Earnings season begins; Alcoa misses as Dow notches record close
CBS News
Transcript
it's officially earning season again on Wall Street aluminum giant Alcoa started things off on the wrong foot quarterly profits missed expectations because of slipping sales investors will be watching for financial report cards this week from a slew of companies including General Electric PepsiCo costco and safeway on Wall Street Tuesday the blue chips notched another record close on news of Federal Reserve's decision to cut interest rates last month was a unanimous one the Dow Industrials raced ahead 120 points to a record close while the nasdaq moved up 16 a legal defeat for hewlett-packard the Supreme Court has allowed a class-action lawsuit against HP to proceed the suit claims compact which is now owned by HP sold defective computers to Oklahoma residents a compact sold them a defective PC and then refuse to repair or replace it the suit can now include the 1.7 million people who bought similar compact computers and soon taking off won't mean shutting off your laptop American Airlines plans to offer wireless internet service on most of its planes by the beginning of next year virgin america is right behind offering Wi-Fi by the middle of 2008 surveys show that as many as seventy percent of passengers want wireless internet in the skies so expect more carriers to offer Wi-Fi in the coming years that's your money watch be sure to log on to cbsnews.com for more business headlines in New York I'm Alexis cristoforos