Archive for November 26th, 2008
Dow’s winning streak rises to 4
Stocks surged Wednesday, with the Dow industrials and S&P 500 rallying for the fourth session in a row, as investors scooped up stocks hit in the recent selloff, ahead of the Thanksgiving holiday.
Saks attempts to ward off takeover
Luxury retailer Saks Inc. is introducing a “poison pill” into its share structure, which is generally done to avert hostile takeovers.
Auto stocks surge, as bailout hopes grow
Shares of major U.S. auto makers surged Wednesday as investors wait for news on an industry bailout.
1st time ever: 10-year yield is below 3%
Demand for U.S. Treasury bonds surged Wednesday, lowering the yield on the benchmark note to an all-time low, as investors responded to grim economic data and falling mortgage rates.
Fed approves BofA’s Merrill buyout
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Fannie Mae plans reverse stock split
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Bailouts: $7 trillion and rising
The U.S. government is now willing to spend more than $7 trillion to help rescue the economy. That’s about $23,000 for every American, and more than half of U.S. annual gross domestic product.
Tiffany profit beats view, lowers outlook
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Oil jumps after China cuts rates
Oil prices rose Wednesday after a large rate cut from China’s central bank offset concerns about falling demand from a large jump in domestic stockpiles, and a series of negative economic reports.
Deere profit drops 18%, misses expectations
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