Market Minute: Bezos Snaps Up Media Giant; American Eagle Disappoints

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All of the sudden, the newspaper business is hot again, but a trendy retailer has gone cold. Those and more are what's in business news Tuesday.

U.S. stocks mostly lost ground in quiet trading Monday on Wall Street. The Dow industrials (^DJI) fell 46 points and the S&P 500 (^GPSC) lost 2, while the Nasdaq (^IXIC) added 3.

Jeff Bezos washington post amazon.com acquisitions newspapers
Reed Saxon/APAmazon.com CEO Jeff Bezos
For the second day in a row, we can tell you about the sale of a major American newspaper. The Washington Post has been bought by Jeff Bezos for $250 million. Bezos is chairman of Amazon.com (AMZN), but he's buying the paper on his own. He's expected to make technology a greater part of the business.

The Washington Post Co. (WPO) will change its name and continue to operate Kaplan education, its TV business and some magazine titles. On Monday, we reported the Boston Globe is being sold to the primary owner of the Boston Red Sox.

American Eagle Outfitters (AEO), the trendy retailer of teen apparel, is not so trendy on Wall Street today. Its shares are set to tumble after the company warned its quarterly earnings will fall far short of expectations. Competitors such as Abercrombie & Fitch (ANF) could also take a hit.

But shoe retailer DSW (DSW) has raised its outlook and announced plans for a 2-for-1 stock split.

Time Warner Cable (TWC) has made an innovative proposal to end its blackout of CBS (CBS) owned programming in New York, Los Angeles and other cities. Time Warner says it will let subscribers buy CBS on an a la carte basis, allowing the network to charge whatever it wants, but customers would have the option of not receiving or paying for it. CBS called the plan "a sham."

Sony (SNE) has rejected a proposal from one its largest shareholders to sell or spin off its huge entertainment division.

And Intel's (INTC) computer security firm McAfee is about to lose its chief technology officer, Phyllis Schneck. She will reportedly head up cyber-security for the Department of Homeland Security.

-Produced by Drew Trachtenberg.


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Don

The Gathering Of Parrots (GOP) Party's richest manipulators are consciously buying up American newspapers -- their representatives have already announced this -- all as part of a continued coup attempt of all things American by RNC bullybigotboys. Research this -- look it up. This is their new game plan after failing to commandeer last Fall's presidential elections -- that, and taking control of state lawmakers across America. Again, please folks -- do some research. Once they've gained control of our mostly already lost free press, they'll turn those newspapers into publications modeled after heavily prejudiced Fox News. They understand they're pretty much done as a political party -- they hate everybody, and finally Americans are beginning to notice that. It's also why they've fought so hard to hang on to their guns: they plan to use them against a perceived enemy ("liberals"), who mostly have zero interest in joining another civil war, which recent news polls have determined make up 29 percent of our U.S. population. It's time to get up off your duffs, passive Democrats, and Stand Your Ground back.

August 06 2013 at 3:45 PM Report abuse -2 rate up rate down Reply
1 reply to Don's comment
Ron Amatic

Bezos is a Democrat, you moron.

August 13 2013 at 12:18 PM Report abuse rate up rate down Reply
countrylady17402

SORRY MEANT TOO SAY A $20.00 PAIR . PC FROZE .

August 06 2013 at 2:30 PM Report abuse rate up rate down Reply
drpmindmender

I think Jeff Bezo's ownership of the Washington Post will be good for the paper. Besides being an out-of-the-box thinker, which all newspapers need to do in the electronic age, he is also a long-term outlook kind of businessman, as demonstrated by how he operates Amazon.

August 06 2013 at 1:12 PM Report abuse rate up rate down Reply
lah27282

I was in there last week. $70 for a pair of jeans full of holes and cheap stitching, that not many over age 19 would want. Why would I buy that when, for a $100, you can buy a pair of jeans that will last decade for a department store?

August 06 2013 at 9:34 AM Report abuse +1 rate up rate down Reply
1 reply to lah27282's comment
countrylady17402

why would you even apy a 100 bucks for jean or even 70 bucks , or even pay any money for jeans that already have holes in them. but then again i cant afford too 70 or 100 bucks for jeans i have utilities bills too pay thats more important, heck a 420 pair of jeans are just as good.

August 06 2013 at 2:28 PM Report abuse +1 rate up rate down Reply
Jeff W.

Good luck Karina!

August 06 2013 at 9:23 AM Report abuse +1 rate up rate down Reply
blueoktober

Just popped into American Eagle last week.... and they had nothing but long sleeve shirts, in Orlando, in the Summer. I walked out empty handed and probably won't go back.

August 06 2013 at 9:00 AM Report abuse rate up rate down Reply