Market Minute: Foursquare Checks In with Investors; GE to Cut Credit Card Biz

Foursquare locates some big investors, and GE looks to return to its roots. Those stocks and more are what's in Friday's Market Minute.

The Dow Jones industrial average (^DJI) rose 16 points Thursday. The Standard & Poor's 500 index (^GPSC) added 3 and the Nasdaq composite index (^IXIC) gained 27 points.

Trading volume is likely to be light ahead of three-day holiday weekend. The market is closed Monday for Labor Day.

General Electric (GE) is reportedly preparing to spin off its huge credit-card business. The Wall Street Journal says the unit provides store-branded cards for 55 million customers of Walmart (WMT) and other stores. It earned $2.2 billion last year, but GE has been reducing the size of its financial business to put more emphasis on its industrial products.

Screenshot of the foursquare homepage
Microsoft (MSFT) is reportedly in talks to acquire a significant role in the social-media company Foursquare. According to Bloomberg, Foursquare is also in talks with other companies. For the uninitiated, Foursquare is a location-based app for mobile users to earn points from certain stores and other businesses.

Energy producer Apache (APA) has agreed to sell a third of its oil and gas business in Egypt to China's state-owned oil company. The deal is valued at more than $3 billion.

A federal judge Friday considers when to begin the anti-trust trial that could determine if the Justice Department can block the planned merger between American Airlines and US Airways Group (LCC). American wants that case to begin in November, while the government wants to wait until next March. It's important because a big delay could prevent American from exiting bankruptcy.

Shares of Krispy Kreme (KKD) are becoming deglazed. The doughnut company posted weaker-than-expected earnings and issued a disappointing forecast for the rest of the year.

But two software companies, Splunk (SPLK) and (CRM), are set to rally on upbeat outlooks.

And the outlook for Hewlett-Packard (HPQ), Dell (DELL) and the rest of the struggling PC industry is even worse than previously thought. The research firm IDC again lowered its global sales forecast for the year.

-Produced by Drew Trachtenberg.

Ways to Make Money on the Side
See Gallery
Market Minute: Foursquare Checks In with Investors; GE to Cut Credit Card Biz
PA for a day gives users the opportunity to hire a temporary personal assistant to do office work, run errands, walk pets, or do dozens of other jobs. While the website is great for harried professionals, it may be even better for workers looking to bring home a paycheck on a flexible schedule. If you're looking for a good-paying, short-term job where you can set your own schedule, why not drop them a line?
Are you good at putting together IKEA furniture? Do you have time to pick up a Craigslist item? Are you willing to go grocery shopping for someone else? If you answered yes to any of these questions, maybe you should think about joining TaskRabbit, a website where you can submit bids to do odd jobs. Depending on the task -- and on the area where you live -- you can make more than $40 per job.
Can you do a good celebrity voice imitation? Are you willing to film yourself wearing a hot dog suit and singing "Happy Birthday"? Are you a good artist? On, "the world's largest marketplace for small services," you can transform your cool skills into cool cash. Basically, you create a listing with the skill that you are willing to offer, set a price (usually $5 and up), and work on finding clients.

At this point, Etsy is hardly a moneymaking secret, but most people don't realize how easy it is to turn the do-it-yourself marketplace into a thriving business. As our earlier article on Fifty Shades of Grey demonstrated, the site makes it easy for an enterprising DIY-er to piggyback onto the latest pop culture trend.

Photo: Etsy

If you've ever wanted the joy of hanging out with a dog, but didn't want to sign on for the long-term commitment, you might consider joining Dog Vacay. The website pairs dog owners with dog lovers who are willing to babysit them for a short term. Prices start at $15 per night, but "hosts" can set their own rates. You're also allowed to take care of up to three dogs at a time, which means that -- if you're looking for a way to make some money on the side and don't mind sharing your couch with a furry friend -- this might be a great way to get some extra bucks.
Read Full Story
  • DJI25886.01306.611.20%
  • NIKKEI 22520418.8113.110.06%
    Hang Seng25734.22238.720.94%
  • USD (PER EUR)1.110.00000.00%
    USD (PER CHF)1.020.00000.00%
    JPY (PER USD)106.360.00000.00%
    GBP (PER USD)1.210.00000.00%