U.S. stocks rebound in early trading
NEW YORK, May 25 (UPI) -- U.S. stocks rebounded from a Thursday dive and rose in early trading Friday on the eve of a 3-day Memorial Day weekend.
The Dow Jones industrial average was up 42.34 points, or 0.32 percent, at 13,483.47. Nasdaq climbed 7.97,or 0.31 percent, at 2,545.89. the Standard & Poor's 500 climbed 4.76, or 0.32 percent, at 1,512.27.
Tokyo's Nikkei, affected by Thursday's U.S. market drop, lost 215.76 points, or 1.22 percent, to close at 17,481.21.
Bonds fell, the 10-year Treasurt note fell 6/32, or $1.875 for every $1,000 invested, yielding 4.867 percent.
The dollar was mixed. The euro was trading at $1.3454 from $1.3458 late Thursday, while the dollar was at 121.59 yen from 121.70 yen.
Crude oil prices rise after weekly low
NEW YORK, May 25 (UPI) -- U.S. crude oil prices, coming off a weekly low, rose 68 cents to $64.86 a gallon Friday as speculation grew that summer demand will mean more production.
Heating oil was bringing $1.04 a gallon and reformulated gas $2.65 in Friday activity. Natural gas was up a fraction at 7.71 per million thermal units.
Meanwhile, gas at the pump dropped back a fraction of a cent on the eve of the Memorial Day holiday. Regular unleaded was selling at an average of $3.225 a gallon, down from the record $3.227 on Thursday, the AAA fuel gauge report said.
Coca-Cola joins 'enhanced water' world
NEW YORK, May 25 (UPI) -- Seeking to expand its non-soda line, Coca-Cola Friday announced the purchase of Glaceau, a pioneer in popular "enhanced water," for $4.1 billion in cash.
Glaceau, based in Whitestone, N.Y., is the maker of Vitaminwater, a leader in one of the hottest categories in the beverage industry.
Enhanced water is the favorite of consumers who want light drinks that offer more flavor than plain bottled water, the Wall Street Journal said.
Atlanta-based Coca-Cola has been trying to reverse sales declines in its U.S. business and improve its non-traditional soft drink lineup with development of new kinds of water, tea and other popular drinks. Coke also acquired Fuze Beverage, a maker of energy, tea and vitamin-enhanced drinks.
Best Buy sued for 'bait and switch'
HARTFORD, Conn., May 25 (UPI) -- Best Buy, the giant electronics retailer, has been sued in Connecticut for allegedly deceiving customers.
Connecticut Attorney General Richard Blumenthal accused the company in his lawsuit of a "bait-and-switch scheme" that he said treats "customers like suckers," ABC News reported.
The suit claims customers were lured into Best Buy stores by prices quoted on the company's Web site only to find the items at higher prices at the store.
The higher prices were found on a look-alike Web site available only in the store, the suit said. A company representative acknowledged the existence of the in-house site but denied that it was a ploy to overcharge customers, ABC News reported.
Big Mac plans big push this year
CHICAGO, May 25 (UPI) -- McDonald's said it plans to speed up worldwide restaurant openings this year after a four-year slowdown to improve quality.
The world's largest restaurant chain expects to spend about $1.9 billion this year to open 800 restaurants and remodel another 2,000 in markets with "growth opportunities," Chief Executive Officers Jim Skinner told shareholders at their suburban Chicago meeting.
Some 200 of those openings are ticketed for the United States, Chief Financial Officer Matthew Paull said. Other countries include Russia, China, Australia and England.
Skinner said McDonald's plans to boost new restaurants by 1.2 to 1.3 percent annually from its current levels during the next few years, Crain's reported, up from 0.9 to 1 percent in recent years.
