USPS Posts a $1.9B Loss in Q1; Apple Reportedly to Acquire Beats

By: , dated May 9th, 2014

Stocks ended the day up as Nasdaq snapped a three-day losing streak and the Dow Jones ended the day at a new all-time high. USPS posted a first quarter loss of nearly $1.9 billion, making it the 20th time in the last 22 quarters that USPS posted a loss. After raising the monthly subscription price overseas, the price increase has now hit America. Netflix (NFLX) announced that starting Friday the subscription price will increase by $1 to $8.99 a month. It looks like Apple (AAPL) will be purchasing headphone maker and music company Beats Electronics for $3.2 billion. The acquisition could be finalized as early as next week.

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