US Home Prices and Consumer Confidence Improve, UBS Plans to Sue Nasdaq (PFE, FB)
There was not much movement in the stocks on Tuesday as most investors await policy decision from the Fed at the end of the week. The major US indices finished slightly lower on the day, although both home prices and consumer confidence showed improvements in their recent reports. Shares of Facebook (FB) continue to hit record lows and British oil company BP (BP) reported a lower than expected loss. Pfizer (PFE) announced better-than expected second-quarter earnings and Apple (AAPL) saw gains after word that the company maybe considering a stock split.The US dollar ended lower against both the euro and Japanese yen today.
Word on the Street
- Rare good news from housing prices and consumer confidence shows resilience in the home market.
- UBS (UBS) claims to have lost $356 million on Facebook's (FB) IPO due to Nasdaq's trading glitches and plans to sue.
- BP (BP) reports a disappointingly large loss for the last quarter at $1.4 billion.
- Unemployment rates remain at record highs for the euro zone, underlining the current debt crisis.
- Microsoft (MSFT) reveals Outlook as a social-friendly relaunch of Hotmail.
- JetBlue (JBLU) adds benefits for frequent fliers including baggage allowances, early boarding, bonus points and more.
- Federal spending cuts scheduled for the beginning of next year may trigger tens of thousands of employee layoffs.
- Expedia (EXPE) Soars 20% on Strong Top and Bottom Line Growth.
Published on Jul 31, 2012By InvestorGuide Staff