Bonnie Petrie

Business and Money at :25 and :55 Thursday Preview #Hounews

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Behind the scenes in the News92 FM Newsroom/Photo credit: Brent Clanton

Behind the scenes in the News92 FM Newsroom/Photo credit: Brent Clanton

Wall Street catches its first two-day stretch of gains since the Federal Reserve issues a timetable for trimmin economic stimulus a week ago.
The Dow jumped 150 points–1%–to 14,910.
The Standard & Poor’s 500 also rose 1% to 1,603.
The Nasdaq gained 28-points, worth .9%, to 3,376.

How does yesterday’s Supreme Court ruling on Gay Marriage affect Texas businesses?
It doesn’t.
Texas does not recognize gay marriage; the Supreme Court ruling applies only to states in which same-sex marriages are recognized.

Compass Bank is closing seven Houston-area branches as part of a larger plan to eliminate 16 branches in Texas.

Some smaller banks are intentionally holding their assets below the $10-billion mark to avoid facing limits in debit card surcharges.

Double earnings for Smith and Wesson, one of the nation’s foremost gun manufacturers.
First quarter profits rose to $25.2-million from $12.5-million a year ago.

General Motors will invest $691-million in its assembly plants in the Mexican cities of Silao, San Luis Potosi and Toluca.
The new factory in Silao will manufacture 8-speed transmissions.

Dish Network Corp. is withdrawing its offer to buy Clearwire Corp. for $4.40/share after Sprint raised its bid to buy the portion of Clearwire that it does not already own to $5 per share.
Clearwire’s board recommended that shareholders accept the new offer, after previously endorsing Dish’s offer.

Apple could be putting fingerprint readers in future iterations of its iPhones.
The company has filed a patent for biometrics after buying a company last year that makes the technology.

The government is fining Delta Air Lines $750,000 for bumping some passengers involuntarily, without offering compensation or seeking volunteers first.

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