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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Business Highlights

___

UN agency: Global food prices up sharply in July

ROME (AP) â¿¿ International food prices rose sharply in July after three months of decline, driven by a spike in grain and sugar prices, a United Nations report said Thursday.

Severe drought gripping the U.S. Midwest has sent corn prices soaring by almost 23 percent and expectations of worsened crop prospects in Russia because of dry weather sent world wheat prices up 19 percent.

The U.S. is the world's No. 1 exporter of corn, soybeans and wheat and the price hikes are expected to be felt across the international marketplace, hurting poor food-importing countries, according to a study by British charity Oxfam.

___

E-Trade ousting its CEO; naming chairman to post

NEW YORK (AP) â¿¿ E-Trade Financial has ousted its CEO, Citigroup veteran Steven Freiberg, just two years into a four-year contract as the online broker deals with declining trading.

The company said Thursday that it's looking for a new CEO as it adjusts its business strategy, which is focused on strengthening its financial position. It named its chairman to the top spot until a permanent replacement can be found.

E-Trade has been struggling as individual consumers pull money out of the stock market. The New York company's net income dropped 16 percent in the April-June quarter as investors made far fewer trades than a year ago. Faced with less trading activity, E-Trade said it was focusing on managing costs and dialing back on risk to strengthen earnings.

___

JPMorgan revises 1Q profit down amid trading probe

NEW YORK (AP) â¿¿ JPMorgan Chase on Thursday formally revised its first-quarter financial results to show a lower profit, after finding that traders at its main investment arm had overstated the value of certain derivatives.

The reduction followed the bank's internal investigation into the nearly $6 billion in trading losses revealed in recent months.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

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