Wednesday, November 23, 2011

DailyMarkets.com - AES Clears Last Hurdle For Merger

DailyMarkets.com - AES Clears Last Hurdle For Merger

AES Clears Last Hurdle For Merger

Posted: 23 Nov 2011 11:50 AM PST

The AES Corporation (NYSE:AES) announced that it has received approval from the Public Utilities Commission of Ohio (PUCO) for its acquisition of DPL Inc. (NYSE:DPL). The transaction is expected to close as early as November 28, 2011.
Earlier, in April 2011, the companies announced that AES will acquire DPL in a transaction valued at $4.7 billion. The companies filed their merger application with the PUCO on May 18, 2011.
AES will acquire all of the outstanding shares of DPL for approximately $3.5 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: Market Bounces

Posted: 23 Nov 2011 11:40 AM PST

Cusick’s Corner
The bid did show up this morning, holding 1180 on the S&Ps, and has picked up as headlines out of the EU start to make the bears a little nervous. Either way this is a battered market and technically getting to an oversold level, so not surprised that there was a bounce with the headlines. I will be watching the 1200 level on the S&Ps, if reached would reclaim about 50% of the latest two-day pullback, potentially acting as a pivot area for the bulls. See you After … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: Bears Slept In Late

Posted: 23 Nov 2011 11:40 AM PST

Cusick’s Corner
The bears came in and challenged late in the day, pushing the S&Ps right to support at the 1180 mark. There are a few sectors that I monitor to get a sense of the stocks that are starting to potentially gain the upper hand in a choppy trend, i.e. the S&Ps in a choppy range of 1180-1200. A pair that I like to watch is Consumer Discretionary, XLY, and Consumer Staples, XLP. When we see Consumer Discretionary underperforming the Staples (which of late it has), this is a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Hot Option Plays: Buyers Wanted

Posted: 23 Nov 2011 11:40 AM PST

Cusick’s Corner
The “Buyers Wanted” sign is out on Wall Street today. While the actions of our politicians (or lack thereof) along with the uncertainty in the EU are enough for me to lose my appetite this Thanksgiving (just kidding Honey — get that oven fired up!), there is no buying demand but this does not mean that there is a really strong offer either. It just means that we might be working off the “oversold-ness” (I think this is a new word) with this choppy action, 1160-1180 on the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURCHF Moves Toward 200 Day MA At 1.2241 And Finds Early Buyers

Posted: 23 Nov 2011 11:39 AM PST

As the EURUSD moved lower today, so has the EURCHF. The pair has reached a low at the 1.2258 level. The 200 day moving average is at the 1.2241 level.  The 50% of the move up from the low – post intervention – comes in at the 1.22459 level.  Currently, the price is finding buyers against the level. However, a break below these levels should increase selling pressure in the pair.
The price is currently back higher, trading at the 1.2271 level. Stay below the 1.2282-90 and the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Earning Scorecard: DIRECTV

Posted: 23 Nov 2011 11:35 AM PST

DIRECTV (NASDAQ:DTV), the largest satellite TV operator of the U.S., reported excellent third quarter 2011 financial results, where both earnings per share (EPS) and total revenue beat the Zacks Consensus Estimates. The solid result was attributable to double-digit revenue growth, significant margin expansion and record net customer additions.
Management's aggressive promotional plan of offering popular NFL SUNDAY TICKET coupled with upgrading customers with premium plans worked wonders for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

FDA Approves BSX Promus Element

Posted: 23 Nov 2011 11:35 AM PST

In a major breakthrough, Boston Scientific (NYSE:BSX) received approval from the US Food and Drug Administration (FDA) for Promus Element stent, the company's next generation drug-eluting stent (DES) technology. The company plans to launch the product in the US shortly. This approval comes well ahead of the company's original expectation of a US launch in mid-2012.
The approval grants Boston Scientific the green signal to switch to the high margin, internally manufactured Promus Element stent … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mogavero: “Europe Is The Wild Card”

Posted: 23 Nov 2011 11:30 AM PST

11/23/11 Mogavero, Lee & Co.’s Doreen Mogavero dissects the latest EU woes and mixed economic data. Prospects for a Santa Claus rally are discussed ahead of the first trading week of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mediocre 4Q For H-P

Posted: 23 Nov 2011 11:20 AM PST

Hewlett-Packard Company (NYSE:HPQ) reported fourth quarter 2011 earnings per share (EPS) of $1.17, above the Zacks Consensus Estimate of $1.13. In the after market trade, the company's share price fell 2.27% due to lackluster revenue and weak sequential outlook.
Revenues
Revenues declined 3.6% year over year to $32.1 billion. The company reported revenue growth across its Services and Software business segments, which was offset by declines in the Personal Systems Group (PSG), Networking and … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

School Specialty’s Profit Drops

Posted: 23 Nov 2011 11:05 AM PST

Amid sluggish economic environment School Specialty Inc. (NASDAQ:SCHS) posted soft second-quarter 2012 results citing lower-than-expected sales trends in the education industry with school construction and modernization projects being either cancelled or postponed. These compelled management to trim its outlook for fiscal 2012.  
The company delivered earnings of 47 cents a share, down 51% from 96 cents earned in the prior-year quarter.
Revenue Falls, Margins under Pressure
Greenville, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Windstream-PAETEC Pact Gets FCC Nod

Posted: 23 Nov 2011 10:50 AM PST

Windstream Corporation (NYSE:WIN), a fixed-line voice and DSL Internet service provider has won the approval of Federal Communications Commission (FCC) for the acquisition of PAETEC Holding Corp. (NASDAQ:PAET). The company also stated that it has received all the required regulatory approvals and expects this deal to close by December1, 2011.
In August, Windstream entered into the $2.3 billion transaction to buy out PAETEC. The company filed for FCC approval in the same month. Under the deal, PAETEC … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – USD/JPY Up During The U.S. Session

Posted: 23 Nov 2011 10:45 AM PST

Forexpros – The U.S. Dollar was higher against the Japanese Yen on Wednesday after the release of U.S. data on Initial Jobless Claims.

USD/JPY was trading at 77.37, up 0.52% at time of writing.

The pair was likely to find support at 76.58, Friday's low, and resistance at 77.58, today's high.

Earlier in the day, official data showed that U.S. Initial Jobless Claims rose more-than-expected to a seasonally adjusted 393K last week from 391K in the preceding week whose figure was revised up … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Digital Realty Leases In Australia

Posted: 23 Nov 2011 10:30 AM PST

Digital Realty Trust Inc. (NYSE:DLR), a niche real estate investment trust (REIT), has recently signed a long-term lease agreement with National Australia Bank for a 5,000 square meter data center facility housed in the first of two buildings at its newly acquired development site in Melbourne, Australia. The data center facility, scheduled for completion in early 2013, would be one of the two Digital Realty Tier 3 certified data centers in the offing in Australia, the other being developed at … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

National Oilwell Varco Ups Payout

Posted: 23 Nov 2011 10:20 AM PST

Oilfield services company National Oilwell Varco (NOV) raised its quarterly cash dividend to 12 cents per share (48 cents per share annualized), representing an increase of approximately 9% over the previous payout. The new dividend is payable on December 16, to shareholders of record as of December 2, 2011.
National Oilwell Varco, which recently reported better-than-expected third-quarter results, has bolstered its long-term earnings and cash flow visibility on the back of the company's … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Bon-Ton Disappoints, Trims Outlook

Posted: 23 Nov 2011 10:05 AM PST

Bon-Ton Stores Inc. (NASDAQ:BONT) reported a loss of $1.21 per share in the third quarter of 2011, much wider than the Zacks Consensus Estimate of break-even results and the year-ago quarter loss of 36 cents. The lower-than-expected results were due to sluggish traffic, resulting in a 5.9% drop in the same-store sales.
Total revenue of the departmental store chain plummeted 6.3% year over year to $656.1 million in the reported quarter, attributable to poor sales of traditional merchandise apparel or … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

European Markets Close Lower; Dax Down 1.44%

Posted: 23 Nov 2011 10:05 AM PST

Forexpros – European stocks were down after the closing bell on Wednesday.

At the close of European trade, Germany's DAX fell 1.44%, London's FTSE 100 shed 1.29%, France's CAC 40 declined 1.68% and the EURO STOXX 50 was down 1.87%.

Earlier in the day, official data showed that U.S. Initial Jobless Claims rose more-than-expected to a seasonally adjusted 393K last week from 391K in the preceding week whose figure was revised up from 388K.

Analysts had expected Initial Jobless Claims to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

FDIC List Shrinks, Earnings Soar

Posted: 23 Nov 2011 09:55 AM PST

The number of banks on the Federal Deposit Insurance Corporation's (FDIC) list of problem institutions saw a sharp decline for the second straight quarter to 844 in the July-September period from 865 in the preceding sequential period, federal regulators reported Tuesday. This represents the second quarterly drop since 2006.
Things looked a lot brighter in the third quarter given the drop in the problem list accompanied by the highest level of overall profit earned by FDIC insured banks in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Affymetrix Retained At Neutral

Posted: 23 Nov 2011 09:50 AM PST

We reaffirm our Neutral rating on genetic products maker Affymetrix (NASDAQ:AFFX) following its lackluster third-quarter fiscal 2011 results. Its loss per share for the quarter was higher than the Zacks Consensus Estimate.
Sales declined at a double-digit bracket, hit by lower product revenues and an uncertain academic funding environment, and also missed the Zacks Consensus Estimate. The California-based company witnessed declines in consumable and instrument sales in the quarter, resulting in a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Dell To Overshadow H-P Servers

Posted: 23 Nov 2011 09:40 AM PST

Tech major Dell Inc. (NASDAQ:DELL) is looking to grow its share of the server market, something that could hurt Hewlett-Packard Co. (NYSE:HPQ) in the longer term. Dell missed its chance of becoming the leading PC shipment vendor after H-P's PC segment spin-off was called off by current CEO Meg Whitman.
The two companies saw their fortunes reverse in the last quarter, as Dell's server business did much better than H-P's. H-P has seen a few hurdles in the last few quarters. Even the recently … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

TiVo’s Loss Continues To Widen

Posted: 23 Nov 2011 09:30 AM PST

TiVo Inc. (NASDAQ:TIVO), a developer of advanced television services including digital video recorders (DVR), reported loss per share of 21 cents in the third quarter of 2012, narrower than the Zacks Consensus Estimate of a loss of 23 cents. However, the reported loss widened from the year-ago quarter's loss of 18 cents per share.
Revenue
Revenues increased 27.3% year over year to $64.8 million in the third quarter and surpassed the Zacks Consensus Estimate of $60.0 million. Revenues for the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Raven Matches Zacks Estimates

Posted: 23 Nov 2011 09:30 AM PST

Raven Industries Inc. (NASDAQ:RAVN) delivered earnings of 63 cents per share in its fiscal third quarter 2012 ended July 31, 2011, at par with the Zacks Consensus Estimate but declining 3% from the 65 cents earned in the year-ago quarter.
Operational Update
Sales increased 8.7% y/y to $93 million, at par with the Zacks Consensus Estimate. The outperformance was driven by 36% sales growth at Applied Technology and 17% at Engineered Films. However, revenues at Electronic Systems and Aerostar were … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mitsubishi UFJ Initiated At Neutral

Posted: 23 Nov 2011 09:30 AM PST

We are initiating our coverage on Mitsubishi UFJ Financial Group Inc. (NYSE:MTU) with a Neutral recommendation. The company provides broad range of domestic and international financial operations to individual and corporate customers. Mitsubishi UFJ is very active in emerging markets for expansion though the global economy remains susceptible to economic and political developments.
Mitsubishi UFJ's net income for the six months ended September 30, 2011 was ¥696.1 billion ($8.8 billion) versus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Another Dip In Crude

Posted: 23 Nov 2011 04:30 AM PST

11/23/11 Front month crude prices have fallen to trade just above $95 a barrel as the euro currency continues to while weak economic data out of Europe has once again weighed on global … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Manufacturing Boosts October Trucking Tonnage

Posted: 23 Nov 2011 09:26 AM PST

ARLINGTON, VA — “The American Trucking Associations' advance seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 0.5% in October after rising a revised 1.5% in September 2011. The latest gain put the SA index at 116.3 (2000=100) in October, up from the September level of 115.8.

Compared with October 2010, truck tonnage was up 5.7% following an increase in September of 5.8% above a year earlier. Further, October's tonnage reading was just 4.4% below the index's all-time high … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Sinks On Germany

Posted: 23 Nov 2011 04:25 AM PST

11/23/11 The euro is trading at session lows against the dollar this afternoon as a series of weak economic reports out of Germany and one of the weakest German treasury auctions since the launch of the euro kept investors away from the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Deere Tops Estimates

Posted: 23 Nov 2011 09:20 AM PST

Deere & Co. (NYSE:DE) delivered earnings of $1.62 per share in its fourth quarter ended October 31, 2011, comfortably exceeding the Zacks Consensus Estimate of $1.44. Results were 51% ahead of $1.07 earned in the year-ago quarter. The outperformance was largely driven by strong demand for farm machinery as well as increased sales of construction equipment.
Operational Update
Deere's worldwide total sales increased 20% year over year to $8.6 billion, beating the Zacks Consensus Estimate of $8 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

New Credit Facility For Host Hotels

Posted: 23 Nov 2011 09:20 AM PST

Host Hotels & Resorts Inc. (HST) recently announced that it has closed a new $1 billion revolving credit facility, which represents a $400 million increase from its existing facility, maturing September 2012. The company also has an option to increase the principal amount of the new facility by an additional $500 million, thus extending the total amount to $1.5 billion.
As a part of the company's corporate strategy, the new credit facility improves liquidity and flexibility and bears an … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Rating Action On AXIS Capital

Posted: 23 Nov 2011 09:05 AM PST

A.M. Best has reiterated the issuer credit ratings (ICR) of 'bbb+' and all the existing debt ratings of AXIS Capital Holdings Limited (NYSE:AXS). The outlook was however upgraded to positive from stable. The rating agency also reiterated the financial strength rating (FSR) of A (Excellent) and ICR of 'a+' of AXIS Specialty Limited (subsidiary of AXIS Capital Holdings) and its operating affiliates. The outlook was upgraded to positive from stable.
The rating affirmations came on the back of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Turkish Central Bank Holds Repo Rate At 5.75%

Posted: 23 Nov 2011 08:52 AM PST

The Central Bank of the Republic of Turkey held its benchmark 1-week repo rate at 5.75%.  The Bank said: “Recent data releases suggest that the rebalancing between the domestic and external demand is ongoing as envisaged. With the credit growth decelerating to more reasonable levels, the desired increase in private  savings has already started to take place. Accordingly, the improvement in the current  account balance is expected to become more significant in the final … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Covidien Snaps Up BARRX Medical

Posted: 23 Nov 2011 08:50 AM PST

Leading health care products maker Covidien (NYSE:COV) is buying California-based privately held BARRX Medical in a bid to bolster its presence in gastrointestinal diseases therapy space.
The Ireland-based company has cut a definitive deal to acquire all the outstanding shares of BARRX Medical for $325 million. The agreement also calls for future milestone payments. 
BARRX Medical makes devices (ablation catheters/systems) for treating gastrointestinal diseases and Barrett's esophagus … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Fortune 500 Firms In 1955 Vs. 2011; 87% Are Gone

Posted: 23 Nov 2011 08:50 AM PST

What do the companies in these three groups have in common?

Group A. American Motors, Studebaker, Detroit Steel, Maytag and National Sugar Refining.

Group B. Boeing, Campbell Soup, Deere, IBM and Whirlpool.

Group C. Cisco, eBay, McDonald’s, Microsoft and Yahoo.

All the companies in Group A were in the Fortune 500 in 1955, but not in 2011.

All the companies in Group B were in the Fortune 500 in both 1955 and 2011.

All the companies in Group C were in the Fortune 500 in 2011, but not … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Moves Toward The Bottom Trendline On The Daily Chart

Posted: 23 Nov 2011 08:42 AM PST

The  EURUSD is trading at the lows for the day and moves closer  to the target support trendline on the daily chart. The level comes in at the 1.3325 today. The price has tested the line 3 separate occasions over the last month of trading.  The bias is to the downside on this chart but with support looming, there should be some profit takers against the level. 
On the hourly chart below the price fell below the 1.3383 level which is a parellel channel. Today, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex Trading: EURUSD Bounces Off The Daily Trendline On First Test.

Posted: 23 Nov 2011 08:42 AM PST

As per the prior post, the EURUSD has found profit taking buyers against trendline support on the daily chart on its first test.  The pair is not out of the woods yet (the trend is still in tact), but with the bounce off the 1.3325 level, it is a sign that profit takers are finding the level too key to pass up (they can sell and re-establish on a break anyway).
The 1.3359 level will now be eyed as an upside  target for the pair.  This is the 38.2% of the last leg … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Timeshare Goes Independent

Posted: 23 Nov 2011 08:40 AM PST

Marriott International Inc. (NYSE:MAR) has completed the spin-off of its Timeshare business into a new publicly traded company. Marriott also announced that the new corporate name of its vacation club business will now be Marriott Vacations Worldwide Corporation. Its shares are being distributed tax-free to Marriott International shareholders.
In mid February, Marriott announced this spin-off as part of its "asset light" strategy. The hived off entity is a pure-play Timeshare company, allowing … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Risk-Reward Balanced At Dendreon

Posted: 23 Nov 2011 08:20 AM PST

We have maintained a Neutral rating on Dendreon Corporation (NASDAQ:DNDN) with a target price of $8.75 following appraisal of third quarter 2011 results.
Dendreon Corporation reported third quarter 2011 loss of 67 cents per share which was narrower than the Zacks Consensus Estimate of a loss of 70 cents due to better-than-expected third quarter revenues. Total revenue in the reported quarter climbed to $64.3 million (including rebates and charge-backs) from $20.2 million in the comparable quarter of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Natural Gas Futures Tumble Ahead Of U.S. Supply Data

Posted: 23 Nov 2011 08:14 AM PST

Forexpros – Natural gas futures were down sharply on Wednesday, trading at a two-day low as investors awaited the release of key data on U.S. natural gas inventories later in the day.

On the New York Mercantile Exchange, natural gas futures for delivery in December traded at USD3.362 per million British thermal units during U.S. morning trade, tumbling 1.55%.

It earlier fell by as much as 1.8% to trade at USD3.356 per million British thermal units, the lowest since November 21, when prices … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Wall Street Slides Ahead Of Holiday

Posted: 23 Nov 2011 08:10 AM PST

11/23/11 US stocks extended losses ahead of Thanksgiving Day.
Euro-zone developments and mixed economic data pressured sentiment and lifted the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

There Is No Money Pile To Be Shared Equally

Posted: 23 Nov 2011 07:54 AM PST

From Walter Williams:

“Class warfare thrives on ignorance about the sources of income. Listening to some of the talk about income differences, one would think that there’s a pile of money meant to be shared equally among Americans. Rich people got to the pile first and greedily took an unfair share. Justice requires that they “give back.” Or, some people talk about unequal income distribution as if there were a dealer of dollars. The reason some people have millions or billions of dollars … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – Dollar Extends Broad Gains On Euro Crisis Fears

Posted: 23 Nov 2011 07:47 AM PST

Forexpros – The U.S. dollar added to broad gains against its major counterparts on Wednesday, as concerns that the debt crisis in the euro zone is spreading to core economies weighed on demand for riskier assets and boosted the greenback.

During U.S. morning trade, the dollar was sharply higher against the euro, with EUR/USD tumbling 1.10% to hit 1.3355.

Germany's Treasury auctioned just EUR3.64 billion of 10-year government bonds with the average yield set at 1.98% in an auction earlier. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Crude Oil Remains Sharply Lower After U.S. Inventory Data

Posted: 23 Nov 2011 07:46 AM PST

Forexpros – Crude oil futures held on to sharp losses on Wednesday, shrugging off a report showing that U.S. crude supplies declined significantly last week, as market sentiment continued to be dominated by fears that the debt crisis in the euro zone was worsening.

On the New York Mercantile Exchange, light sweet crude futures for delivery in January traded at USD95.78 a barrel during U.S. morning trade, tumbling 2.3%.

It earlier fell by as much as 2.6% to trade at USD95.38 a barrel, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – GBP/USD Extends Losses Amid Widespread Risk Aversion

Posted: 23 Nov 2011 07:25 AM PST

Forexpros – The pound extended losses against the U.S. dollar amid widespread risk aversion on Wednesday, as concerns over the deepening debt crisis in the euro zone and lackluster U.S. data clouded the outlook.

GBP/USD hit 1.5529 during U.S. morning trade, the pair's lowest since October 10; the pair subsequently consolidated at 1.5527, shedding 0.65%.

Cable was likely to find support at 1.5421, the low of October 7 and resistance at 1.5655, the days high.

Concerns that the euro zone … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Forex – EUR/USD At 6-week Low As Euro Zones Woes Weigh

Posted: 23 Nov 2011 07:23 AM PST

Forexpros – The euro remained sharply lower against the U.S. dollar on Wednesday, trading at a six-week low after weak investor demand at a German bond auction added to fears that the euro zone debt crisis is spreading to core economies.

EUR/USD hit 1.3361 during U.S. morning trade, the pair's lowest since October 6; the pair subsequently consolidated at 1.3369, tumbling 1%.

The pair was likely to find support at 1.3259, the low of October 5 and resistance at 1.3530, the days high.

The … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

U.S. Stocks Tumble As EU Debt Fears Weigh; Dow Drops 1.5%

Posted: 23 Nov 2011 07:21 AM PST

Forexpros – U.S. stock markets were sharply lower after the open on Wednesday, as investors shunned riskier assets amid concerns the euro zone's sovereign debt crisis was worsening.

During early U.S. trade, the Dow Jones Industrial Average tumbled 1.5%, the S&P 500 index plunged 1.7%, while the Nasdaq Composite index dropped 1.65%.

Concerns over the euro zone's debt crisis intensified after Germany's Treasury auctioned just EUR3.64 billion of 10-year government bonds with the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

EU Data Leads Global Equity Plunge

Posted: 23 Nov 2011 01:15 AM PST

11/23/11 NYFP’s Morning Market Brief: A flurry of weak economic reports out of Europe, especially Germany, paved the way for a session of steep declines for the global … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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