Markets Plummet as Eurozone Worries are Reignited (HLF, DELL)
After reaching such highs last Friday, the major indices fell hard on Monday and caused what was the greatest single-session drop so far this year. Attention was brought to European markets as debt crisis worries were revived in both Spain and Italy. Spain's Primer Minister Rajoy was called to resign after talks of corruption scandals. The factory report in the US was disappointing today with December numbers that were 3.5% lower than the prior month. In corporate news, Herbalife (HLF) fell by 1.7% after additional reports were released regarding a federal probe.Wal-Mart (WMT) was downgraded by JP Morgan Chase (JPM) from "neutral" to "overweight" and saw shares drop as well. Oracle Corp. (ORCL) announced plans to purchase Acme Packet Inc. (APKT), sending shares of Acme higher. Facebook (FB) turned nine years old today. US crude finally dropped on Monday after rising for eight consecutive weeks to $96.02 per barrel.
Word on the Street
- New factory orders for the month of December jumped up by 1.8%.
- S&P to get hit with charges from the US Justice Department for 2007 mortgage bond ratings.
- Dell (DELL) approaches the final stages of its buyout deal of nearly $24 billion.
- Herbalife (HLF) shares fall after complaints released over allegations from Bill Ackman.
- Despite a 3.5% drop in Q4 earnings, Humana Inc. (HUM) still beats Street expectations.
- Oracle (ORCL) agrees to buy Acme Packet Inc. (APKT) in a $1.98 billion cash deal.
- Life Time Fitness (LTM) Plunges on Bleak Fourth Quarter Warning.
- Seven important lessons learned from seven different CEOs.
- Why those in their 50s and 60s - or boomers - may have been hit hardest in the economic downturn.
Published on Feb 4, 2013By InvestorGuide Staff