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Market News

Location American Market News for 26 February 2013

Daily Wrap: 2/26/2013

Forbes - 26 Feb 2013 23:54
The markets opened on a positive note today with some hopeful signs of recovery from the housing sector. The S&P Case Shiller's composite index of 20 metropolitan areas showed a 0.9 percent rise in home prices in Decembe...
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Greif Incorporated (GEF) maintained its quarterly dividend of 42 cents per share. The dividend is payable on April 1, 2013 to shareholders of record at close of business on March 18, 2013.
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Daily Wrap: 2/25/2013

Forbes - 26 Feb 2013 00:06
The markets opened higher this morning, but reversed course later in the day, over concerns over the election in Italy.
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Analyst Moves: COF, DRI

Forbes - 26 Feb 2013 23:28
Capital One Financial (COF) had its numbers lowered by Jefferies (JEF) due to the sale of the Best Buy card portfolio. A buy rating was issued with a price target of $60.
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Analyst Moves: CL, FE

Forbes - 26 Feb 2013 22:56
Colgate-Palmolive (CL) was downgraded by Bank of America/Merrill Lynch (BAC) to neutral from buy with a price target of $119 as the company is being confronted with difficult comps as well as currency headwinds.
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Analyst Moves: ADSK, CHUY

Forbes - 26 Feb 2013 21:41
Autodesk (ADSK) had its estimates and price target increased by Credit Suisse (CS) as the company has been signing an increasing number of large deals, which should add to the bottom line. A $35 price target was issued.
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Analyst Moves: ADM, OPY

Forbes - 26 Feb 2013 19:03
Archer-Daniels-Midland (ADM) was downgraded by BMO Capital (BMO) as the stock price is approaching the previously set $32 price target.
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Delphi Automotive (DLPH) maintained a dividend of 17 cents per share. The dividend will be paid on March 27 to shareholders of record at the close of business on March 15, and is the first of the former parts unit of Gen...
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Gold Reclaims $1,600

Wall Street Journal - 26 Feb 2013 18:52
Gold futures extended early gains, climbing 1.2%, as Fed chief Bernanke reiterated his support for the central bank's easy-money policies.
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Stocks Get Back Up After Staggering Blow On Monday Unfortunately in the modern market, sometimes it's "stairs up, elevator down." The market has been in a methodical melt-up for most of the year, but yesterday erased several days of constructive price action.
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No Oscar for Italy

Forbes - 26 Feb 2013 18:14
No Oscar for Italy Uncertainty is the market's worst enemy, but politicians around the world don't seem to understand this fundamental issue, as MoneyShow's Tom Aspray surveys the current landscape and recommends steps tor protect your por...
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In trading on Tuesday, general contractors & builders shares were relative leaders, up on the day by about 1.7%. Leading the group were shares of Hovnanian Enterprises (HOV), up about 3.3% and shares of Pultegroup (PHM) ...
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In trading on Tuesday, education & training services shares were relative laggards, down on the day by about 1.4%. Helping drag down the group were shares of Grand Canyon Education (LOPE), off about 4.1% and shares of Ap...
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Treasury Gains Fade

Wall Street Journal - 26 Feb 2013 17:23
Treasury prices pulled back as investors set aside concerns about Italy's political uncertainties to focus on Fed chief Bernanke's testimony.
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Ben Bernanke

Forbes - 26 Feb 2013 17:20
Ben Bernanke Photos of the Forbes Most Powerful People
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Bernanke: Economy Didn't Stall In Q4, It Just Paused Ben Bernanke is set to deliver his semiannual report to Congress, and in prepared remarks ahead of his appearance before the Senate Tuesday, the Federal Reserve Chairman said the U.S. economy is still improving, albeit u...
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J.P. Morgan to Cut $1 Billion in Costs, 4,000 Jobs

Wall Street Journal - 26 Feb 2013 17:10
J.P. Morgan Chase plans to cut overall expenses in 2013 by $1 billion and reduce headcount by 4,000 in its consumer-banking business.
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Deadlock in Italy: All EURO Roads Lead To Rome European political instability never went away, it just lay dormant. Italy has managed to deliver to global capital markets a recipe for successful 'political gridlock.' A country considered as one of the strongest among...
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Home Depot Announces Earnings

Forbes - 26 Feb 2013 16:00
Home Depot (HD) announced that it earned $1.02 billion, or 68 cents per share for the quarter ending on February 3rd, versus $774 million, or 50 cents per share in the same period last year. Sales increased by 14% to $18...
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BOE Discussed Negative Rates

Wall Street Journal - 26 Feb 2013 15:42
U.K. rate setters have discussed the idea of introducing negative interest rates, which would see the Bank of England effectively charge commercial lenders to deposit cash, in an effort to stimulate the economy.
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BlackBerry 10 Launch

Forbes - 26 Feb 2013 15:38
BlackBerry 10 Launch Photos from the BlackBerry 10 launch event.
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The Dow 2012: Pops And Flops

Forbes - 26 Feb 2013 15:34
The Dow 2012: Pops And Flops Bank of America shares doubled this year, but it was Home Depot that accounted for the biggest chunk of the 30-stock index's advance.
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