Oil Ends Below $90 a Barrel on Euro Zone Volatility
Wall Street was in the red again today with the S&P 500 logging its fifth-straight session of losses in a row. Both the Dow Jones and Nasdaq were down as well as euro zone concerns continue to rise and demonstrators gathered in both Madrid and Athens. Prices of oil and metals dropped on Wednesday with the euro falling to a two-week low against the US dollar. Bond leads are currently in the longest losing streak since May 2011 and have fallen for eight days straight. In corporate news, the CEO of Radioshack (RSH) has announced he will be stepping down immediately and the company's CFO will be the interim leader.Mayer of Yahoo (YHOO) appointed a new CFO, marking the fifth senior executive change since she joined the company two months ago. Shares of Jabil Circuits (JBL) fell 10% today while Research in Motion (RIMM) gained 6% after announcing it added two million subscribers over the last quarter.
Word on the Street
- According to the MBA, US home mortgages have risen while interest rates dropped to record lows.
- CEO of Radioshake (RSH) James Gooch steps down and leaves the struggling company to CFO Lively in the interim.
- US Bancorp (USB) and PNC Financial Services (PNC) customers deal with lingering website problems.
- Oil drops to below $90 a barrel on Wednesday for the first time in almost eight weeks.
- Banco Santander (STD) sets a milestone and completes the world's third-largest market launch this year for $4.13 billion.
- US Treasury yields are in its longest losing streak in sixteen months, having fallen for eight straight sessions.
- Apple (AAPL) supplier Jabil Circuit (JBL) falls the most in more than a year after missing quarter estimates.
- Research in Motion (RIMM) Adds Subscribers, Introduces New OS, Global Marketing Plan.
- A list of twenty-five of the most inspiring businesses in America.
- Jason Goldberg of Fab.com strategizes about how to make his company a $1 billion company.
Published on Sep 26, 2012By InvestorGuide Staff