6at4 Business Report: Google drops, home sales rise

January 20, 2012 2:24:41 PM PST
Google's stock takes a big dip, home sales continue to climb and local companies donate to help kids get dental treatment.

Home Sales Increase
We had a report out today showing existing home sales rose 5% in December. That's the 3rd straight monthly gain and brings us to the fastest pace of sales since January 2011. These gains are pushing the inventory of homes for sale to the lowest level since 2005.

Credit Card use increasing
Americans are spending and using their plastic cards to do so. American Express, which is the largest credit card issuer, released earnings and they revealed card members charged a record $3,933 each on average on their Amex cards. That's up 8.4% from the year before.

Google stock slumps
It was a tough day for Google. The stock finished down more than 8% -- that's more than $54 -- today after the internet giant's quarterly earnings disappointed investors. Google was hurt by Europe and its expansion in mobile, where advertising is less lucrative than it is for ads on computers.

Airport, Wawa make dental donation
It was all smiles here at Philadelphia International Airport today, as airport officials presented this check to a worthy charity. The airport's CEO was joined by Wawa executives to present Kids Smiles with $1,500. The charity is a group of dentists, hygienists and educators who provide quality dental care to children in need. Wawa provided the money to airport workers following a hoagie-building contest last year.