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8B Daily News – Wednesday, January 22, 2014 Mixed earnings hold back US stocks NEW YORK (AP) — The Standard & Poor's 500 index logged a small gain Tuesday on a mixed day for the stock market. Health-care giant Johnson & Johnson slipped after it warned that pressure to keep prices low would likely mean slightly lower profits than forecast. Delta Air Lines gained after reporting a better-thanexpected profit in the fourth quarter as fares and traffic rose. Company earnings were the main focus for investors Tuesday as there were no major economic releases. So far, the stock market has failed to get a big lift from earnings reports and investors appear to be assessing the results more critically than they did a year ago. ''Earnings are coming Wall Street in and, candidly, we're getting a mixture picture for the fourth quarter so far,'' said Jim Russell, an investment director at U.S. Bank. The Standard & Poor's 500 rose 5.10 points, or 0.3 percent, to 1,843.80. The Dow Jones industrial average fell 44.12 points, or 0.3 percent, to 16,414.44. The Nasdaq composite edged up 28.18 points, or 0.7 percent, to 4,225.76. J&J, one of the 30 members of the Dow, slipped $1.03, or 1.1 percent, to $94.03, helping pull the index lower. Another Dow component, Verizon Communications, fell after reporting its own earnings. Among the day's winners were Dow Chemical 604 Main St. Red Bluff (530) 529-5154 www.redblufflosmariachis.com BUY 1 GET 1 Half OFF Your 2nd Plate! For Breakfast, Lunch or Dinner (must purchase two drinks) Breakfast: Mon-Fri 9am-11am Lunch & Dinner: Mon-Thurs 9am-9pm Fri-Sat-Sun 9am-9:30pm Half of the second plate of equal or lesser value. Not valid with any other offers, specials or Seafood items. Cannot be used with any catering services. 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See All Tehama County Listings at www.redbluffcoldwellbanker.com TEHAMA COUNTY REAL ESTATE TEAM • OPEN 7 DAYS A WEEK and Alcoa. Dow Chemical rose $2.86, or 6.6 percent, to $45.93 after hedge fund Third Point LLC said Tuesday that it has acquired a significant stake in the company and wants it to spin off its petrochemicals division. Alcoa surged 77 cents, or 6.8 percent, to $12.13 after analysts at JPMorgan raised their price target for the stock, predicting Alcoa will benefit from tightening aluminum markets. After surging almost 30 percent last year, stocks are starting the year in a more subdued fashion. The S&P 500 is down 0.3 percent for the year. In bond trading, the yield on the 10-year Treasury note rose to 2.83 percent from 2.82 percent on Friday. U.S. markets were closed Monday for the Martin Luther King Jr. Day holiday. Among other stocks making big moves: — Delta increased $1.01, or 3 percent, to $32.08 after reporting a better-than-expected profit in the fourth quarter as fares and traffic rose. The airline's president said demand was strong, and forecast that profit margins would increase in the current quarter. — Expedia dropped $3.02, or 4.2 percent, to $67.67 after a blog Search Engine Land reported Expedia online visibility fell dramatically, and cited actions taken by Google to punish companies that it believes are trying to game its search algorithms. Officials from Expedia did not immediately respond to requests for comment from The Associated Press. Verizon buys Intel unit, preps mobile TV service LOS ANGELES (AP) — Someday, the full lineup of channels from Verizon's FiOS TV service may be available on your phone. That's the vision outlined Tuesday after telecommunications giant Verizon Communications Inc. announced that it's buying Intel Media, a division of Intel Corp. that's been preparing to launch a service that streams TV channels over the Internet. Verizon said the acquisition will help it accelerate the development of a nextgeneration video services based on Internet protocols and reduce the cost of building its own. Currently, Verizon FiOS video subscribers can stream some live channels over mobile devices, but the selection is limited and most channels can't be viewed outside the home. Terms of the transaction were not disclosed. Verizon said it would offer jobs to most of the 350 people at Intel Media. The company said that with its pending purchase of Vodafone's stake in Verizon Wireless, which gives it complete control by Feb. 21, it will create a better TV product that works on mobile devices. On a conference call with investors Tuesday, Francis Shammo, Verizon's chief financial officer said the company is positioning itself to compete in ''the whole mobile-first world in video.'' Gerard Hallaren, an analyst with Janco Partners Inc., said the acquisition prepares Verizon for the day when all TV signals are delivered via the Web, in what is come to be known as an ''over the top'' service like Netflix, Hulu or Ama- zon Instant Video. Today, full pay TV service requires being in the service area of various cable TV or telecoms providers. An ''over the top'' service would allow Verizon to provide a TV package to customers outside of its service area. ''The entire TV market five years from now will be 'over the top,''' Hallaren said. ''Verizon is getting in fairly early here.'' Intel started the division in 2011, luring digital executive Erik Huggers from the BBC to lead the team. 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