Arkansas Business: Stocks fall by the end of the day

    7:19 AM, Nov 19, 2013   |    comments
    • Share
    • Print
    • - A A A +

    LITTLE ROCK, Ark. (Arkansas Business) -- Stocks surpass big milestones, only to lose most of their gains on Monday.

    The Dow Jones industrial average trading up 16,000 for the first time yesterday, the S&P reached beyond 1800.

    That's two big markers in a historic bull market. But by the end of day, both indexes had fallen below those levels.

    This, as investors continue to push stocks higher this year on a slowly improving US economy, record company profits and the Federal Reserve continuing its stimulus.

    Among the big stock moves yesterday: shares of Boeing rose 1.7 percent to $138.36, the biggest gain in the Dow, as the airplane maker booked $100 billion in orders at the Dubai Airshow.

    Tyson's Foods shows strong numbers

    Shares of Tyson Foods Inc. of Springdale also performing very well, up 2.3 percent to $29.42 after the meat processor reported fourth-quarter results.

    Tyson saying net income rose 41 percent to $261 million on higher sales of beef and chicken.

    Revenue also rose, up 7 percent to $8.8 billion.

    Tyson's results beating analyst predictions and prompting the company to raise its dividend by 50 percent.

    Tyson also announcing changes to its management structure, splitting apart its chicken and prepared foods divisions.

    It also announced that its chief operating officer, Jim Lochner, will retire in September 2014.

    He's been COO since 2009.

    Newport highway project to start soon

    Construction on a $31.4 million road and bridge project in Newport could start by the end of the year.

    The job involves rebuilding one mile of Highway 367 and building a two-lane White River bridge at Newport, that's according to the state Highway & Transportation Department.

    Construction is expected to be complete by the summer of 2016, construction will hopefully begin by the end of the year, weather permitting.

    The new bridge will be built just north of the site of the current bridge.

    Most Watched Videos