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Daily Market Wrap: January 4, 2011
Wednesday, January 4, 4:01 PM ET

The markets tried to hold onto yesterday's gains, which proved to be a challenge after the return of worries over the European debt crisis.

On the economic front, the Mortgage Bankers Associatiion reported a 4.1 percent decline in mortgage applications in the last week of 2011.

Also in economic news, November saw a 1.8 percent increase in factory orders, thanks to more demand for airplanes.

Internet search engine Yahoo (NASDAQ:YHOO) will reportedly name PayPal President Scott Thompson as CEO.

Yahoo has been struggling with competition from newer companies, such as Google (NASDAQ:GOOG) and Facebook.

AT&T (NYSE:T) has settled a patent infringement dispute with Tivo (NASDAQ:TIVO). As part of the agreement, AT&T will pay Tivo a minimum of $215 million and additional monthly licensing fees.

Shares of Eastman Kodak (EK) are sharply lower today after news that the company could be preparing to file for bankruptcy.

This comes after a warning from NYSE that it could be kicked off the exchange, unless share prices pick up over the next 6 months.

Tomorrow, we'll take a look at the ADP Employment report, chain store sales, as well as earnings from Monsanto (NYSE:MON).

For Marketnewsvideo.com, I'm Sayoko Murase.

Daily Market Wrap: January 4, 2011 picture
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Daily Market Wrap: January 4, 2011 | Market News Video | Copyright © 2008 - 2014, All Rights Reserved

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