Issue link: https://www.epageflip.net/i/24763
8B – Daily News – Tuesday, February 8, 2011 LINDA M. FOURBY, LUTCF Authorized Independent Agent BlueShield of California Anthem® Bluecross • Individual • Small Group • Medicare Supplements • Part D Prescriptions (530) 529-2369 805 Walnut St., Red Bluff CA Lic.#0C05427 M-F Herb Shop • VITAMINS • MINERALS • HERBS Open Tuesday-Friday 10:30 a.m.-5:30 p.m. Suite #E, Red Bluff, CA 96080 (530) 528-2930 333 So. Main St. Now on Facebook 6am-2pm Valentine Cookies Cherry Mini Loaf Call to order ♥♥ Made with Organic & Local Ingredients 446 Antelope Blvd. #38 Left side of Antelope Holiday Mkt 529-1687 Deal news, earnings push stocks higher Wall Street NEW YORK (AP) — Several big acquisitions and a strong earnings report from Loews Corp. pushed stocks higher Monday. Pride International Inc. jumped 16 per- cent after Ensco PLC, a London-based oil rig operator, said it would buy the offshore driller for $7.3 billion. Beckman Coulter Inc. gained 10 percent after Danaher Corp. said it plans to buy the manufacturer of medical diagnostic tests for $5.8 billion. Loews Corp. rose 4 percent. The compa- ny, which owns Loews hotels and the prop- erty insurer CNA Financial Corp., said falling costs helped earnings rise 16 percent even as revenue slipped slightly. The results were higher than analysts were expecting and helped push financial companies high- er. Joseph Saluzzi, co-head of equity trading at Themis Trading, said that with no major economic reports due out this week, merg- ers and earnings reports will continue to drive stocks higher. Anything that can be construed as good news is likely to give investors a reason to buy stocks, he said. ‘‘The path of least resistance right now is up,’’ Saluzzi said. ‘‘People are beginning to assume the market is going higher. It’s momentum.’’ The Dow Jones industrial average rose 69.48 points, or 0.6 percent, to 12,161.63. The Dow has now risen for six straight days, its longest winning streak since November. The Standard & Poor’s 500 index rose 8.18, or 0.6 percent, to 1,319.05. The Nas- daq composite gained 14.69, or 0.5 percent, to 2,783.99. Financial companies rose 1.5 percent, the largest gain of any of the 10 company groups that make up the S&P index. Lorillard Inc. rose 2 percent after the company, which makes Newport and Mav- erick cigarettes, said it increased both sales and prices of its products. AOL Inc. dropped 3.4 percent after say- ing it would buy the Huffington Post, a news and opinion website, for $315 million. Ari- anna Huffington, the site’s co-founder and political pundit, will join AOL’s manage- ment team. Toy maker Hasbro Inc. rose 1.8 percent after reporting earnings that were lower but still beat analysts’ expectations. The yield on the 10-year Treasury note edged down to 3.64 percent from 3.65 per- cent late Friday. Monday was the first day of trading since the company that owns the Nasdaq exchange admitted Saturday it had been hacked late last year. The problem did not affect any trades, the company said. Two stocks rose for every one that fell on the New York Stock Exchange. Consolidat- ed volume came to 4 billion shares. World Expo would be economic boon MOFFETT FIELD (AP) — Bringing the World Expo to Silicon Valley in 2020 could generate $440 million in state and local tax rev- enue, draw 25 million visitors and create 42,000 jobs, according to a new report released by bid organizers. The Bay Area Coun- cil, a regional business organization spearhead- ing a campaign to hold the event at Moffett Field, released the report over the weekend that said the six-month event would cost about $1 bil- lion to plan and operate but could stimulate about $5.6 billion in economic activity. That’s quadruple the estimated economic impact the 2013 Ameri- ca’s Cup race is expect- ed to bring to the area. ‘‘The report is glow- ing and probably exceeds our optimistic expectations,’’ Bay Area Council President and CEO Jim Wunderman told the San Francisco Chronicle. ‘‘It isn’t the Olympics, but then again, it goes for six months.’’ Former Gov. Arnold Schwarzenegger first announced the proposal last September to hold the 2020 event at the for- mer military air base. At the time, he was visiting the 2010 Shanghai Expo. California hasn’t hosted a world’s fair since 1939, when Trea- sure Island was built in the middle of San Fran- cisco Bay to hold the event. The Bay Area Coun- cil says it hopes to begin working with Gov. Jerry Brown’s office as soon as next month and talk to other aspiring host cities, including Hous- ton and Minneapolis. Final bids for the Expo, held every five years, are due next year. A decision by the Paris- based Bureau of Interna- tional Expositions is expected by 2014, giv- ing the host city about seven years to prepare for the massive gather- ing. For U.S. cities to qualify, Congress would have to renew the nation’s membership with the group.. The U.S. dropped out in 2002 because of unpaid dues and would have to cut a check for $33,000 to get back in. Chris’ Rosser’s Bakery & Specialty Foods