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Stocks down...Oil prices drop... Grubhub to buy Eat24

By The Associated Press | Posted - Aug. 3, 2017 at 3:47 p.m.



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NEW YORK (AP) — Stocks are mostly lower on Wall Street, but the Dow Jones industrial average of 30 blue-chip stocks still managed to post its eighth gain in a row and close at another record high. The Dow closed up 9 points, less than 0.1 percent, to 22,026. The Standard & Poor's 500 index slipped 5 points, or 0.2 percent, to 2,472. The Nasdaq fell 22 points, or 0.4 percent, to 6,340.

NEW YORK (AP) — Oil prices are lower today. Benchmark U.S. crude dipped 56 cents, or 1.1 percent, to $49.03 a barrel in New York. Meanwhile, Brent crude, the international standard, fell 35 cents to $52.01 a barrel in London.

NEW YORK (AP) — Grubhub plans to gobble up another online food-ordering rival: This time it's Yelp's Eat24. Chicago-based Grubhub is paying Yelp $287.5 million for Eat24. That's more than double what Yelp, based in San Francisco, paid to acquire Eat24 two years ago. The two companies also announced a 5-year deal that will allow readers of Yelp's reviews to order food from restaurants that use Grubhub.

NEW YORK (AP) — Dunkin' is thinking about dumping "Donuts" from its name. A new location of the chain in Pasadena, California, will be simply called Dunkin', a move that parent company Dunkin' Brands calls a test. The Canton, Massachusetts-based company says a few other stores will get the one-name treatment too. The chain wants people to think of its stores as a destination for coffee, not just doughnuts. No final decision will be made until late next year.

UNDATED (AP) — Regulators have approved another drug to treat all forms of hepatitis C that works in as little as eight weeks. AbbVie's drug, Mavyret (mav-EH'-rit), was approved today by the Food and Drug Administration for patients without significant cirrhosis who haven't been treated previously for the liver-destroying virus, plus those with a form of hepatitis who weren't cured by a prior treatment. Hepatitis C affects at least 2.7 million people in the U.S.

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The Associated Press

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