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NEW YORK (AP) — Solid earnings reports have driven the stock market to another record high. The Dow rose 134 points to 18,506, while the S&P 500 gained 11 points to 2,164. The Nasdaq composite increased 28 points to 5,034. Stocks rose from the start of trading after JPMorgan Chase released results that were better than analysts expected. Most companies are expected to report drops in earnings for the period ending in June, but a few big ones that have released numbers so far have encouraged investors by beating low expectations.
NEW YORK (AP) — Shares of Line Corp. are soaring in their debut on the New York Stock Exchange as investors get in on the mobile messaging craze. Line's American Depositary Shares have closed up 27 percent to $41.58. Shares of the company will also be listed in Tokyo. Trading there starts tomorrow.
BERLIN (AP) — Bayer says it has increased its offer for Monsanto to $125 per share from an initial bid of $122 per share. The German drug and chemicals firm says the revised all-cash offer follows several weeks of talks with Monsanto. Bayer says it has "comprehensively addressed" Monsanto's concerns and "is prepared to make certain commitments to regulators" if needed to complete the acquisition.
OMAHA, Neb. (AP) — CSX believes profits will decline for rest of the year as volume continues to slow. The railroad has reiterated a dreary outlook for the year and bleak long-term prospects for coal demand. CSX said Wednesday that second-quarter profit tumbled 20 percent with volume sliding 9 percent.
REDMOND, Wash. (AP) — If you have fond memories of battling King Koopa or tossing barrels as Donkey Kong, you can relive them this fall. Nintendo is leaping into the nostalgia market by bringing back the classic Nintendo Entertainment System. The NES Classic edition comes complete with 30 built-in games, including all three "Super Mario Bros."
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