Archive for August 18th, 2009

Oil firms above $67 ahead of inventory data (Reuters)

Oil rose above $67 a barrel on Tuesday, tracking gains on global stock markets ahead of key U.S. crude inventory data. U.S. crude for September delivery was up 61 cents at $67.36 a barrel by 1430 GMT .

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`Methland’ highlights failing rural economy (AP)

Nick Reding, the author of a well-received book about methamphetamine’s grip on a small town, believes the drug is “only a symptom of a larger economic and ultimately political problem.”

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First Marblehead shares fall after 4Q loss (AP)

Shares of First Marblehead Corp. fell Tuesday after the company reported a fiscal fourth-quarter loss, and an analyst expressed concern over future loan losses.

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Retailers’ results top estimates; wariness remains (AP)

Target Corp. and Home Depot Inc. on Tuesday posted lower profits that still topped Wall Street expectations, but economic worries are likely to keep shoppers tight-fisted in the months ahead, executives predicted.

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Sector Snap: Analyst starts coverage of FedEx, UPS (AP)

An RBC Capital Markets analyst initiated coverage on the world’s two largest package delivery carriers on Monday, saying that FedEx Corp. shares might grow more as the economy begins to recover.

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Trina Solar shares jump on 2Q surprise (AP)

Shares of Trina Solar Ltd. jumped on Tuesday, a day after the solar power company posted rising second-quarter profits. Shares of Trina Solar climbed 79 cents, or 3 percent, to $27.02 in morning trading.

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Wall Street climbs as earnings offset poor housing data (Reuters)

Stocks rose on Tuesday after better-than-expected results from retailers Home Depot Inc and Target Corp offset a surprise drop in housing starts.

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World markets bounce back after big falls (AP)

World stock markets rebounded Tuesday — a day after heavy losses stoked fears that the five-month rally was coming to an end.

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Stocks slightly higher after sharp drop (AP)

Investors moved back into the stock market Tuesday, joining in a worldwide rebound from the previous day’s big sell-off.

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Premarket roundup: Corning, Corp Exec Board (AP)

An analyst upgraded Corning Inc. Tuesday, saying investors are underestimating a potential recovery for the maker of liquid crystal display glass.

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