What follows is a roundup of corporate earnings reports for Thursday, Feb. 3.
Businesses will be able to depreciate 100 percent of the cost of capital goods on their 2011 taxes, for equipment bought and placed in service between September 8, 2010 and December 31, 2011. That's up from 50 percent accelerated depreciation in 2010, and applies to property that is depreciated over 20 years or less.
As pressures mount in the euro zone, rating agencies are in an impossible bind, the FT reports. This year many investors have complained that the agencies have been slow to recognize the scale of problems, downgrading periphery debt too late – but when the agencies have actually acted – most notably with Spain this week – they have been accused by politicians of fermenting a new market crisis.
With markets lower on Monday following a rally last week, which stocks are still undervalued? David Einhorn, president of hedge fund Greenlight Capital, shares some of his picks.