This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Business Highlights

Stocks in this article: GOOG MMI MS MSFT VZ

The Associated Press

___

Morgan Stanley closes a bleak bank earnings season

NEW YORK (AP) â¿¿ It's tough being a big bank these days.

Morgan Stanley, the storied investment house, reported Thursday that its revenue was down sharply from April through June and its profit missed Wall Street expectations. Its stock was clobbered â¿¿ closing down more than 5 percent.

The report capped a dismal season for the banking industry. This spring was marked by choppy financial markets, concern about the world economy, awkward adjustments to new regulations and one scandal after another.

Of the country's six megabanks only Wells Fargo, which brags about relying on plain-vanilla ways of making money, like taking deposits and making loans, was able to pull in more revenue than it did a year ago.

___

Middle East turmoil pushing oil price higher again

NEW YORK (AP) â¿¿ Rising tensions in the Middle East have pushed oil prices up 19 percent over the past three weeks and are resulting in a rise in gasoline pump prices.

Since the start of July, average gasoline prices in the U.S. have climbed 11 cents to $3.44 per gallon. Pump prices are expected to creep higher in the coming weeks, and they aren't likely to fall back to their June low of $3.33 for the rest of the summer, analysts say.

Crude rose $2.79, about 3 percent, to $92.66 per barrel Thursday, its highest level since mid-May. The price has risen $15 per barrel since June 28, when oil hit a low of $77.69.

___

US jobless claims rise to 386,000 on seasonal factors

WASHINGTON (AP) â¿¿ The number of Americans seeking unemployment benefits rose by 34,000 last week, a figure that may have been skewed higher by seasonal factors.

Applications for benefits increased to a seasonally adjusted 386,000, the Labor Department said Thursday. The gain followed a drop of 24,000 the previous week and was the biggest jump since April 2011.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs