Tremendous Tuesday Follows Muddy Monday Despite Looming European Issues (GM, SBUX)
PUBLISHED ON: Jun 12, 2012
US Markets recover from a bitter Monday, despite looming concerns in Europe, to record gains on Tuesday. Global markets acted similarly, as well. In corporate news, General Motors (GM) is negotiating with German labor unions as the car company tries to turn around it's European business, which has been recording losses. Starbucks (SBUX) has released a line of products aimed at helping spur US job growth, as well as creating a positive PR image for the coffee giant.And Amazon (AMZN) has released its cloud player on Apple's (AAPL) iOS after a long wait from consumers.
Word on the Street
- Markets rebound from Monday losses, stocks up across the globe.
- General Motors (GM) begins constructive talks with German labor unions as the car manufacturer continues to lose money in Europe.
- Starbucks (SBUX) introduces new products aimed at boosting US job creation effort.
- ING Bank (ING) forced to pay nearly $620 million as a penalty for dealings with Cuba and Iran.
- New-age game creator Zynga has investors struggling with stock's record lows.
- Amazon's (AMZN) cloud player FINALLY enters the Apple (AAPL) app store.
- Altria (MO) hits an all-time high as the rest of the market suffers.