CNN Money's Maribel Aber has your top business and financial news on this Friday, May 9.
NEW YORK, NY (CNN) - CNN Money's Maribel Aber has your top business and financial news on this Friday, May 9.
Windstream Holdings Inc. of Little Rock on Thursday reported a 69 percent decline in first-quarter profit and 2 percent drop in revenue. The telecommunications firm (Nasdaq: WIN) said first-quarter earnings were $16 million, or 2 cents per share, compared with $52 million, or 9 cents per share, in the same quarter last year. Earnings came on revenue of $1.46 billion, down from $1.49 billion in the same quarter last year. Windstream, which held its annual meeting on Wednesday, also affirmed its previous guidance for 2014.
Mortgage interest rates hit their lowest levels for 2014 this week. The average interest charged to borrowers for a 30-year, fixed rate loan fell to 4.21% from 4.29% last week, according to Freddie Mac's weekly mortgage rate report. Rates have not been this low since the week of November 7, when they were at 4.16%. The 15-year, fixed rate mortgage, a popular loan for homeowners refinancing existing mortgages, hit 3.32%, down from 3.38% last week.
Jeep is using the King of Pop to help boost sales of its Wrangler and Cherokee brands. Jeep's latest ad campaign, features Michael Jackson's "Love Never Felt So Good," a previously unreleased song that he was working on. A new album, Xscape, will be released later this month and will feature eight tracks from Jackson, who died in 2009. The Jeep ads were created by advertising agency GlobalHue, according to a news release from the company.
Burger King is adding hamburgers to its breakfast menu. A Burger King (BKW) spokeswoman told CNNMoney on Thursday that 5,000 of its restaurants will participate in its new program, called Burgers at Breakfast. The new menu will include a variety of Whopper sandwiches, cheeseburgers and chicken sandwiches as well as French fries and apple pie. Burger King wouldn't say when it will begin offering burgers for breakfast.