Archive for August 3rd, 2009

U.S. auto sales bolstered by rush to dump "clunkers" (Reuters)

U.S. auto sales jumped to the highest level of 2009 in July as Americans rushed to take advantage of the government’s “Cash for Clunkers” program, raising hopes that the battered sector is poised for recovery.

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Sign of stock market healing: S&P 500 above 1,000 (AP)

The Standard & Poor’s 500 index is four digits again now that the stock market’s rally has blown into August. The widely followed stock market measure broke above 1,000 on Monday for the first time in nine months as reports on manufacturing, construction and banking sent investors more signals that the economy is gathering strength.

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BofA, Ford, Alcoa, Huron Consulting are big movers (AP)

The following stocks were among those that moved substantially or traded heavily Monday on the New York Stock Exchange and Nasdaq Stock Market:

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Business Highlights (AP)

The Standard & Poor’s 500 index is four digits again. The widely used stock market measure broke above 1,000 on Monday for the first time in nine months as reports on manufacturing, construction and banking sent investors more signals that the economy is gathering strength.

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Factory data and Ford sales help stocks extend rally (Reuters)

Stocks rose on Monday, pushing the S&P 500 index above 1,000 for the first time in nine months, as data on the manufacturing sector underscored optimism that the economy was recovering.

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UBS shares gain, details of U.S. tax deal awaited (Reuters)

Shares of UBS rose sharply on Monday as attention turned to details of an agreement ending the Swiss bank’s dispute with U.S. authorities over whether it should reveal the identities of thousands of American clients.

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Chesapeake Energy shares rise before 2Q report (AP)

Shares of Chesapeake Energy Corp. rose on Monday just hours ahead of its second-quarter earnings report, as a Standard & Poor’s Equity Research analyst raised his price target for the natural gas producer’s stock.

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James River Coal shares fall after 2Q profit miss (AP)

Shares of James River Coal Corp. fell on Monday after the mine operator posted second-quarter earnings shy of Wall Street expectations and slashed expectations for the full year.

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Genzyme shares dip as rival moves closer to market (AP)

Shares of Genzyme Corp. fell further Monday as potential rival Shire Plc. moved closer to putting a genetic disorder treatment on the market.

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Weyerhaeuser shares rise as earnings beat estimate (AP)

Shares of Weyerhaeuser Co. rose Monday after the major U.S. timber producer reported second-quarter results that beat analyst estimates and topped the previous quarter’s performance.

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