Jobs Hold Steady, Stocks Up (AAPL, HPQ)
Major indices were up around half a percent today, as jobless benefits last week held steady at their relatively low level. Strong German lfo business confidence data sent up the euro today. In corporate news, Apple (AAPL) will cave to investor demands to make the selection of board members stockholder majority-vote based, and also discussed the possibility of issuing dividends for the first time since 1995. Hewlett-Packard's (HPQ) Q1 revenue slipped 7 percent and investors punished them in the markets for it today.
Word on the Street
- Jobless benefits did not change last week, remaining at their lowest level since 2008.
- The euro is up against the dollar on better than expected German business confidence data.
- The U.S. Postal Service is forecasting an annual loss of over $18 billion by 2015.
- Apple (AAPL) granted shareholders more say in picking members of the board of directors.
- Hewlett-Packard (HPQ) shares fell on abysmal earnings.
- Proctor & Gamble (PG) plans to cut 5,700 jobs by the end of 2016.
Published on Feb 23, 2012By InvestorGuide Staff