Stocks Mixed as Dow Ends Just Below 13000 (AOL, WPO)
Major indices were mixed today, with the Dow ending very slightly down, and the S&P 500 and Nasdaq ending around 0.2 percent up. In corporate news, Starboard Value LP nominated five directors for America Online's (AOL) board. Starboard has a 5.2 percent stake in AOL and is dissatisfied with the direction the company is going. AOL has struggled to regain profitability for many years. The Washington Post Company (WPO) announced that its earnings fell by 22 percent in Q4.
Word on the Street
- The Dow finished just below 13,000 today, basically unchanged from yesterday.
- Events in Greece have bond-holders rethinking their other sovereign debt holdings.
- Oil prices are nearing their 2011 high.
- The Los Angeles Times will be doing a New York Times style paywall.
- An LP with a 5 percent stake in AOL (AOL) nominated five new board directors.
- The Washington Post (WPO) had a difficult Q4.
Published on Feb 24, 2012By InvestorGuide Staff