New reports put stock rally on hold
NEW YORK -- The stock market put its big rally on hold Tuesday after disappointing earnings and economic reports reminded investors of the obstacles still facing the economy. All the major indexes fell moderately.
Investors were unhappy with just about every major earnings or economic report Tuesday.
Procter & Gamble and Dow Chemical reported earnings and revenue that fell short of forecasts, and consumer spending and income figures showed that people are still very cautious with their money.
New BlackBerry unveiled for AT&T
NEW YORK -- The first BlackBerry that combines a touch screen with the device's signature full-alphabet keyboard is coming to AT&T stores Aug. 12. Research In Motion Ltd., the Canadian company that makes the BlackBerry, said the BlackBerry Torch will cost $199.
The keyboard slides out from underneath the screen. RIM's first touch-screen model, the Storm, lacked a keyboard and hasn't proved popular.
The Torch will be the first phone with an updated BlackBerry operating system that adds several features, most of which are already found on competing phones.
Whole Foods says sales trends strong
AUSTIN, TEXAS -- Natural and organic grocery chain Whole Foods Market said its third-quarter net income almost doubled to $65.7 million as sales rose 15 percent to $2.16 billion.
Also aiding the bottom line were lower spending on relocating, closing and leasing stores.
Whole Foods said its sales trends remain strong and it is gaining market share. Locally, the chain has one store, in Mount Pleasant.
Food firm to expand Lexington plant
COLUMBIA -- An Augusta company plans to expand its South Carolina operations, adding about 75 jobs. The S.C. Commerce Department said Tuesday that FPL Food will expand its processing facility near Columbia.
The company opened its Lexington County plant two years ago and expects to employ 150 people after the expansion.
FPL Food makes corned beef hash, marinated beef steak tips, preseasoned frozen beef patties, precooked roast beef and preseasoned ground beef.
Agreement reached on S.C. battery plant
COLUMBIA -- A Wisconsin-based battery maker and area environmental groups said they have reached a consensus on emissions from its recycling plant in South Carolina.
Johnson Controls said Tuesday that it worked with the Charleston-based Coastal Conservation League and the League of Women Voters of South Carolina to create the standards for its proposed plant near Florence.
The company makes lead-acid batteries for the automotive industry, and announced plans for the $150 million South Carolina facility in 2009.
The environmental groups had appealed air permits issued by South Carolina regulators. Spokeswomen for the groups said the company agreed to lower emissions and employ more monitoring.