Dow climbs back above 13,000
The Dow rose back above 13,000 at the close Tuesday as stocks ended a rocky day by closing just above their opening levels, when buyers returned to the market to scoop up languishing financial and retail stocks.

U.S. Stocks Rise; Led by Energy Shares; Exxon Google Rally
U.S. stocks rose, rebounding from three-month lows, after record oil prices boosted energy companies and Credit Suisse Group said shares of Google Inc. may reach $900 in the coming year.


Oil hits above $99 as dollars sink
Oil soared to record highs on Wednesday, drawing within a hair's breadth of the $100 milestone as the U.S. dollar plumbed new lows and the onset of cold U.S. weather stirred anxiety over winter supplies.

Copper Falls on Fear of Economic Slowdown; Crude Oil, Gold Resume Their Rise
Copper prices slipped to an eight-month low Tuesday on worries about a global economic slowdown. Copper prices slipped to an eight-month low Tuesday on worries about a global economic slowdown.
Gold rallied sharply to move within sight of $800 an ounce as the dollar slid to a record trough vs. the euro and crude oil prices surged toward an all-time high. Crude oil prices also resumed their rise. Light, sweet crude for January delivery surged $3.39 to settle at a record $98.03 a barrel on the New York Mercantile Exchange.

Fed minutes show October rate cut was "close call"
The Federal Reserve was unsure last month whether lower borrowing costs were needed to cushion the U.S. economy from a housing slump and credit woes but decided to cut interest rates as a form of insurance.

Freddie Mac hit by huge losses
Freddie Mac (FRE.N: Quote, Profile, Research), the No. 2 U.S. mortgage finance company, on Tuesday stunned Wall Street with a unexpectedly wide loss and plans to slash its dividend or use other means to raise capital to withstand a continuing downturn in the housing market.

OD Falls into Housing Pit
Chalk Office Depot up as the latest victim of the collapse of the housing market. The second-largest U.S. office supplies chain blamed the housing slowdown for softening consumer spending, which pushed its quarterly profit well below expectations.

Whole Foods Profit Falls due to Wild Oats-related Costs
Whole Foods Market Inc., the largest U.S. natural-foods grocer, said fourth-quarter profit fell because of costs related to its purchase of Wild Oats Markets Inc.
Net income dropped 15 percent to $33.9 million, or 24 cents a share, from $39.8 million, or 28 cents, a year earlier, Whole Foods said today in a statement. Sales rose 35 percent to $1.74 billion, exceeding analysts' estimates of $1.61 billion.

Barnes & Noble shows profit while losses at Borders widens
Barnes & Noble raised its earnings outlook yesterday, after swinging to a third-quarter profit on sales of new releases. Losses widened in the same period at its rival, the Borders Group, which was hurt by charges related to the sale of its subsidiaries in Britain and Ireland.

Exxon signs exploration pacts with Libya
Exxon Mobil Corp. signed a deal to explore for oil and natural gas off the Libyan coast, further cementing ties with the oil-rich North African nation.

Newspaper online ads up
Online advertising spending at U.S. newspapers rose 21 percent in the third quarter but failed to offset a print ad spending decline, according to a study released Tuesday.

Powered by Bizzcrunch

This entry was posted by David Choi, on Wednesday, November 21, 2007. You can leave your response.