|
The stock market took a beating this week as the U.S. corporate earnings season got off to a weak start and Europe stumbled along in its latest attempts to resolve the region's debt crisis. In other trading, the Standard & Poor's 500 index rose 22.02 points to 1,356.78 and the Nasdaq composite gained 42.28 points to 2,908.47. Among other stocks making big moves: Procter & Gamble rose 2 percent after reports emerged that board members of the consumer products giant are considering the removal of Chief Executive Officer Robert McDonald. On Thursday the Federal Trade Commission cleared activist investor William Ackman's hedge fund to make an investment in the company, whose many products include Tide, Bounce and Duracell. P&G rose $1.39 to $65.09 and gained 6 percent for the week. Lexmark International plunged 16 percent. The printer maker warned late Thursday that it fared worse during the second quarter than expected, a result of slowing business spending. Its stock fell $3.95 to $20.36. Phillips 66 jumped 6 percent, following news that Warren Buffett said Berkshire Hathaway has invested in the refining company. The stock rose $1.93 to $34.94.
[Associated
Press;
Copyright 2012 The Associated
Press. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor