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Business News

Business News


US Stocks ended slightly higher yesterday for the 3rd straight day as investors shrugged off mildly disappointing economic reports on inflation and the housing market.

FedEx's shares rose 4% this morning after the shipping company on Wednesday said its fiscal fourth-quarter profit rose to $730 million, or $2.46 a share, from $679 million, or $2.13 a share, a year earlier. Revenue ticked higher to $11.8 billion from $11.4 billion which was better than Wall St expected.(yahoo finance)

US Consumer prices recorded their largest increase in more than a year last month as costs for a range of goods and services rose easing the Federal Reserve's concern that inflation was running too low.(marketwatch.com)

AT&T will be the exclusive carrier for the new Amazon smartphone set to be announced today.  The Amazon phone will reportedly have a three dimensional display.  Shares of both companies rose on that news.(marketwatch.com)

The State of Oregon employment department reported Oregon's unemployment rate ticked up from 6.8% to 6.9% last month.  The rise in the unemployment rate came despite the Oregon economy adding 4,200 jobs in May.  The increase happened because more people ended the labor market.(Portland business journal)


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