Dow Jones Stumbles; P&G's Net Income Falls 16%
The Dow Jones dropped 318 points today and the Dow ended the day below 16,000 for the first time in months. Despite all of JP Morgan's (JPM) legal woes and fines this year its CEO, Jamie Dimon, received a 74% increase in his salary for 2013, providing him with $20 million in compensation for the year. Microsoft (MSFT) beat Wall Street's predictions for the company's second-quarter sales and profits, driven by sales of its Xbox One console and and increase of purchases of its tablets during the holiday shopping period.Have we hit the automotive saturation point? A report from IHS Automotive warns that globally there are too many cars and not enough space, but it is more evident in the BRIC nations. Procter & Gamble's (PG) second-quarter net income fell 16%, citing that it faced a tougher market this year in comparison to past years. But the world's largest consumer products maker did exceed Wall Street's expectations based on its adjusted earnings.
Word on the Street
- JP Morgan's (JPM) CEO awarded a 74% raise.
- Starbucks (SBUX) is releasing an app that will let you order ahead of time.
- BP still struggles 4 years later to put the oil spill behind it.
- A lot of celebrities will be appearing in Super Bowl Ads this year.
- Multiple Google (GOOG) services went down this afternoon.
- Netflix (NFLX) stock surges on subscriber growth, earnings.
Published on Jan 24, 2014By InvestorGuide Staff