Business News

Earnings Induced Rally

AT&T's profits fell 4.3% to $3 billion as income taxes rose, but sales climbed 19% to $39.1 billion on the strength of wireless.  AT&T doubled its entertainment and Internet services -- up 96% to $10.9 billion -- thanks to its July acquisition of DirecTV. (USA Today)
Procter & Gamble sales were hurt by weak demand across all product categories and a strong dollar. P&G, which gets nearly two-thirds of its revenue from markets outside North America, was also hurt by a nearly 13% rise in the dollar. Profits rose 30% to $2.60 billion. Sales fell 12% $16.5 billion. Excluding the impact of currency sales fell 1%.
Pilots at UPS are set to announce the results of a strike vote. The union and UPS have been at odds since 2011 over wages and retirement benefits, with federal mediator stepping in last year. (CNBC)
Just 63 days till Christmas and Amazon is hiring 25% more seasonal workers this holiday season. Amazon plans to hire 100,000 persons at its more than 50 warehouses and 20 package sorting centers in the U.S. The company has hired about 25,000 full-time workers since August. (WSJ)

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