Saturday, January 31, 2009
Energy: Stocks in focus for Monday
Among the companies whose shares are expected to see active trade in
Monday's session are Anadarko Petroleum Corp., Aflac Inc. and Humana
Inc.
Friday, January 30, 2009
Regulators close banks in Utah, Md. and Fla. as failure list grows
Regulators close banks in Utah, Md. and Fla. as failure list grows
1/30/2009 6:45:12 PM EDT
Markets Friday, 01/30/2009
| Dow : 8000.86 down 148.15 | S & P : 825.88 down 19.26 |
| NASDAQ: 1476.42 down 31.42 | Bond (10Y): 2.86%, 107.63
MARKETS:
Worst January ever for Dow, S&P 500
Wall Street slumps Friday at the end of a brutal month.
Once a hot spot, Eastern Europe could face financial crisis
Once a hot spot, Eastern Europe could face financial crisis
Once a booming investment destination, Eastern Europe is now in
serious trouble, and some fear it's poised to re-enact its own version
of Asia's financial crisis.
METALS STOCKS: GOLD ENDS AT SIX-MONTH HIGH ON SAFETY BUYING
Gold futures surge to their highest level in six months as investors
seek the safety of the metal following government data that show the
U.S. economy contracted the most in 27 years during the fourth
quarter.
ECONOMIC REPORT: U.S. FOURTH-QUARTER GDP CONTRACTS 3.8%, BIGGEST SINCE 1982
The U.S. economy contracts at a 3.8% annualized rate in the fourth
quarter, Commerce Department data show. The decline in gross domestic
product would have been worse except that the government counts an
unwanted buildup of goods on
store shelves as growth. The data indicate particular weakness in
consumer spending.
ROCHE GOES HOSTILE ON GENENTECH BID, LOWERING PRICE
In a display of hostility toward a firm it mostly owns, Roche Holdings
on Friday lowers its takeover bid for Genentech and takes the offer
directly to. shareholders.
Dow ends week near 8,000, down 143 points Friday, as economy and bank woes weigh on stocks.
Dow ends week near 8,000, down 143 points Friday, as economy and bank
woes weigh on stocks.
U.S. fourth-quarter GDP down 3.8%, biggest since 1982
U.S. fourth-quarter GDP down 3.8%, biggest since 1982
The U.S. economy contracts at a 3.8% annualized rate in the fourth
quarter, Commerce Department data show. The decline in gross domestic
product would have been worse except that the government counts an
unwanted buildup of goods on
store shelves as growth.
AMAZON SHARES JUMP ON SURPRISE EARNINGS GROWTH
Amazon.com's surprise gain in fourth-quarter earnings gives shares an
early boost on Friday.
ROCHE LOWERS GENENTECH BID, GOES HOSTILE
In a display of hostility toward a firm it mostly owns, Roche Holdings
on Friday lowers its takeover bid for Genentech and takes the offer
directly to
shareholders.
DAVOS NOTEBOOK: LONG LIVE PRIVATE EQUITY
Times are tough in the private equity business, but the industry will
survive, Kohlberg Kravis Roberts founding partner Henry Kravis insists
Friday at the World Economic Forum's annual meeting.
OBAMA CALLS WALL ST. BONUS BINGE SHAMEFUL
President Obama blasts Wall Street for shameful and irresponsible
behavior after reports that Wall Street paid $18.4 billion in bonuses
in 2008, even as the industry collapsed, costing taxpayers billions of
dollars and tens of thousands of job cuts.
Energy: Canadian stocks edge lower after grim GDP data
Stocks in Canada edge lower, with mining and financial shares pacing
the decline, as data show economic growth fell sharply in November.
Gold jumps nearly $20 an ounce to 6-month high after GDP data; crude oil rises 2.2%
Gold jumps nearly $20 an ounce to 6-month high after GDP data; crude
oil rises 2.2%
1/30/2009 10:38:27 AM EDT
Energy: Exxon Mobil, Chevron help lift energy sector after results
Energy-sector stocks recover from losses in the previous session,
playing off Exxon Mobil and Chevron as the bellwethers both report
better-than-expected financial results for the fourth quarter.
Energy: Oil futures rise after better-than-expected GDP data
Oil futures surge Friday after data show that the U.S. economy turned
in its worst performance since 1982, but the contraction is still
better than the market expected.
Energy: Allstate, Exxon Mobil in focus
U.S. stock futures gave up earlier gains and were pointing to a weaker
start for Wall Street on Friday, under the cloud of another heavy
earnings session and key economic data. The U.S. economy contracted at
a 3.8% seasonally adjusted annual rate in the fourth quarter, the
Commerce Department estimated Friday.
Breaking News: GDP down 3.8% in Q4, biggest drop since '82
The economy shrank at its fastest pace in nearly 27 years in the
fourth quarter, government data showed, sinking deeper into recession
as consumers and business cut spending.
Energy: Exxon Mobil profit falls 33% on productions drops, spending
Exxon Mobil Corp. on Friday says fourth-quarter net income fall 33% as
production drops and capital spending rises as it absorbs a body-blow
from a historic plunge in crude prices.
Energy: Mitsubishi, GE considering power-turbine business tie-up
Mitsubishi Heavy Industries and General Electric will work together in
the "next generation" power-plant turbine business.
Honda third-quarter profit falls 90% to $222 million
Honda third-quarter profit falls 90% to $222 million
1/30/2009 1:06:15 AM EDT
Thursday, January 29, 2009
Energy: Stocks in focus for Friday
Among the companies whose shares are expected to see active trade in
Friday's session are Exxon, Procter & Gamble and Chevron.
Markets Thursday, 01/29/2009
| Dow : 8149.01 down 226.44 | S & P : 845.14 down 28.95 |
| NASDAQ: 1507.84 down 50.50 | Bond (10Y): 2.86%, 107.53
MARKETS:
Stocks break winning streak
Recession fears snap a 4-session rally for the S&P 500 and the Nasdaq.
December new-home sales plummet to record low
December new-home sales plummet to record low
Sales of new homes plummet to a record low in December, falling 14.7% to the
lowest level since the government began keeping track of the activity in 1963.
ECONOMIC REPORT: RECORD NUMBERS STANDING IN UNEMPLOYMENT LINES, U.S. DATA SHOW
U.S. unemployment lines stretch to the longest on record, Labor Department data
show, in a vivid sign that the conditions in the labor market continue to
worsen.
REPORTER'S NOTEBOOK: 'GLOOM' IS THE MOOD IN DAVOS, NOT 'DOOM'
Movers and shakers who have gathered in the Swiss Alps for the annual meeting
of the World Economic Forum are downbeat but not despondent, India's commerce
minister tells MarketWatch.
FORD LOSES $6 BILLION BUT WON'T SEEK FED HELP
Ford Motor Co. posts a fourth-quarter loss of $5.9 billion, reeling from a
sales downturn that's engulfed automakers around the world.
SONY PROFIT TUMBLES 95% ON WEAK DEMAND, STRONG YEN
Sony Corp. reports Thursday its third-quarter profit was almost entirely wiped
out and it still expects to post its first full-year loss in 14 years.
The Dow tumbles 227 points on dismal corporate results, housing weakness and further job losses.
The Dow tumbles 227 points on dismal corporate results, housing
weakness and further job losses.
Energy: Dominion fourth-quarter net income rises 16%
Dominion Resources Inc.'s fourth-quarter net income rises 16% as the
power company benefits from lower costs and taxes.
December new-home sales plummet to record low
December new-home sales plummet to record low
Sales of new homes plummet to a record low in December, falling 14.7%
to the lowest level since the government began keeping track of the
activity in 1963.
ECONOMIC REPORT: RECORD NUMBERS STANDING IN UNEMPLOYMENT LINES, U.S. DATA SHOW
U.S. unemployment lines stretch to the longest on record, Labor
Department data show, in a vivid sign that the conditions in the labor
market continue to worsen.
REPORTER'S NOTEBOOK: 'GLOOM' IS THE MOOD IN DAVOS, NOT 'DOOM'
Movers and shakers who have gathered in the Swiss Alps for the annual
meeting of the World Economic Forum are downbeat but not despondent,
India's commerce minister tells MarketWatch.
FORD'S QUARTERLY NET LOSS NEARLY DOUBLES AS REVENUE TOPS TARGET
Ford Motor Co. posts a fourth-quarter loss of $5.9 billion, reeling
from a sales downturn that's engulfed automakers around the world.
SONY PROFIT TUMBLES 95% ON WEAK DEMAND, STRONG YEN
Sony Corp. reports Thursday its third-quarter profit was almost
entirely wiped out and it still expects to post its first full-year
loss in 14 years.
Energy: Smith International falls, ending oil service buying spree
Smith International's earnings miss and bearish sentiment in the
overall energy sector end a buying spree of late in oil service
shares.
U.S. new-home sales fall nearly 15% to lowest monthly level on record
U.S. new-home sales fall nearly 15% to lowest monthly level on record
1/29/2009 10:02:08 AM EDT
Energy: OPEC chief: Ready for more production cuts if needed
OPEC is ready to make further cuts in oil production in coming months
if prices and global demand don't stabilize, the oil cartel's
secretary general says at the World Economic Forum annual meeting on
Thursday.
Breaking News
Auto giant Ford reports a Q4 net loss of $5.9 billion due to 'sharp
global decline in vehicle demand.'
Energy: Occidental Petroleum fourth-quarter net falls 70%
Occidental Petroleum on Thursday said fourth-quarter net income fell
70% as falling prices for crude oil and natural gas combined with
higher exploration costs hit the firm hard.
Number of people filing for first-time unemployment benefits rose last week by 3,000 to 588,000, government reports.
Number of people filing for first-time unemployment benefits rose last
week by 3,000 to 588,000, government reports.
U.S. durable-goods orders decline 2.6%
U.S. durable-goods orders decline 2.6%
1/29/2009 8:31:36 AM EDT
Stocks open lower following dismal reports on the job market and manufacturing industry.
Stocks open lower following dismal reports on the job market and
manufacturing industry.
Energy: Oil futures fall after more grim economic data
Oil futures extended their decline after data showed a record number
of continuing jobless claims as well as a decline in orders for
U.S.-made durable goods.
Energy: Smith International net income climbs 19%
Smith International said earnings rose 19%, as the provider of
engineered products and services to the energy and chemical sectors
grew sales by about one third after buying W-H International
Wednesday, January 28, 2009
House votes along party lines to approve Obama's $819 billion economic stimulus bill. Senate likely to take it up next week.
House votes along party lines to approve Obama's $819 billion economic
stimulus bill. Senate likely to take it up next week.
Markets Wednesday, 01/28/2009
| Dow : 8375.45 up 200.72 | S & P : 874.09 up 28.38
|
| NASDAQ: 1558.34 up 53.44 | Bond (10Y): 2.66%, 109.25
MARKETS:
Stocks stage rally
Wall Street hangs on to gains after the Fed announcement. Rally
continues on optimism that the government is looking to stabilize the
banking system.
S&P 500 extends gains into a fourth day as financials rally
S&P 500 extends gains into a fourth day as financials rally
The rally in financial shares has the S&P 500 poised to extend its
longest winning streak yet this year. But the four-day run, while
positive, doesn't signal much of a break in a range-bound bear market.
THE FED: FED PREPARED TO BUY TREASURIES; SEES SECOND HALF RECOVERY
The Federal Reserve said Wednesday it was prepared to purchase longer
term Treasury securities if needed to improve conditions in private
credit markets.
FED READIES PLAN TO HELP CONSUMERS GET MORE CREDIT-CARD DEBT
The Federal Reserve's getting ready to launch a new program that
should make iteasier for consumers to get credit-card and auto loans
-- though not necessarily at lower interest rates.
GEITHNER SAYS BAILOUT PLAN SOON; BAD BANK REPORTED AMONG OPTIONS
The Obama administration considers setting up a so-called bad bank to
buy illiquid mortgages from troubled financial institutions as its
latest effort torestore confidence in the financial markets.
BOEING POSTS QUARTERLY LOSS; SLASHES VIEW, PLANS 10,000 JOB CUTS
Boeing runs a fourth-quarter loss due mainly to the machinist strike
that ended last fall, the aerospace giant's financial results show.
Management also lowers profit target for 2009 and announces plans to
shed 10,000 jobs, up from 4,500
previously.
Stocks rally on reports of relief for beleaguered financial services companies. Dow rises 198 points, S&P and Nasdaq gain 3%.
Stocks rally on reports of relief for beleaguered financial services
companies. Dow rises 198 points, S&P and Nasdaq gain 3%.
Starbucks reports earnings and revenue that miss estimates. Company also says it will cut 6,000 jobs in '09.
Starbucks reports earnings and revenue that miss estimates. Company
also says it will cut 6,000 jobs in '09.
Oil settles up 58 cents to $42.16 a barrel after briefly spiking higher after Fed announcement.
Oil settles up 58 cents to $42.16 a barrel after briefly spiking
higher after Fed announcement.
Energy: Major provisions of stimulus package
The House is expected to approve an $825 billion economic stimulus
package Wednesday.
Fed holds rates near zero percent, says economy has weakened further in past month and global demand slows.
Fed holds rates near zero percent, says economy has weakened further
in past month and global demand slows.
Sector soars on talk that 'bad bank' notion will take flight
Sector soars on talk that 'bad bank' notion will take flight
Shares of U.S. banks surge on reports that the Obama administration
may adopt a plan to buy bad assets in the financial system and create
a so-called bad bank to hold them.
BAD BANK COULD BE RUN BY FDIC CHAIRWOMAN BAIR
The Obama administration considers setting up a so-called bad bank to
buy illiquid mortgages from troubled financial institutions as its
latest effort to restore confidence in the financial markets.
WELLS FARGO SWINGS TO $2.6 BILLION LOSS ON CREDIT WRITE-DOWNS
Wells Fargo & Co. on Wednesday reports a quarterly loss of about $2.6
billion as the banking giant is hit by credit write-downs and losses
at Wachovia, which it recently acquired.
BOEING SWINGS TO FOURTH-QUARTER LOSS ON MACHINIST STRIKE
Boeing has a fourth-quarter loss due mainly to the machinist strike
that ended last fall, aerospace giant's financial results show.
THE FED: FED THROWS KITCHEN SINK AT RECESSION, ECONOMISTS SAY
As it meets to discuss policy action, the Federal Reserve is trying to
convince the market that it is tough enough to combat this recession,
economists say.
Boeing to cut 10,000 jobs in commercial-plane unit
Boeing to cut 10,000 jobs in commercial-plane unit
1/28/2009 11:05:23 AM EDT
Oil prices fall after government reports bigger-than-expected rise in crude supplies.
Oil prices fall after government reports bigger-than-expected rise in
crude supplies.
Dow industrials up by triple digits; S&P 500 rises 1.9% to pace opening rally
Dow industrials up by triple digits; S&P 500 rises 1.9% to pace opening rally
1/28/2009 9:35:59 AM EDT
Stocks open higher after Wells Fargo reported better-than-expected earnings. Investors awaiting stimulus vote.
Stocks open higher after Wells Fargo reported better-than-expected
earnings. Investors awaiting stimulus vote.
Boeing sees 2009 profit lower than 2008 adjusted earnings, posts quarterly loss
Boeing sees 2009 profit lower than 2008 adjusted earnings, posts quarterly loss
1/28/2009 7:37:55 AM EDT
Energy: Baker Hughes profit up 8%, but sees tough 2009
Baker Hughes on Wednesday joins the parade of oil service and other
energy sector companies in putting the brakes on expectations for
2009, even as the drill bit giant manages to eke out a higher
fourth-quarter profit.
Wells Fargo reports net loss due to Wachovia merger, maintains dividend and says it will not take further TARP funds.
Wells Fargo reports net loss due to Wachovia merger, maintains
dividend and says it will not take further TARP funds.
Energy: Oil futures edge higher ahead of inventory data
Oil futures gained early Wednesday after tumbling 9% in the previous
session, as traders awaited data that's expected to show a rise in
crude supplies in the latest week.
Shares of major banks rally on optimism over U.S. reportedly establishing 'bad bank'
Shares of major banks rally on optimism over U.S. reportedly
establishing 'bad bank'
1/28/2009 8:10:20 AM EDT
Tuesday, January 27, 2009
Energy: Stocks in focus for Wednesday
Among the companies whose shares are expected to see active trade in
Wednesday's session are AT&T, ConocoPhillips and Boeing.
Markets Tuesday, 01/27/2009
| Dow : 8174.73 up 58.70 | S & P : 845.71 up 9.14
|
|NASDAQ: 1504.90 up 15.44 | Bond (10Y): 2.53%, 110.50
MARKETS:
Wall Street on the upswing
Stocks advance for third straight session as investors breathe a sigh
of relief that some earnings have been OK and that Geithner has been
approved.
Yahoo swings to loss as Bartz era begins
Yahoo swings to loss as Bartz era begins
Yahoo Inc. reports it swung to a loss in the fourth quarter, as the
flagging economy helped crimp sales of online advertisements and the
Internet company continued efforts to mount a turnaround under former
Chief Executive Jerry Yang.
MARKET SNAPSHOT: STOCK INVESTORS FIND SOME CHEER IN SPIKE IN HOME SALES
While focused in part on quarterly earnings and a report showing a
drop in consumer confidence, investors also take comfort from the
afterglow of surprisingly positive data on the U.S. housing market
released on Monday.
ECONOMIC REPORT: U.S. HOME VALUES DOWN RECORD 18.2% IN PAST YEAR
Home values in 20 major U.S. cities fell a record 18.2% in the 12
months ending in November, Standard & Poor's reports. See full story.
THE FED: NEW YORK FED TAPS DUDLEY TO REPLACE GEITHNER AS PRESIDENT
The New York Federal Reserve promotes William Dudley, a key architect
of its unconventional monetary policy, to serve as its new president.
DUPONT SWINGS TO $629 MILLION QUARTERLY LOSS, CUTS OUTLOOK
DuPont cut its 2009 outlook as the chemicals giant reports a
fourth-quarter loss, results highlighting declines in construction,
motor-vehicle sales and consumer spending.
Breaking News Tue., January 27, 2009
Treasury Gives $386 Million to 23 Banks, First Awards Under Obama [4:20 p.m. ET]
Yahoo reports profits and sales that beat estimates. Including charges company reports net loss of $303 million.
Yahoo reports profits and sales that beat estimates. Including charges
company reports net loss of $303 million.
Stocks finish with gains as investors cheer moves toward stimulus package. Dow up 55 points, S&P and Nasdaq up more than 1%.
Stocks finish with gains as investors cheer moves toward stimulus
package. Dow up 55 points, S&P and Nasdaq up more than 1%.
Oil settles down $4.15 to $41.58 a barrel as economic reports raise demand concerns.
Oil settles down $4.15 to $41.58 a barrel as economic reports raise
demand concerns.
Energy: Petroleum shares give back gains as Valero weighs
Energy stocks move into the red Tuesday after two straight days of
gains as refining giant Valero's results weighed on the sector and
crude prices fell.
U.S. home values down record 18.2% in past year
U.S. home values down record 18.2% in past year
Home values in 20 major U.S. cities fell a record 18.2% in the 12
months ending in November, Standard & Poor's reports.
FUTURES MOVERS: OIL SLUMPS 5% AS DATA FAN ECONOMIC WORRIES
Oil futures fall below $44 a barrel, pressured by ongoing concerns
over slowing energy demand.
SIEMENS NET DROPS 81% AFTER LAST YEAR'S ASSET SALE
German conglomerate Siemens on Tuesday reports an 81% drop in fiscal.
first-quarter profit after last year's sale of its automotive
electronics arm, but by other measures records a solid quarter behind
strong growth at its energy division.
DUPONT SWINGS TO $629 MILLION QUARTERLY LOSS, CUTS OUTLOOK
DuPont cut its 2009 outlook as the chemicals giant reports a
fourth-quarter loss, results highlighting declines in construction,
motor-vehicle sales and consumer spending.
SENATE CONFIRMS GEITHNER AS TREASURY SECRETARY
Obama's economic team is now complete, even as it moves to grapple
with ways to tackle economic woes on multiple fronts, from a worsening
recession to failing banks to the millions of U.S. homeowners facing
foreclosure.
Stocks turn lower after dismal consumer confidence report. U.S. says unemployment rose in December in all states and D.C.
Stocks turn lower after dismal consumer confidence report. U.S. says
unemployment rose in December in all states and D.C.
Consumer confidence index falls to lowest level since its start in 1967.
Consumer confidence index falls to lowest level since its start in 1967.
November home prices down a record 18.2% for the year, according to a closely watched 20-city index.
November home prices down a record 18.2% for the year, according to a
closely watched 20-city index.
Energy: Oil futures fall as demand concerns weigh
Oil futures fall below $46 a barrel Tuesday, pressured by ongoing
concerns over slowing energy demand.
Stocks open higher as investors continue to look for opportunities for the second session in a row.
Stocks open higher as investors continue to look for opportunities for
the second session in a row.
Energy: FPL Group net nearly doubles on power boost
FPL Group Inc. says Tuesday fourth-quarter net income nearly doubles
as it praises the performance of its FPL Energy solar, wind and
nuclear generating unit.
Monday, January 26, 2009
Energy: Stocks in focus for Tuesday
Among the companies whose shares are expected to see active trade in
Tuesday's session are Yahoo, Verizon, and DuPont.
Breaking News Mon., January 26, 2009
Senate Approves Four-Month Hold on Digital TV Conversion [7:10 PM EST]
Breaking News Mon., January 26, 2009
Senate Confirms Timothy Geithner as Treasury Secretary [6:20 EST PM]
Markets Monday, 01/26/2009
DOW 8,116.03 +38.47 +0.48%
NASDAQ 1,489.46 +12.17 +0.82%
S & P. 836.57 +4.62 +0.56%
10YR. 109 17/32 -6/32 Yield: *2.63%*
5:15 PM ET, 1/26/2009
Stocks bounce
Stocks managed gains Monday, ending a volatile session higher, as
investors looked beyond massive job cuts at Caterpillar, Home Depot
and others, and. opted to scoop up stocks hit in last week's selloff.
Stocks see-saw higher as job cuts spread to more sectors
Stocks see-saw higher as job cuts spread to more sectors
The large wave of layoffs gives added impetus to President Obama's call for quick action on his economic stimulus proposals but has little impact on the market, which is anticipating another 500,000 job losses this month.
AFTER HOURS: AMGEN, VMWARE SHARES HURT AFTER REPORTS DISAPPOINT INVESTORS
Shares of Amgen Inc. struggle after the biotech giant's quarterly results missed Wall Street's outlook, and a weak sales forecast from VMware Inc. weighs on its shares.
PFIZER LINES UP BIGGEST BANK DEAL SINCE MARCH, TAPPING U.S. AID
Pfizer's pact to acquire Wyeth gives taxpayers a glimpse into how banks are using some of the Treasury Department's $200 billion in bank aid.
CATERPILLAR POSTS 32% DECLINE IN QUARTERLY PROFIT, CUTS JOBS
Caterpillar Inc. posts a 32% drop in fourth-quarter profit and announces 20,000 job cuts.
EMERGING MARKETS REPORT: RUSSIAN STOCKS RALLY, LED BY MINERS, ENERGY FIRMS
Stocks in Moscow rally, as surging commodity prices boost energy and mining companies, while Russia's largest bank, Sberbank, reports a rise in third-quarter net profit.
Stocks end higher on positive economic data and the Pfizer-Wyeth deal. Dow up 36 points, Nasdaq and S&P gain, too.
Stocks end higher on positive economic data and the Pfizer-Wyeth deal. Dow up 36 points, Nasdaq and S&P gain, too.
Stocks rebound as financial companies recover. Dow, Nasdaq and S&P all modestly higher.
Stocks rebound as financial companies recover. Dow, Nasdaq and S&P all modestly higher.
Oil settles down 74 cents at $45.73 a barrel.
Oil settles down 74 cents at $45.73 a barrel.
Energy: Russian stocks rally, led by miners, energy firms
Stocks in Moscow rally, as surging commodity prices boost energy and
mining companies, while Russia's largest bank, Sberbank, reports a
rise in third-quarter net profit.
Existing-home sales rise 6.5% as prices plunge
Sales of existing homes rise 6.5% in December to a seasonally
adjusted. annualized rate of 4.74 million as prices continue to plunge
at a record pace, the National Association of Realtors reports.
SPRINT TO ELIMINATE 8,000 JOBS
Sprint Nextel Corp. on Monday says it will purge 8,000 jobs as part of
an effort to reduce costs in the face of a deepening U.S. recession.
PFIZER BUYING WYETH FOR $68 BILLION IN CASH AND STOCK
Pfizer reaches agreement to buy drug-making rival Wyeth for $68
billion with the aim of restocking its producti pipeline, as the
blue-chip component also reports a 90% decline in fourth-quarter net
profit.
CATERPILLAR POSTS 32% DECLINE IN QUARTERLY PROFIT, CUTS JOBS
Caterpillar Inc. posts a 32% drop in fourth-quarter profit and
announces 20,000 job cuts.
HOME DEPOT TO CLOSE EXPO, SLASH JOBS
In another sign of the worsening economic downturn, Home Depot Inc.
says it is throwing in the sponge on its Expo design and décor
business, closing stores and laying off thousands of employees.
Energy: Canadian stocks rise, led by mining sector
Stocks in Toronto rise, as surging gold and copper prices boost the
mining sector, while the Canadian dollar surges against its U.S.
counterpart.
Obama says he'll implement 35mpg standards for automakers; EPA to review California request to toughen greenhouse gas rules.
Obama says he'll implement 35mpg standards for automakers; EPA to
review California request to toughen greenhouse gas rules.
Energy: Energy stocks add to gains; Halliburton jumps
Energy stocks add to gains from the previous session on Monday, with
shares of oil service giant Halliburton providing a lift after its
profit update.
Stocks open mixed as news of Pfizer-Wyeth merger is offset by slew of job cuts.
Stocks open mixed as news of Pfizer-Wyeth merger is offset by slew of job cuts.
Caterpillar lowers 2009 outlook; 20,000 workers targeted for cuts
Caterpillar lowers 2009 outlook; 20,000 workers targeted for cuts
1/26/2009 7:37:10 AM EDT
