Financial stocks lead market higher...More computer woes at Southwest...Arby’s takes Wing
NEW YORK (AP) — Financial companies are leading stocks broadly higher afternoon as investors weigh encouraging data on consumer confidence and housing. Industrial and retail companies also posted solid gains. Homebuilders rose. Only real estate stocks lagged. The latest batch of company earnings and deal news also helped lift the market.
NEW YORK (AP) — Investors have had a double dose of encouraging data on the U.S. economy. The Conference Board says its consumer confidence index rose this month to its highest level since November 2000. Economic growth clocked at a healthy 3 percent annual pace in the third quarter, and the unemployment rate has fallen to a 17-year low of 4.1 percent. A separate index showed U.S. home prices rose at the fastest pace in more than three years in September, fueled by a record-low supply of homes for sale.
SAN FRANCISCO (AP) — A federal criminal investigation into alleged espionage at Uber has indefinitely delayed a trial over whether the ride-hailing service stole self-driving car technology from Waymo, a spinoff from Google. A former security manager for Uber testified in San Francisco today that he believed the ride-hailing service had set up a secret unit to steal trade secrets from its rivals overseas. He didn’t specify which competitors that Uber had been targeting.
DALLAS (AP) — For a second straight day customers of Southwest Airlines are running into problems when trying to manage reservations on the airline’s website. Southwest posted an apology today to customers who were having difficulty on the website or the carrier’s mobile app. Some customers say on Twitter that they’re unable to check in online for flights.
NEW YORK (AP) — Arby’s is buying Buffalo Wild Wings for about $2.4 billion, making it the latest casual restaurant chain to be taken private. Buffalo Wild Wings, which serves chicken wings in a sports bar-like atmosphere, has reported falling sales as it and other casual restaurants lose customers to cheaper and faster chains. In the most recent quarter, it reported a 2.3 percent sales drop at its established restaurants. Last month, struggling sit-down chain Ruby Tuesday agreed to be sold for $146 million and taken private.