LITTLE ROCK, Ark. (Arkansas Business) -- Stocks drift lower as Wall Street waits for earnings reports.
The Dow lost 55 points to 13-3-29 as the Nasdaq shed seven to 30-92. The S&P also in the loss column, down almost five.
Earnings reports for the last quarter are due to roll out this week. Investors looking at how factors such as Hurricane Sandy, the presidential election and the close-call over the fiscal cliff will affect those reports.
Alcoa, the aluminum maker, did start the season off with a bang, saying in its fourth-quarter financial results that it exceeded the revenue expectations of analysts while its earnings fell in line with what was predicted.
Alcoa, usually the first company to lead off with its quarterly earnings report, saw a two percent lift in late trading.
An energy company bowing out of the Fayetteville Shale:
PetroQuest of Lafayette, Louisiana says it's selling its Arkansas assets for $9.2 million.
Its wells pumped five million cubic feet of gas per day in 2012, mostly in Van Buren County, which was down from six million in 2011.
The buyer of PetroQuest's properties was not named.
Central Arkansas radio listeners will hear two new formats on their dial tomorrow:
Capital City Broadcasting will convert converting popular-music station K-Hits 96.5 FM into Fresh Talk, with a news and talk format. Fresh Talk 93.3 FM will go from being a news and sports station to being exclusively a sports station, one of three in the market.
The new talk line-up will include shows by Glenn Beck, Dennis Miller and the Central Arkansas debut of "The Mike Huckabee Show", the conservative talk show by Arkansas' former governor.
Architecture firm Polk Stanley & Wilcox won the recommendation from the Little Rock Advertising and Promotions Commission to renovate and expand the Robinson Center properties in downtown Little Rock.
Polk Stanley Wilcox's high-energy presentation included a discussion of remaking the north side of the Robinson Center to take advantage of the view from the replacement for the Broadway Bridge. Both Polk Stanley and the runner-up, Witsell Evans Rasco, led the commission in consideration of ways to better incorporate the bridge and the riverfront area just to the north of the 74-year-old performing hall.
City officials announced in June that they wanted to renovate the facility. The tentative completion date for the renovation is sometime in the Fall of 2016. The preliminary pricetage is $64.5 million.
(Source: Arkansas Business)