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Eight is great for Dow

Tuesday, March 12, 2013 - 01:45

March 12 -Summary of business headlines: Dow winning streak hits 8th day, 6th new record high; Costco profits up; Apple iPad losing market share-IDC. Bobbi Rebell reports.

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The Dow barely budged-but it was just enough to make it to its 6th record high- and its 8th up day in a row. The other major indexes, however, didn't fare as well, the S&P 500 breaking a seven day string of gains as investors pulled back from technology and financial shares. One of the day's losers: Apple. iPad shipments will fall behind the growing number of tablets running on Google's Android platform for the first time - this year - according to IDC. iPad shipments are expected to account for just 46 percent of the market- down from 51 percent last year. Androids will grow their market share to 49 percent. Also down: Google. It agreed to pay $7 million to 38 states and D.C. in a settlement related to its personal data collected by its Street View mapping cars. Costco reported higher than expected quarterly profits. The top U.S. warehouse club was able to boost membership and benefitted from its low priced gasoline. Share of Yum brands rose after the parent company of KFC reported an unexpected sales rise in China. On Capitol Hill- U.S. Securities and Exchange Commission head nominee Mary Jo White, told lawmakers her past legal work for Wall Street clients would not prevent her from being a tough financial watchdog. SOUNDBITE: MARY JO WHITE, CHAIRMAN OF THE SECURITIES AND EXCHANGE COMMISSION NOMINEE (ENGLISH) SAYING: "I am in compliance with all ethics and regulations and laws and I'm very scrupulous about these issues and place a very high bar on them and was also focused in that process very much on making certain I could effectively function as the Chair." In Europe, shares took their cue from Wall Street and took a breather- the major country indexes closing mixed.

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Eight is great for Dow

Tuesday, March 12, 2013 - 01:45