Archive for October 9th, 2009

USDA OKs $17.4M loan for Kansas wind farm project (AP)

U.S. Agriculture Secretary Tom Vilsack says the government will loan $17.4 million to help build 10 wind turbines for a rural Kansas city.

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A look at economic developments around the globe (AP)

A look at economic developments and activity in major stock markets around the world Friday: —— FRANKFURT — European Central Bank President Jean-Claude Trichet said it is still not time for the bank to start implementing exit strategies from the “extraordinary measures” it has taken amid the global economic crisis.

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Citigroup to offload Phibro, Hall to Occidental (Reuters)

Citigroup Inc agreed to sell its Phibro energy trading business to Occidental Petroleum Corp for a pittance, allowing the bank to calm regulators who were outraged over a $100 million pay package the unit was obliged to pay a star trader.

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Rupert Murdoch’s Speech at the World Media Summit (Business Wire)

BEIJING—-The following is a speech from Rupert Murdoch:

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Government predicts big Ohio corn, soybean crops (AP)

The government is forecasting healthy corn and soybean crops in Ohio and across the country, despite earlier concerns about a cool growing season.

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Sector Snap: Tech hardware sector upgraded (AP)

Citing improving corporate demand for technology products, Barclays upgraded the hardware sector to “Positive” from “Neutral” on Friday.

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Acorda shares plunge on negative FDA review (AP)

Shares of Acorda Therapeutics plummeted Friday after the Food and Drug Administration issued a negative opinion that questioned the safety and effectiveness of the company’s multiple sclerosis drug.

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Supervalu shares drop after Barclays downgrade (AP)

Shares of Supervalu Inc. dropped Friday after a Barclays Capital analyst downgraded the grocery chain, saying grocery-store promotion wars and increasing sales of lower-priced items are pressuring profit margins.

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Wall Street gains slightly as broker comments lift tech (Reuters)

Stocks staged modest gains on Friday, lifted by supportive comments on technology bellwethers before key earnings reports due next week.

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Scientific Learning shares soar on 3Q outlook (AP)

Shares of educational software provider Scientific Learning Corp. surged more than 80 percent in morning trading Friday, after forecasting its third-quarter profit will jump at least tenfold as productivity improved and federal stimulus money flowing to school districts led to record sales.

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