Arkansas Business: Apple stocks rise on Tuesday

    7:36 AM, Aug 14, 2013   |    comments
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    LITTLE ROCK, Ark. (Arkansas Business) - Wall Street had tiny gains Tuesday, some of that was driven by a gain in retail sales for July.

    The Commerce Department said "core" retail sales, which exclude volatile auto, gas and building supply categories, rose by zero-point-5 percent in July. That's the biggest gain since a similar increase in December.

    Analysts said the report shows acceleration in how consumers are spending after modest gains in employment, stock prices and house prices.

    Apple stocks rise on Tuesday

    Other stocks on the move include shares of Apple after activist investor Carl Icahn said he has a large position in Apple and was urging the company to buy back more of its own stock.

    Airline stocks down after merger challenged

    Airline stocks slumped after the Justice Department challenged the proposed merger between US Airways and American Airlines.

    Baxter County boat builder expands

    A Baxter County boat company that has been producing fishing boats for more than 40 years is expanding and adding about 20 new employees.

    Bass Cat and Yar-Craft boats are expanding into a 30,000-square-foot building across the street from the original Bass Cat factory.

    Company officials say the firm will have 120 workers once the expansion is up to speed. The expansion is expected to be complete by the end of September.

    The company is spending more than $1 million on the expansion, which will increase production capacity by 50 percent.

    Hogs among top-10 in licensing sales

    University of Arkansas athletics finished in the top 10 of Collegiate Licensing Company's best-selling schools for the first time ever.

    Royalties from sales of Razorbacks apparel and other merchandise were strong enough that the UA finished No. 10 on CLC's annual list.

    Arkansas ranked in the Top 10 for each quarter of the 2012-13 fiscal year.

    The UA is among six Southeastern Conference schools to make the Top 10, others are Alabama, Kentucky, LSU, Florida and Georgia.

    A UA athletics spokesman said the ranking is proof that the Razorbacks are strengthening their reputation as a regional and national brand.

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