Archive for August 29th, 2009

More post offices may face cuts (AP)

The number of post offices being considered for possible closure to save money seems to be growing. The Postal Service faces a potential deficit of $7 billion this fiscal year and has been looking for ways to save, including buyouts, spending cuts and closing offices.

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Stocks mostly lower; Nasdaq buoyed by Intel news (AP)

Investors balked at extending the market’s recent rally Friday despite an improved outlook from Intel Corp. Stocks closed mostly lower, as losses among health care stocks offset small gains in technology companies.

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Business Highlights (AP)

Household income in the United States is essentially stagnant, raising doubts about whether consumers already hurt by job losses can sustain an economic recovery.

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Movers roundup: E-Trade, Cost Plus (AP)

Shares of online brokerage E-Trade Financial Corp. rose in heavy trading following the completion of a deal that lets its bondholders convert debt into equity.

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Dell, Intel, Tiffany, AIG are big movers (AP)

The following stocks were among those that moved substantially or traded heavily Friday on the New York Stock Exchange: NYSE:

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Business events scheduled for the coming month (AP)

TUESDAY, Sept. 1 NEW YORK — The Institute for Supply Management releases its manufacturing index for August, 10 a.m. DETROIT — Major automakers report U.S. auto sales for August.

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Business events scheduled for the coming week (AP)

MONDAY, Aug. 31 LAS CRUCES, N.M. — Energy Secretary Steven Chu addresses New Mexico State University energy conference, “Re-Energizing America: Policy, Practice and Possibility for America’s Future.”

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Intel raises sales forecast; shares jump 4 percent (AP)

Intel Corp. raised its third-quarter revenue forecast above Wall Street’s expectations Friday, citing strong demand for its chips and giving another signal that business is improving for one of the world’s biggest technology companies.

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Cyclacel Pharmaceuticals faces Nasdaq delisting (AP)

Cyclacel Pharmaceuticals Inc. said Friday it could be delisted from Nasdaq because it does not comply with the $10 million minimum shareholder equity requirement.

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Dow, S&P dip; Nasdaq ekes out gain on Dell, Intel (Reuters)

U.S. stocks mostly slipped on Friday after a weak consumer sentiment report offset positive news from bellwethers Dell Inc and Intel Corp .

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