The Midday S&P 500 Is Up Despite Citibank's Massive Job Cuts
By Anthony Shields Dec 05, 2012 3:10 pm
Plus, investors are finding favor with Western Digital's dividend plan.
MINYANVILLE ORIGINAL The S&P 500 (INDEXSP:.INX) is up .45% to 1,413.43 as of 2:20 p.m. today. Leading this rise is Western Digital Group (NASDAQ:WDC) which rose 8.48% to $36.47 after announcing a quarterly dividend of $0.25. Also up is Citigroup (NYSE:C) which gained 7.00% to $36.69 per share after announcing that it will cut 11,000 jobs. On the other hand, copper and gold producers Freeport-McMoRan Copper & Gold Inc (NYSE: FCX) lost 14.60% to $32.68 a share after announcing plans to acquire Plains Exploration & Production Company (NYSE:PXP) and McMoRan E (NYSE: MMR).
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