Wall Street Hits Monthly Highs; Oracle Reports Higher Profit (ORCL)
Signs of progress in Washington led to a second day of gains in the US markets. The S&P 500 had its best two-day run in a month. Nielsen Holdings NV (NLSN) announced its acquisition of Arbitron Inc. (ARB) worth $1.26 billion and rose 3.1% for the day. After the bell, Oracle Corp. (ORCL) announced second quarter results that beat expectations and saw shares rise around 2.7%. Facebook (FB) released its new policy change for its site Instagram set to take effect on January 16, igniting user revolt throughout the day.Home builder confidence reportedly rose for the eight month in a row to its highest level in over six years. Many analysts await tomorrow's housing starts report for the month of November and expect a decline mostly due to Hurricane Sandy.
Word on the Street
- Shares of major US homebuilders rise on Tuesday after reports of higher confidence.
- Boehner's "Plan B" encounters almost immediate resistance in Washington.
- The S&P's rating agency raises Greece's sovereign credit rating to B-minus from selective default.
- Nielsen (NLSN) buys Arbitron (ARB) for $1.26 billion and partners with Twitter.
- Cerberus Capital Management to sell stake in Freedom Group after school shootings.
- General Motors (GM) to offer generous deals to match rival auto companies.
- Oil ends near $88 a barrel, scoring gains for the third day in a row on fiscal cliff optimism.
- Ten of the best tools and apps to help you organize and save time.
- Spoiler alert: despite reaching a fiscal cliff deal, the economy may still go into recession.
Published on Dec 18, 2012By InvestorGuide Staff