Stocks closed the day mixed after coming under pressure late in the trading day. Lakeland Industries (LAKE) shares are up over 274% this year due to fears of Ebola spreading across the globe. Lakeland Industries makes hazmat suits that many healthcare workers are using to prevent the spread of Ebola. Alpha Pro Tech (APT), the makers of protective gear, such as face masks that many healthcare workers are also using, is up 245% this year. Ireland announced today that they would be ending the “Double Irish” tax, beginning January 1st for all new applicants, that enables U.S. multinational corporations to shift their non-American profits to avoid tax. Some existing beneficiaries of this are Google (GOOG) and Apple (AAPL); these companies have until the end of 2020 to make other arrangements.
Word on the Street
- What needs to happen to make this rebound stick?
- Lakeland Industries (LAKE) shares up 274% in 2014.
- GoPro’s (GPRO) bubble has officially burst.
- Tesco (TESO) suspends an additional 3 executives.
- Darden’s (DRI) stock up on naming interim CEO.
- Macy’s (M) to start Black Friday shopping even earlier.
- JP Morgan Chase (JPM) swings to third quarter profit.