Stocks Close in Red Again as Euro Zone Woes Continue (GOOG, GM)

Stocks end their third consecutive day in the red as European debt woes continue to persist in investors minds. Debt issues in the euro zone outweighed the positive news the Obama administration will work cooperatively with the Republicans on the current tax dispute, as many tax advantages set forth by President Bush set to expire at the end of December. In corporate news, the European Union is investigating Google (GOOG) for allegedly suppressing competitors in their search results, as rumors the tech giant is on the verge of acquiring Groupon for upwards of $6 billion dollars. The deal would be the largest acquisition by Google.

Word on the Street

• Wall Street and Europe decline for the third day in a row as the European debt load continues to worry investors.
• President Obama’s debt commission has decided to delay their final vote until Friday as the committee attempts to work out differences.
• The European Union began an antitrust probe against Google (GOOG) alleging the search giant may have suppressed competitors in their search results.
• More Google news: the company is rumored to be on the verge of a deal to purchase Groupon for $6 billion.
• Comcast (CMCSA) and Level 3, who agreed to host and deliver Netflix’s (NFLX) online streaming products, are in a spat over bandwidth usage.
• General Motors (GM) released the Chevy Volt and hires 1000 engineers to expand their footprint into electrical cars.
• WikiLeaks is still under denial-of-service (DoS) attacks after the company released confidential US government files.
• Green Mountain Coffee Roasters (GMCR) enjoyed a strong surge last week – how long can this coffee maker continue to burn it’s competitors?

Interesting Tidbits

• Have the guys to start your own business? Positive you will succeed? First read these 10 arrogance traps that may doom your company.
• Check out these places where the people who have managed to weather the recession are getting richer.
• Too much holiday shopping have your credit budget at a whack? Here’s a few reasons why consolidating your credit card debt will benefit you.

VN:F [1.9.17_1161]