Dow Jones Drops 170 Points; Companies Fail to Meet 4Q Projections
Stocks end down today, with the Dow Jones ending the day dropping more than 170 points. The stocks stumbled after investors ponder the effects of the jobs report released on Friday and as many companies concerns are growing about failing to meet their fourth quarter projections. SodaStream (SODA) shares fell a whopping 24% today after failing to meet their profit target for the fourth quarter. Pizza Hut (YUM) is testing a new way to sell pizza to keep up wit its many competitors.In two locations Pizza Huts will begin selling pizza by the slice, showing that even established restaurant brands are trying to reinvent themselves in this competitive and ever changing market. The Detroit Auto Show began and it was announced that General Motor's (GM) Chevrolet Corvette received the title of North American Car of the Year. Chevrolet's Silverado also won Truck of the Year, creating a sweep for General Motors
Word on the Street
- More retailers hit with security breaches over the holiday shopping season.
- Microsoft (MSFT) aims to deliver Office 365 to more small businesses.
- Facebook (FB) acquires yet another company, Branch Media.
- Snapchat claims an increase in spam is unrelated to recent data breach.
- Hewlett-Packard (HPQ) announces they will introduce a smartphone...is it too late?
- Groupon (GRPN) purchases "flash-sale" retailer ideeli for $43 million.
- PharMerica (PMC) buys BGS Pharmacy Partners, forecasts solid 2014.
Published on Jan 13, 2014By InvestorGuide Staff