Word on the Street

The jobs market came back into focus today after the unemployment rate hit its grimmest milestone yet. The US jobless rate jumped up 0.4 percentage point to 10.2% in October, the highest level since April 1983. The bad news is that the rate will likely stay this high for months to come .

Double-Digit Unemployment… Just How Lagging Is It ?

Video -- Unemployment's Stock Market Impact

First it was a war between Wal-Mart (WMT) and Amazon (AMZN), but now Target (TGT) has jumped into the ring. The three companies are currently in a discount price battle to lure customers in during the holiday season. $10 DVDs is quite appealing to cash-strapped consumers.

The last two quarters have played out much better for American International Group Inc. (AIG). The insurer posted its second straight profit as its core insurance operations continue to stabilize after the company's bailout last year by the government.

Shares of General Electric (GE) climbed higher after two analysts raised their ratings on the largest US conglomerate to “outperform”. The company definitely felt the love on Wall Street following the news of the upgrade.

You Get a Tax Credit! You Get a Tax Credit! Congress has extended homebuyer tax credits to incent more first-time home buyers to take a chance in the distressed market.

Was Extending the Homebuyer Credit a Good Idea?

A Bad Way to Spend Money

Reports surfaced months ago that eBay (EBAY) was looking to unload its Skype business. Details about the deal were released today. The group of investors purchasing the majority stake in the telecommunications service has also agreed to settle a legal squabble with the founder of Skype.

Fannie Mae (FNM) is looking for money in more than one area. The mortgage finance company filed $15.8 billion in claims against bankrupt securities firm Lehman Brothers Holdings Inc. Good luck recouping that money. The company is also planning to tap emergency US capital for a fourth time this year.

Blackstone Group (BX) is still on the road to recovery. The hedge fund and private equity firm posted a narrower third-quarter loss . Fees from selling assets and finding acquisition targets helped the company beat estimates by 10 cents.

 

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