Economy January-23 2009 GE Slumps
Stocks slump on earnings woes
GE earnings dim by 47%
Conglomerate's profit comes in at low end of its expectations. Immelt expects to maintain 2009 dividend.
10:32am:
Markets Last Change
Dow Jones 7,959.68 -163.12 / -2.01%
Nasdaq 1,455.19 -10.30 / -0.70%
S&P 500 815.60 -11.90 / -1.44%
10-year Bond 109 20/32 Yield: 2.62%
U.S.Dollar 1 euro = $1.281
Wall Street retreats as GE adds to gloomy corporate profit picture. Triple-digit selloff on Dow. Nasdaq off 1%, S&P 500 down 1.7%.
Earnings: The week has brought a slew of weaker-than-expected earnings. Late Thursday, Advanced Micro Devices (AMD, Fortune 500) reported weaker quarterly sales and earnings that missed estimates. The company also forecast that first-quarter revenue would drop from the fourth quarter. Shares fell 3% Friday morning.
http://www.latimes.com/business/investing/la-fi-markets23-2009jan23,0,1788056.story
http://money.cnn.com/2009/01/23/markets/markets_newyork/index.htm?cnn=yes
GE earnings dim by 47%
Conglomerate's profit comes in at low end of its expectations. Immelt expects to maintain 2009 dividend.
10:32am:
Markets Last Change
Dow Jones 7,959.68 -163.12 / -2.01%
Nasdaq 1,455.19 -10.30 / -0.70%
S&P 500 815.60 -11.90 / -1.44%
10-year Bond 109 20/32 Yield: 2.62%
U.S.Dollar 1 euro = $1.281
Wall Street retreats as GE adds to gloomy corporate profit picture. Triple-digit selloff on Dow. Nasdaq off 1%, S&P 500 down 1.7%.
Earnings: The week has brought a slew of weaker-than-expected earnings. Late Thursday, Advanced Micro Devices (AMD, Fortune 500) reported weaker quarterly sales and earnings that missed estimates. The company also forecast that first-quarter revenue would drop from the fourth quarter. Shares fell 3% Friday morning.
http://www.latimes.com/business/investing/la-fi-markets23-2009jan23,0,1788056.story
http://money.cnn.com/2009/01/23/markets/markets_newyork/index.htm?cnn=yes
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