LITTLE ROCK, Ark. (Arkansas Business) -- Disappointing earnings from a range of companies pushed the stock market lower on Thursday, giving major indexes their third loss this week.
Stock prices of companies including Morgan Stanley, UnitedHealth Group and others sank after they turned in weaker quarterly results.
But compared with the steep drops earlier this week, the losses on Thursday looked tame. One analyst saying that one reason the market's seen a sudden turn might simply be that investors wanted to take some profits.
2 Ark. bank companies report earnings
Here in Arkansas, earnings season underway once again, with two Arkansas bank companies reporting earnings yesterday.
First, Home BancShares Inc. of Conway, the parent company to Centennial Bank, reporting first-quarter earnings of $17.5 million.
That's up 21 percent from the same time last year.
Company Chairman Johnny Allison notes that this marks the eighth straight quarter that the firm has reported record earnings.
Simmons First National Corp. reports 1st quarter results
Simmons First National Corp. of Pine Bluff is also reporting its first-quarter results.
The financial holding company reporting $5.9 million in profit, that's down 8 percent from the same time last year.
Still, the company's earnings were in line with analyst expectations. That company this week also signaling plans to seek more acquisitions to fuel growth.
Arkansas Literary Festival underway
And finally, the Arkansas Literary Festival is once again underway with events throughout the weekend.
I'll be moderating a panel on Saturday examining the business side of being an author.
That session includes authors Lela Davidson, Kevin Moffett, Jenni Baker and Beth Bayer. It begins at 2:30 p.m. at the Arkansas Studies Institute in the River Market.
You can learn more about all the sessions taking place throughout the weekend, along with a full schedule of events, at ArkansasLiteraryFestival.org.