Stock BlurbsStocks and Financial News
US Dollar weakens driving Gold over $1000
Gold prices rose over $1000 for the first time since February as the US Dollar weakened over fears of inflation and excess government stimulus spending. Inflation worries has forced investors to investments that are considered safe such as Gold.
When the value of the dollar, often considered the world’s reserve currency, is falling, investors often turn [...]
Cash for clunkers to end Monday
The 3 billion dollar government program to trade in old cars for rebate incentives from the dealer will end Monday at 8 p.m. The month old program which initially was set to 1 billion dollars was extended for a total of 3 billion. The program ran for a month and the 3 billion funding has [...]
Oil Possibly to hit $85
A weaker Dollar USD pegged against a stronger EURO with oil at $74 poses the possibility of oil breaking a technical level of $74 and rising to $85. Friday Crude Oil hit a 12 month high.
Sprint 4Q 2008 Loss less than expected but keeps losing customers
NEW YORK -(Dow Jones)- Sprint Nextel Corp. (S) posted a narrower fourth- quarter loss and indicated that it’s on the cusp of turning around its subscriber losses.
The Overland Park, Kan., wireless carrier lost 1.3 million subscribers in the fourth quarter – still an alarmingly high rate – but suggested the declines were stabilizing as predicted. [...]
HP’s Profit Drops 13%, Cuts 2009 Forecast
Computer giant Hewlett Packard is feeling the recession as it reported a profit drop of 13 percent and was forced to cut it’s 2009 forecast.
“The swing in the revenue outlook is particularly glaring and suggests that, clearly, their business has slowed materially over the last two months,” said Calyon Securities analyst Shebly Seyrafi.
The company [...]