Arkansas Business: Acxiom, Murphy Oil report earnings

    8:04 AM, Aug 1, 2013   |    comments
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    LITTLE ROCK, Ark. (Arkansas Business) -- The S&P ended the month 4.95 percent, that's the biggest increase since January, when it rose 5 percent. The Dow also logged its best month since January.

    U.S. economy grows slightly at 1.7 percent

    Wednesday, the Fed reaffirmed its commitment to support the economy in a statement released after the end of a two-day meeting.

    The central bank hinting that it might need to maintain its stimulus, and slightly downgraded its assessment of U.S. economic growth from "moderate" to "modest."

    On a related note, the government reported yesterday that the economy grew at a sluggish 1.7 percent in the second quarter.

    Arkansas real estate developer pleads guilty

    Former northwest Arkansas real estate developer Brandon Barber in court again, this time he agreed to plead guilty to three federal counts relating to schemes tied to banking and real estate in the region.

    Barber, 37, pleaded guilty to three counts: conspiracy to commit bankruptcy fraud, conspiracy to commit bank fraud and money laundering in exchange for the court dismissing 24 other counts against him.

    Barber also agreed to cooperate with investigators and possibly testify in court against others allegedly involved in the scheme.

    Barber has been in the Washington County jail for more than a month after his bond was revoked for repeatedly violating the terms of his release.

    He was arrested and charged in the case in March.

    Acxiom posts earnings report for fiscal 2014

    More Arkansas public companies reported earnings Wednesday.

    Acxiom Corp. of Little Rock reporting earnings of $13.1 million in its first fiscal 2014 quarter, down about 1 percent from the same quarter in 2013.

    Revenue was $266 million, a 2 percent drop from last year's $271 million. Still, Acxiom beat analyst expectations on earnings per share and revenue.

    Murphy Oil reports increase in quarterly revenue

    And Murphy Oil Corp. of El Dorado reported a 36 percent rise in second-quarter net income to $402.6 million.

    Revenue reached $7.2 billion, up slightly from $7.1 billion in the same quarter last year. The company beat analyst expectations of earnings of $1.55 per share.

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