Business News

Earnings Continue Strong

Corporate earnings are on pace to post 8% to 9% gains in the 3rd quarter.  That is pretty good.  (LPL Research) The Federal Reserve starts a two day meeting this morning where they are widely expected to shut off their bond buying program. (Fox Business News)

September durable goods declined 1.3% following an 18.4% plunge in August. This index is very volatile, but this number will disappoint the market.   (Bloomberg)

DuPont, the biggest US chemicals producer, reported a 52% jump in profits as operating margins rose in five of its seven businesses.  Sales increased to $7.87 billion from $7.74 billion a year ago. (CNBC)

The luxury handbag maker Coach reported quarterly profits of $119.1 million on sales of $1.04 billion. Coach shares have dropped 36% since the beginning of the year, while the S&P 500 has increased 6%. The stock has decreased 28% in the last 12 months. (Associated Press)

Wal-Mart announced the launch of a certified preowned video game program in 1,700 stores nationwide, finally putting those games it has been offering store credit for over the last seven months back up for sale. Certified preowned games from the retailer will carry an average cost of $12 to $30 vs. a new title for today's consoles which can cost $60 or more. (CNBC)

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