The times. (Gainesville, Ga.) 1972-current, December 22, 2018, Image 11

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The times., December 22, 2018, Image 11

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Newspaper Page Text0D BUSINESS Jeff Gill | Business reporter 770-718-3408 | jgill@gainesvilletimes.com The Times, Gainesville, Georgia Saturday, December 22, 2018 Economy sees solid third quarter growth BY MARTIN CRUTSINGER Associated Press WASHINGTON - The U.S. economy expanded at a solid 3.4 percent annual rate in the third quarter, slightly slower than the pre vious estimate as consumer spending and exports were revised lower. The economy is expected to slow further in the current quarter. The Commerce Depart ment said Friday that growth in the gross domes tic product, the economy’s total output of goods and services, was revised down from an earlier estimate of 3.5 percent. The still-strong performance followed a 4.2 percent advance in the sec ond quarter and a moderate 2.2 percent increase in the first quarter. Economists believe that economic growth is slow ing in the fourth quarter to around 2.5 percent. For the full year, GDP growth is pro jected to top 3 percent — the best showing since 2005. President Donald Trump has often cited the upturn in economic growth as evi dence his economic pro gram, which includes a $1.5 trillion tax cut passed last year, has lifted the economy. However, analysts believe BEN MARGOT I Associated Press A container ship waits to be unloaded at the Port of Oakland, Jan. 30, in Oakland, Calif. the boost from the tax cut ment spending Congress and increased govern- approved last February will begin to fade in 2019. They are forecasting growth will slow to around 2.7 percent in 2019. Some analysts believe by 2020, GDP growth may be barely above 1 percent or could slip into a recession that year. The Trump administra tion insists the impact from the tax cuts, deregulation and tougher enforcement of trade agreements will keep the economy expanding at a sustained rate of 3 percent in coming years. The GDP report on Fri day was the government’s third and final look at the July-September quarter. Driving Friday’s down ward revision was an even bigger decline in exports of a category that includes industrial machinery, as well as slower consumer spending on non-durable goods such as gasoline and other energy products. The Federal Reserve on Wednesday boosted its key policy rate for a fourth time this year but lowered its outlook for rate hikes next year from three to two. The projection of fewer future rate hikes failed to calm Wall Street investors, who sent stocks sharply lower. They had hoped for the Fed to declare a pause in its rate hike campaign. Hotels encourage digital detox TERESA CRAWFORD I Associated Press Adam Bryan and his son, Wesley, work together on puzzles included in incentives by the Wyndham Grand Hotel in Chicago on Dec. 1. Some resorts offer incentives to guests who lock away devices BUSINESS HIGHLIGHTS Fire risk forces Ford pickup truck recall DETROIT — Ford is recalling more than 874,000 F-Series pickup trucks with engine block heaters in the U.S. and Canada because they can catch fire. The recall covers certain F-150s from the 2015 through 2019 model years, as well as the 2017 through 2019 F-250, 350, 450 and 550. The company says in documents posted Friday on the U.S. National Highway Traf fic Safety Administration website that water and contaminants can get into the heater cable and cause corrosion. That can cause electrical shorts and possible fires. Engine block heaters warm the engines so they can start and warm up faster in extreme cold temperatures. The company says the risk of fire happens only when the block heater cable is plugged into an electrical outlet. Ford has received three reports of fires in Canada, but none in the U.S. Minor property damage was reported in one incident, but there haven’t been any reports of injuries, Ford said in a statement. Dealers will inspect and seal the cable or replace the heaters if needed. The recall is expected to start in the U.S. on Jan. 7. F-Series pickups are the top-selling vehi cle in the United States. Amazon expands jet fleet BY DEE-ANN DURBIN Associated Press Can you take a vacation from your cellphone? A growing number of hotels will help you find out. Some resorts are offering perks, like snorkeling tours and s’mores, to guests who manage to give up their phones for a few hours. Some have phone-free hours at their pools; others are banning distracting devices from public places altogether. Hotels that limit cellphone use risk losing valuable expo sure on Instagram or Face- book. But they say the policies reflect their mission of promot ing wellness and relaxation. And they hope that happily unplugged guests will return for future visits. “Everyone wants to be able to disconnect. They just need a little courage,” said Lisa Chec- chio, Wyndham Hotels’ chief marketing officer. People’s inability to discon nect is an increasingly seri ous issue. Half of smartphone users spend between three and seven hours per day on their mobile devices, according to a 2017 global survey by Counter point Research, a technology consulting firm. In a separate study by the nonprofit Common Sense Media, 69 percent of par ents and 78 percent of teens said they check their devices at least hourly. Wyndham knew it had a problem when hotel managers requested more beach chairs to accommodate all the people who would sit in them and stare at their phones. It discovered that the average resort guest was bringing three devices and checking them once every 12 minutes — or roughly 80 times a day. On Oct. 1, Wyndham Grand’s five U.S. resorts began offering prime spots by the pool, free snacks and the chance to win return visits when guests put their phone in a locked pouch. The phones stay with the guests, but only hotel staff can unlock the pouches. Wyndham says 250 people have used the pouches so far at resorts in Florida and Texas. The program will be found at more hotels next year. Wyndham Grand resorts also give families a 5 percent discount on their stay if they put their phones in a timed lockbox. The hotel provides supplies for a pillow fort, s’mores, a bedtime book and an instant camera for adults and kids who don’t know what to do with all the newfound time on their hands. That appeals to Matthew Cannata, who heads public relations for the New Brit ain, Connecticut, schools. He worries about the impact of technology on his two young children, and he tries to keep devices out of sight during fam ily meals. “Any chance I can get to put the phone away is great. Some times, people need to be forced to do things to start a thought process and then create a habit,” he said. At the Grand Velas Riviera Nayarit in Mexico, a so-called Detox Concierge will “cleanse” your suite of all electronic devices and replace them with games like Jenga and chess. Guests at its sister resort, the Grand Velas Riviera Maya, trade in their phones for a bracelet that gives them free access to activities like snorkel ing; they must do at least four activities to earn back their phones. A timer placed in the lobby shows how long each family has lasted without their devices. At Miraval, a Hyatt-owned resort in Arizona, the emphasis is less on family time than on mindfulness and tranquility. Miraval bans phone use in pub lic areas. Guests are encouraged to tuck their phones into soft cot ton bags and leave them on small beds in their rooms. Staff wears name tags with remind ers that guests should unplug and “be present.” NEW YORK — Amazon is expanding its airplane fleet, diminishing further its reli ance on major delivery services like UPS, FedEx and the U.S. Postal Service. The company said Friday it will lease 10 Boeing 767s planes, bringing its total fleet to 50 with the goal of getting orders to people faster and more reliably. Amazon’s fleet of planes is far smaller than those at UPS and FedEx, which num ber in the hundreds, but it’s pushed in recent years to gain more control over deliveries. Amazon launched a program over the summer that allows contractors around the country to deliver Amazon packages in vans stamped with the Amazon smile logo. It also plans to open a package sorting hub at Fort Worth Alliance Airport in Texas next year and another at Cincinnati/Northern Ken tucky International Airport in 2021. FedEx CEO Frederick Smith said this week that he didn’t see Amazon Air as a competitor and that it was “fantastical” to think it could disrupt FedEx. A number of industry watchers see a more significant threat. Analysts at Morgan Stanley estimated that FedEx and UPS could lose a combined 2 percent of revenue this year to Amazon Air. The Seattle company says the 10 new jets will join the rest of its fleet over two years. Associated Press Stock Exchange Highlights V NYSE 11,036.84 -185.95 B Nasdaq W 6,332.99 -195.41 Gainers (S2 Name Last OR MORE) Chg %Chg SuzanoP n 22.00 CastlightH 2.17 Amrep 6.65 AmTrFn 55 18.66 CarboCer 3.25 NikeB s 72.37 Genworth 4.51 SunlOnl n 2.40 RevGp n 7.34 Ennis Inc 18.51 +2.95 +15.5 +.20 +10.2 +.58 +9.6 +1.56 +.26 +4.84 +.29 +.14 +.39 +.95 +9.1 +8.7 +7.2 +6.9 +6.2 +5.6 +5.4 Losers (S2 or more) Name Last Chg %Chg Perrigo 37.03 FourSeEd n 2.79 Yirendai n 10.35 DxBiotBII rs 25.55 CampWrl n 11.24 Navios pfG 2.85 NLInds 3.13 ChaparrE n 5.22 TownsqMda 4.27 W&T Off 3.77 -15.33 -29.3 -.56 -16.6 -1.61 -13.5 -3.80 -12.9 -1.61 -12.5 -.38 -11.7 -.39 -11.1 -.63 -10.8 -.51 -10.7 -.44 -10.5 Most Active ($1 on more) Name Vol (00) Last Chg GenElec 1855001 BkofAm 1590705 Kinross g 1345113 AT&T Inc 792307 ChesEng 615644 Pfizer 586386 Oracle 577819 FordM 575016 WellsFargo 555743 VerizonCm 544469 7.15 -.29 23.37 -.74 3.12 -.02 28.31 -.34 1.90 +.06 41.93 -.02 44.00 -2.24 8.05 -.21 45.12 -.92 54.92 -.15 Diary Advanced Declined Unchanged Total issues New Highs New Lows Volume 602 2,249 45 2,896 3 999 7,518,847,241 Gainers ($2 Name Last OR more) Chg %Chg ObalonT n 2.65 Astrotch rs 5.00 SmaashEnt 2.32 NFEngSv 13.66 AdialPh n 4.30 MarinSft rs 9.75 ChromaDx n 3.54 Equillium n 7.75 Brainstorm 3.55 Neonode rs 2.20 +1.01 +61.6 +1.62 +47.9 +.73 +45.7 +4.11 +43.0 +1.23 +40.1 +2.59 +36.2 +.73 +26.0 +1.43 +22.6 +.57 +19.1 +.35 +18.9 Losers ($2 or more) Name Last Chg %Chg Wheelr pfB 6.80 Wheelr pfD 9.00 CreatReal n 2.00 SG Blok n 2.50 TherpxBio n 3.50 Bionano n 5.12 Inpixon rs Arsanis n EditasM n MarinusPh 3.21 2.37 18.19 2.40 -7.30 -51.8 -6.76 -42.9 -.72 -26.3 -.86 -25.5 -1.04 -22.9 -1.43 -21.8 -.89 -21.7 -.63 -21.0 -4.77 -20.8 -.62 -20.5 Most Active ($1 or more) Name Vol (00) Last Chg AMD 1295608 16.93 -1.01 Microsoft 1109061 98.23 -3.28 Apple Inc 954639 150.73 -6.10 Cisco 751142 41.85 -.64 Facebook 566084 124.95 -8.45 MicronT 534825 30.32 -.96 Intel 525213 44.84 -.70 JD.com 494550 21.08 +1.17 HuntBncsh 436219 11.59 Comcast S 386807 33.75 -.87 Diary Advanced Declined Unchanged Total issues New Highs New Lows Volume 608 2,356 112 3,076 8 1,032 4,456,665,410 Stocks of Local Interest Name Ex YTD Div Yld PE Last Chg %Chg AFLAC S 1.04 2.4 13 43.23 -.17 0.0 HuntBncsh .56 4.8 11 11.59 ... -20.4 AT&T Inc 2.04 7.2 6 28.31 -.34 -27.2 Intel 1.20 2.7 17 44.84 -.70 -2.9 AbbottLab 1.28 1.9 29 67.27 -1.11 +17.9 IBM 6.28 5.7 8 110.94 -2.08 -27.7 AMD 16.93 -1.01 +64.7 JPMorgCh 2.24 2.4 13 94.17 -2.28 -11.9 Altria 3.44 7.0 16 49.09 -1.35 -31.3 JohnJn 3.60 2.8 18 128.09 -.18 -8.3 Apple Inc 2.92 1.9 15 150.73 -6.10 -10.9 Kinross g 24 3.12 -.02 -27.8 ATMOS 1.94 2.1 18 94.46 -.64 +10.0 Lowes 1.92 2.2 19 87.64 -1.52 -5.7 AutoZone 17 826.04 -.18 +16.1 McDnlds 4.64 2.7 26 174.15 +.47 +1.2 AveryD 2.26 2.6 25 85.95 -.74 -25.2 Merck 2.20 3.0 27 72.90 -.59 +29.6 BB&T Cp 1.62 3.8 12 42.38 -.81 -14.8 MicronT 2 30.32 -.96 -26.3 BP PLC 2.38 6.3 11 37.67 +.41 -10.4 Microsoft 1.84 1.9 41 98.23 -3.28 +14.8 BkofAm .60 2.6 11 23.37 -.74 -20.8 NorflkSo 3.20 2.2 22 144.38 -1.56 -.4 BamesNob .60 10.4 5.79 -.43 -13.6 OfficeDpt .10 4.7 6 2.12 -.21 -40.1 BarrickG .28 2.1 73 13.12 -.26 -9.3 Oracle .76 1.7 47 44.00 -2.24 -6.9 Boeing 8.22 2.7 28 304.55 -8.50 +3.3 Penney 1.09 -.03 -65.5 BrMySq 1.64 3.3 49 49.82 -.24 -18.7 PepsiCo 3.71 3.4 32 109.42 -.79 -8.8 CSX .88 1.4 9 60.70 -.91 +10.3 Pfizer 1.44 3.4 17 41.93 -.02 +15.8 CampSp 1.40 3.9 13 35.75 -1.92 -25.7 PhilipMor 4.56 6.9 16 66.21 -2.87 -37.3 Caterpillar 3.44 2.9 11 120.07 -1.48 -23.8 Primerica 1.00 1.0 12 95.64 -1.78 -5.8 ChesEng 3 1.90 +.06 -52.0 ProctGam 2.87 3.2 22 90.97 -.01 -1.0 Chevron 4.48 4.3 22 104.21 -.77 -16.8 Qualcom 2.48 4.5 54.85 -1.52 -14.3 Cisco 1.32 3.2 18 41.85 -.64 +9.3 RegionsFn .56 4.4 11 12.86 -.05 -25.6 Citigroup 1.80 3.6 8 50.24 -2.03 -32.5 SiriusXM .05 .9 31 5.59 -.30 +4.3 CocaCola 1.56 3.3 90 47.57 +.03 +3.7 SouthnCo 2.40 5.3 21 45.09 ... -6.2 Comcast s .76 2.3 16 33.75 -.87 -15.4 SunTrst 2.00 4.1 8 48.50 -.24 -24.9 ConAgra .85 3.8 12 22.15 -2.13 -41.2 SynovusFn 1.00 3.2 11 30.88 -.39 -35.6 Cummins 4.56 3.6 36 128.22 -1.89 -27.4 3M Co 5.44 3.0 25 183.75 -3.63 -21.9 DenburyR 1.55 -.11 -29.9 Torchmark .64 .9 6 72.53 -1.29 -20.0 Disney 1.76 1.7 14 104.22 -2.78 -3.1 Transocn 6.49 -.15 -39.2 DowDuPnt 1.52 3.0 16 50.59 -.45 -29.0 Twitter 27.31 -1.98 +13.7 eBay s 11 26.58 -1.41 -29.6 Tyson 1.20 2.3 9 51.73 -1.61 -36.2 Equifax 1.56 1.7 16 91.00 -.28 -22.8 UtdCmBks .64 3.1 12 20.61 -.02 -26.8 ExxonMbl 3.28 4.8 13 68.12 -.51 -18.6 UPS B 3.64 3.9 16 93.50 -.44 -21.5 Facebook 23 124.95 -8.45 -29.2 VerizonCm 2.41 4.4 7 54.92 -.15 +3.8 FordM .60 7.5 4 8.05 -.21 -35.5 Vodafone 1.74 9.0 19.35 -.65 -39.3 GenElec .04 .6 7.15 -.29 -59.1 WalMart 2.08 2.4 50 87.13 -.15 -11.8 GenuPrt 2.88 3.1 20 93.21 -.59 -1.9 Weathflntl .27 +.02 -93.5 HP Inc .64 3.3 6 19.65 -.42 -6.5 WeisMk 1.24 2.6 11 47.33 +.16 +14.4 Haverty .72 3.9 19 18.36 -.01 -18.9 WellsFargo 1.72 3.8 11 45.12 -.92 -25.6 Hershey 2.89 2.7 23 105.91 -.52 -6.7 YumBrnds 1.44 1.6 31 88.14 +1.02 +8.0 HomeDp 4.12 2.6 18 160.48 -3.68 -15.3 Zynga 91 3.63 +.04 -9.3 Name Ex YTD Div Yld PE Last Chg %Chg Stock Footnotes: g = Dividends and earnings in Canadian dollars, h = Does not meet continued-listing standards. If = Late filing with SEC. n = New in past 52 weeks, pf = Preferred, rs = Stock has undergone a reverse stock split of at least 50 percent within the past year, rt = Right to buy security at a specified price, s = Stock has split by at least 20 percent within the last year, un = Units, vj = In bankruptcy or receivership, wd = When distributed, wi = When issued, wt = Warrants. Fund Footnotes: m - Multiple fees are charged, usually a marketing fee and either a sales or redemption fee. Source: The Associated Press. Sales figures are unofficial. Stock Market Indexes Dow Jones industrials Close: 22,445.37 Change: -414.23 (-1.8%) 27,000 26,000 25,000 24,000 23,000 24,840 23,600 22,360 10 DAYS J J A S O N D 52-Week Net YTD 12-mo High Low Name Last Chg %Chg %Chg %Chg 26,951.81 22,644.31 Dow Industrials 22,445.37 -414.23 -1.81 -9.20 -9.33 11,623.58 8,941.64 Dow Transportation 8,874.79 -155.15 -1.72 -16.37 -16.86 762.26 647.81 Dow Utilities 722.38 -7.04 -.97 -.14 +.18 13,637.02 11,126.95 NYSE Composite 11,036.84 -185.95 -1.66 -13.83 -13.76 8,133.30 6,447.91 Nasdaq Composite 6,332.99 -195.41 -2.99 -8.26 -9.01 1,309.73 1,084.57 S&P 100 1,071.32 -25.04 -2.28 -9.45 -9.90 2,940.91 2,441.18 S&P 500 2,416.62 -50.80 -2.06 -9.61 -9.94 2,053.00 1,626.56 S&P MidCap 1,611.35 -32.98 -2.01 -15.22 -15.40 30,560.54 25,063.36 Wilshire 5000 24,792.95 -540.44 -2.13 -10.80 -11.02 1,742.09 1,313.02 Russell 2000 1,292.09 -33.91 -2.56 -15.85 -16.26 Mutual Funds Name Total Assets Obj ($Mlns) NAV Total Return/Rank 4-wk 12-mo 5-year Pet Load Min Init Invt Vanguard 500ldxAdmrl LB 253,238 223.00 -8.6 -8.3/B +8.0/A NL 3,000 Vanguard TtlSMIdxAdmrl x LB 203,888 59.77 -9.1 -9.0/C +7.5/B NL 3,000 Fidelity 500ldxlnsPrm LB 164,099 84.03 -8.6 -8.2/B +8.0/A NL 0 Vanguard TtlSMIdxinv x LB 129,896 59.75 -9.1 -9.1/C +7.3/B NL 3,000 Vanguard TtlnSIdxinv x FB 128,269 14.81 -5.8 15.6/B +0.9/B NL 0 Vanguard TtlSMIdxIns x LB 123,279 59.78 -9.1 -9.0/C +7.5/A NL 5 000,000 Vanguard Insldxlns LB 116,738 219.26 -8.6 -8.3/B +8.0/A NL 5 ,000,000 Vanguard InsidxInsPlus LB 104,731 219.27 -8.6 -8.2/B +8.0/A NL100,000,000 Vanguard TtlnSIdxinsPlus x FB 95,758 99.10 -5.8 -15.5/B +1.0/A NL100,000,000 Fidelity Contrafund LG 91,616 10.46 -7.6 -7.5/C +8.5/B NL 0 Vanguard TtBMIdxAdmrl Cl 86,606 10.41 +1.5 0.0/B +2.3/C NL 3,000 Vanguard WlngtnAdmrl MA 86,207 62.72 -5.0 -5.4/B +6.1/A NL 50,000 Cl -Intermediate-Term Bond, FB -Foreign Large Blend, IH -World Allocation, LB -Large Blend, LG -Large Growth, LV -Large Value, MA -Moderate Allocation, WS -World Stock, Total Return: Chng in NAV with dividends reinvested. Rank: How fund performed vs. others with same objective: A is in top 20%, E in bottom 20%. Min Init Invt: Minimum $ needed to invest in fund. Source: Morningstar.