NBR Thum

Tonight: Two big blue chips helped power the Dow Jones Industrial Average and their earnings results could be a proxy for the global economy.

Nightly Business Report — October 23, 2014

Tonight on Nightly Business Report, two big blue chips helped power the Dow Jones Industrial Average and their earnings results could be a proxy for the global economy. And, what’s behind Amazon’s weaker than expected quarterly results?


Today’s stock stories: PFE, PHM, LLY, DNKN, SHLD, KLAC & MXIM.

Joshua Lott | Bloomberg | Getty Images
File photo of a home for sale in Phoenix, Arizona.

First came a historic national crash in home prices, then a surprisingly sharp jolt off the bottom. Investors, desperate for yield and fueled by Fed-induced cheap cash, swarmed the most distressed housing markets, buying bargain-basement properties and turning them into rentals. Some markets saw double-digit annual price appreciation. Some analysts started to float the word …


A Bay Area tech company has been fined for paying workers $1.21 per hour. The company, Electronics for Imaging, flew eight employees from India to its headquarters in Fremont, Cali. where they worked 120-hour weeks helping install new computers, according to a report from NBC Bay Area. The workers were paid in their normal hourly …

Matthew Gush | Stock / 360 | Getty Images
Downtown Los Agneles

Los Angeles may be filled with stars, but right now its housing market isn’t one of them. After benefiting from robust investor interest for the past few years, home sales and prices are beginning to deflate. It is now taking significantly longer for sellers to get a contract. “The real estate market in Los Angeles …

Getty Images
Amazon.com founder and CEO Jeff Bezos speaks at a news conference on June 18, 2014, in Seattle, Washington

When online retail giant Amazon reports third-quarter earnings after the bell Thursday, investors will be looking for updates on a range of recent initiatives and acquisitions from the company that rarely turns a profit. Some pertinent questions: How much are its efforts to attract and retain customers hurting its earnings growth? Are small businesses adopting …

Nicholas Rigg | Getty Images

Consumers can expect a flurry of thick, credit-card-carrying mail as some banks attempt to get high-tech chip cards into their hands before the holidays. The catalyst: A series of high-profile security breaches at U.S. retailers caused an acceleration of a multi-year transition to the chip-and-pin technology. A year ago, credit card issuers thought the Europe-led …

Tim Boyle | Bloomberg | Getty Images
An employee arranges flat screen television inventory at the ABT Inc. warehouse in Glenview, Illinois.

A gauge designed to predict the economy’s future health rose in September, reversing the prior month’s sluggishness amid a broad-based pick up in economic activity. The Conference Board says its index of leading indicators rose 0.8 percent last month, the eighth straight increase. But that was much slower than the revised 1.1 percent gain in …


Early voting in midterm elections has already started in much of the country. And by this stage of a campaign estimated to cost $4 billion, how the votes are likely to fall is coming into focus. Republicans like what they see. Democrats don’t. So let’s take a look. President Barack Obama’s Democratic Party, which now …

Justin Solomon | CNBC
Satya Nadella, CEO of Microsoft Corp.

Microsoft’s CEO Satya Nadella is finding a surprising fanbase among developers for his concerted push to forge partnerships and expand the cloud ecosystem. But getting investors excited largely depends on limiting the damage elsewhere. In his third earnings report since taking the reins from longtime chief Steve Ballmer in February, Nadella will surely tout his …

Daniel Acker | Bloomberg | Getty Images

Caterpillar reported a quarterly profit that soared past Wall Street expectations on Thursday, with the CEO attributing that strength to internal operational efficiencies such as lean manufacturing and cost reductions from the supply base. Shortly after the earnings release, Cat boss Doug Oberhelman told CNBC that “in a flat sales environment for two years” his …

Source: Bonhams
Motherboard of Apple 1 computer

One of the few remaining examples of Apple’s first pre-assembled computer, Apple-1, sold for $905,000 at an auction in New York on Wednesday, far outstripping expectations. The relic, which sparked a revolution in home computing, is thought to be one of the first batch of 50 Apple-1 machines assembled by Apple co-founder Steve Wozniak in …

Coburn reveals Wastebook 2014

Senator Tom Coburn’s “Wastebook” outlines the top “wasteful” federal projects that cost taxpayers billions of dollars.

Drugmakers race to treat Ebola

How close are the drug makers to making an effective Ebola vaccine? Meg Tirrell takes a look.