Emerging Market Growth Picks Up
ThinkstockThe latest reading from the HSBC Emerging Markets Index shows that the index rose from 53 in December to 53.9 in January, the best reading since February 2012 and within shouting distance of the…
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Paul Ausick
SandRidge, CEO in Potential Conflict of Interest — Reuters
ThinkstockSandRidge Energy Inc. (NYSE: SD) and its chief executive, Tom Ward, have been getting crosswise with investors since at least last November. Ward has been a particular target of two SandRidge investors who have…
Crude Inventory Rises Less Than Expected
ThinkstockThe U.S. Energy Information Administration (EIA) released its weekly petroleum status report this morning. U.S. commercial crude inventories increased by 2.6 million barrels last week, bringing the total U.S. commercial crude inventory to 371.7…
Boise Cascade Leaps After IPO
ThinkstockWood products maker Boise Cascade Co. (NYSE: BCC) held its initial public offering (IPO) this morning, selling 11.76 million shares at an IPO price of $21. Yesterday the company raised its IPO price range…
Job Creation Slides in January — Gallup
ThinkstockGallup’s Job Creation Index fell from 17 in December to 16 in January, the lowest level in 11 months. The index for nongovernment jobs fell from 20 in December to 18 in January, the…
Mortgage Putback Ruling Could Slam Banks (FBC, AGO, MBI, JPM, CS, BAC)
Brian Katt / Wikimedia Commons / GNU Free Documentation LicenseA federal judge in Manhattan ruled yesterday that Flagstar Bancorp Inc. (NYSE: FBC) must pay $90.1 million to bond insurer Assured Guaranty Ltd. (NYSE: AGO)…
CVS On Track for New Annual High
ThinkstockCVS Caremark Corp. (NYSE: CVS) reported fourth-quarter and full-year 2012 earnings this morning. For the quarter, the pharmacy benefits management and retail sales firm posted adjusted diluted earnings per share (EPS) of $1.14 on…
Time Warner Boosts Dividend After Mixed Results
courtesy of Time WarnerTime Warner Inc. (NYSE: TWX) reported fourth-quarter and full-year 2012 results before markets opened this morning. The entertainment giant posted quarterly adjusted earnings per share (EPS) of $1.17 and $8.16 billion…
Mortgage Applications Increased Last Week
ThinkstockThe Mortgage Bankers Association (MBA) released its weekly report on mortgage applications this morning, noting a rise of 3.4% in the group’s seasonally adjusted composite index, following a drop of 8.1% for the previous…
Seasonal Hires to Top 80,000 at Home Depot (HD, LOW)
Wikimedia CommonsThe country’s largest home improvement store, The Home Depot Inc. (NYSE: HD), announced this morning that it has begun hiring the first of more than 80,000 seasonal employees to staff its 2,256 stores…
Zynga Plasters Revenue Estimate, Shares Climb
courtesy of ZyngaZynga Inc. (NASDAQ: ZNGA) closed up 7% ahead of earnings today, following a rating change to Buy from analysts at BofA/Merrill Lynch. Now we have the earnings, and the fourth quarter’s results…
24/7 Wall St. Closing Bell — February 5, 2013: Markets Recover from Yesterday’s Slump (CLWR, M, SWC, DRI, UNH, CYOU, GCI, HUM, GOLD, RCL, SPG, CLX, APC, BIDU, EW, YUM, AGCO, AGN, ACI, ADM, ARMH, BP, ETN, EL, SIRI, K, CMG, EXPE, GNW, TTWO, DIS, ZNGA, CVS, MRO, NUS, RL, SYT, TWX, DELL, OPXA, MHP)
U.S. equity markets opened higher this morning and maintained their upward momentum for essentially the whole day. Lacking any really bad news from Asia or Europe, U.S. markets shrugged off a weaker than expected…
Federal Deficit to Fall Below $1 Trillion: CBO
ThinkstockThe Congressional Budget Office (CBO) today released its budget and economic outlook through 2023, saying that the federal deficit for fiscal year 2013 (ending in September) will shrink to $845 billion, the smallest deficit…
Solar Parts Maker Satcon to Liquidate
ThinkstockSatcon Technology Corp., maker of a critical solar panel component called an inverter, filed for bankruptcy protection last October, but the company couldn’t find a buyer and has announced today that it will liquidate…
Lower Platinum Supply, Higher Prices in Store
ThinkstockThe price of platinum is expected to average about $1,770 an ounce in 2013, its highest price since 2011. The price spike is due almost entirely to the closure of several mines in South…
Coal Miners Follow Arch Down the Shaft (ACI, BTU, CNX, ANR, JRCC, WLT, CLD)
ThinkstockShares of Arch Coal Inc. (NYSE: ACI) have lost more than 9% this morning, following the company’s fourth-quarter earnings report. The coal mining firm reported an adjusted earnings per share (EPS) loss of $0.42,…
Boise Cascade Raises IPO Price
ThinkstockIn a filing today with the Securities and Exchange Commission, Boise Cascade LLC has amended the terms of its initial public offering (IPO), which is scheduled to go off tomorrow. The company will offer…
Home Price Increases Continue in December — CoreLogic
ThinkstockHome prices rose 8.3% in December, compared with the same month a year ago, according to research firm CoreLogic Inc. (NYSE: CLGX). That was the largest monthly increase since May 2006. The firm had…
Economic Confidence at Five-Year High — Gallup
ThinkstockIn the month of January, U.S. economic confidence matched its five-year high set back in November of last year, according to the latest data from Gallup. The Gallup economic confidence index rose to a…
ADM Overcomes Low Ethanol Demand and U.S. Drought
thinkstockArcher Daniels Midland Co. (NYSE: ADM) reported second-quarter fiscal 2013 earnings this morning. The agribusiness giant posted adjusted diluted earnings per share (EPS) of $0.60 on revenues of $24.92 billion. In the same period…