Midday movers: Staples, Deere, Abercrombie
Stocks move in a narrow range, little affected by the day's slew of economic reports.
Standard Chartered (SCBFF) reached a $340 million settlement with the New York Department of Financial Services and was then upgraded to "buy" at Nomura and at BofA/Merrill.
Carl Icahn wins one seat on the Forest Labs (FRX) board.
Carlyle Group (CG) emerged as the winning bidder for Getty Images for $3.3 billion.
Wal-Mart (WMT) de Mexico said it is not aware it is being investigated by local authorities for money laundering or fiscal evasion.
Goldman Sachs (GS) plans to eliminate 20 to 30 jobs in its sales and trading division this week.
Among the notable gainers were JDSU (JDSU), after it reported better-than-expected Q4 earnings report; and Abercrombie & Fitch (ANF), after it gave an encouraging FY12 outlook and raised its share buyback program by 10 million shares.
Noteworthy losers included Staples (SPLS), after it reported disappointing Q2 earnings and assumed slower growth in the U.S. and European economy; and Deere (DE), after the company's Q3 earnings fell below expectations and it cut its full-year outlook.
WASHINGTON (AP) — The recession that ended three years ago this summer has been followed by the feeblest economic recovery since the Great Depression.
Since World War II, 10 U.S. recessions have been followed by a recovery that lasted at least three years. An Associated Press analysis shows that by just about any measure, the one that began in June 2009 is the weakest.
The ugliness goes well beyond unemployment, which at 8.3 percent is the highest this long after a recession ended. Economic growth has never been weaker in a postwar recovery. Consumer spending has never been so slack. Only once has job growth been slower.
YUP...all you media "spin doctors" and "financial gurus"...just keep telling the gullible public how great things are. The truth.....the economy sucks and will for a long, long time. The only reason the stock market is up is due to infusion of printed money, manipulation and greed.
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The apparel chain takes a hard hit after blaming the weather for its quarterly sales decline. But cold temperatures don't explain the drop in full-year sales as well.
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