Arkansas Business: Corporate earnings report leads to rising stocks

    7:30 AM, Feb 17, 2014   |    comments
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    LITTLE ROCK, Ark. (KTHV) -- Stocks rose as investors focused on company earnings and shrugged off a weak report on industrial production for January, attributing the slump to unusually cold winter.

    Companies including Cliffs Natural Resources and Campbell Soup were among the companies that rose after reporting earnings.

    In all now, the S&P has wiped out almost all its loss for the year after a big slump in January, and is now just 10 points below its record close of 1,848 reached Jan. 15.

    For the full week, the Dow and the S&P both rose 2.3 percent, and the Nasdaq was up 2.9 percent.

    New factory brings jobs to Osceola

    Officials in Osceola say a new manufacturer will build a $33 million facility and create 75 jobs there.

    Mayor Dickie Kennemore says Blue Oak Resources will start building its facility next month in Osceola.

    The company, based in California, removes precious metals from electronics that are being recycled.

    Kennemore says the new facility will be built on a 30-acre plot near the American Greetings factory in Osceola.

    Blue Oak Resources' board is chaired by John Correnti, who is leading the effort for the $1.1 billion Big River Steel mill, also to be built near Osceola.

    Arkansas economic officials head to Europe

    Arkansas economic development officials hope to make connections during a trip to Europe this summer in hopes of luring a new firearms manufacturer to the state.

    Members of the Arkansas Economic Development Commission will attend the Farnborough International Airshow in England this July.

    Tennille said that although recruiting within the aerospace industry is the main focus, the state also hopes to touch base with firearms manufacturers during the trip.

    Fort Smith is already home to Thermold Magazines, Umarex USA and Walther Arms, meanwhile a Remington Arms Company ammunition plant is expanding in Lonoke.

    Tennille said the Czech Republic has a growing industry for firearms accessories and that the state is looking for opportunities to bring a manufacturer to Arkansas.

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