Thursday, November 29, 2007
U.S. stocks rise for third day; Dow up 22
U.S. stocks rise for third day; Dow up 22
NEW YORK
U.S. stocks rose for a third day on Thursday, ending mildly higher after
the stock market's biggest two-day jump up in five years, as mostly
bearish economic news competed with thoughts of another interest-rate
cut ahead.
Sears Holdings profit tumbles on declining sales
NEW YORK
Sears Holdings Corp.'s quarterly profit tumbled 99% after declining
sales at both its Kmart and Sears chains led to steep discounts, and the
company said Thursday it doesn't anticipate any significant near-term
improvement. Shares dropped to a 2 1/2-year low.
CEO leaves as E-Trade gets $2.55 billion from Citadel
NEW YORK
The subprime crisis claimed a new scalp Thursday as E-Trade Chief
Executive Mitch Caplan said he was stepping down as part of a deal that
has private equity firm Citadel injecting $2.55 billion into the
troubled firm.
Economic Report: U.S. home builders slash prices to boost sales in
October
WASHINGTON
Builders slashed prices at the fastest pace in 26 years in October,
boosting sales of new homes from a much lower level of September sales
than was originally reported, according to Commerce Department data
released Thursday.
Futures Movers: Oil pares gains after some U.S.-Canadian pipelines
reopened
SAN FRANCISCO
Crude futures pared most of their earlier gains Thursday and closed up
slightly, after three of the four U.S.-Canadian pipelines shut down due
to an explosion were restarted.
