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Stocks slip...Puerto Rico to default on $37M in interest...Sidecar to shut down


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NEW YORK (AP) — Major stock indexes are lower in afternoon trading on Wall Street, giving back some of yesterday's gains. Energy companies led the decline as crude oil and natural gas prices fell. Trading has been lighter than usual ahead of the New Year's Day holiday.

SAN JUAN, Puerto Rico (AP) — Puerto Rico's governor says the U.S. territory will make a $594 million bond payment due next week but default on $37 million in interest. He says the payment includes $329 million in general obligation bonds. He says there is no money to make a $400 million payment in May in Government Development Bank bonds. The island is struggling with $72 billion in public debt.

NEW YORK (AP) — Delivery and ride-hailing pioneer Sidecar says it will stop offering services tomorrow. The company has struggled to compete with bigger rivals Uber and Lyft. While Uber says it's operating in 68 countries and Lyft gives rides in 190 cities, Sidecar did business in just eight markets across the U.S. The three-year-old San Francisco company's investors included Google Ventures and Richard Branson.

NEW YORK (AP) — Weight Watchers shares are soaring as a TV commercial starring Oprah Winfrey begins to air. The commercial shows past videos of Winfrey working out and referencing her struggle with weight, and ends with Winfrey asking viewers if they're ready to join her. She tweeted the ad to her more than 30 million followers yesterday. Weight Watchers stock has more than tripled since October, when Winfrey bought a 10 percent stake in the company.

DENVER (AP) — As marijuana emerges from the black market and starts looking like a mainstream industry, there's a scramble to brand and trademark pot products. But patents and trademarks are largely regulated by the federal government, which considers marijuana an illegal drug, ineligible for any sort of legal protection. The result is a Wild West environment of marijuana entrepreneurs trying to stake claims and establish cross-state markets using a patchwork of state laws.

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