Breaking News Bar

Business News and Information

Opening Bell Report

The markets opened higher as investors mulled over the latest combination of modest wholesale inflation numbers and slow retail sales. The Dow added 25 points to 13,332 while Nasdaq rose 4 points to 2677.

On the upside

Bear Stearns (NYSE: BSC) wrote down another $1.1 billion in subprime-related losses, but investors were hopeful that the latest move would stabilize the investment bank's portfolio.

Shares of E-Trade (Nasdaq: ETFC) continued to rebound on rumors that it may be acquired by a large banking institution. (Nasdaq: BIDU) whose shares had been experiencing volatile price swings was upgraded by an analyst for its discounted valuation.

On the downside

Mylan (NYSE: MYL) announced the placement of $4.1 billion in debt to acquire Merck.

Cerberus Capital Management and United Rentals (NYSE: URI) extended the deadline for its debt tender offer to November 16 selling $2.55 billion in high-yield notes to fund the acquisition of the equipment rental company.

Greek drybulk shipper Excel Maritime Carriers (NYSE: EXM) reported profits that doubled, but failed to meet analysts' estimates.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 792.

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
bottom clear