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LITTLE ROCK, Ark. (Arkansas Business) -- Investors had little to cling to on Tuesday as they awaited some key economic reports that will come out over the next few days.

First, today the government will release its look at economic growth in the spring quarter and the Federal Reserve will finishes a two-day meeting.

The on Friday the Labor Department will release its monthly report on the jobs market. And speaking of jobs another key local announcement happens today.

The Arkansas Economic Development Commission planning what it calls a "job creations" announcement at 10 a.m. in Monticello.

Gov. Mike Beebe is scheduled to attend. No word yet on what that announcement could be.

Windstream Holdings Inc. getting attention

Windstream Holdings Inc. of Little Rock is getting the attention of the country's telecommunications industry yesterday.

Windstream planning to spin off its copper and fiber optic network assets into a separate, publicly traded company by the first quarter of 2015.

CEO Jeff Gardner says the deal will allow Windstream to pay off $3.2 billion in debt and invest in improvements to the enterprise data services company's network.

The deal is the first of its particular kind in telecommunications, and Gardner expects the separate, new company to eventually acquire the assets of other telecommunications firms.

Analysts have also said companies like CenturyTel, AT&T and Verizon might also study the deal and perhaps create a similar arrangement in order to save on taxes and pay debt.

Walmart stores & online shopping apps

Wal-Mart Stores Inc. of Bentonville continued to snap up online social shopping apps.

Wal-Mart Stores Inc.'s social media division WalmartLabs said Tuesday that it purchased the shopping app Luvocracy.

Sixteen of the firm's 20-person staff will join WalmartLabs, which is shutting down the service. Luvocracy is similar to Pinterest.

Earlier this year, Wal-Mart acquired Yumprint of Seattle, planning to use the company's recipe technology for its grocery delivery efforts on Walmart.com.

It also bought another shopping app called Stylr.

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