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Market News

Location American Market News for 13 December 2012

Daily Wrap: 12/13/23

Forbes - 13 Dec 2012 22:57
It was a down day on Wall Street as all the major indices were lower as investors keep a close eye on the the fiscal cliff negotiations.
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Producer Prices Drop

Forbes - 13 Dec 2012 22:54
The Labor Department announced that the seasonally adjusted producer price index dropped by 0.8 percent last month, the second straight decline. The drop was more than expected due to falling energy prices, and was the s...
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'Twas The Night Before Christmas': 2012 Version Twas the night before Christmas, and all down the Street Not a trader was stirring, not even a cheat. The portfolios were locked up with the greatest of care, In hopes that St. Ben soon would be there.
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Analyst Moves: RIMM, SAM

Forbes - 13 Dec 2012 22:44
Research in Motion (RIMM) had its numbers increased by Jefferies (JEF) as smartphone volumes have been maturing. A hold rating was issued with a $13 price target.
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Natural Gas Continues to Fall

Wall Street Journal - 13 Dec 2012 22:40
Natural-gas futures closed lower for a sixth straight day after a U.S. inventory report showed surprisingly lofty inventories.
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Analyst Moves: CRL, DAL

Forbes - 13 Dec 2012 22:32
Charles River (CRL) was upgraded by JP Morgan (JPM) to overweight, as the current stock price provides investors with an attractive entry point.
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Pimco to Boost Five-Year Treasury Holdings

Wall Street Journal - 13 Dec 2012 22:28
The world's biggest bond fund, Pimco's Total Return Fund, plans to increase its holdings of five-year Treasury notes now that the Fed will be including them in its asset-purchase program and has made fresh commitments to...
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Senate Blocks Bank Backstop

Wall Street Journal - 13 Dec 2012 22:21
Senate Republicans blocked a bill to extend an unlimited guarantee on nearly $1.5 trillion in bank deposits, effectively ending a crisis-era program that was popular with smaller banks.
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Pier 1 Imports Incorporated (PIR) announced its quarterly dividend of 5 cents per share, an increase of about 25% over its prior dividend in October of 4 cents. The dividend is payable on January 30 to shareholders of re...
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AstraZeneca shares hobbled by arthritis drug

Telegraph - 13 Dec 2012 21:19
AstraZeneca shares hobbled by arthritis drug The drugmaker revealed disappointing clinical test results.
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Another Round of Cliff Selling?

Forbes - 13 Dec 2012 21:11
Another Round of Cliff Selling? With the last FOMC meeting of the year out of the way, focus shifts back to the countdown to the fiscal cliff. MoneyShow's Tom Aspray shares what the charts say about the short-term outlook for the markets as we head int...
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True Religion Apparel Incorporated (TRLG) maintained its quarterly dividend of 20 cents per share. The dividend is payable on December 27, 2012 to shareholders of record at the close of business on December 21, 2012. Thi...
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Analyst Moves: TSO, VRA

Forbes - 13 Dec 2012 20:29
Tesoro (TSO) was upgraded by Credit Suisse (CS) to outperform from neutral with a price target of $60, as the BP Carson deal should add to earnings and valuation lacks that of its peers.
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MetLife Gives Weak 2013 View

Wall Street Journal - 13 Dec 2012 20:00
MetLife executives predicted earnings are likely to fall next year amid a "challenging" ultralow interest-rate environment.
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Deutsche Bank Warns on Results

Wall Street Journal - 13 Dec 2012 19:55
Deutsche Bank's fourth-quarter results will take a substantial hit from restructuring and de-risking efforts announced earlier this year, Germany's largest bank by market value said.
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Nasdaq Cancels Some Premarket Trades

Wall Street Journal - 13 Dec 2012 19:50
Shares of Goldman Sachs, Citigroup and Hewlett-Packard were among the ones affected. The exchange operator said it was looking into potentially erroneous trading activity.
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Caterpillar Incorporated (CAT) maintained its quarterly dividend of 52 cents per share. The dividend is payable December 31, 2012, to stockholders of record at the close of business, December 24, 2012.
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eBay Now Sells Millions In Gold And Silver Through New Investing Platform Forget used textbooks or vintage records. The hottest items for sale on eBay today will put a truer sparkle in your eye: You may now, with a large measure of safety and security, buy physical gold and silver, as well as ...
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Lenders Take Stakes in Spain's Bad Bank

Wall Street Journal - 13 Dec 2012 19:20
A group of commercial lenders and insurers have agreed to become shareholders of Spain's so-called bad bank.
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Banking Outlook 2013: 8 Things to Watch

Forbes - 13 Dec 2012 19:17
Banking Outlook 2013: 8 Things to Watch Thanks to two major X factors -- the fiscal cliff and new bank capitalization standards -- 2013 could be the most eventful period for the banking industry since the crisis years of 2008 and 2009.
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Forbes Earnings Preview: Oracle

Forbes - 13 Dec 2012 19:15
Oracle (ORCL) reports its second quarter earnings on Tuesday, December 18, 2012.
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SolarCity Jumps in Debut

Wall Street Journal - 13 Dec 2012 18:58
Solar-panel-installation firm SolarCity rose 16% post-IPO after pushing back its debut by a day and cutting its share-price target.
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