Enter your email address:

Wednesday, November 10, 2010

Market Close Wrap-Up: November 10th, 2010

"The major U.S. equity indices closed higher Wednesday, as crude oil futures settled at a two-year peak. Crude for December delivery gained 1.3% at $87.81 per barrel on the New York Mercantile exchange.

Currency wars raged on as economic leaders met in Asia to try to maintain the global economic state. The two-day Group of 20 summit in Seoul, South Korea aims to hash out ways the world's leading economies can prevent another financial meltdown.

In corporate news, Greenbrier Cos. (NYSE:GBX) reported Q4 revenue of $181.4 million, down from $230.4 million in the year-ago period. Net earnings for the quarter rose from $6.1 million, or $0.33 per share, in the year-ago period, to $7.7 million. EBITDA was $15.5 million, a decline from $23.7 million in Q4 2009.

Google Inc.'s (NASDAQ:GOOG) chief executive Eric Schmidt said via email that all 23,000 of Google's worldwide employees will receive a 10% raise and a $1,000 bonus, in a bid to keep employees from branching out to work for the tech giant's competitors, like Facebook, which currently employs 10% of Google's former staff. Google will reportedly pay income taxes on the $1,000 bonus, as well.

The Dow Jones Industrial Average (DJI) closed 0.09% higher at 11,357.04, the S&P500 (INX) closed 0.44% higher at 1,218.71, and the Nasdaq Composite (IXIC) closed 0.62% higher at 2,578.78."

Popular Posts