Stocks rebound on Wall St.; Tiffany shines
New York - Stocks recouped their losses from the day before as investors looked through the latest corporate earnings news.
The market held steady after the Federal Reserve released minutes from its latest policy meeting. Tiffany jumped 9 percent after the jewelry seller said its earnings spiked 50 percent in the first quarter. Netflix rose 5 percent after saying it would expand its streaming video service into Europe this year.
The Dow Jones industrial average rose 158.75 to 16,533.06. The S&P 500 added 15.20 to 1,888.03. The Nasdaq composite gained 34.65 to 4,131.54.
AAA: Gas higher but S.C. holiday travel up
Gas prices are up an average of 22 cents a gallon compared with a year ago, but AAA-Carolinas estimates almost 452,000 South Carolinians will take to the highways this Memorial Day weekend.
The Charlotte motor club reports that the number of travelers is almost 2 percent more than last year and will be the highest number of drivers in nine years.
AAA says the top destinations for those driving will be Myrtle Beach, Charlotte, Gatlinburg, Tenn., and Williamsburg, Va.
The average price for a gallon of gas in the state is $3.46 a gallon. The cheapest gas can be found in the Spartanburg area at $3.41 a gallon, with the most expensive in Myrtle Beach with a price of $3.50 per gallon.
EBay to users: Change passwords after breach
NEW YORK - E-commerce site eBay is asking users to change their passwords after a cyberattack compromised a database containing encrypted passwords.
The company says there is no evidence of any unauthorized activity and no evidence any financial or credit card information was stolen.
EBay says its investigation is active and it can't comment on the specific number of accounts affected, but says the number could be large, so it is asking all users to change their passwords. EBay had 145 million active users at the end of the first quarter.
Cyberattackers stole a small number of employee log-in credentials that gave access to eBay's corporate network, the company said.
Lowe's 1Q profits rise but miss expectations
MOORESVILLE, N.C. - Home-improvement retailer Lowe's fiscal first-quarter net income climbed 16 percent to $624 million, bolstered in part by a lower tax rate.
But revenue and profits adjusted to exclude the effect of one-time items missed estimates as poor weather kept customers from stores during the start of spring. Nonetheless, Lowe's raised its full-year earnings forecast Wednesday.
PetSmart halting sales of treats made in China
NEW YORK - PetSmart is the latest major pet food retailer to say it will stop selling dog and cat treats made in China because of ongoing fears that they are making pets sick. The company plans to have the treats off all store shelves by March.
FDA investigators haven't been able to prove that treats made in China are making pets ill. But since 2007, it has received more than 4,800 complaints of pet illnesses and more than 1,000 reports of dog deaths after eating Chinese-made chicken, duck or sweet potato jerky treats.
Petco said Tuesday it would remove all Chinese-made treats from its stores by year's end.
Yellen hails Bernanke's firm handling of crisis
NEW YORK - Federal Reserve Chair Janet Yellen invoked predecessor Ben Bernanke as an example of standing firm under pressure.
Yellen told graduates at New York University's commencement Wednesday that Bernanke, who was raised in South Carolina, demonstrated the grit needed to stabilize the financial system and restore economic growth after the 2008 financial crisis.
She told the students that they also would face moments in life when standing up for what they believe "can make all the difference." Her speech drew cheers at the ceremony at Yankee Stadium.
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