Stocks Surge on Wall Street
Stocks surged on Monday after Standard & Poor’s said it is not planning on downgrading the credit ratings of troubled bond insurers MBIA
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PowerRating) and Ambac Financial
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PowerRating). The Dow gained +189.20, the S&P 500 +18.69, and the Nasdaq Composite +24.13.
In deal news, Electronic Arts
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PowerRating) said that it would like to hold talks about a possible takeover of Take-Two Interactive Software
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PowerRating) (read more). Take-Two rejected a $2 billion takeover offer by EA yesterday.
Lowe’s Companies
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PowerRating) reported earnings of $0.28 per share, beating analysts’ predictions of $0.25 per share.
Nordstrom
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PowerRating) reported fourth quarter net earnings of $0.92 per share, compared to $0.89 per share a year ago and beating estimates of $0.88 (read more).
Human Genome Sciences
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PowerRating) net loss for the fourth quarter widened to -$0.69 per share from -$0.50 per share, worse than estimates of -$0.49 (read more).
LDK Solar
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PowerRating) reported net income of $0.44 per share for the fourth quarter, beating estimates of $0.41 (read more).
FirstEnergy
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PowerRating) reported earnings per share increased to $0.87, from $0.84 per share posted in the prior year quarter, but below estimates of $0.92 (read more).
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