BUSINESS A25
Friday 30 October 2015
Earnings fail to lift U.S. stocks
as economic growth slows
In this May 26, 2015 file photo, the Time Warner Cable corporate MARLEY JAY
logo is displayed at a company store, in New York. AP Markets Writer
NEW YORK (AP) — Stocks
Associated Press slipped Thursday after the
U.S. said economic growth
Time Warner slowed more than expect-
Cable plans for ed in the summer.
TV on the Internet A mixed batch of third-
quarter earnings reports
TALI ARBEL been testing for free Bos- didn’t inspire investors. Floor governor Nicholas Brigandi, center, and specialist Peter
AP Business Writer ton. Comcast spokesman Companies including res- Giacchi, right, announce the start of trading in Allergan, on the
NEW YORK (AP) — Hate Steve Restivo says the ser- taurant chain Buffalo Wild floor of the New York Stock Exchange,Thursday, Oct. 29, 2015.
your cable box? In a few vice, which is just broad- Wings and camera maker Allergan, which makes Botox, jumped 8 percent after saying it
weeks, Time Warner Cable cast networks and HBO, will GoPro plunged after re- has held talks with Pfizer about a sale.
is going to start testing in launch this quarter in a few leasing weak results.
New York City a cable ser- markets. The market was lower all Associated Press
vice that doesn’t need one Time Warner Cable’s TV day after the Commerce
and is delivered over their app is already available on Department said the econ- interest rates could rise. The share profits are also down
customers’ home Internet. a Roku or Xbox for cable omy cooled off in the sum- compared to last year.
“Where we’re headed is subscribers, who can use mer as businesses cut pro- yield on the 10-year Trea- GoPro slumped $4.59, or
the ability of customers to it in place of a 2nd cable duction and drew down 15.2 percent, to $25.62 af-
access the complete video box. If you had two TVs in their inventories. sury note rose to 2.18 per- ter the wearable camera
product without having to your house and one cable he department estimated maker reported disap-
rent a set-top box from us,” box, the app would serve that gross domestic prod- cent from 2.10 percent late pointing results for its most
said CEO Rob Marcus on a as a second cable box, just uct grew 1.5 percent, a bit recent quarter. It was the
call with analysts. He said without DVR functionality less than analysts had fore- Wednesday. lowest closing price for Go-
one thing the company or the ability to buy video- cast. Pro shares, which began
had to do was make sure on-demand movies. RBS senior economist Kevin The higher bond yields trading in 2014 and have
that every channel was With the new trial, Time Cummins said the report lost more than half their
available for an Internet Warner Cable is eliminating isn’t a major warning sign. pulled buyers away from value since mid-August.
TV alternative that worked the need for that first cable In his view, consumers are Deutsche Bank said it lost
through a streaming-TV de- box, which usually comes spending more money income-producing invest- about $6.6 billion in the
vice like a Roku. with a monthly fee for cus- because gas prices have third quarter. The com-
Marcus said ditching the tomers, and throwing in a tumbled, and the labor ments. Utility stocks in the pany says it will sell busi-
box would make it easier free Roku. It’ll have a cou- market is doing well even nesses that employ about
for the company to set up ple options for TV service though fewer people are S&P 500 index slid 0.6 per- 20,000 people and elimi-
cable for customers, and packages. in the workforce than in nate 15,000 other jobs in
you wouldn’t need a tech The New York company, years past. While jobs re- cent, far more than the rest an effort to improve profit-
to install it for you. “You can which Charter Communi- ports for August and Sep- ability. It also won’t pay a
simply type in your user- cations is trying to buy, said tember showed reduced of the market. dividend this year or next.
name and password and Thursday that cable cus- growth, Cummins expects The stock sank $2.42, or 8
you have video,” he said. tomers fell by 7,000 in the to see better results in Oc- Several companies percent, to $27.89.
That could appeal to July-September quarter, to tober. There were some big gain-
younger people who have 10.8 million. (Like Comcast, “The domestic economy dropped after releasing ers to be found, though.
grown comfortable watch- Time Warner Cable said is in pretty healthy shape Hanesbrands rose after the
ing TV via Netflix or Hulu. The that it was its best third- right now,” Cummins said. their reports. Buffalo Wild maker of underwear, socks
number of people skipping quarter result since 2006.) The Dow Jones industrial and t-shirts announced
cable service is increasing The company said that the average was down 23.72 Wings skidded $31.95, or strong third-quarter re-
as more people choose number of people sign- points, or 0.1 percent, to sults and raised its profit
the Internet for their video ing up and the number of 17,755.80. 17.3 percent, to $152.45 af- estimate for the year. The
fix. people who were leaving The Standard & Poor’s 500 stock gained $4.05, or 14.7
To try to capitalize on that both improved in the third index dipped 0.94 point to ter the restaurant chain’s percent, to $31.65.
trend, Comcast has a plan quarter, and that its inter- 2,089.41. The Nasdaq com-
in the works too, with a ser- nal measures of customer posite sank 21.42 points, or profit and sales fell short of The latest company to
vice called Stream that it’s service showed gains. q 0.4 percent, to 5,074.27. surge on talks of a possible
Those little losses weren’t expectations. Computer sale was Allergan, which
enough to undo the gains makes Botox. q
stocks made in the last hour networking company F5
of trading on Wednesday,
after the Federal Reserve Networks dropped after
voiced some confidence
in the economy by saying reporting disappointing
it might raise interest rates
in December. fourth-quarter revenue and
U.S. government bond
prices kept falling, push- first-quarter projections. The
ing yields higher as inves-
tors anticipated that U.S. stock lost $11.26, or 9.3 per-
cent, to $110.08.
While some companies
have gotten major bumps
after reporting good re-
sults, particularly in the tech
sector, this earnings season
hasn’t been great so far.
Most of the companies on
the S&P 500 have now dis-
closed their third-quarter
earnings, and S&P Capital
IQ says 52 percent of those
have reported lower-than-
expected revenue. Per-
