Stocks Marginally Higher as Positive Earnings, Europe News Boost Market (KCG)

US markets ended the day ahead as investors continued their optimism based on recent stronger than expected earnings reports. German Chancellor Merkel also pledged to back the ECB's bond buying plan, which helped to lessen fears over Europe's economic situation. Trading and financial services firm Knight Capital got a $400 million rescue for its trading error in exchange for giving a consortium of investors a 70% stake. The NYSE and SEC were in talks to settle allegations that the exchange violated rules intended to promote fair competition

Word on the Street

  • The founder of Best Buy (BBY), Richard Schulze, has offered to purchase the company for a reported $8.8 billion.
  • Shares of General Electric (GE) hit a 52-week high during trading behind revenue growth and expanding profit margins.
  • The Fed reported that banks have started easing standards on business and consumer loans.
  • Time Warner Inc (TWX) has agreed to buy sports website Bleacher Report.
  • Gold prices advanced as US Dollar slightly weakens against the Euro.
  • Interesting Tidbits

  • American Airlines saved $40,000 in 1987 by eliminating one olive from each salad served in first class.
  • In 2001 the five most valuable brand names, in order, were Coca-Cola, Microsoft, IBM, GE, and Nokia.
  • Published on Aug 6, 2012
    By InvestorGuide Staff

    Copyrighted 2020. Content published with author's permission.

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