Stocks Rise, Countrywide Saved?
Stocks rose on Thursday, boosted by news that Bank of America is in talks to acquire Countrywide Financial. The Dow rose +117.78 points, the S&P 500 +11.20 points, and the Nasdaq Composite +13.92.
The Wall Street Journal reported Bank of America
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PowerRating) is in advanced talks to buy Countrywide Financial
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PowerRating) (read more). CFC shares closed up 51%, after rising 74% intra-day, while BAC shares rose 1.45%.
Shares of Wal-Mart
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PowerRating) rose 3.50%, after the company said same-store sales rose 2.4% in December and reiterated its Q4 guidance (read more).
Target
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PowerRating) reported a 5% drop in December same-store sales (read more). TGT shares fell nearly 1%.
Meanwhile GameStop
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PowerRating) reported a 20% jump in same-store sales, and a 34.7% increase on a year ago (read more). The company also raised its Q$ and full year outlook. Despite all the apparent good news, GME shares fell 5.15%.
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