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VIDEOMorning Roundup: Jobless Claims Fall as Trade Gap Narrows
By
Nick Gwiazda Sep 09, 2010 11:10 am
Stocks rose today amid substantially better net exports data and lower jobless claims.
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In the UK, the British Financial Services Authority has fined Goldman Sachs (GS) $27 million for failing to disclose information about a banker -- the now infamous Fabrice Toure, who moved to Goldman’s London office from New York. The fine also follows the SEC’s recent fraud charge against Goldman.
In Brazil, second-quarter GDP data show year-over-year growth of 8.8%, coming in higher than expected. This news reaffirmed Brazil’s 7.5% GDP growth forecast for 2010.
AT&T (T) is continuing its efforts to provide “more bars in more places,” investing $275 million in the troubled New York City region, notorious for patchy, sluggish service. Twenty-five new cell sites were added while 14 were upgraded in AT&T’s continued effort to improve mobile broadband, wireless voice, and data connectivity.
In M&A news, 3M (MMM) has acquired Arizant, a manufacturer of patient-warming solutions designed to expedite the recovery time for hypothermia patients. 3M will pay $810 million in cash for Arizant in an effort to broaden its technology base.
McDonald’s (MCD) sales data for August show a 4.9% increase, owing the success to cold-drink sales amid the August heat. The increase however is down from the July increase of 5.7%; McDonald’s traded down this morning as a result.
Tech titan Apple (AAPL) has announced that it will relax its app development and distribution criteria. This move is possibly in response to the growing popularity of the Droid, Motorola’s (MOT) flagship smartphone also known for stellar apps.Semiconductor giant Intel (INTC) has announced that it will be designing a new processor with graphics capabilities built in. The announcement poses a threat to rival chip maker AMD (AMD) as well as Nvidia (NVDA), which has a lawsuit pending with Intel.
No positions in stocks mentioned.
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