Making headlines on Thursday was the most recent jobless claims report, showing a drop that caused numbers to hit a four-year low. Also in the US it was reported that foreclosure activity dropped 16% in the year-over-year comparison in September. In general there was little change in stocks despite these positive reports, with Apple (AAPL) among others falling and evening out any gains. Advanced Micro Devices (AMD) cut its outlook for its third quarter, sending shares down 6%. In merger news, Softbank may be moving to acquire 70% of Sprint Nextel (S) in a deal well over $12 billion and Boeing (BA) secured their deal with Alaska Air (ALK) for a new aircraft order. Oil futures passed $92 and the dollar slid slightly against the euro after Spain’s debt rating was downgraded.
Word on the Street
- US stocks gain after job data, claims fall to a four-year low.
- Softbank Corp. in advanced talks with Sprint Nextel (S) for a deal that may exceed $12.8 billion.
- IPO market sees four big gains on Thursday including Shutterstock (SSTK) which jumped 32%.
- Boeing (BA) winds order with Alaska Air (ALK) for $5 billion worth of new aircraft.
- The euro rises for the first time in four days against the US dollar.
- AMD (AMD) cuts its third-quarter forecast and sees shares drop 6%.
- The Google (GOOG) and Apple (AAPL) competition continues to heat up.
- Nokia (NOK) Makes a Final Push with its Windos 8 Lumia Series.
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