NEWS-04
service and Cyber Monday sales are expected to break a record.>
companies and banks were hardest hit. Amazon lost over one and a half
percent. Barnes & Noble fell about two percent. The Dow finished fifty-four
points lower. The S&P lost eleven points.>
On the CBS MoneyWatch, AT&T gets ready to launch a streaming service and Cyber Monday sales are expected to break a record. Jill Wagner is at the New York Stock Exchange with that and more. Good morning, Jill.
JILL WAGNER: Good morning, Anne-Marie. Stocks retreated Monday following last week`s big gains. Consumer companies and banks were hardest hit. Amazon lost over one and a half percent. Barnes & Noble fell about two percent. The Dow finished fifty-four points lower. The S&P lost eleven points. The NASDAQ was down thirty points.
AT&T is getting into the streaming TV business. The new service called DirecTV Now will be available starting tomorrow. It will offer more than a hundred channels for a starting price of thirty-five dollars a month.
The blood testing company Theranos is being sued for fraud. The suit alleges Theranos made false claims about its operations and technology to lure investors. The suit`s being brought by Robert Colman. He is a Silicon Valley dealmaker who invested in the company back in 2013. This year Theranos announced it was closing its labs and wellness centers following news that its blood testing technology was not what it seemed.
The World Trade Organization, an international trade body, found that aircraft manufacturer Boeing received illegal tax breaks from Washington State. The WTO says in exchange for subsidies Boeing agreed to keep production of wings for one of its planes in the state effectively excluding foreign competition. This is part of a larger legal battle between the U.S., Boeing, the European Union, and aircraft manufacturer Airbus.
Cyber Monday packed a big retail punch but cyber sales really flourished over the entire Thanksgiving weekend. The Monday after Thanksgiving is still the single busiest online shopping day in the United States. Online shoppers were projected to hit a record 3.3 billion in sales, up more than ten percent from last year. Adobe Digital Insights, which tracks online retail sales, says cyber sales on Black Friday reached 3.3 billion, up twenty-one percent.
And, today is Giving Tuesday. It`s described as the annual kickoff for the charity season with people around the world donating to the charity of their choice. Last year on Giving Tuesday, one hundred and sixteen million dollars was raised online from about seven hundred thousand donors in seventy-one countries. Anne-Marie.
ANNE-MARIE GREEN: Love this idea. Love it as a tradition. A good reminder of what the season is all about, right, Jill?
JILL WAGNER: Absolutely, giving back a little.
ANNE-MARIE GREEN: You got it, Jill Wagner at the New York Stock Exchange. Thank you so much.
Still ahead, new Zika fears, the first locally transmitted case of the virus is reported in Texas. We`ll look at what people are doing to protect themselves.
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ANNE-MARIE GREEN: Some veterans and their families will join Michelle Obama today for a holiday party. The Christmas tree that arrived Friday from Wisconsin has been decorated. The event is part of the first lady`s Joining Forces campaign. The kids will make holiday crafts and everyone will be treated to goodies from the White House kitchen.
And, a new law aims to improve response time for desperate veterans. The bill signed yesterday by President Obama calls for quick follow-up on calls to a suicide hotline. Investigators found that some crisis calls were being taken by under qualified staffers at the Department of Veterans Affairs.
Texas is reporting the first case of Zika that probably came from a mosquito bite in the state. Health officials say a Brownsville woman who reported no travel to other affected areas has the virus. Now, Florida is the only other state where Zika has spread locally. Health officials will be going door to door in the area around the patient`s home to educate the public.
And, some homeopathic treatments for children are being recalled because they contain small amounts of a toxin, belladonna extract. Raritan Pharmaceuticals is taking its teething tablets and ear relief liquid off the shelves. The FBA said-- the FDA, rather, says that no harm to consumers has been reported, though.
Well, coming up after your local news on CBS THIS MORNING, we will take you to PayPal`s command center.
I`m Anne-Marie Green. This is the CBS MORNING NEWS.
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ANNE-MARIE GREEN: Here`s another look at this morning`s top stories. Wildfires have forced the evacuations in two east Tennessee towns, Gatlinburg and Pigeon Forge, popular tourist destinations near the Great Smoky Mountain National Park. Nearby the Dollywood resort was also evacuated last night.
And, a car-- and knife attack at Ohio State University is being investigated as a possible act of terrorism. Eleven people were injured yesterday, one is in critical condition. A Somali-born attacker was shot and killed by police.
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