NEW YORK (AP) _ Scholastic Corp. (SCHL) on Thursday reported a loss of $63.7 million in its fiscal first quarter. On a per-share basis, the New York-based company said it had a loss of $1.81. Losses, adjusted for
A sharp selloff in tech stocks and a hawkish Federal Reserve teamed up on Thursday, Sept. 21, to drag markets from recent record highs. The Dow Jones Industrial Average fell 0.15%, the S&P 500 fell 0.15%, and the Nasdaq slid 0.4%. The Dow and S&P 500 closed at records a day earlier -- the Dow for the seventh day in a row and the S&P 500 for its fourth. The Dow briefly hit an all-time intraday high before returning to the red. Tech stocks were the worst performers on Thursday. Apple Inc. (AAPL) continued its descent, responding to reports of connectivity issues with its new Apple Watch model that surfaced earlier in the week. Other tech stocks including Amazon.com Inc. (AMZN) , Micron Technology
Enbridge Inc. is offering C$1 billion ($811 million) of 60-year bonds on Thursday, following in the footsteps of fellow Canadian pipeline giant TransCanada Corp. The securities have similar maturity and call structure as the C$1.5 billion ($1.22 billion) of 4.65 percent bonds sold by a unit of TransCanada in May. Before that sale, the market for Canadian dollar corporate bonds hasn’t seen an offering of that long a tenor since Enbridge sold C$100 million of 100-year bonds in 2012. Fitch assigned a BBB- rating to the offering, the agency said in a report Thursday.