Evening Market Wrap

Evening Market Wrap Monday, October 17, 2011, 17:01 Contents Commentary Corporate News Currency Alerts Stocks To Watch Commentary Stocks Slide On Worries About Banks - U.S. Commentaries Stocks finished sharply lower on Monday, with the Dow falling nearly 250 points and the S&P 500 posting a 2-percent drop. A weak report about the manufacturing sector and concerns about the big banks sparked the decline. Stocks started the day lower, as traders indulged in some profit-taking after the gains posted on Friday. The retreat continued steadily through the session, with the major averages closing near their lows of the day. (Oct 17, 2011) Full Article Corporate News Wal-Mart Says China President And CEO Ed Chan Resigns, Names Interim CEO Retail giant Wal-Mart Stores Inc. (WMT) announced Monday that Walmart China's President and Chief Executive Officer Ed Chan is leaving the company for personal reasons. The company named Scott Price, currently president and CEO of Walmart Asia, to the additional role of Chinese division's interim leader with immediate effect. (Oct 17, 2011) Full Article RIM Offers Free Premium Apps As Outage Compensation BlackBerry maker Research In Motion Ltd. (RIMM, RIM.TO) on Monday said it will offer its subscribers more than $100 worth premium apps free in an effort to appease the peeved users from last week's service outages in its BlackBerry network. The offer is "an expression of appreciation for their patience during the recent service disruptions," the company said. (Oct 17, 2011) Full Article Hasbro Q3 Profit Grows Hasbro Inc. (HAS) posted a rise in its third-quarter net earnings to $170.99 million or $1.27 per share from $155.16 million or $1.09 per share a year ago. On average, 16 analysts polled by Thomson Reuters expected earnings per share of $1.30 for the quarter. (Oct 17, 2011) Full Article LoJack Appoints Randy Ortiz As President And CEO LoJack Corp. (LOJN) said it appointed Randy Ortiz as Chief Executive Officer and President, effective November 1, 2011. Ortiz is a recognized auto industry veteran with nearly 30 years of experience at Ford Motor Co. (F). Most recently, he served as CEO at Carmoza LLC. (Oct 17, 2011) Full Article Citigroup Q3 Profit Up Financial services giant Citigroup Inc. (C) posted higher third-quarter net income of $3.77 billion versus $2.17 billion last year, reflecting the impact of credit valuation adjustment or CVA and a $2.6 billion improvement in the cost of credit, partially offset by an 8% increase in operating expenses from the year-ago period. Quarterly earnings per share were $1.23, higher than $0.72 in the comparable period a year ago. (Oct 17, 2011) Full Article Currency Alerts Dollar Finds Footing As Merkel Downplays EU Summit The dollar steadied on Monday, paring last week's steep losses versus the euro after German Chancellor Angela Merkel tempered expectations for a comprehensive solution to the euro zone's sovereign debt crisis. Merkel warned that all of Europe's issues will not be resolved at a crucial EU summit on October 23. She expects the solution to the European debt crisis to be a long process and continue well into next year. (Oct 17, 2011) Full Article Stocks To Watch Drilling Profits... This low-cost, independent oil and natural gas producer comes on our radar, in view of its strong quarterly results and growth in production for the seventh quarter in a row... (Oct 17, 2011) Full Article Home | Top Stories | Breaking News | Economic News | Forex | Politics | Featured Interviews Sent to autoforextradingpro@gmail.com | Customize your alerts | Unsubscribe Copyright © 2011 RTTNews. All rights reserved. By using this service, you agree to the Terms of Service