There were positive earnings on Thursday but were overshadowed by weak data on unemployment claims, home sales, and continuing concern over Spain’s banking troubles. The tech industry remains a source of strength for the US, with IBM (IBM) posting higher than expected quarterly earnings. EBay Inc. (EBAY) also had a positive earnings report. Morgan Stanley’s (MS) shares dropped after their quarterly report and will be planning more staffing cuts. Crude-oil futures rallied on Thursday as many worry about supplies in the Middle East, most likely due to the recent bombing in Bulgaria. Metals’ futures advance and break a three day losing streak, attracting investors back into the market.
Word on the Street
- Walgreen Co. (WAG) and Express Scripts (ESRX) announce a deal to end of a seven-month dispute.
- After their disappointing second-quarter earnings report, Morgan Stanley (MS) plans further staff cuts.
- Global shares climbed on Thursday despite Spain’s continuing financial troubles and weak US economic data.
- Rising concern over stability in the Middle East leads to an eight-week high for oil prices.
- Tech companies like IBM (IBM), Intel (INTC) and EMC Corp. (EMC) are still in the positive even in the troubled economy.
- Suddenlink Communications agrees to a buyout by BC Partners and the CPP Investment Board.
- While QE3 would most likely help the struggling economy, when will we see real growth and progress?
- The housing report for June looks positive, but still has far to go until it is fully recovered.
- Wynn Resorts (WYNN) Misses on Both Top and Bottom Lines on Weak Vegas and Macau Numbers.
- The mobile revolution and how these devices are becoming the center of everything we do.
- 3 questions that make the tough process of interviewing job candidates easier.