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Greek Debt Agreement Sends Stocks Slightly Up (PEP, GRPN)

By: , dated February 9th, 2012
Major indices saw a bump today as Greek officials finally agreed to the terms of the austerity requirements for the debt bailout that was negotiated earlier by European authorities. New jobless claims also fell to 358,000, according to the Labor Department; a decrease of 4 percent. In corporate news, PepsiCo (PEP) forecast lower earnings for 2012 than analysts had been expecting, and announced a plan to cut 8,700 jobs. Markets reacted with the stock value falling almost 4 percent by the end of day. Meanwhile, Groupon’s (GRPN) first earnings call went poorly, as they continue to take net losses in spite of greater than expected revenue.

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