Stocks advanced Friday as Disney's earnings beat and JCPenney's outlook helped offset worries about a drop in consumer sentiment. For the week, the Dow gained 2.5 percent, finishing at its highest level since Oct. 2008.
Friday, 13 Nov 2009 | Posted By:
Scott Cohn | Source: cnbc.com
Insurance giant Marsh and McLennan, rocked by a bid-rigging scandal five years ago, will pay $435 million to settle two class action suits in the case.
Stocks clawed higher Friday as solid earnings from Disney and JCPenney helped offset worries about a drop in consumer sentiment. It was a wobbly morning but by midday, the Dow was up more than 100 points, or 1 percent.
Stocks wobbled Friday as investors juggled a drop in consumer confidence against solid earnings from Disney and JCPenney. They started the day higher, then retreated, then made another push higher.
Discount retailer Dollar General Corp priced shares in its initial public offering at $21 each, at the low end of expectations, in the latest effort by a private equity firm to unload a portfolio company in a market that has become unreceptive to such deals.
Thursday's losses notwithstanding, Wall Street's major averages enter the Friday session with a chance to finish off their second consecutive week of gains.
Stocks struggled Thursday as investors juggled a weak holiday outlook from Wal-Mart and a drop in jobless claims. Techs clawed higher, with huge gains in JDS Uniphase and AMD.
Two of Walt Disney top executives, Chief Financial Officer Tom Staggs and parks chairman Jay Rasulo, will swap jobs at the end of 2009 to give each other new challenges, Disney Chief Executive Bob Iger said on Thursday.
Stocks struggled Thursday as investors juggled a weak holiday outlook from Wal-Mart and a drop in jobless claims. Techs clawed higher, with huge gains in JDS Uniphase and AMD.
Europe's largest entertainment group Vivendi delivered a better than expected 5.1 percent rise in its third-quarter underlying profit on Thursday, and said it was sticking to its 2009 forecast.
Activision Blizzard said it sold 4.7 million copies of "Call of Duty: Modern Warfare 2", or $310 million of sales, on its first day, setting a new record for the video game industry.
Stocks wobbled Thursday as investors juggled a weak holiday outlook from Wal-Mart and a drop in jobless claims. Techs clawed higher after some big news out of the sector.
Department store operator Kohl's Corp reported a larger-than-expected quarterly profit Thursday, but gave an outlook below Wall Street estimates for the period that includes the key holiday season.
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