| Market Summary |
The market closed in the green today as stocks closed the week higher, unfazed by a lackluster jobs report. Investors had been anxiously awaiting the January payrolls report, hoping it would give some indication how fast or slow the job market will grow this year. The Dow Jones industrial average gained 1.2 percent on the day and 2.8 percent for the week, the broader Standard & Poor's 500 index up 12.91 to 1,202.80 rose Friday 1.1 percent and was up 2.7 percent for the week. The Nasdaq composite up 29.08 to 2,086.72, advanced 1.4 percent Friday and added 2.5 percent for the week. More Market News
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| Market News |
Can investors score with shares of the company that produced the playing surface for the big game? Advertisers are doling out $2.4 million to hawk their wares for a mere 30 seconds during the Super Bowl. But one company will have its product in prime view for the entire game. And it didn't have to pay Fox a dime. In fact, the company is getting paid by the National Football League. (Source: CNNMoney.com) Full Story
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Time Warner Inc., the world's largest media company, reported Friday that its earnings nearly doubled in the fourth quarter without the losses from its former music division in the year-ago period and on higher results from cable TV, publishing and other businesses. Time Warner -- whose vast stable of media brands includes HBO, Warner Bros., CNN and People magazine -- posted net earnings of $1.13 billion, or 24 cents per share, compared with $639 million, or 14 cents per share, in the same period a year ago. Revenues rose 1.9 percent to $11.11 billion from $10.90 billion in the same period a year earlier. (Source: Yahoo.com) Full Story
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Tobacco shares rose Friday after an appeals court in Washington reportedly said U.S. law doesn't support a huge profit disgorgement in the government's racketeering case against cigarette makers. The $280 billion penalty sought by the Justice Department was ruled inappropriate by the Court of Appeals for the District of Columbia . The Justice Department was trying to bring its case to trial under the Racketeer Influenced and Corrupt Organizations Act. Prosecutors argue major tobacco companies systematically lied about the dangers of smoking, and wanted $280 billion profits returned. (Source: TheStreet.com) Full Story
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| Market Analysis |
The big just keep getting bigger in telecom. Sprint is buying Nextel. SBC is scooping up AT&T. And now Verizon and Qwest are said to be looking at MCI. At this pace, it seems like there will be just one major nationwide telecom carrier left standing by the end of 2006. Or will there? Despite all the consolidation among the big brand name companies in the sector, there are still plenty of tiny telecoms out there. Clearly, the telecom industry was ripe for consolidation. There are too many carriers and the intense competition has created a pricing environment that, while great for consumers, is disastrous for the financial health of the telecom companies. (Source: CNNMoney.com) Full Story
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Every night, millions of cashed checks fly around the country, headed for their home bank. Starting Thursday, technology will begin grounding many of those flights. And it may ground some consumers, too those who try to sneak an extra day or two of "float" out of their checking accounts. A new era in banking has begun as the Check Clearing for the 21st Century Act, commonly known as Check 21, takes effect. Banks will slowly get away from the business of flying checks around the country each night. Instead, checks will be cleared electronically, and often destroyed when they are cashed. (Source: MSNBC.com) Full Story
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Growth is steady, employment continues to rise and money is still cheap despite the Fed's rate hike on Feb. 2. So why does it still feel like Punxsutawney Phil was analyzing the U.S. economy when he saw his shadow yesterday morning? It'd be tough for the U.S. economic climate not to feel chilly compared with the hothouse growth of, say, January 1999. (Source: Forbes.com) Full Story
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