Stocks Drag Along as European Economic Data Worsens (CAT, FB)

Concerns over the European debt crisis and specifically weak data from Germany and France led to slightly lower stocks on Monday. Despite recent encouragement from central banks, fears continue as different leaders disagree on how to confront the crisis. The US stocks that led losses were mostly in the technology sector, including Apple, (AAPL) declining 1.5% and Facebook (FB), whose shares dropped 9% after a weekend report that their stock was overpriced. Caterpillar (CAT) reported a disappointing forecast just before the close of the markets.
On a positive note, TiVo (TIVO) saw shares rise after coming to $250.4 million agreement with Verizon (VZ) over their patent-licensing litigation. The US dollar decreased against both the euro and the Japanese yen, and in metals trading gold, silver and copper all inched lower as well.

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Published on Sep 24, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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