Trading at Noon: Wall St. down on lost hope for stimulus
Wednesday, April 04, 2012 - 02:48
April 4 - U.S. stocks tumbled on waning hopes of Fed stimulus.
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US stocks are adding to losses today what is shaping up to be the worst state for stock in a month. It's red arrows all the way for the S&P the Dow and the NASDAQ after growth in US services sector declined in March with the gauge for new orders. Seeing a sizable drop. Earlier today an upbeat ADP jobs report did little to with stocks investors still focusing on the Fed's reluctance for further monetary easing. Commodity if there also -- selloff gold hit a three month low today reacting to that comment. And crude futures are slipping below the 100 day moving average. Right now we've got clocked in at 1017 yet -- laughter yeah I a data showed the largest -- we build up in more than a decade. Bond prices up slightly after today's -- and no shouts of joy at Yahoo! today -- search engine giant is expiring over 2000 employees -- 14% of its staff. New CEO Scott Thomson saying the goal of the shake up is to make -- smaller gambler and more profitable. Yahoo! which had 141000 employees at the end of last year we'll save. 370 million dollars annually from cuts right now we have shares of Yahoo! just about half of 1%. It's so whopper of a deal that will bring Burger King -- and YSE. Billionaire investor bill Blackman and team taking it 29% stake in the past -- change. Through his company justice holdings the deal gives Burger King enterprise value of eight billion dollars. More than double its valuation was taken private eighteen months ago. The new investor group thinks average price tag is deserves chain's profits are expected to almost double this year. From just two years ago. Now -- stocks to watch let's -- -- -- markets sports science correspondent Ryan Block delete. In company news SanDisk is following a day after indicated that we -- be hurting its revenue and margins but on the upside Starbucks is rising after positive commentary from Goldman Sachs. Which -- accompanied to his conviction violist. We're also watching shares of real estate giant Hovnanian right now they are off. More than seven and a half percent did announced proposed public offering of its class today comments. And finally the traditional gift for a first year anniversary is Paper. Not sure what that means exactly for Google's Larry Page as president today but there's certainly a lot of ink being billed as America's first you're returning to the account of the Internet giant. Under his watch it's been a mixed bag he successfully oversaw the launch of Google+ and it held on -- talent. But the stock has been an actor performer up roughly 10% over his term. Microsoft fare better under his watch as did the NASDAQ. On the upside Google's done better than Yahoo! and the S&P like that. It's been an -- and that's it for trading at noon I'm Jen -- this is -- --
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