With no real new information on the negotiations in Europe, major indices were quite mixed today. The Dow inched up close to 13,000, and the S&P 500 came quite close to its 2011 high, but the Nasdaq was down. In corporate news, United Parcel Service (UPS) had its $6.4 billion bid to buy TNT Express rejected, but the talks are ongoing. Meanwhile, Demand Media posted a $6.4 million loss in Q4, and every indication seems to be that Google’s (GOOG) algorithm tweaks from that time period, as Demand is massively dependent on search traffic for their revenue.
Word on the Street
- The Dow and S&P 500 inched up today.
- The Postal Service wants to raise its prices by 11 percent.
- Rising gasoline prices have pushed the CPI up.
- Identity theft is at the top of the IRS’s tax scam list.
- UPS’ (UPS) bid for TNT Express was rejected.
- Google’s (GOOG) algorithm update may have been the cause of Demand Media’s Q4 loss.