Upward revisions: A gauge of future economic activity posted an increase in December, providing evidence the economy was gaining strength as the year ended. The Conference Board says its index of leading economic indicators rose 0.4% last month following a revised 0.2% increase in November and a revised 0.6% gain in October. The December report reflects extensive changes in how the index is put together, which the Conference Board hopes will make the index a better forecaster of where the economy is headed. Conference Board economist Ken Goldstein says the December index reading provides support for cautious optimism about how the economy will perform in the first half of 2012.
Back on the top again: Apple briefly surpassed Exxon as the most valuable U.S. company on Wednesday after releasing an excellent quarterly report, but the oil company regained the lead by the time the markets closed for the day. Apple’s stock rose as much as 8%, while Exxon’s fell as much as 2% during trading on the day. Exxon Mobil Corp.’s stock closed up 4 cents at $87.22 for a market capitalization of $418 billion. Apple’s increased 6% to $446.66 for a market cap of about $415 billion. Apple said Tuesday that net income in its latest quarter more than doubled, while revenue grew 73%. Irving, Texas-based Exxon had held the top spot since 2005. Apple overtook Microsoft, now in the No. 3 slot, in 2010.
Everybody’s talking at the same time: Young people tweeting from BlackBerrys and iPhones are driving the growth of Twitter in Africa, with South Africans by far the most active, according to new research published today. Kenya-based Portland Communications and Tweetminster published findings indicating Twitter in Africa is widely used for social conversation and is fast becoming an important source of information. More than 80% of those polled said they mainly used it for communicating with friends, 68% said they use it to monitor news and 22% to search for jobs, the companies report. The research analyzed more than 11.5 million geographically pinpointed tweets originating on the continent during the last three months of 2011. That was complemented by a survey of 500 of Africa’s most active tweeters. The Associated Press has the full story here.
Today’s poll question: Do you approve of the way the East Baton Rouge Parish School Board has handled the search for a new superintendent?
