This Day On The Street
Continue to site
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

Business Highlights

NEW YORK (AP) â¿¿ Sprint Nextel has offered to buy out the minority shareholders of Clearwire for $2.1 billion in a deal that would give it total control of the struggling company and also more space on the airwaves for data services.

Sprint said in a regulatory filing Thursday that it's offering $2.90 per share for the 49 percent of the wireless network operator that it doesn't already own.

Clearwire's board hasn't approved the sale, but said it's in discussions with Sprint. Clearwire shares jumped 15 percent to $3.16, suggesting that investors believe a better offer may be coming.

___

Weekly US jobless aid applications drop to 343,000

WASHINGTON (AP) â¿¿ The number of Americans seeking unemployment benefits fell sharply for a fourth straight week, a sign that the job market may be improving.

The Labor Department said Thursday that weekly applications for unemployment benefits fell 29,000 last week to a seasonally adjusted 343,000, the lowest in two months. It is the second-lowest total this year.

Applications are a proxy for layoffs, so the drop indicates that companies are cutting fewer jobs. But employers also need to step up hiring to rapidly push down the unemployment rate.

___

By The Associated Press(equals)

The Dow Jones industrial average finished down 74.73 points, or 0.6 percent, to 13,170.72. The Nasdaq composite index dropped 21.65 points to 2,992.16. The Standard & Poor's 500 index dropped 9.03 points, or 0.6 percent, to 1,419.45.

Benchmark crude lost 88 cents to end at $85.89 per barrel in New York. Brent crude, used to price international varieties of oil, finished down $1.56 at $106.46 a barrel on the ICE Futures exchange in London.

Heating oil fell 2 cents to end at $2.94 a gallon. Natural gas lost 4 cents to finish at $3.35 per 1,000 cubic feet. Wholesale gasoline fell 4 cents to end at $2.60 a gallon.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
4 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
Only $9.95
14-Days Free
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 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs