|
Many of his firm's customers are seeking higher-risk investments with higher potential returns, Logan said
-- an indication that stocks may keep rising. The U.S. job and housing markets continue to improve gradually, according to economic reports released Thursday morning. The Labor Department said the number of people claiming new unemployment benefits last week was roughly flat near a five-year low. Sales of existing homes rose in February to a three-year high, according to the National Association of Realtors. The yield on the 10-year U.S. Treasury note fell to 1.92 percent from 1.96 percent earlier Thursday as demand increased for ultra-safe investments. In the tumbling tech sector, Oracle fell $3.47, or 9.7 percent, to $32.30. Juniper dropped 42 cents, or 2.2 percent, to $18.89. Cisco list 83 cents, or 3.8 percent, to $20.84. H-P declined 60 cents, or 2.6 percent, to $22.32. And IBM declined $2.80, or 1.3 percent, to $212.26. Outside of technology, here are some stocks that made big moves: Struggling drug company AstraZeneca jumped after saying it would cut 2,300 more jobs worldwide and overhaul its research operations. That brings to 11,000 the number of job cuts announced in the past 13 months. Shares rose $1.77, or 3.8 percent, to $47.95. Publisher Scholastic Corp. plunged after shrinking demand for its best-selling "The Hunger Games" books forced it to cut its guidance for the year. The company's fiscal third-quarter loss nearly doubled. Shares fell $4.32, or 13.9 percent, to $26.75. Movado Group Inc. dropped after the luxury watchmaker said its fiscal fourth-quarter net income fell 26 percent. The stock dropped $3.89, or 10.5 percent, to $33.23.
[Associated
Press;
Copyright 2013 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 This material may not be published,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