Yahoo’s 4Q report shows more signs of progress
SAN FRANCISCO (AP) — Yahoo showed more signs of progress during the fourth quarter as the Internet company took advantage of higher ad prices and rising earnings from its international investments to deliver numbers that exceeded analyst forecasts.
The results announced Monday covered Yahoo’s first full quarter under CEO Marissa Mayer. Yahoo Inc. lured Mayer away from Google Inc. in mid-July in its latest attempt to snap out of a funk that had depressed its revenue and stock price.
The company fared well enough in the final three months of last year to produce its first full-year gain in revenue since 2008.
Caterpillar sees uncertain 2013 after tough 4Q
MINNEAPOLIS (AP) — Caterpillar said on Monday that its 2013 profit could shrink if the world’s economy doesn’t pick up in the second half of the year, as mining companies and builders remain cautious about buying new gear.
The cloudy outlook for the year came as Caterpillar reported a fourth-quarter profit less than half as big as a year ago because of a deal in China that went bad and slower growth around most of the world.
Caterpillar Inc. is the largest maker of construction and mining equipment, so its performance rises and falls with the world’s economy. It tries to predict where the economy is headed so it knows how many excavators, bulldozers and mining trucks to build.
Boeing 787 probe shifts to monitoring system maker
TOKYO (AP) — The joint U.S. and Japanese investigation into the Boeing 787’s battery problems has shifted from the battery-maker to the manufacturer of a monitoring system.
Japan transport ministry official Shigeru Takano said Monday the probe into battery-maker GS Yuasa was over for now as no evidence was found it was the source of the problems.
Ministry officials said they will inspect Kanto Aircraft Instrument Co. on Monday as part of the ongoing investigation. It makes a system that monitors voltage, charging and temperature of the lithium-ion batteries.
Barnes & Noble executive plans more store closings
NEW YORK (AP) — Barnes & Noble plans to continue to shrink its store base.
The head of Barnes & Noble’s retail group, Mitchel Klipper, said in an interview published Monday in The Wall Street Journal that the company will have 450 to 500 stores in a decade. That’s down from about 689 currently.
Klipper said the chain plans to close about 20 stores a year over the period.
The largest traditional U.S. bookstore has been facing tough competition from online retailers and discounters
By The Associated Press(equals)
The Dow closed down 14.05 points, or 0.1 percent, at 13,881.93. The S&P 500 fell 2.78, or 0.2 percent, to 1,500.18. The Nasdaq composite index added 4.59, or 0.2 percent, to 3,154.
Benchmark oil rose 56 cents to finish at $96.44 a barrel on the New York Mercantile Exchange. Brent crude, used to price international varieties of oil, rose 20 cents to end at $113.48 a barrel on the ICE Futures exchange in London.
Wholesale gasoline rose 6 cents to finish at $2.94 per gallon. Natural gas fell 16 cents to end at $3.29 per 1,000 cubic feet. Heating oil rose about half a cent to finish at $3.06 a gallon.