Stocks broadly higher…Industrial production down…Caesars has new CEO
NEW YORK (AP) – Health care companies are leading stocks broadly higher in early trading on Wall Street. UnitedHealth Group, the nation’s largest health insurance company, rose early today after beating first-quarter earnings forecasts and raising its estimates for the full year. Other health care sector companies also rose.
WASHINGTON (AP) – Industrial production dropped 0.1% in March from the previous month, pulled down by a drop in mining output. Factory output remained weak amid trade tension with China and a slowing global economy.
UNDATED (AP) – There are some positive earnings reports today. Johnson & Johnson is topping profit and revenue expectations for the first quarter partially on strong sales of its psoriasis treatment, Stelara. UnitedHealth Group reported strong first-quarter numbers driven by its main insurance business. And Bank of America profit rose 5.6% in the first quarter, while revenue remained flat.
NEW YORK (AP) – Caesars Entertainment is appointing a veteran of the Las Vegas Strip as its new chief executive. The casino giant named Tony Rodio as CEO today. The change in leadership comes two months after billionaire investor Carl Icahn disclosed a large stake in the casino and began pushing for fundamental changes.
FRANKFORT, Ky. (AP) – A 131-year-old Kentucky straight bourbon is ready to ramp up production in hopes of gaining a greater foothold in the U.S. market. Four Roses Distillery is celebrating the completion of a $55 million expansion that doubles production capacity at its plant in Lawrenceburg, Kentucky. Since their reintroduction back in 2002, Four Roses has spread to all 50 states along with dozens of foreign markets. But demand outpaced supply, a problem the distiller hopes will vanish with the expansion.