Markets Rally to Close the Week Green
The major U.S. indexes rallied today, spurred on by positive reports about
bond insurers and a major M&A offer for Yahoo. The rate cuts seemed to have
eased traders’ worries for the time being, as the week ends cleanly in the
green.
Microsoft
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for $44.6 billion, which was well above YHOO’s share price before the bell rang
this morning. MSFT fell around 7%, while YHOO jumped around 50% (full
story).
Medtronic
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FDA had approved a new coronary stent to treat coronary artery disease (full
story).
Google
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quarterly profit.
Ambac
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following a CNBC report that several banks have formed a “consortium” to deal
with bond insurer problems.
Gold fell 1.6% today, as the dollar rebounded against the euro on a positive
U.S. manufacturing report. Crude oil futures dropped around 3% following a jobs
report that was weaker than expected.
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