Through, a sign that super high stock prices are not justified is one reason stocks sold off today. Technology, internet, biotech stocks and a lot of Small Cap Companies were swept up in the sell off. Here is are run down, the dow lost 117 closing below the key 17,000 mark, the nasdaq tumbled by 60, a decline of 1 and s p off by 14 points. The First Company to report numbers, alcoa earned 18 cents a share that excludes special accounting items and a beat of six cents a share. Management says global aluminum demand will grow 7 this year, shares moved higher in after hours trading. That strong Second Quarter at alcoa reflects a new strategy as it transitions from a commodity provider. Morgan brennan has more. Reporter alcoa shed light on a big much er shift from aluminm to industrial. Its a transformation in high gear, you see the value at business makes up roughly 59 off the revenues but almost 70 off the profits. Reporter alcoa is concentrating on producing parts for airplanes, heavy t
The public disagreement within the Federal Reserve over what it should do next. We have all that and more on the nightly Business Report for friday, october 17th. Good evening, everyone, and welcome. Rarely in recent years has the friday been so welcome on wall street. And this thankfully for the most part was a friday of healing for stocks after a week that laid bare practically every one of the markets vulnerabilities. Today, the Dow Jones Industrial average ended a sixday losing streak, a slide marked by the kind of turbulence that investors had not seen in years. It shot up, pushed by strong earnings, good Economic News and fierce rally overseas in european stocks. All 30 dow blue chips ended in the green, the nasdaq gained 40 s ps, fourth week in a row of losses, the dow fell a percent, the nasdaq down a half percentage point, the s p lost a percent. By the way, for the tenyear treasury it took a Magical Mystery Tour for its own this week before ending with a yield of 2. 2 , where
Substantial. The nasdaq composite is up half of 1 . The swing is not even 100 points. We started off in the red and now we are in the green. We got in home prices that rose the fastest in seven years. This group is doing really well. Kb homes up 7. 7 . We saw double digit Revenue Growth for kb homes. Back to you. Lori thank you, nicole. Gaining 12. 4 from a year ago. There are some concerns about the home price gains peaking. Adam news alert for you, Eric Schneiderman seeking the help of washington, d. C. To help prevent highfrequency traders from getting information earlier than the rest. They paid thompson and reuters for that information. Speaking at the bloomberg market, the attorney general had this to say. We are seeing something far more insidious than insider trading. Small coop of powerful groups inside the market are able to use soon to be Public Information combined with highfrequency trading. Adam he says regulators face several challenges tracking and preventing these. He
Today investors dont seem to care about that. Theyre happy with the results. The stock is moving, having its best day in two years. Well speak to a major shareholder and ask how long that will last. That 7 for 1 split i think a lot will agree is a move to make it more eligible to be a member of the Dow Jones Industrial average if they have a smaller stock price at that time. Later this hour well be joined by qualcomms brandnew ceo, his very First Television interview. Also etnas ceo mark bertolinp. Dunkin brand ceos. Weather was a problem. But people need coffee still in the bad weather. And the Union Pacific ceo, jack koraleski. And there are a lot of earnings after the bell. Mega earnings news continues. Amazon, starbucks, microsoft, visa, pandora, just to name a few of the names that we will be getting Earnings Reports. She may be small, folks, but shell have it all for you in this 4 00 hour. Weve got our reporters geared up, instant numbers, instant analysis, know how it affects yo
On everything from new products to potential acquisitions at his companys annual meeting. Well talk to a big investor who was there. All that and more tonight on nightly Business Report for friday, february 28th. Good evening, everyone. From the white house to wall street today, growing concerns about a possible showdown between ukraine and russia. Late today, president obama had strong words about whats at stake. Any violation of ukraines sovereignty and territorial integrity would be deeply destabilizing. The United States will stand with the International Community in affirming that there will be costs for any military intervention in ukraine. Earlier today on wall street, investors and traders were spooked on unsettling reports that russias foreign minister confirmed that thousands of heavily Armed Russian troops moved into ukraines crimea region, ramping up tensions between moscow and the interim government in kiev. Within minutes, a 126point gain in the dow vanished. But nearly a