Morning business headlines
Thursday, June 13, 2013 10:28 AM
DuPont cutting earnings projection due to wet spring weather
DuPont Co. cut its operating profit per share forecast by 10 percent for the first half of this year, based on wet weather in the United States and Europe that will reduce crop yields, reports Bloomberg. DuPont owns Iowa-based DuPont Pioneer.
Another volatile day predicted for stock market
The U.S. stock market continued volatile ups and downs Thursday, bolstered by two positive monthly government economic reports this morning, but also reacting to European and Asian stock market market drops fueled by international worries about when the U.S. Federal Reserve will begin curtailing stimulus measures, reports CNNMoney.
Gannett diversifies, doubles TV holdings with Belo purchase
Gannett Co. Inc., the nation's largest newspaper chain and the parent company of The Des Moines Register, will purchase television company Belo Corp. for $1.5 billion, reports The New York Times. The purchase adds more than 20 television stations to Gannett, which diversifies the media company's revenue streams, now based largely in the troubled newspaper industry.