Industries «

    Intel chief’s magic words on PCs blunted by skeptics

    That statement by Intel /quotes/zigman/20392/delayed/quotes/nls/intc INTC -2.60% CEO Brian Krzanich ahead of its analyst conference call should have pushed the company’s stock up in after-hours trading. But instead, its shares fell more than 3%,even with the chip giant’s slightly better-than-expected fourth quarter revenue of $13.83 billion, versus Wall Street’s expectations of $13.7 billion. Follow live blog of Intel earnings call. There are two likely explanations. One, in recent weeks, a few firms have been upgrading the stock after the company’s positive reception at the big Consumer Electronics Show where Krzanich talked about the future of wearable computing and a new market for its chips, the Internet of Things, where every device is connected. The view among some is that, as J.P. Morgan...


    Hong Kong stocks rise as cement issues advance

    Hong Kong stocks rose at the start of trading Wednesday, with the Hang Seng Index /quotes/zigman/2622475/realtime HK:HSI -0.88% up 0.7% at 22,951.73. Mainland construction materials companies shined after some cement companies reported a profit increase for 2013. Anhui Conch Cement Co. Ltd /quotes/zigman/18499/realtime HK:914 -2.29% /quotes/zigman/530253/delayed/quotes/nls/ahchy AHCHY +4.09% advanced 4.4%, after it projected a 50% jump in net profit for last year. China Resources Cement Holdings /quotes/zigman/46540/realtime HK:1313 -1.65% climbed 4.9%, China Shanshui Cement Group Ltd. /quotes/zigman/41933/realtime HK:691 -3.61% rose 6.3% and Beijing-based cement producer BBMG Corporation /quotes/zigman/43768/realtime HK:2009 -1.46% gained 5.3%. Most mainland property shares underperformed the market,...


    U.S. stocks fall on disappointing earnings

    U.S. stocks closed generally lower on Friday as disappointing results from Intel Corp. and General Electric Co. weighed on sentiment. Investors also digested a mixed bag of economic data. The Dow Jones Industrial Average /quotes/zigman/627449/realtime DJIA +0.25% closed 41.55 points, or 0.3%, higher at 16,458.56 as gains in Visa Inc. and American Express Company lifted the index. The blue-chip index added 0.1% over the week, its first weekly gain this year. The S&P 500 /quotes/zigman/3870025/realtime SPX -0.39% finished the day down 7.19 points, or 0.4%, to 1,838.70 and was 0.2% lower for the week. The Nasdaq Composite /quotes/zigman/12633936/realtime COMP -0.50% shed 21.11 points, or 0.5%, to 4,197.58 but eked out a 0.6% weekly gain.


    Dropbox raises about $250 mln at $10 bln valuation

    Dropbox Inc. has closed on about $250 million in a funding round that values the online-storage provider at close to $10 billion, according to two people familiar with the deal. A BlackRock Inc. /quotes/zigman/249424/delayed/quotes/nls/blk BLK -0.33% investment fund is leading the deal, which is set to include previous backers, said one of these people, who declined to provide more detail. A spokeswoman for Dropbox didn’t respond to requests for comment. Bloomberg News/Landov Enlarge Image Dropbox co-founder and CEO Drew Houston. At $10 billion, Dropbox is now one of the most highly valued companies backed by venture capitalists. The company’s valuation has more than doubled since late 2011, when investors valued the San Francisco-based company at $4 billion. The company also got a higher...


    New and Noteworthy

    PowerShares has brought to NYSE Arca an exchange-traded fund that buys stocks of companies with a track record of generating solid profit for 100 years or more. The PowerShares NYSE Century Portfolio ETF is linked to the NYSE Century Index. Companies in the index have a market capitalization of $1 billion or more, trade on a U.S. exchange and have been incorporated in the U.S. for at least a century. (SmartBrief/ ETF Trends ) RBC Global Asset Management has introduced two emerging-market and two fixed-income mutual funds. The RBC Emerging Markets Equity Fund, the RBC Emerging Markets Small Cap Equity Fund, the RBC Short Duration Fixed Income Fund and the RBC Ultra-Short Fixed Income Fund are available to U.S. retail and institutional investors. (SmartBrief/ PlanAdviser.com ) Trading has begun for three...


    Morgan Stanley pledges higher dividends, buybacks

    Morgan Stanley /quotes/zigman/182639/delayed/quotes/nls/ms MS +4.38% on Friday pledged to increase shareholder dividends and stock buybacks in a bid to return cash to investors, but the bank stopped short of giving many details. In a note issued with fourth-quarter results, Morgan Stanley promised a “steady increase” in share buybacks “in the coming years,” and that it would “begin increasing (the) dividend reflecting stable earnings streams.” Big banks last week submitted capital plans to the Federal Reserve, which will decide whether to grant them permission to buy back their own stocks or pay out higher dividends to shareholders. Last year, in the initial submissions, Morgan Stanley did not ask for permission for either; instead it asked only for approval to buy...


    Boeing, Tesla: How altitude shapes attitude

    One of Japan Airlines’ new Boeing /quotes/zigman/220026/delayed/quotes/nls/ba BA +0.18% 787 Dreamliners is grounded at Tokyo’s Narita airport. It isn’t going anywhere until they figure out why its lithium-ion battery pack started smoking and oozing liquid. It’s really hard to imagine when spontaneous combustion on an airplane is a good thing. According to Reuters, the plane’s ground crew discovered the problem just a couple of hours before its next scheduled flight. No other damage was reported elsewhere on the aircraft and no one was hurt. And while there so far is no word on what caused the problem, Japan Airlines officials said alarms in the cockpit pointed to the power pack and its charger. If this sounds familiar, it should. It’s very similar to the battery pack fire a year ago on...


    Arctic-like conditions chill Midwest, Northeast

    In Chicago, the temperature hovered near 14 below zero and it felt like 36 below zero with wind chill, according to the Weather Channel. Further South, the temperature in Nashville, Tenn. fell to 10 degrees. In some places, it could feel as cold as 60 degrees below zero, the National Weather Service said. Washington, D.C., the nation’s capital, was a balmy 43 degrees by comparison and New York City had warmed up to 55 degrees just a few days after enduring its first major snowstorm of the year. Yet temperatures in both cities were expected to hit single digits by Tuesday morning. The Arctic-like cold front was also forecast to dump up to a foot of snow from the eastern Plains to the Great Lakes, with freezing rain over parts of northern New England and the northern mid-Atlantic areas. The snowstorm...


    Australia stocks edge lower ahead of China data

    Australia stocks meandered lower Monday, with miners among the few gainers ahead of key economic data from China, a critical export market for Australian firms. The S&P/ASX 200 /quotes/zigman/1653884/realtime AU:XJO -0.21% pulled 0.2% lower to 5,297.40, with BlueScope Steel Ltd. /quotes/zigman/304814/realtime AU:BSL -0.52% /quotes/zigman/304813/delayed/quotes/nls/blsff BLSFF -5.19% down 1.4%, grocer Wesfarmers Ltd. /quotes/zigman/181308/realtime AU:WES -0.53% /quotes/zigman/181307/delayed/quotes/nls/wfaff WFAFF +0.26% off 1%, and energy major Woodside Petroleum Ltd. /quotes/zigman/181325/realtime AU:WPL -0.82% /quotes/zigman/181323/delayed/quotes/nls/wopef WOPEF -1.10% down 1.5%. However, gains for gold futures late last week pushed Newcrest Mining Ltd. /quotes/zigman/182419/realtime AU:NCM +5.55%...


    Obamacare operations should have been centralized, expert contends

    The jury is still out on what went wrong with Obamacare’s HealthCare.gov web site, but one technology expert who had a hand in setting up several successful state exchanges says he thinks he knows what federal organizers could have done right. Sanjay Singh, chief executive of HCentive, a Reston, Va.-based health information technology consultant, says those who set up HealthCare.gov might have avoided a lot of headaches by adopting two critical philosophies: pick a software platform that you can trust and, most importantly, select a program figurehead to which everyone must be accountable. The home page for Connect for Health Colorado’s websiteSingh’s company was involved in setting up exchanges in Colorado, Kentucky and New York. All three were relatively trouble-free despite the fact that each...