Stocks Up on Lower Jobless Claims (SNE, FDX)
Major indices were up today on news that jobless claims were down by 1,000 for the week, and on signs of progress in Europe. In corporate news, Sony (SNE) posted $5.6 billion in losses for their fiscal year, and a 10 percent drop in sales. FedEx (FDX) will be acquiring TATEX, a privately held French company that performs a similar service.
Word on the Street
- Major indices were mostly up today.
- Jobless claims fell this week.
- Mortgage rates hit a new low.
- Federal Reserve Chairman Ben Bernanke made a statement that US banks are looking stronger.
- Sony (SNE) posted a multibillion dollar loss for its fiscal year.
- FedEx (FDX) announced it would be acquiring a French express transportation company.
Published on May 10, 2012By InvestorGuide Staff