Arkansas Business: Windstream earnings down

    6:52 AM, Nov 8, 2013   |    comments
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    (Photo: Thinkstock)

    Lance Turner with Arkansas Business provided a rundown of this morning's top business headlines:

    Federal impact on stocks
    The government reported Thursday that the economy expanded at an annual rate of 2.8 percent from July through September, which is up from a 2.5 percent annual rate in the second quarter.
    The growth was nearly a full percentage point stronger than most economists predicted.
    But still, the stocks dropped.
    The good economic news made investors worry that the Federal Reserve might now think it's okay to start pulling back on its economic stimulus next month.
    The Fed's stimulus efforts have resulted in cheap money for borrowers and that's powered this year's big run up in stocks.

    Twitter shares debut
    Shares of Twitter debuted on the New York Stock Exchange yesterday, closing at $44.90, up 73% on its first day of trading.
    That performance was much better than expected and values the six-year-old company at around $30 billion -- that's on a level with companies including the owners of the John Deere tractor company.
    The performance also left some analysts wondering whether Twitter should have priced its shares even higher -- perhaps $30 instead of $26.

    Windstream Corp. earnings
    The latest financial snapshot from Windstream Corp. of Little Rock was released Thursday.
    The telecommunications firm reported third-quarter net income of $31 million, down 34 percent from the same time last year.
    The firm missed analysts' predictions for earnings per share and revenue, which came in at $1.5 billion.
    Still, the firm is touting growth in its consumer broadband and revenue from business clients.

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