The Week in Business: Profits, Losses, and Everything in Between

Apple nearly nudges Exxon out of the top spot for most valuable company, JC Penney unveils a new logo, and H-E-B tries to buy its .xxx domain name. 
Sat January 28, 2012 2:23 am
Flick | yto

The Texas economy is one of the most robust in the world. Wildly profitable companies and ingenious entrepreneurs call this state home, and what happens here influences businesses around the nation. Here’s a slice of the profits, losses, big deals, and backroom decisions happening across Texas this week. 

By the end of the day, Exxon (barely) kept Apple at bay. On Wednesday Apple briefly reclaimed the top spot on the list of the most valuable companies in the US, passing Irving-based Exxon Mobil for the second time in six months.

By the end of trading, however, the oil giant had nudged its way back, closing with a market cap of $418.1 billion, topping Apple’s $416.4 billion, Forbes reported. The iPhone maker’s boost came on the heels of a report showing the company’s net income has doubled in the last year.

The Bottom Line: Before Apple made its first push to the front of the pack in August, Exxon had held onto the

More Texas Monthly

Loading, please wait...