LITTLE ROCK, Ark. (Arkansas Business) -- Investors push the stock market to all-time highs Wednesday despite a handful of disappointing economic reports.
Google's stock topped $900 for the first time after the company announced several upgrades to its Android software for smartphones, and shares of Macy's rose after beatings Wall Street's profit estimates.
This comes after the market got off to a weak start, then turned higher in late morning trading. By 3 p.m. it was back to breakeven, and a late surge left indexes higher.
Dillard's reporting record 1st quarter earnings
Here in Arkansas, the latest earnings from Arkansas public companies. First, Dillard's Inc. of Little Rock reported record first-quarter earnings.
The department store chain said first-quarter profit reached $117 million including some one-time items, Dillard's earnings up 19 percent.
Still, same-store sales rose 1 percent -- which was less than 5 percent gain the retailer posted in the same quarter last year.
Acxiom reporting 1st quarter earnings loss
And data services company Acxiom Corp. of Little Rock turning in a tough fourth quarter. Its earnings are down 71 percent to $13 million.
Revenue also fell, dropping 3.5 percent to $277 million. Profit was down for the full year as well, off 25 percent to $57.6 million.
Acxiom CEO Scott Howe called fiscal 2013 a year of transition for the firm.
Wal-Mart set to buy two software companies
And Wal-Mart Stores Inc. of Bentonville, adding to its e-commerce arsenal as it continues to try grow online sales in a battle with Amazon.com.
The world's largest retailer this week purchasing two software companies, one called OneOps and another called TastyLabs.
Both firms were founded by prominent Silicon Valley engineers, some formerly connected to companies like eBay and Mozilla.
Wal-Mart says the companies will help it strengthen its cloud-based operations and other software efforts.
Since 2011, Wal-Mart has poured millions of dollars into its e-commerce division. Wal-Mart is increasingly battling online-only rival Amazon, which posted $61.1 billion in revenue in 2012, up 27 percent from the previous year.
Wal-Mart, born as a brick-and-mortar discount retailer decades before the birth of the web, expects to post $9 billion in online sales in the current fiscal year.