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Business briefs: Buchanan to hold small business seminar for veterans

Buchanan holds small business seminar

SARASOTA -- Rep. Vern Buchanan will host a seminar for veterans on Monday on small business programs.

The presentation through the Small Business Administration will be on certification for federal government contracting and small business programs for veterans.

The event will be held at 10 a.m. Monday at State College of Florida Lakewood Ranch Campus Auditorium, 7131 Professional Parkway E., Sarasota.

Wall Street likes Twitter CEO's departure

Twitter Inc. stock is rising as Wall Street welcomes the departure of its embattled chief executive.

On Friday morning, shares shot up more than 3 percent before falling back to $36.26, a 1 percent increase, following news that CEO Dick Costolo was stepping down.

Twitter shares had fallen more than 25 percent in the last three months as Costolo struggled to boost growth and profits and deal with management dysfunction.

Despite the shortcomings of the company's strategy, the company's incoming interim CEO Jack Dorsey said he would not be changing its direction, describing the "fundamentals" the company is building right now as "extremely strong and beautiful."

When asked whether a potential takeover of the company was on the table, both Dorsey and Costolo told CNBC they believe they can "maximize value" best as an independent company, but they didn't rule out a takeover entirely, saying they were going to fulfill their fiduciary duty to shareholders. Costolo declined to comment further on takeover speculation.

U.S. equities decline as Greek debt talks slow

NEW YORK -- U.S. stocks fell Friday, with the Standard & Poor's 500 index little changed for the week, amid growing concern Greece won't reach a debt deal with its creditors in time to avoid default.

Energy shares retreated 1.2 percent as oil declined for a second day. Cisco Systems and Intel lost at least 1.1 percent to pace a slide among technology companies. Eli Lilly dropped 2.8 percent to lead health-care companies lower. Airlines climbed amid the decline in crude. Citrix Systems extended its rally to a third day.

The S&P 500 index lost 0.7 percent to 2,094.11, with the gauge up less than 0.1 percent for the week. The Dow Jones industrial average fell 140.53 points, or 0.8 percent, to 17,898.84. The Nasdaq composite index slid 0.6 percent. About 5.1 billion shares changed hands on U.S. exchanges Friday, 19 percent below the three-month average and the second-lowest this year.

-- Herald staff and wire reports

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