QUOTE OF THE DAY “You’re hard-pressed to make much of weekly wiggles.We still expect that the broader trend in claims will continue to hover around 300,000.” Tom Porcelli,
RBC Capital Markets LLC chief U.S. economist, on Thursday’s weekly unemployment claims report Article, 1DWal-Mart on EPA’s renewable energy list
Wal-Mart Stores Inc. made it onto the U.S. Environmental Protection Agency’s list of Top 10 companies that use electricity from clean, renewable resources such as wind and solar power.
The agency released its Top 100 list this week with Wal-Mart taking the No. 6 spot behind No. 1 Intel Corp., Kohl’s Department Stores, Microsoft Corp., Whole Foods Market and Google Inc. The list is calculated based on annual “green” power usage in kilowatt hours. Those on the list are considered Green Power Partners.
“By using green power, these companies and organizations are showing that business can flourish while taking meaningful steps to reduce carbon pollution,” EPA Administrator Gina McCarthy said in a statement. “Making cleaner choices to power our communities, institutions and businesses reduces the pollution that contributes to climate change, protects America’s health and environment, and supports continued growth in the green power sector. “
Intel Corp. continues its seven-year run as the nation’s largest voluntary user of renewable power, meeting 100 percent of its electricity load with renewable resources, the EPA said.
Choctaw Casino adds off-track betting
The Choctaw Casino Hotel in Pocola, Okla. near Fort Smith is opening its new off-track betting room today in time for the Kentucky Derby.
The racebook contains room for 60 and includes two 46-inch displays, a dozen 55-inch displays, four 65-inch displays and a 15-by-15-foot high-definition screen. The racebook has six self-serve betting stations and cocktail and restaurant service.
“We’re always looking to offer more gaming options to better serve our guests, and the addition of off-track betting is something that we’ve all [been] anticipating,” Walter Allen, marketing director and player development director at Choctaw Casino Hotel, said in a release.
The Kentucky Derby is May 3. The racebook will be open daily from 11 a.m. but will open earlier for special race events throughout the year.
The Choctaw Nation expanded and enhanced the gambling floor at its Pocola casino just off Interstate 540 in 2012 and added a hotel in 2013. It has 2,200 slot games, a 12-table gambling pit and a high-limit area. The hotel has 118 rooms along with suites and luxury suites.
Baker Hughes to list fracking chemicals
PITTSBURGH - A major supplier to the oil and gas industry said it will begin disclosing 100 percent of the chemicals used in hydraulic fracturing fluid, with no exemptions for trade secrets. The move by Baker Hughes of Houston is a major shift; it’s unclear if other firms will follow suit.
Environmental and health groups have criticized the industry for not disclosing all of the chemicals used in drilling.
A statement on the Baker Hughes website says company officials believe it is possible to disclose all of the ingredients without compromising proprietary formulas. A spokesman couldn’t immediately say when the new policy will begin.
Jerry Baker of the Interstate Oil & Gas Compact Commission in Oklahoma City said he doesn’t know of any other major supplier that has made a similar pledge.
Caterpillar’s 1st-quarter profit rises 5%
Caterpillar’s first-quarter earnings rose 5 percent, and the construction equipment-maker raised its 2014 forecast. But the company also said Thursday that a mining equipment sales slump is still hurting results.
The Peoria, Ill., company now expects 2014 earnings of $6.10 per share excluding restructuring costs. That’s up from its previous forecast for $5.85 per share and well above Wall Street expectations.
Analysts expect earnings of $5.72 per share, on average, according to FactSet.
Caterpillar Inc. shares jumped almost 3 percent by midday Thursday.
Caterpillar said it earned $922 million, or $1.44 per share, in the quarter that ended March 31. That compares to $880 million, or $1.31 per share, last year.
Earnings totaled $1.61 per share, excluding restructuring costs. Total revenue was nearly flat at $13.24 billion.
Analysts forecast earnings of $1.21 per share on $13.09 billion in revenue.
Caterpillar also makes power systems that include large electrical generators and locomotive engines.
A downturn in heavy equipment used in mining hit the company hard last year, when its profit tumbled about 33 percent to $3.79 billion. Mining gear generates higher profit margins for Caterpillar than many other parts of its business.
Caterpillar shares rose $1.90, or 1.8 percent, to close Thursday at $105.28.
- The Associated Press
Business, Pages 30 on 04/25/2014