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Daily Market Wrap: November 20, 2012 Tuesday, November 20, 5:07 PM ET The markets held onto gains earlier in the day but reversed course after investors were discouraged by remarks from Fed Chairman Ben Bernanke regarding the fiscal cliff.
The Commerce Department is reporting a 3.6 percent increase in housing starts in October, to a seasonally adjusted 894,000, marking a four-year high. Homebuilders including DR Horton (DHI) and Lennar (LEN) were trading higher on the news.
Shares of H-P (HPQ) took a nosedive today after news of an accounting charge related to its acquisition of software firm Automony. Meanwhile, the company had their rating downgraded by at least two brokerages, despite better than expected earnings.
Campbell Soup (CPB) reported an 8 percent drop in net income in the first quarter, due to charges related to a recent acquisition. But the company reaffirmed its projections for 2013. Shares are trading down slightly today.
Tomorrow, we'll take a look at the numbers for weekly mortgage applications, jobless claims as well as earnings from Deere (DE).
For Marketnewsvideo.com, I'm Sayoko Murase. Relevant Stock Market Definitions
Adjustable Rate Mortgage Definition, Exchange Traded Fund Definition, The Importance of ETFs, Dow Jones Industrial Average Definition, Earnings Per Share Definition, Initial Jobless Claims Definition, Price-To-Earnings Definition, What Is An Annuity?, What is an ETN? | |
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