U.S. stocks: Early gain fades on Wall Street
NEW YORK - Stocks closed slightly lower after an early rally faded away. Health care stocks fell the most. Security software maker Symantec plunged after firing its CEO, and Nike fell after warning of softer sales.
The Dow Jones industrial average fell 28.28 to close at 16,302.77. The S&P 500 index dropped 5.49 to 1,866.52. The Nasdaq fell 42.50 to 4,276.79.
Wal-Mart's online tool shows its rivals' prices
NEW YORK - Wal-Mart has rolled out an online tool that allows shoppers to compare its prices on 80,000 food and household products to those of its competitors. It began offering the feature on its website last month in seven big cities.
The move by Wal-Mart, which has a long history of undercutting competitors, could change the way people shop and how other retailers price merchandise.
Shrimp costs take toll on Red Lobster profit
ORLANDO, Fla. - A spike in shrimp costs is causing yet more trouble for Red Lobster.
The chain's parent company Darden Restaurants on Friday reported a lower quarterly profit in line with previous estimates. Sales at its struggling Olive Garden and Red Lobster chains dropped by 5.4 percent and 8.8 percent, respectively.
Another factor weighing on Red Lobster was higher shrimp costs. Executives said that costs in the quarter rose about 30 percent because of "production issues in Asia."
New mobile pay option is coming to Wendy's
NEW YORK - Wendy's is rolling out a program that lets customers pay using their smartphones, following similar plans unveiled by Burger King earlier this week.
Wendy's has been testing the option over the past year and said the majority of its roughly 5,800 U.S. locations are now ready to accept the payments.
The move reflects a push by fast-food chains to court younger customers. Burger King plans to offer a mobile payment program at U.S. restaurants in April.
E-Trade's talking baby goes bye-bye from ads
NEW YORK - The E-Trade baby will finally stop talking.
In the investor site's new ad, the baby is upstaged by a cat named Beanie that sings. The tot quits in disgust at the end.
E-Trade began its "talking baby" campaign in 2008 during the Super Bowl, at a time when online investing was relatively rare. But six years later, online investing is common.
CEO Barra to testify at hearing on GM's recall
WASHINGTON - General Motors CEO Mary Barra will testify next month at a hearing by a House panel investigating the delayed recall of 1.6 million small GM cars.
The House Energy and Commerce Committee panel will hear Barra's testimony April 1.
Notice about comments:
The Post and Courier is pleased to offer readers the enhanced ability to comment on stories. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We ask that you refrain from profanity, hate speech, personal comments and remarks that are off point.