Evening Market Wrap

Evening Market Wrap Friday, October 28, 2011, 17:01 Contents Commentary Economic News Corporate News Currency Alerts Political News Commentary Stocks Close Mixed After Choppy Trading Day - U.S. Commentary With traders taking a breather following the rally seen in the previous session, stocks turned in a lackluster performance during trading on Friday. The major averages bounced back and forth across the unchanged line before ending the session mixed. (Oct 28, 2011) Full Article Economic News U.S. Personal Income Edges Up 0.1% In September, Spending Jumps 0.6% Reversing a drop in August, U.S. personal incomes rebounded slightly in September, while consumer spending showed a notable increase, according to figures released Friday by the Commerce Department. Personal income increased by $17.3 billion or 0.1 percent in September, reversing the 0.1 percent drop in August. However, most economists had forecast a somewhat stronger 0.3 percent increase. (Oct 28, 2011) Full Article U.S. Consumer Sentiment Shows Unexpected Improvement In October Consumer sentiment in the U.S. unexpectedly improved in the month of October, according to a report released by Reuters and the University of Michigan on Friday. The report showed that the consumer sentiment index for October was upwardly revised to 60.9 from the preliminary reading of 57.5. With the upward revision, the index is above the September reading of 59.4. (Oct 28, 2011) Full Article Corporate News Weyerhaeuser Q3 Net Profit Plummets Weyerhaeuser Company (WY) reported a plunge in its third-quarter net earnings attributable to common shareholders to $157 million or $0.29 per share from $1.12 billion or $3.50 per share a year ago. Latest quarter earnings include after-tax gains of $91 million from special items, including an $83 million benefit related to foreign tax credits. (Oct 28, 2011) Full Article Whirlpool Q3 Profit Climbs; Revises 2011 EPS View; To Axe Jobs Whirlpool Corp.'s (WHR) third-quarter net earnings available to the company advanced to $177 million, or $2.27 per share from $79 million, or $1.02 per share reported during the same period last year. On an adjusted basis, excluding non-operating charges, earnings per share for the period totaled $2.35 compared with $2.22 in the prior year. (Oct 28, 2011) Full Article Newell Rubbermaid Slips To Loss In Q3; Backs 2011 Normalized EPS View Newell Rubbermaid Inc. (NWL) reported third-quarter net loss of $177.6 million or $0.61 per share compared with an income of $28.3 million or $0.09 per share last year. Normalized earnings were $132.1 million or $0.45 per share compared with prior year results of $118.7 million or $0.42 per share. (Oct 28, 2011) Full Article Chevron Q3 Profit Up Integrated energy company Chevron Corp.'s (CVX) third-quarter net income attributable to the company advanced to $7.83 billion or $3.92 per share from $3.77 billion or $1.87 per share in the prior-year quarter. Wall Street expected earnings per share of $3.44 for the quarter. (Oct 28, 2011) Full Article Goldman Sachs Says It Elects Michele Burns As An Independent Director Goldman Sachs Group, Inc. (GS) announced the election of Michele Burns as an independent director of the firm, effective October 27, 2011. The company noted that Burns' election expands the Board to 12 directors, 10 of whom are independent directors. She will be a member of each of the firm's Audit, Risk, Compensation and Corporate Governance and Nominating committees, Goldman Sachs added. (Oct 28, 2011) Full Article Currency Alerts Dollar Fails To Rally After 7-Week Lows The dollar struggled to recoup big losses from the previous few sessions on Friday, as a economic news from the U.S. continued to be overshadowed by developments in Europe. On Thursday, European officials outlined new measures to prevent a Greek restructuring from leading to a full-blown catastrophe for the euro. (Oct 28, 2011) Full Article Political News Obama Takes Unilateral Steps To Help Businesses Create Jobs With Republicans in Congress seemingly unwilling to pass President Barack Obama's jobs bill, the White House announced Friday that the president is taking steps on his own to help businesses create jobs and strengthen their global competitiveness. The White House said Obama issued two Presidential Memoranda as part of a series of executive actions to put Americans back to work and strengthen the economy. (Oct 28, 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