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MarketWatch for Friday, January 31, 2014

If you're keeping on top of the stock markets this morning, Friday, January 31, 2014....
If you're keeping on top of the stock markets this morning,  Friday, January 31, 2014....

The Nikkei is down 92 points today in Tokyo.
On Wall Street, stocks rallied.  The Dow climbed 109 points.
And the Nasdaq was up more than 71.


Good just wasn't good enough for Amazon. The online retailing giant said both profit and revenue grew last quarter, but the results were still below Wall Street's expectations. Sales were strong over the holidays, but Amazon paid big to ship gifts.  The company struck a deal with the U.S. Postal Service late last year to deliver packages on Sundays in New York and Los Angeles.

Google's quarterly profits fell short of estimates because of a drop in advertising prices. But sales were better than expected and Google announced a two for one stock split effective April 1st.

Federal prosecutors are asking a judge to order Bank Of America to pay $2.1 billion in penalties for knowingly selling bad home loans to mortgage giants Fannie Mae and Freddie Mac. The government says it wants Bank Of America to make a payment based on its total revenue from the fraud instead of the profit it made.

The feds are cracking down on Super Bowl counterfeiters. Investigators seized over $21 million in knockoff NFL merchandise including football jerseys, caps and other merchandise. They also shut down illegal websites and arrested dozens of people trying to illegally profit from Sunday's Super Bowl.


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