Trading at Noon: Probe concludes Murdoch unfit for job
Tuesday, May 01, 2012 - 03:33
May 1 - A probe concludes Rupert Murdoch ''unfit'' to run News Corp and a roundup of corporate earnings.
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Okay. Australian media mogul Rupert Murdoch has been building an empire for over fifty years. But may now be unfit to continue. Not from a divided panel British lawmakers who have declared him unfit to run the company. Offering a long list of failings of the 81 year old following a phone hacking scandal. The committee that some of his company's minions and misled parliament investigation. Into the hacking. Nevertheless it may albeit tempest in the teapot players breaking views says this probably will not amount spent more than around on the novels for the Murdoch. And we're -- James has -- have been cleared of misleading parliament and report what went largely along party political lines. What this means for US probe into bribery and hacking allegations. By news or is unclear. Shares of new support reflecting a lack of concern well there -- -- -- US stocks are up today Green arrows across the board after data showed expansion in the manufacturing sector. Factory activity picked out in April to its highest level in ten months suggesting the economy has not lost momentum. Financials and energy sectors are leading the S&P 500 higher at this hour. US crude is up on this morning's economic data but pulled retreated from two week high at the dollar rallies. And treasury prices are firming up as fears of a faltering US economy debate away. Now for stocks to watch it let's go to employers corresponded Angela noon on the market. So the asset is up 1% this morning but shares of Blackberry maker -- is out nearly 3%. As the company launched its new platform at an annual conference. The market that that the new product was not as good as expected. And we've also got shares of -- change on our radar today they're up close to 30%. The Chinese restaurant chain that it will go pry that -- one point one billion dollar deal. Well Chrysler is Zune pass Ford and GM this morning when it reported its monthly car sales. The auto makers saw its best April performance in four years with sales rising 20%. Best sellers included the ram pick up Jeep Wrangler Chrysler 200 midsized sedan Ford sales stalled though down 5%. And GM also lagged behind what sales dropping 8% for the month. Shares of all three not mean much today. Some -- and misses from companies reporting results earlier today Avon badly in need of me got to hide the bruises from thinking else. On the steep hill also saw sales decline nearly 3.4 percent and shares of Pep Boys arts ain't even close to 23%. After barely made a profit. This quarter while also keeping an eye on Chesapeake Energy which it reports results of the bowel. To -- announced today that it removed it that it is removing the controversial Aubrey McClendon from the chairman role. And -- -- a Reuters report that McClendon had taken out as much as one point one billion dollars and personal loans. Using state and well collateral. Fast forward to tomorrow -- that Time Warner and CVS Caremark apart from reports that. That's all -- trading at -- I am putting mom this is Reuters.
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