US Stocks See Little Change While Oil Continues to Drop (YHOO, AMD)
PUBLISHED ON: Sep 18, 2012
Stocks were mostly flat on Tuesday as investors were still coming off of last week's stimulus news from the central bank. FedEx (FDX) cut its fiscal forecast and oil prices continued to drop on statements from Saudi Arabia and as the euro declined, reducing oil's investment appeal. Tech stock Advanced Micro Devices Inc. (AMD) was in the red after announcing CFO Thomas Seifert is resigning. After the bell, Microsoft Corp. (MSFT) stated that it would be raising its quarterly dividend 15% to 23 cents a share.Yahoo (YHOO) announced a big deal with Alibaba Group, a Chinese Internet company that it will be acquiring for $7.6 billion. Some good news came from the housing industry which reported the highest housing-market index in more than six years.
Word on the Street
- FedEx Corp. (FDX) lowers its yearly outlook due to the weakening economy and higher shipping costs.
- Yahoo (YHOO) and Chinese Internet company Alibaba Group close their $7.6 billion deal.
- Homebuilder confidence hits a six-year high while home loans are at a sixteen-year low.
- Greece hopes to finalize details of their spending cut package by the end of the week.
- Advanced Micro Devices (AMD) sees shares drop sharply after announcing CFO will be resigning.
- The retail industry remains positive about the upcoming holiday season; Kohl's (KSS) expects more hires.
- Oil falls for a second day and ends below $96 a barrel.
- Waste Connections (WCN) Acquires R360 Environmental for $1.3 Billion.
- CEO of AccuQuote Byron Udell on how to handle mistakes and why they build trust.
- Six tips on how to spice things up when you reach a breaking point with your job.
Posted in ...Daily Market Commentary