You have reached your limit of free articles this month.

Enjoy unlimited access to SpringfieldNewsSun.com

Starting at just 99¢ for 8 weeks.

GREAT REASONS TO SUBSCRIBE TODAY!

  • IN-DEPTH REPORTING
  • INTERACTIVE STORYTELLING
  • NEW TOPICS & COVERAGE
  • ePAPER
X

You have read of premium articles.

Get unlimited access to all of our breaking news, in-depth coverage and interactive features. Starting at just 99c for 8 weeks.

X

Welcome to SpringfieldNewsSun.com

Your source for Clark and Champaign counties’ hometown news. All readers have free access to a limited number of stories every month.

If you are a News-Sun subscriber, please take a moment to login for unlimited access.

breaking news

Ohio sues to recoup $604K it spent on tainted Enon water cleanup

In brief


BANKING

Moody’s raises outlook on U.S. banks

Moody’s Investors Service has raised its outlook for the U.S. banking industry for the first time in five years, citing the improving economy and banks’ stronger balance sheets.

The rating agency said in a report issued Tuesday that sustained economic growth and a better jobs picture will help banks over the next 12 to 18 months. Moody’s raised its outlook for the industry to “Stable” from “Negative.” It had been “Negative” since 2008, the year the financial crisis struck.

Moody’s said that after a year of reducing losses from soured loans and building cushions against losses, banks are in a better position to handle any future economic downturn.

It said the most likely scenario pushing the outlook back to negative would be a slackening of banks’ credit standards. ASSOCIATED PRESS

INVESTING

Netflix shares sink on ‘Arrested Development’ reviews

The hoopla surrounding the return of “Arrested Development” on Netflix’s Internet video service has dissolved into a letdown on Wall Street.

Netflix’s stock fell more than 6 percent Tuesday as investors reacted to critics’ mixed reviews of the first new “Arrested Development” episodes since the Fox broadcast network canceled the series seven years ago.

Netflix Inc. released all 15 episodes of the resurrected “Arrested Development” at the same time early Sunday.

Analysts insist it’s still too early to tell whether “Arrested Development” will be a hit or a flop.

Netflix had 29.2 million U.S. subscribers in March. The Los Gatos, Calif., company is hoping positive buzz about “Arrested Development” will help add as many as 880,000 more customers by the end of June.

The stock closed at $214.19, down $14.55. ASSOCIATED PRESS

EARNINGS

Tiffany reports higher 1Q profit

Tiffany & Co. reported a 3 percent increase in first-quarter net income, fueled by solid sales improvement across the regions, particularly in Asia.

The results, announced Tuesday, beat Wall Street expectations, and its shares briefly rose to their highest level in almost two years in morning trading.

Tiffany is a barometer of luxury spending so the latest results show the resilience among affluent shoppers despite economic challenges around the globe.

The high-end jewelry company known for its blue boxes earned $83.6 million, or 65 cents per share, for the period ended April 30. That’s up from $81.5 million, or 64 cents per share, a year ago.

Excluding costs tied to staff and occupancy cuts, earnings were 70 cents per share. This easily beat the 53 cents per share analyst expected.

Revenue for the New York company rose 10 percent to $895.5 million from $819.2 million, topping Wall Street’s $855.7 million estimate.

Sales increased 9 percent globally to $895 million.


Reader Comments ...


Next Up in Business

Springfield native brings fashion show to Upper Valley Mall
Springfield native brings fashion show to Upper Valley Mall

The Upper Valley Mall will be the center of area fashion on Sunday, June 25. The second “Fashion. Forward. Fusion.” Fashion Show will gather designers from Springfield, Dayton, Cincinnati and Columbus to showcase their latest offerings, 5 to 7:30 p.m. at the former MC Sports location. READ MORE: Goat yoga craze stretches into Clark County...
Snapchat introduces location-sharing with Snap Map
Snapchat introduces location-sharing with Snap Map

Snapchat is introducing a new way to locate your friends with the Snap Map.  The social media platform announced the news this week, revealing that the location-sharing feature will allow friends to find each other or anyone in the world using its map.  “We've built a whole new way to explore the world! See what's happening, find your...
Dayton Air Show announces paved parking for 2017 show
Dayton Air Show announces paved parking for 2017 show

Record rainfall on Friday is forcing coordinators of the Vectren Dayton Air Show at the Dayton International Airport to direct people today to alternative and paved parking sites. Two years ago, monsoon-like heavy rains pummeled the first day of the air show, causing many vehicles to become mired in muddy, grassy parking spots near the airport. Air...
JOB ALERT: Kroger to hire for 800 open positions at all locations
JOB ALERT: Kroger to hire for 800 open positions at all locations

Cincinnati-headquartered Kroger is hiring for 800 open positions at all Kroger locations. The grocery retailer is looking for new employees during a hiring event on Saturday from 11 a.m. to 4 p.m. at all Kroger stores. Positions are open in the following departments: deli, bakery, meat and seafood, Starbucks, grocery and ClickList. Interested applicants...
Goat yoga craze stretches into Clark County
Goat yoga craze stretches into Clark County

Clark County residents have a chance to take part in a new fitness craze, goat yoga, which combines traditional yoga with baby goats. The Smiling Prairie Goat Farm, 9697 Chenoweth Rd., South Charleston, is offering classes this summer. The next class will be 10 a.m. to noon Saturday. The cost is $25 a person. Sisters Jeri LaVielle and Linda Leonhard...
More Stories