Archive for July 10th, 2009

Business Highlights (AP)

General Motors completed an unusually quick exit from bankruptcy protection on Friday with ambitions of making money and building cars people are eager to buy.

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CIT Group, Chevron, AIG are big movers (AP)

Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market: NYSE:

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Dow, S&P 500 in fourth weekly fall as economy weighs (Reuters)

The Dow industrials and the S&P 500 fell on Friday, dropping for the fourth straight week, after Chevron Corp warned about its quarterly results and consumer confidence fell to it lowest level since March.

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Business events scheduled for the coming week (AP)

MONDAY, July 13 WASHINGTON –Treasury releases federal budget for June, 2 p.m.; House Financial Services subcommittee hearing on preventing unfair trading by government officials.

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Kennametal shares rise as analyst upgrades shares (AP)

Shares of Kennametal Inc., which makes metal-cutting tools and highway-construction equipment, jumped Friday as an analyst upgraded his rating on the company’s shares to “Buy,” citing higher expected production.

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Chevron shares fall after 2Q warning (AP)

Shares of Chevron Corp. slid on Friday a day after the company warned of weak second-quarter results, hurt by lower refining margins in the U.S. and foreign currency losses.

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Movers roundup: Rigel Pharmaceuticals, Shaw Group (AP)

Shares of Rigel Pharmaceuticals Inc. continued climbing, a day after the drug developer said its experimental rheumatoid arthritis treatment successfully reduced patients’ symptoms.

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Movers roundup: Navigant Consulting, Stanley Works (AP)

Navigant Consulting Inc. is cutting costs and holding on to its employees, an analyst said, upgrading the stock and driving shares up more than 8 percent.

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MEMC upgraded on weak poly prices, shares jump (AP)

MEMC Electronic Materials Inc., which supplies silicon wafers used in chips and solar cells, is poised to gain from cost reductions due to weakened polysilicon prices, a Citigroup analyst said in upgrading the stock.

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Sector Snap: Life science instrument makers (AP)

A Deutsche Bank analyst on Friday upgraded his opinion on shares of life science instrument makers, saying the low levels of hospital spending seen in the first quarter have slightly improved, and key biopharmaceutical customers are showing positive growth.

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