At least four brokerages slashed their price targets on Research in Motion's U.S.-listed stock after the BlackBerry maker warned of lower profit amid falling sales and an inventory pile up of its PlayBook tablet.
Western Digital Corp. (NYSE: WDC), on Thursday, provided an update on its financial outlook for the December quarter and the progress to date of its recovery effort in Thailand. Barclays Capital raised its price target on shares of Western Digital to $40 from $35, while reiterating its overweight rating.
As macroeconomic developments helped boost stock prices on the one hand, comments from central bankers, politicians and others, on the other hand, dampened the party in the equities market.
Bank stocks finished up one of the best-performing weeks of the year Friday, as a global coordinated stimulus by the world's top central bankers announced Wednesday injected some badly needed liquidity into the credit markets and signaled a willingness for future intervention if the going gets tougher.
As banks around the world race to satisfy international capital requirements, they are going through a veritable fire sale, getting rid of non-core businesses no matter how much they will fetch. Beyond that, they are engaging in some odd transactions, including a substantial amount of balance sheet engineering.
European shares rose on Friday, recording their biggest weekly gain since late 2008, on hopes Eurozone leaders were coming together to find a solution to the Eurozone debt crisis.
European shares fell in choppy trade on Thursday after data showed new U.S. claims for unemployment benefits rose unexpectedly last week, with some investors booking profits after equities jumped 9 percent in the previous four sessions.
Getco LLC, an electronic market maker and high-frequency trading specialist, on Wednesday said it agreed to buy Bank of America Corp's floor-trading operations at the New York Stock Exchange, significantly expanding its market-making operations.
NEW YORK, Nov 30 - Facebook games developer Zynga Inc is seeking a lower-than-expected $10 billion valuation for its initial public offering, which is to be priced on December 15, two people close to the process said on Wednesday.
Zynga is expected to price its shares on December 15 in one of the most highly anticipated IPOs of the year.
China's central bank cut the reserve requirement ratio for its commercial lenders on Wednesday for the first time in nearly three years to ease credit strains and shore up an economy running at its weakest pace since 2009.
Barclays Capital said its checks indicate that sales over Black Friday and Cyber Monday were quite solid for Apple Inc., largely in line with its expectations.
Stock index futures pointed to a weaker open for equities on Wall Street on Wednesday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 down 0.4-0.7 percent.
Stocks fell and the euro weakened Wednesday after Standard & Poor's hit some of the world's leading banks with a credit downgrade and euro zone leaders' move to ramp up the regional bailout fund drew a tepid response.
Asian shares and the euro extended a rally into a second day Tuesday as investors were buoyed by expectations that European policy makers will outline details of how they will leverage a bailout fund to avert contagion in sovereign debt markets.
The Department of Justice has opened a probe into the $4 billion takeover of Del Monte Corp by private equity investors led by KKR and Co (KKR.N), according to court papers regarding an investor settlement over the transaction.
Gold prices will climb to $1,875 per troy ounce this month and to an average of $2,000 next year, Barclays Capital Research said Monday in a report.
Online gaming firm Nexon Co said on Monday it would raise up to 98 billion yen ($1.3 billion) in an initial public offering this month, pushing ahead with its planned listing even as a massive hacking attack threatens to dampen excitement for the stock.
LONDON, Nov 25 - European companies are in for a tough time next year. The euro zone debt crisis is sparking caution on all fronts, as consumers keep their cash in their pockets, corporate treasurers take a knife to investment plans and investors desperately seek a haven for their wealth.
Unnerved by a second profit warning in a month, investors sent HTC Corp shares tumbling for a second straight day on Friday on concern the world's No.4 smartphone maker may be running out of ideas in an increasingly competitive market.
Apple Inc.'s customers were able to get $101-off on MacBook Pro, MacBook Air and iMacs, $41-off on the first-generation iPad, $21-off on the iPod touch and $11-off on the iPod nano for Friday. This is unchanged from the deals announced last year.
Barclays Capital said its research still points toward Apple Inc. continuing to innovate in the iPad category with an iPad 3 launching in the March 2012 timeframe with an HD screen, Siri integration and a faster processor.
