Talking Squawk, the official "Squawk Box" blog, provides tidbits, insights, and some sarcastic reflections on the WEEK THAT WAS and the WEEK TO COME.» Read More
There are 38 companies in the S&P 500 index that have not moved more than 2 percent positive or negative year-to-date.
Britain's FTSE 100 lost 0.1 percent to 5,910.04 in early trading. Microsoft said net income fell a worse-than-expected 22 percent to $4.47 billion in the fiscal first quarter, which ended Sept. 30. BB&T bank, Philip Morris International and Boston Scientific also reported results that fell short of forecasts.
Markets in mainland China, Singapore, Thailand, Indonesia and India were down. Microsoft said net income fell a worse-than-expected 22 percent to $4.47 billion in the fiscal first quarter, which ended Sept. 30. Microsoft shares fell in after-hours trading.
European Union leaders opened a two-day meeting in Brussels on Thursday and took a critical step by agreeing to create a banking supervisor to oversee institutions in the 17 countries using the euro. South Korea's Kospi lost 0.9 percent to 1,942.47 and Australia's S&P/ASX 200 fell 0.1 percent to 4,554.50.
NOT FEELING LUCKY: Google inadvertently released a disappointing earnings report early, and its stock plunged. Google ended the day down more than $60 per share, or 8 percent. EARNINGS WATCH: BB&T, Philip Morris International and Boston Scientific all fell after reporting disappointing earnings.
NEW YORK-- Google plummeted almost $80 per share, more than 10 percent, and trading in the stock was halted two and a half hours Thursday after a disappointing earnings report was published ahead of schedule and surprised investors. Google was trading at $754 per share at 12:30 p.m. EDT, then fell almost $20 in a minute after investors saw the report, a draft.
Google plunged 9 percent after it accidentally released a weak earnings report hours ahead of schedule. "This is a market that's waiting for a clear catalyst," said Quincy Krosby, market strategist at Prudential Financial. Google's stock dropped $68.19 to $687.30 before trading was suspended.
WASHINGTON-- Medical device maker Boston Scientific said Thursday it swung to a third-quarter loss, as legal fees and restructuring expenses weighed down already-sluggish sales of the company's implants.
NEW YORK-- The stock market headed slightly lower on Thursday, following a leap in claims for unemployment benefits and weak results from American Express. The increase suggested that layoffs were increasing, however the Labor Department noted that there were technical reasons behind the swing, mainly delayed figures from one large state, California.
Though expectations have diminished in recent days that the 27- nation EU will agree on the terms of a banking union, investors are keen to hear updates on the economic fate of Spain, as well as Greece, which appears to be near to securing its next batch of bailout cash.
Stocks are opening mostly lower, breaking a four-day winning streak for the Dow Jones industrial average, following a leap in claims for unemployment benefits and a mixed batch of corporate earnings reports. The Labor Department reported that applications for unemployment benefits jumped last week to the highest level in four months.
Oct 11- Belo Sun Mining Corp:. *Canaccord Genuity raises Belo Sun Mining Corp price target to C $2.50. Reuters Station users, click. 1568.
**ALCOA INC, Monday close $9.12, up 0.5 pct post-market. **YUM BRANDS, Monday close $66.94,. **CHEVRON CORP, Monday close $117.62.
Oct 8- Boston Scientific Corp said it has agreed to pay $90 million to buy privately held Rhythmia Medical Inc to gain access to its three dimensional navigation system to assist doctors in performing complex heart procedures on patients with dangerously irregular heart rhythms.
NATICK, Mass.-- Boston Scientific Corp. said Monday it will buy Rhythmia Medical, which makes mapping and navigation systems used in heart surgeries, for up to $265 million.
Check out which companies are making headlines after the bell Monday.
Oct 8- Boston Scientific Corp:. *To acquire Rhythmia Medical Inc. *Says once the mapping system is cleared by the U.S. Food and Drug Administration and receives CE Mark approval in Europe, Boston Scientific expects to begin a limited market launch of the system in 2013 and full market launch in 2014..
*Debt financing soars among larger medical device makers By Susan Kelly. CHICAGO, Oct 1- Venture capitalists, long the lifeblood of medical technology firms, are growing cautious on the sector after seeing their returns squeezed in a time of growing cost pressures for healthcare, a report by Ernst& Young said.
*Kevin Lobo succeeds interim CEO Curt Hartman* Hartman to leave company* CEO search had been under way since February* Stock falls 1.5 percent in afternoon trading By Toni Clarke. Oct 1- Medical device maker Stryker Corp on Monday named Kevin Lobo, head of its orthopedics unit, as president and chief executive following an eight-month search.
*Lobo succeeds interim CEO Curt Hartman* Hartman to leave company* CEO search had been underway since February* Stock falls 0.4 pct in midday trading By Toni Clarke. Oct 1- Medical device maker Stryker Corp on Monday named Kevin Lobo, head of its orthopedics unit, as president and chief executive following an eight-month search.