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Dow up, broader indexes down...Obama orders changes on data collection...Rough season for UPS

Friday - 1/17/2014, 3:40pm  ET

NEW YORK (AP) -- Stocks are mixed in afternoon trading as investors assess several weak earnings reports from U.S. companies. Industrial stocks are among the biggest decliners after General Electric reported earnings that disappointed investors. Intel has slumped after issuing a weak revenue forecast. The Dow is up more than 60 points, while the S&P and the Nasdaq remain lower.

WASHINGTON (AP) -- President Barack Obama is calling for an end to the government's control of Americans' phone data and ordering intelligence agencies to get court permission before accessing such records. He's not recommending where the data should be moved but has given the intelligence community and the attorney general 60 days to study options. The president also recommended lifting some of the secrecy surrounding the demands that might be sent to companies for data on customers involved in a national security investigation.

ATLANTA (AP) -- UPS says its fourth-quarter profit will be smaller than expected after a rough holiday shipping season. The company says a "surge of last-minute orders" forced it to take "extraordinary" steps, including hiring 30,000 more temporary workers than planned. Bad weather last month also hurt results. UPS says its fourth-quarter profit will be $1.25 per share. Analysts surveyed by FactSet had been expecting $1.43 per share.

WASHINGTON (AP) -- U.S. employers advertised more jobs in November while more Americans quit. The Labor Department says job openings rose to 4 million, the most in 5 and a-half years. The number of people quitting increased to 2.4 million. While both numbers are seen as positive signs for the millions looking for work, they haven't translated into additional hiring. Overall hiring ticked up 0.2 percent to about 4.5 million.

NEW YORK (AP) -- Funding for U.S. startups increased 20 percent in the final three months of last year as venture capitalists poured more money into more deals. The MoneyTree study released from PricewaterhouseCoopers and the National Venture Capital Association says startup investments totaled $8.37 billion in the October-December quarter, with 1,077 deals completed. Software companies received the most money, with biotech a distant second.


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