Business News

Three Stocks Account for Half the Dows Decline From Records

Markets sold off for the 3rd straight day on Wednesday as the lack of economic growth overseas and the ripple impact of collapsing oil weighed heavy.  But you have to break things down to understand what is really going down.  In the last three trading days the Dow Jones Index is off just a little over 2% from its all-time highs.  Half the decline is due to just three stocks-- Exxon Mobile, McDonalds and Boeing.  This tells us so far this minor correction is shallow and contained. (CNBC)

November retail sales were up 0.7%, much better than expected. Lower gas prices are helping the consumer. (Bloomberg)

Costco posted quarterly profits 16.7% higher than last year on impressive comparable-store sales. Sales and membership fees climbed 7.4%. Costco currently operates 671 warehouses, with 474 in the US and Puerto Rico, 88 in Canada, 34 in Mexico, 26 in the United Kingdom, 20 in Japan, 11 in Korea, 10 in Taiwan, 7 in Australia and 1 in Spain. (Zacks)

Yum Brands, owners of Pizza Hut and KFC, lowered its profit forecast for the year for the second time, hurt by slower-than-expected sales recovery in China. The company expects full-year profit growth to be in mid-single-digits for 2014 and 10% growth in 2015. (Reuters)
 

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