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

___

US budget deficit grows by $260 million in December

WASHINGTON (AP) â¿¿ The U.S. annual budget deficit is on track to reach $1 trillion for a fifth straight year, though government revenue jumped last month as people paid some taxes early to avoid higher rates in 2013.

The Treasury Department said Friday that the federal deficit grew by just $260 million in December. But for the first three months of the budget year, the deficit widened to $292 billion.

In December, tax revenue rose 12 percent to $270 billion. Spending fell 17 percent to nearly the same amount.

___

USDA: Drought cut corn crop by about one-fourth

DES MOINES, Iowa (AP) â¿¿ For farmers like Earl Williams, last year couldn't have started out better or ended much worse as a warm, sunny spring that let him plant early gave way to record heat and drought that devastated his corn.

Williams ended up with about two-thirds of the crop he expected, and a Department of Agriculture report released Friday showed most corn farmers didn't fare much better. The final report on the 2012 growing season showed farmers harvested 10.78 billion bushels of corn, less than three-fourths of what the agency predicted last spring.

While the report covers many other crops, much of the attention has been on corn, which is widely used as an ingredient in many foods, provides feed for livestock and is mixed with gasoline as ethanol. The crop also was the hardest hit by the drought that settled in just as the plants were maturing.

___

Merck warns docs to stop prescribing Tredaptive

Drugmaker Merck & Co. is suspending its sale of the cholesterol drug Tredaptive after initial results from a study showed that it wasn't effective and could raise the risk of some serious side effects.

The Whitehouse Station, N.J., company said Friday it is telling doctors to quit prescribing the tablets, which are not approved in the U.S., and it also is advising patients to stop taking the medication only after talking to a physician.

3 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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