Wall Street market report
- 6 August 2014
- From the section Business
(Close): Stocks on Wall Street closed slightly higher on Wednesday, despite concerns over new Russian sanctions and the scrapping of two corporate deals.
Investors' nerves were tested by reports that Russia had gathered thousands of troops on Ukraine's eastern border.
The S&P 500 was essentially flat, rising 0.03 of a point to 1,920.24.
On Wednesday, Time Warner said the popularity of shows such as "Game of Thrones" on its HBO network had helped to lift second quarter revenues by 3% to $6.79bn. Net income from continuing operations increased to $843m from $698m a year earlier.
Groupon closed down 13% after it cut its full-year profit forecast on Tuesday. Groupon says it now expects earnings of more than $270m, compared with its previous estimate of more than $300m.
Walgreen fell 14% as the company announced it would be buying the 55% of Alliance Boots that the company does not already own. Investors were disappointed after Walgreen said it would not use the deal to move its headquarters abroad, which would have cut its tax bill.