NEW YORK — The market closed roughly flat Thursday, underwhelmed by encouraging jobs news but unrattled by worrisome developments in the global economy.
In the morning, a government report of fewer jobless claims carried the market higher. The Dow Jones industrial average rose as much as 83 points, shrugging off a widening U.S. trade deficit, higher unemployment in Greece and a ratings cut for Spain. By late afternoon, the rally sputtered.
The Dow finished down 18.58 to 13,326.39. The S&P 500 inched up 0.28 to 1,432.84. The Nasdaq fell 2.37 to 3,049.41.
Shares of the Bank of South Carolina Corp. jumped Thursday as its third-quarter profit slipped about 5 percent.
The Charleston-based lender said it earned $893,662 for the latest reporting period, or about $43,000 less than during the same three months of 2011. Year to date, profits are up almost 14 percent to more than $2.67 million.
“Although loan demand remains flat, the contribution from our mortgage department has been outstanding,” said Fleetwood S. Hassell, CEO.
Shares of the Bank of South Carolina closed $1.15, or more than 11 percent, to $12. The bank recently announced it will pay a quarterly cash dividend of 11 cents a share.
DALLAS — Just weeks ago, American Airlines was working its way through bankruptcy court, on schedule for one of the fastest turnarounds in aviation history. Planes were full. Revenue was pouring in. Then seemingly overnight, American became the butt of jokes from Facebook to late-night TV.
A slowdown that American blamed on pilots caused massive delays and cancellations. Then rows of seats came loose on a few planes. Passengers wondered if they’d get where they were going on time — and in one piece.
Some travel experts advised booking on other airlines to avoid getting stranded on American.
NEW YORK — Wendy’s pigtails are getting a trim. For the first time since 1983, the fast-food company is updating its logo in a move intended to signal its transformation into a higher-end burger chain.
Instead of the boxy, old-fashioned lettering against a red-and-yellow backdrop, the pared-down new look features the chain’s name in a casual red font against a clean white backdrop. An image of the smiling, cartoon girl in red pigtails floats above — though this girl looks not quite as childlike.
NEW YORK — Billionaire investor Carl Icahn wants to make an unsolicited bid for truck maker Oshkosh Corp. that values the company at almost $3 billion. Icahn says he also plans to nominate his own slate of directors in a bid to control the company.
Icahn had sought seats on the board unsuccessfully last year. He said management has taken a passive attitude toward the company’s future and he wants it to be more active.
WASHINGTON — Average U.S. rates on fixed mortgages ticked up from record lows last week. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan increased to 3.39 percent from 3.36 percent. The average on the 15-year fixed mortgage edged up to 2.70 percent, from last week’s record low of 2.69 percent.
Staff and wire reports