Thursday, October 28, 2010
Market Close Wrap-Up: October 28th, 2010
The major U.S. equity indices closed mixed Thursday despite a report from the Labor Department that found a decline of 21,000 in applications for jobless benefits to a seasonally adjusted 434,000 in the week that ended October 23rd. The figure is the second-lowest for first-time claims during 2010. In corporate news, Motorola, Inc. (NYSE:MOT) reported a Q3 net income of $109 million, or $0.05 per share, a significant jump from $12 million, or $0.01 per share in the year-ago period. Revenue for the quarter rose 6% year-over-year to $5.8 billion. Analysts forecast earnings of $0.12 per share on revenue of $5.66 billion. Colgate-Palmolive Co. (NYSE:CL) reported a Q3 net income boost to $619 million, or $1.21 per share, up from $590 million, or $1.12 per share in the year-ago period. Q3 sales fell 1.5% to $3.94 billion. FactSet Research analysts were looking for EPS of $1.19 with sales totaling $4 billion. The Dow Jones Industrial Average (DJI) closed 0.15% lower at 11,109.71, the S&P500 (INX) closed 0.10% higher at 1,183.67, and the Nasdaq Composite (IXIC) closed 0.16% higher at 2,507.37.
Mike Maloney - Gold should reach $15_000 oz!
Robert Kiyosaki, along with friend, and author of the Rich Dad Advisor Book, Guide to Investing in Gold and Silver, Mike Maloney, explains why gold and silver are vital investments for today's economy.
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