Issue link: https://www.epageflip.net/i/33977
8B Daily News – Tuesday, June 14, 2011 NEW YORK (AP) — A round of corporate deals helped the broad stock market eke out only its second day of gains this month. Wendy’s/Arby’s Group Inc. rose nearly 1 percent after the compa- ny said it would sell control of its Arby’s restaurant business to a private equity firm that owns several other quick-service franchis- es, including Moe’s Southwest Grill and Auntie Anne’s. And clothing maker VF Corp., whose brands include Wrangler and The North Face, jumped 10 percent after agree- ing to buy the boot maker Timberland for more than $2.2 billion. When big companies use their cash to make an acquisition, it signals a belief that there are values in the market, said Ryan Detrick, Corporate buyout deals nudge indexes higher Wall Street senior technical strate- gist at Schaeffer’s Investment Research. ‘‘That’s a good sign of confidence when we desperately need some,’’ Detrick said. The Dow Jones industrial average gained 1.06 points, or less than 0.1 percent, to close at 11,952.97. The Standard and Poor’s 500 inched up 0.85 point, less than 0.1 per- cent, to 1,271.83. The Nasdaq composite lost 4.04, or 0.2 percent, to 2,639.69 All three indexes are down more than 4 per- cent over the last month because of concerns that the U.S. economy is stalling. Stocks have fallen since late April follow- ing dismal reports on the housing market, manufacturing and jobs. On Friday, the Dow fell below 12,000 for the first time since March. The Dow and S&P index last gained on Thursday, following news that U.S. exports hit a record in April. Energy companies in the S&P index lost 1.4 percent, the biggest move among the 10 industry groups that make up the index, after crude oil dipped to $97.30 a barrel. Worries about the U.S. economy and con- cerns that Europe may fall into another fiscal crisis continue to impact bonds. Bond yields remained below 3 percent as investors continued to place a high value on safer assets. Standard & Poor’s cut Greece’s credit rating to CCC on Monday, two notches above default. S&P also said that it doubts the country will be able to sell bonds to finance its budgets in 2012. Among U.S. corpora- tions, Forest Laborato- ries Inc. rose nearly 2 percent after the drug- maker said a fund affili- ated with billionaire investor Carl Icahn plans to nominate four directors to the compa- ny’s board. And elec- tronics retailer Best Buy Co., grocer Kroger Co. and BlackBerry maker Research in Motion Ltd. will release earnings later in the week. Falling shares slight- ly outnumbered rising ones on the New York Stock Exchange. Con- solidated volume came to 3.7 billion shares. School district turns lawn care over to sheep CARLISLE, Pa. (AP) — A central Pennsylvania school has a woolly plan to keep its grass neatly trimmed. Tehama County Business Tell us why and you could win a $100 gift certificate at any Simply answer the question, “What makes the USA unique as a nation?” in 250 words or fewer 3 winners • 1 Youth (18 & under) • 2 Adults Tehama County residents & the deadline for Essays must be written by entries is 5 pm June 27 Elks Lodge 355 Gilmore, Red Bluff Submit entries to PO Box 220, Red Bluff, 545 Diamond Ave. in Red Bluff or by e-mail to editor@redbluffdailynews.com and include your name, age and phone number. Winning entries will be published on July 1 in a special Independence Day weekend insert to the Daily News The Carlisle Area School District says it can save up to $15,000 a year Today’s Burning Issue Doesn’t The Lint Trap Keep The Dryer Vent Clean? (No!) A partially plugged gas dryer vent may back carbon monoxide into your home. Symptoms may include headache, achiness, nau- sea, brain damage and death. Lint is flammable. Longer cycles are a waste of energy. We test the sys- tem before and after service so you know what we accomplished. Free dryer vent check (with other service) Limited Time! 527-3331 “My dryer vent was completely plugged up. Now it dries the clothes in one cycle.” Mrs. M Greenberg, Redding www.flueseason.com THE Chimney Professionals Chimney Sweeps 527 3331 Flue Season by turning over some land- scaping chores to sheep. The Patriot-News of Harrisburg reports the dis- trict is using the sheep to keep the grass near its solar panels neatly trimmed. The sheep nibble grass in the morning and take refuge in the shade of the panels in the afternoon. With the food already on hand, the district need only supply the sheep with water. A middle school assis- tant principal is providing the sheep. THE Locally owned & operated Keep the 5A>6 air out & the WARM air in with ENERGY EFFICIENT WINDOWS Better Built Windows REMEMBER US FOR ALL YOUR DOOR & MOLDING NEEDS. We’re not just for contractors 1040 B Monroe St., Red Bluff (530) 527-7962 LIC#659256