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.
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:
For Marketnewsvideo.com, I'm Sayoko Murase.
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Daily Market Wrap: January 4, 2011
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