| Market Summary |
Markets shrugged off early morning bad news from Dell (DELL: Charts, News, Offers) to close a little bit higher Friday. While the personal computer giant reported earnings that disappointed analysts, shares of Microsoft (MSFT: Charts, News, Offers) added a brighter note after the company upped the ante on its stock repurchase plan. The company that Bill Gates built saw its shares up nearly 3%. Ford (F: Charts, News, Offers) announced that it would be closing ten of its facilities in its ongoing restructuring effort. The automaker expects production to fall by 21%. Altria (MO: Charts, News, Offers), known for its Philip Morris brand of tobacco, saw its shares jump 3.6% after the company was determined not to be financially liable for its recent court case involving racketeering.
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| Market News |
Wal-Mart Stores Inc. (WMT: Charts, News, Offers) is fighting battles on multiple fronts after posting its first quarterly profit decline in 10 years, and analysts question whether the world's largest retailer can regain the feverish growth rates of its past. (Source: Yahoo! Finance) Full Story
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Amazon (AMZN: Charts, News, Offers) may be giving a sneak peek at its plans for digital media.
The largest e-tailer has what appears to be a test page for a video download service on its Web site. The service, called Lumiere, is named after the early cinema pioneers Auguste and Louis Lumiere. (Source: The Street) Full Story
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Dell Inc. (DELL: Charts, News, Offers) on Thursday posted disappointing second-quarter earnings amid a regulatory probe. The company also announced an expanded partnership to put Advanced Micro Devices Inc. computer chips into a new line of Dell servers and desktop PCs as early as next month. (Source: MSNBC) Full Story
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| Market Analysis |
Worrying whether the folks at city hall short-changed the pension plan is becoming as popular as eating pie.
This once-dreary subject, formerly of interest to nobody but the analysts who rate municipal bonds, now is front-page news and fodder for the editorial page.
(Source: Bloomberg) Full Story
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Telecommunications and Internet companies accused of working with the Bush Administration's domestic eavesdropping program could be in for more legal headaches, after a federal judge ruled Thursday that the warrantless wiretaps violated the constitution.
(Source: BusinessWeek) Full Story
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As Google (GOOG: Charts, News, Offers) approaches its second anniversary of its initial public offering, much of the euphoria surrounding the search engine's stock is gone.
Sure, nearly every press release from the company or rumor of an upcoming product launch is met with breathless hype from the financial and techie media. But even though many reporters treat every new Google feature as the online equivalent of sliced bread, this has not translated to success on Wall Street in 2006.
(Source: CNN Money) Full Story
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| Market Overview |
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| DJIA |
11,381.47 |
+46.51 |
| S&P |
1,302.30 |
+4.82 |
| NASDAQ |
2,163.95 |
+6.34 |
| 10Yr |
4.835% |
-0.032 |
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| On This Date |
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| August 18, 1951: The U.S. Department of Commerce reports that the average American earned $1430 in the previous year, a record at that time. |
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| Notable Quotable |
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| Surplus wealth is a sacred trust which its possessor is bound to administer in his lifetime for the good of the community. - Andrew Carnegie |
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| Previous Newsletters |
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| August 17, 2006 |
| August 16, 2006 |
| August 15, 2006 |
| August 14, 2006 |
| August 11, 2006 |
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