Money Minute: Soccer Fever Heats Up TV Ratings

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We may be one of the few countries in the world to call it soccer but we, like the rest of the world, are starting to get a kick out of the sport.

In a sign of soccer's growing profile stateside, almost 25 million viewers tuned into the Portugal vs. U.S. match on Sunday night. And that's not counting those who went to bars to watch the game or those who watched online. This translates into a huge windfall for ESPN that said it was the most viewed soccer match in the U.S. ever. It was also a huge draw for Spanish viewers on Univision. And more good news for ESPN -- it's younger people who are watching -- the holy grail among advertisers.

Impressionist art is starting to impress again. Monet's "Water Lilies" that couldn't get any bites four years ago at auction just got snatched up at Sotheby's (BID) for $54 million. That's the second highest price paid for a Monet at auction. And there were at least three bidders. Increased interest from Chinese buyers is bidding up the prices. Works by Picasso and Mondrian also pulled in a pretty penny.

On Wall Street on Monday, stocks weren't as hot as soccer or Monets. The Dow Jones industrial average (^DJI) and the Standard & Poor's 500 index (^GPSC) snapped their winning streak. The Dow industrials fell 10 points, the Nasdaq composite (^IXIC) gained half a point and the S&P 500 closed less than a point lower.

Avon (AVP) won't be calling as much. The company announced it is slashing 600 more jobs mainly in North America as part of its multiyear restructuring plan. This is on top of the 650 jobs it killed last December. Avon says the cuts will translate into savings of roughly $50 million to $55 million pre-tax a year. The door-to-door makeup seller has struggled to stay fresh against the competition and also faced a federal probe into allegations of bribing officials abroad. Five out of six of its last earnings reported losses.

And finally, a new report by the Department of Transportation shows the airlines collected $726 million in cancellation or change fees in the first quarter of this year. That's an almost 6 percent rise. Delta (DAL) took in the greatest change/cancellation fee revenue followed by United (UAL) then American Airlines (AAL).

Meanwhile the top 27 airlines surveyed posted a pre-tax operating profit of $1.7 billion in the quarter. That's a jump of 188 percent. Despite higher fees, traveling is on the rise this year.

-Produced by Karina Huber.


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texastotenmom

ovomit is selling america down the river just like 49% that voted for romney knew he was going to do,letting illegal immigrants "BREAK" into america n releasing 36,000 violent illegal immigtrants from our jails back into america that were slated for deportatioin.

June 24 2014 at 9:39 AM Report abuse +1 rate up rate down Reply