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Fed reduced bond buys after seeing big job gains
Stock Market News |
2014/01/09 12:02
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The Federal Reserve agreed last month to modestly reduce its bond purchases because of improvements in the job market that many Fed members felt would be sustained.
Many participants called the job gains "meaningful," according to minutes of the Dec. 18-19 meeting that were released Wednesday.
Still, the minutes showed that some participants worried that investors might misread the move as a step toward raising the Fed's key short-term interest rate.
In response, the Fed said it plans to keep its short-term rate low "well past" the time the unemployment rate dropped below 6.5 percent, as long as inflation stayed low.
Some members wanted to lower that unemployment threshold to 6 percent. But the majority opposed doing so. They favored assessing a range of measures of the job market — not just the unemployment rate — in making any policy changes.
Analysts said the improving job market and better overall economic conditions apparently convinced the Fed that they could take a cautious first step toward trimming the bond purchases. |
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Stocks gain after manufacturing eases Fed concern
Stock Market News |
2013/06/03 14:14
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Investors judged that the latest weak economic reports will make it more likely that the Federal Reserve will continue to stimulate the economy and support a rally on Wall Street.
On Monday, a measure of U.S. manufacturing fell in May to its lowest level since June 2009 as overseas economies slumped and weak business spending reduced new orders to factories.
That helped convince investors that the Fed will hold off from slowing down its $85 billion bond-buying program. Speculation that the central bank was set to ease that stimulus, a major support for this year’s rally in stocks, has caused trading to become volatile in the last two weeks.
The Standard & Poor’s 500 index fell in the morning after the manufacturing report was published at 10 a.m. It moved between gains and losses for much of the day, then climbed decisively in the last hour of trading.
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The Rosen Law Firm Announces Securities Class Action
Stock Market News |
2012/10/13 09:44
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The Rosen Law Firm, P.A. today announced that a class action lawsuit has been filed on behalf of all persons or entities who purchased OCZ (OCZ) common stock or call options, or sold OCZ put options, between July 10, 2012 and October 10, 2012, inclusive (the "Class Period").
To join the OCZ class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The Complaint asserts violations of the federal securities laws against OCZ and certain if its officers and directors for issuing misleading financial information. Namely, the lawsuit asserts that OCZ: (a) was providing extraordinary customer incentives in excess of what was normal and customary in the past; and (b) improperly accounting for customer incentive programs. As a result, OCZ's financial results were misstated during the Class Period and the OCZ lacked adequate internal controls. The Complaint alleges that when this adverse information entered the market investors lost nearly half the value of their investment.
If you wish to serve as lead plaintiff, you must move the Court no later than December 10, 2012. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com.
www.rosenlegal.com.
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GlaxoSmithKline settles healthcare fraud case
Stock Market News |
2012/07/02 11:00
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GlaxoSmithKline Plc has agreed to plead guilty to misdemeanor criminal charges and pay $3 billion to settle what government officials said on Monday is the largest case of healthcare fraud in U.S. history.
The agreement, which still needs court approval, would resolve allegations that the British drugmaker broke U.S. laws in the marketing of several pharmaceuticals.
GSK targeted the antidepressant Paxil to patients under age 18 when it was approved for adults only, and it pushed the drug Wellbutrin for uses it was not approved for, including weight loss and treatment of sexual dysfunction, according to an investigation led by the U.S. Justice Department.
The company went to extreme lengths to promote the drugs, such as distributing a misleading medical journal article and providing doctors with meals and spa treatments that amounted to illegal kickbacks, prosecutors said.
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Facebook set to begin trading after $16B offering
Stock Market News |
2012/05/19 09:30
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Facebook is about to find out just how much status updates, puppy photos and billions of "likes" are worth on Wall Street, with CEO Mark Zuckerberg ringing the Nasdaq Stock Market opening bell Friday morning from company headquarters a continent away.
Trading of Facebook's shares has been delayed, but the company's stock was set to begin moving on the Nasdaq a day after the world's definitive online social network raised $16 billion in an initial public offering that valued the company at $104 billion.
The company's valuation is more than Amazon.com's and that of other well-known companies such as Kraft, Walt Disney and McDonald's. It's a big windfall for a company that began eight years ago with no way to make money.
Facebook priced its IPO at $38 per share on Thursday, at the top of expectations. Now, regular investors will have a chance to buy stock in Facebook for the first time. The stock will trade under ticker symbol will be FB.
Facebook has come to define social networking by getting 900 million people around the world to share everything from photos of their pets to their deepest thoughts.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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