Briefly

Stock indexes slip further, but bond yields surge

Stocks slipped for the third consecutive day Thursday as media and defense companies skidded. Bond yields climbed to their highest levels since May, which helped banks and hurt stocks that pay big dividends.

Stocks started the day higher and were flat at midday, then gradually slid through the afternoon. Cable and TV companies and publishers sank, and industrial companies like Raytheon and L-3 Communications fell after reporting weak results.

Bond prices fell and yields climbed. That helped banks, since they’ll earn more from lending as interest rates rise. It also sent high-dividend stocks like utilities and real estate companies lower as bonds become more appealing to investors seeking income.

The Dow Jones industrial average fell 29.65 points, or 0.2 percent, to 18,169.68. The Standard & Poor’s 500 index sank 6.39 points, or 0.3 percent, to 2,133.04. The Nasdaq composite lost 34.29 points, or 0.7 percent, to 5,215.97.

Gannett posts Q3 loss despite revenue growth

Gannett Co., which owns USA TODAY and more than 100 local news properties, said Thursday rising operating expenses led to a loss in the third quarter, but digital ad sales and acquisitions pushed revenue higher.

Earnings per share, on an adjusted basis, totaled 6 cents, compared with the 21 cents estimated by analysts polled by S&P Global Market Intelligence.

Gannett reported a third-quarter loss of $24.2 million, compared with a profit of $39.2 million in the same period last year. Total operating expenses were 23 percent higher, attributable to restructuring, acquisition and severance costs, the McLean, Virginia-based company said.

But total revenue jumped 10 percent to $772.3 million as Gannett continues to invest in digital news while print advertising sales decline.

National digital advertising revenue rose 18.5 percent. It would have risen 16.6 percent even without accounting for the recent acquisitions, Gannett said. Total advertising revenue increased 12 percent to $429 million.

Broadband privacy rules OK’d despite industry pushback

Federal regulators have approved new broadband privacy rules that make internet service providers like Comcast and Verizon ask customers’ permission before using or sharing much of their data. The Federal Communications Commission’s measure was scaled back from an earlier proposal, but was still criticized by the advertising, telecommunications and cable industries.

Cable and phone companies want to grow revenue from ad businesses of their own — AT&T has said increasing advertising tailored to customers’ preferences is one of its goals with its $85.4 billion purchase of Time Warner; Verizon has bought AOL and agreed to buy Yahoo in order to build up a digitalad business.

But the new rules could make doing that more difficult. Companies and industry groups say it’s confusing and unfair that the regulations are stricter than the Federal Trade Commission standards that digital-advertising behemoths such as Google and Facebook operate under. The FCC does not regulate such web companies.

Belgium reaches deal on EU-Canada free trade deal

The Belgian government has reached a deal to back the free trade deal between the European Union and Canada on the day the agreement was supposed to be officially signed with Canadian Prime Minister Justin Trudeau.

Belgian Prime Minister Charles Michel was able to announce the agreement after days of negotiations with the region of Wallonia. The region has veto power in Belgium and the broader EU needs unanimity among its 28 member states.