The U.S stock markets continue to be in green, since the European woes were eased. Dow Jones, S&P 500 and Nasdaq are all in green. Dow Jones is currently up 0.28% to 10,370.13, S&P 500 is currently up 0.56% to 1,098.00 and Nasdaq is up 0.76% to 2,225.68.
Irish government, taking into consideration the growing fears escalating bank losses and possible default, has decided to split Anglo Irish bank into two separate entities. One of the two entities would eventually cease to exist.
A Reuters poll today showed that economists have further cut the outlook for U.S growth following rising unemployment and a weak housing market. The U.S growth outlook has been cut for third successive month in a row.
Shares of Visa Inc (NYSE: V) had a substantial drop following a downgrade in ratings. Bank of America’s analyst James Kissane downgraded the Visa shares from ‘neutral’ to ‘underperform’. Visa shares are currently down 3.96% to $68.67.
Qiao Xing Mobile Communication Ltd (NYSE: QXM) rose sharply in the pre-market trading following acquisition proposal from Qiao Xing Universal Resources (NASDAQ: XING). Qiao Xing Mobile shares rose as much as 33% earlier in the day following a proposal from Qiao Xing Universal to buy out all the outstanding shares. Qiao Xing Mobile shares are currently up 37.60% to $3.55 in the current trading session.
killed health care group (NYSE: SKH) shares have risen significantly following the announcement that the company had settled a class action lawsuit for $50 million just a fraction of what it was liable to pay and therefore avoiding bankruptcy. The company shares are currently up 24.29% to $4.35.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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