The NHTSA is investigating whether Graco Children Products waited too long to report a safety defect that it said affected nearly 4 million car seats.» Read More
Stocks will likely rock and roll again Thursday. Wednesday's market was particularly volatile, although for a good part of the day it was unusually calm as investors waited for the Fed's rate decision. In the final half hour, the Dow wiped out a big gain to end 74 points lower. The Dow was up 298 at its peak, and down 174 at its low point.
Some veteran investors say that the sell-off has gone much too far and stocks are poised to rally powerfully if the downturn is less severe than investors fear.
The pitter-patter of little feet and the high-pitched cries of infants may seem louder lately, but it's music to the ears of many companies that cater to infants and children.
Consumer products maker Newell Rubbermaid said on Tuesday that it would exit some product lines and raise prices to offset rapidly rising resin costs and protect profit margins.
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Dutch office supplies firm Corporate Express said Tuesday it was not in talks to be bought by U.S. rival Staples, denying a newspaper report and halving a sharp rise in its shares.
A late-day selloff pushed the major stock averages down 10% from their highs, meaning the market is now officially in a correction.
Newell Rubbermaid cut its fourth-quarter and full-year sales forecasts Monday, citing softer demand for office products and subsequent inventory reductions at key retailers.
Stocks closed moderately lower as traders remained cautious ahead of the most anticipated Federal Reserve meeting in years. "It's been sort of a nervous Monday," said Bob Nunn, chief operating officer at Cohen Specialists. "The market wants to see a 50 basis-point cut and comments that we could see cuts in the future. I suspect we're setting ourselves up for a bit of a disappointment."
Newell Rubbermaid raised its full-year and current-quarter earnings guidance Monday, after it resolved some tax matters that resulted in a benefit of about $39 million, or 14 cents a share in the current quarter.