2012 Stock Predictions and Outlook
|Your one-stop shop for 2012 stock recommendations and market predictions. |
"We have the conditions and capabilities, and will be sure to fulfill this year's economic and social development targets," said Wen. September crude oil futures rose $1.27 to settle at $95.60 a barrel and December gold futures closed up $12.60 at $1,619.20 an ounce. The benchmark 10-year Treasury was down 7/32, lifting the yield to 1.844%. The greenback was down 0.35%, according to the dollar index. On the corporate front, Facebook ( FB) shares surrendered 6.2% on more than double the average daily volume after the expiration of rules restricting early investors from reducing their stakes in the company. Coinstar ( CSTR) shares were popped 7.6% after the New York Post reported that the parent of the beleaguered movie-rental-kiosks company Redbox has been exploring the idea of selling itself to an unidentified private-equity firm for months now. The New York Post also reported that private-equity firms KKR and Providence Equity Partners have approached Electronic Arts ( EA) as the video-game maker explores the sale of the company in the face of growing competition from free online gaming sites. Shares rose 5.5%. Idenix Pharmaceuticals ( IDIX) shares plummeted 29.7% after the company said that its clinical study of the potential hepatitis C virus treatment IDX184 has once again been partly halted by the U.S. Food and Drug Administration, citing the potential for heart-linked side effects. Sears Holdings ( SHLD) reported that its loss narrowed in the second quarter thanks to cost cuts and leaner inventory levels. Shares gained 6.5%. NetApp ( NTAP), the storage and data management technology company, beat Wall Street's expectations for its fiscal first quarter and gave a solid outlook. Shares closed up 3.8%.
-- Written by Andrea Tse in New York. >To contact the writer of this article, click here: Andrea Tse.