New Jersey Business Report
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NEW YORK (AP) — Stocks have turned higher after opening mixed ahead of a report that signals further gains in the housing market as Facebook’s shares took another fall. An hour into trading, the Dow Jones industrial average was up 45 points, the Nasdaq had gained 13 and the S&P was 9 points higher.
WASHINGTON (AP) — Sales of previously owned homes gained ground in April, providing a hopeful sign that the weak housing market is gradually improving. The National Association of Realtors says home sales rose 3.4 percent last month to a seasonally adjusted annual rate of 4.6 million.
NEW YORK (AP) — The price of oil slipped to near $92 a barrel today in electronic trading on the New York Mercantile Exchange. The key influences on traders are concerns about global economic growth and news that Iran will allow the U.N. nuclear agency to restart a probe into its nuclear program.
MINNEAPOLIS (AP) — General Mills says it’s cutting about 850 jobs as part of a plan to lower costs and boost efficiency. The Minneapolis-based maker of Cheerios cereal, Natural Valley granola bars and Hamburger Helper says the moves will make it more effective and allow it to focus on key growth strategies.
MINNEAPOLIS (AP) — Best Buy says its fiscal first-quarter profit dropped 26 percent on restructuring charges as the struggling electronics retailer began implementing its turnaround plan. Its adjusted earnings and revenue both topped Wall Street’s expectations, briefly sending Best Buy shares higher in pre-market trading, but then they turned lower.
NEW JERSEY BUSINESS NEWS
lukewarm soup sales, with net income slipping by 5 percent in the
latest quarter even as the company spent more on marketing. The
Camden-based says its net income slipped by 5 percent in its fiscal
third quarter because of higher costs and sluggish sales. Campbell
earned $177 million in the three months ended April 29th. That
compares with a net income of $187 million in the same quarter last
year.
WASHINGTON (AP) — The Food and Drug Administration says a blood
thinner from Johnson & Johnson appears to reduce life-threatening
blood clots in high-risk patients, although it also increases the
risk of internal bleeding. The FDA posted its review of J&J’s
Xarelto for the new use ahead of a public meeting tomorrow where
medical experts will vote on its safety and effectiveness.
TRENTON, N.J. (AP) — New Jersey’s plan to allow casino patrons
to gamble while standing in line for dinner, in a lounge or beside
a swimming pool is moving closer to approval. A state Assembly
committee approved the bill yesterday, following similar action by
the state Senate in February.
TRENTON, N.J. (AP) — Federal labor officials want construction
companies in New Jersey to ensure that employees working above 6
feet have the proper equipment to protect themselves from falls.
The U.S. Department of Labor’s Occupational Safety and Health
Administration issued the call yesterday. It’s investigating four
recent accidents in northern Jersey, including one where a worker
fell through a roof into a vat of acid in Clifton, and another
where a worker fell from the roof of a residential construction
site in Bayonne.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
Jet Diverted To Maine Lands Safely May 22, 2012
Sen. Lautenberg Joins Stroller Brigade To Push Safe Chemicals Bill May 22, 2012
Christie To Attend Romney Fundraiser In New York [POLL] May 22, 2012
"Bully" Documentary – Free Screenings Next Week May 22, 2012
Dharun Ravi Sentence Aftermath: From The Newsroom May 22, 2012
Ohio Law Ends Labeling Of Pit Bulls As 'Vicious' May 22, 2012
Social Media's Impact On Small Businesses May 22, 2012
