Stocks end the day much lower as Alibaba’s (BABA) shares fell 4.3% during its second day of trading. RadioShack’s (RSH) shares rose nearly 5% today after reports were released that the company’s executives are in talks with a major vendor to modify a “commercial relationship” in hopes of avoiding bankruptcy. In recent years, RadioShack has been struggling to stay afloat as the company had only $30.5 million in cash at the end of Q2. It seems like the unemployment issue in the United States is never ending. While more jobs continue to be added, it seems like the long-term unemployment problem has yet to be resolved; nearly 1 in every 5 Americans laid off in the past 5 years is still unemployed.
Word on the Street
- Defense stocks on the rise as ISIS crisis escalates.
- Alibaba (BABA) falls 4% on day 2.
- Over 20% of unemployed workers can’t find a job.
- 21 deaths tied to GM’s (GM) faulty ignition switch.
- Apple (AAPL) sold 10 million iPhone 6′s over the weekend.
- Is student loan debt hurting the housing market?
- Sigma-Aldrich (SIAL) to be taken over by Merck KGaA.