Arkansas Business: All stocks down & economic reports released

LITTLE ROCK, Ark. (Arkansas Business) -- The Dow logged its worst one-day drop since February on as a mix of worries encouraged a big sell-off.

The Dow now standing at a slight loss for the year so far as investors sifted through some weak corporate results and weighed tensions between the West and Russia.

There were also worries that the Federal Reserve could begin raising interest rates particularly after a good report this week on economic growth in the U.S.

Meanwhile, they'll be bracing for another key economic report today. The U.S. Labor Department set to release its monthly employment report at 7:30 local time.

Economists surveyed by the Wall Street Journal expect the economy to have added 230-thousand jobs in July and for the unemployment rate to remain unchanged at 6.1 percent.

We'll get the official numbers in less than an hour.

AR trucking companies releases 2nd quarter results

Two of the state's publicly traded trucking firms turned in improved second-quarter results.

First, USA Truck Inc. of Van Buren reported its first profitable quarter since 2011, with quarterly net income of $700,000. That's up from a $1.4 million loss in the same quarter last year.

CEO John Simone, on the job for less than a year, says the company is seeing growth in virtually every area of its business.

And ArcBest Corp. of Fort Smith reporting $17 million in second-quarter profit that figure more than triple what it reported last year as the company's non-asset based businesses, including services like its Panther Premium Logistics subsidiary, all saw sales increases.

In all, both ArcBest and USA Truck, which are working hard to turn around their respective businesses, posted revenue increases despite a slow start to the first part of the year and a driver shortage that's dogging the whole industry.

Home Bancshares Inc. expanding again

Home BancShares Inc. of Conway is expanding again.

The parent company of Centennial Bank said it will buy Broward Financial Holdings Inc., the parent company of Broward Bank of Commerce of Fort Lauderdale, Florida.

It's Home BancShares' second Florida acquisition this year.

The firm will pay between $33 million and $34 million for the two-branch bank.


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