From the Wires
Amazon.com, Starbucks, Expedia are market movers
NEW YORK (AP) — Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market:
NYSE
Procter & Gamble Co., down $2.43 at $64.44
The maker of Bounty paper towels and Gillette razors said its third-quarter net income fell and it cut its guidance for the year.
Goodyear Tire & Rubber Co., down 61 cents at $11.32
The tire maker said it lost $11 million in its first quarter as refinancing charges more than offset the impact of higher revenue.
Nasdaq
Amazon.com Inc., up $30.86 at $226.85
Thanks to its best-selling item, the Kindle Fire tablet, the Internet retailer posted first-quarter profits that beat estimates.
Starbucks Corp., down $3.23 at $57.43
The coffee chain posted a full-year earnings guidance that missed expectations. It also said sales slowed in parts of Europe.
Deckers Outdoor Corp., down $17.63 at $51.83
The footwear maker said that warm winter weather hurt demand for its Ugg boots, pushing its first-quarter profit down 59 percent.
Expedia Inc., up $7.68 at $40.31
The online travel company posted a first-quarter loss, but its revenue climbed 12 percent and its results beat expectations.
Jazz Pharmaceuticals PLC, up $6.52 at $51.72
The Dublin-based drugmaker said that it will buy cancer drug maker EUSA Pharma Inc. in a deal worth as much as $700 million.
Ruth’s Hospitality Group Inc., down 7 cents at $7.19
The operator of Ruth’s Chris Steak House and other restaurants posted a $30.3 million loss as it repurchased preferred shares.
Romney shifting focus from economy to education
NEW YORK (AP) — Mitt Romney is wading into a new policy arena — the nation’s education system — as he broadens his focus to appeal to general election voters still getting to know President Barack Obama’s likely opponent.
The presumptive Republican presidential nominee, who has been reluctant to stray far from economic issues, is expected to outline a proposal for improving education in a speech Wednesday at the U.S. Chamber of Commerce in Washington.
Romney has offered few details for his plans on several key policy areas, including foreign policy, health care and education. He attacked Obama’s education policy while speaking to donors in New York City on Tuesday evening, previewing themes likely to play prominently in Wednesday’s speech.
Continue Reading CloseObama to address Air Force graduates in Colorado
COLORADO SPRINGS, Colo. (AP) — President Barack Obama is delivering his final commencement speech of the season, addressing graduates of the U.S. Air Force Academy before pivoting to political fundraising out West.
Obama is keeping up a presidential tradition of speaking to one of the service academies every year at graduation time.
His speech comes after a diplomatic flurry in which he hosted the NATO summit in Chicago, where allies cemented an exit strategy for the Afghanistan war, and an economically focused G-8 summit at the Camp David retreat in Maryland.
Continue Reading CloseInquiry hears of wider Secret Service misbehavior
WASHINGTON (AP) — The lawmaker leading an inquiry into the Secret Service prostitution scandal reported dozens of “troubling” episodes of past misbehavior Wednesday and appealed to insiders to come forward with what they know as investigators try to determine whether a culture of misconduct took root in the storied agency.
“We can only know what the records of the Secret Service reveal,” Connecticut Sen. Joe Lieberman said in opening the first Senate hearing into the matter. And those records, however incomplete, show 64 instances of allegations or complaints of sexual misconduct made against Secret Service employees in the last five years, he said.
Continue Reading CloseLoach’s whiskey expert brings Scotland to Cannes
CANNES, France (AP) — Charles MacLean is out of his element in Cannes, a town consumed by cinema and celebrity. His element is Scotch whisky — “uisge beatha,” he says, giving it its Gaelic name. The water of life.
MacLean is on a mission: He has brought the world of single malts to the French Riviera through his role as whiskey adviser and actor in Ken Loach’s Cannes competition film, “The Angels’ Share.”
The movie centers on a troubled Glasgow youth who tries to turn a talent for whisky-tasting into a ticket out of his dead-end life. MacLean plays a dramatized version of himself, a member of a select band of whiskey experts known as Masters of the Quaich.
Continue Reading CloseObama, Dems redoubling money efforts to keep edge
DENVER (AP) — President Barack Obama and his party are redoubling their fundraising efforts. They’re doing it in the wake of robust hauls by Republican rival Mitt Romney and a slew of GOP-leaning super PACs that are raking in cash from party faithful who are highly motivated to topple the Democrat.
Obama still has a significant edge, but it’s shrinking rapidly.
That explains why the president is plunging back into fundraising on Wednesday with a series of events in Denver and California’s Silicon Valley. He’s looking to stockpile cash to pay for his coast-to-coast organization, advertising to promote his message and get-out-the-vote operations in key states.
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