Stocks Sink in First Week of 08
Stocks tumbled on Friday after a much weaker than expected jobs report triggered fears the U.S. economy will slip into recession. The Dow lost nearly 2%, the S&P 500 lost 2.5%, and the Nasdaq lost nearly 4%, with credit market jitters also weighing on investors.
Non-farm payrolls rose 18,000 in December, the worst report in more than four years, and the unemployment rate rose to 5%, from 4.7% last month.
The Iowa caucus took place last night, with two big winners emerging – Barack Obama and Mike Huckabee.
AZZ Inc.
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PowerRating) was the second biggest gainer on the NYSE today, after the company reported Q3 net profit rose, and increased FY08 guidance (read more).
PetroChina
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PowerRating) rose after the company was upgraded by Goldman Sachs (read more).
Wendy’s
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PowerRating) reported same-store sales were weak in Q4 (read more), while Sonic
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PowerRating) reported strong Q1 results (read more).
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