Trade Improves, Stocks Rally, Goldman Bonus Bust
In an unprecedented public relations move, Goldman Sachs announced that it will compensate its top performing executives via stock unable to be sold for 5 years in lieu of the traditional yearly cash bonus. Stocks rallied on a better than expected trade report and improved word from the employment front. The DJIA climbed +68.78 to 10405.83. the tech heavy Nasdaq pushed ahead by +7.13 to 2190.86 and the broad based S&P 500 added +6.40 to 1102.35
Coca Cola
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PowerRating): Shares climbed 1.26% or 73 cents to $58.57 after Costco agreed to settle a dispute and restock its shelves with the product.
ING Group
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PowerRating): Advanced 6.35% or 53 cents to $8.88/share upon being to added to Bank of America’s Europe 1 list.
Ciena
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PowerRating): Posted a greater than expected loss sending shares lower by 11.49% or $1.53 to $11.71.
Anadarko Petroleum
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PowerRating): Revealed a new discovery resulting in shares moving higher by 1.79% or $1.02 to $58.13.
Gold climbed by $5.50 to $1126.00, oil fell by 13 cents to $70.50 and the VIX fear index gave back another 1.50% to 22.32.
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