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NEWS
October 12, 1998 | by Frank Dougherty, Daily News Staff Writer
If all the Beanie Babies currently were on a cruise together, it would be aboard a liner that just struck an iceberg the size of the one that doomed the Titanic, says a leading collectibles expert. "The ship is slowly sinking on Beanie Babies. A year from now there will be no Beanie Babies market, except for one in its last stages of life," says Harry L. Rinker, publisher of "Harry L. Rinker: Official Guide to Collectibles. " "Unload them if you have them. After that, buy a crying towel," he advises collectors of these trendy plush toys.
NEWS
August 12, 2011 | ASSOCIATED PRESS
NEW YORK - Wall Street's wildest week since 2008 careened into another 400-plus point move for the Dow yesterday. This time, stocks shot up after investors saw small signs that the economy might not be headed into another recession. Fewer Americans joined the unemployment line last week, and a technology bellwether said that revenue could grow faster this quarter than analysts expected. The news pushed prices on long-term Treasuries down, and gold fell from its record high. The Dow Jones industrial average rose 423.37 points.
BUSINESS
July 28, 2012 | By Christina Rexrode, Associated Press
NEW YORK - Faced with Facebook, Starbucks and Angela Merkel, the market chose to focus on Merkel. For a second day, the U.S. stock market powered higher after European leaders, including German Chancellor Merkel, pledged to protect the union of 17 countries that use the euro. The Dow Jones industrial average blew past 13,000, a marker that it hadn't hit since early May. It wasn't that there weren't troubling signs about the economy. In fact, they abounded: U.S. economic growth was anemic in the second quarter.
NEWS
January 24, 1990 | Daily News Wire Services
President Bush said today the United States remains the best place for investment despite signs of weakness in the economy and attractive interest rates abroad. "I think people see the United States still, regardless of what's temporary out there, as the safest haven for investment anywhere in the world," Bush told a news conference amid news that stock prices were tumbling across the world and fears of another drop in U.S. markets today. The Dow-Jones Industrial Average was falling in opening trading even as Bush spoke.
NEWS
April 30, 1987 | By David M. Giles, Inquirer Staff Writer
At Hatboro-Horsham High School, some students have made a killing on the stock market. "We have made almost $8,000 in nine weeks," boasted Tammy Schmitt, a member of a ninth-grade group. "We bought Amoco stock at $72 and sold it at $84," said Mike Lassoff, a member of a second group of ninth graders. Too bad it was only a game. The 10-week game, which ends today, was called - appropriately enough - The Stock Market Game. It was all part of a plan by Hatboro-Horsham social studies teachers Dan Maley and Tom Richards to teach their ninth- and 12th-grade social studies classes how to buy and sell stocks and how to calculate interest rates and brokers' fees.
NEWS
September 1, 1998
So Wall Street laid an egg yesterday, to paraphrase Variety's famous headline on the 1929 stock market crash. Don't panic. It wasn't that bad, and if you read, watch or listen to financial news, you knew that some kind of major, ahem, correction was expected. Still, far more Americans than ever before are invested in stocks these days, especially because of the rise of individual-directed retirement plans such as the 401(k). So the lessons that longtime and long-term investors learn are new to many, at least emotionally.
BUSINESS
November 2, 1987 | Daily News Wire Services
The shell-shocked stock market basked in relative stability this morning after two disastrous Mondays, and the volatile Dow Jones industrial average stayed within a narrow range. The key index of the nation's 30 prime industrial corporations fell more than 20 points at the opening but quickly recouped and flirted with the 2,000 level. By noon the Dow Jones average totaled 1,996.02 up 2.48 with a volume of 115,702,220. Broader market barometers were mixed. Market analysts said the market mood remained cautious but appeared to be improving, marked by the slow return of large institutional investors who had panicked after the historic Oct. 19 crash.
BUSINESS
January 2, 1987 | By Andrea Knox, Inquirer Staff Writer
Stocks and bonds turned in another banner year in 1986, with the stock market up about 20 percent and many bonds providing investors with total returns of 10 percent or more. Can they do it again in 1987? Probably, say investment advisers. Although there are more clouds on the horizon than there were at this time last year, and a few strategists are waving yellow caution flags, the consensus is that the savvy investor stands to make a chunk of money this year. Two big questions hang over the investment outlook for the year: After four years of a bull market, how much longer and how much further can stock prices rise?
BUSINESS
March 12, 2004 | By Todd Mason INQUIRER STAFF WRITER
A jobless recovery lit rockets under the stock market exactly a year ago. Profits soared as corporations filled more orders with fewer bodies on the payroll. Today, those missing jobs weigh heavily on the stock market. Investors wonder who will buy cars, and computers, and airline tickets if the job market does not pick up. "You have to be careful what you wish for," John P. Waterman, chief investment officer of Rittenhouse Asset Management, of Radnor, said yesterday. "Consumer spending is two-thirds" of the economy.
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BUSINESS
May 24, 2016 | By Erin E. Arvedlund, Staff Writer
Robert Johnson attended Warren Buffett's most recent Berkshire Hathaway shareholders meeting, and on the flight out to Nebraska he was pleasantly surprised to learn that the book he had authored, Strategic Value Investing , had landed on the Oracle of Omaha's recommended-reading list. Credentials established, Johnson, who is also the president of the American College of Financial Services in Bryn Mawr, gave us his outlook on which sectors of the economy might come out ahead under a President Trump, and which under a President Clinton.
BUSINESS
April 18, 2016 | By Jane M. Von Bergen, Staff Writer
What a year it was - and will be for - David L. Richter, 49, chief executive of Hill International Inc., the Philadelphia-based construction project and claims management company. (It had the contract for the first Comcast tower and is now overseeing construction at the new state prison in Graterford.) Hill reported record 2015 revenues of $720.6 million, up 12.3 percent. Profits rose to $6.9 million, up from a $6.1 million loss. Yet they would have been higher had not the depression in oil prices sliced $3.4 million from the net in bad debt expenses from clients in the Middle East, where Hill gets about 45 percent of its revenues.
BUSINESS
February 9, 2016
There are few signs of an impending recession. So why is everyone using the "R" word? Wall Street's thinking goes like this: Flat returns in the stock market make it harder for the Federal Reserve to raise interest rates, and in turn, the Fed's lack of action concerns investors about U.S. economic expectations. That's the feedback loop, as explained by local strategists and money managers. Guy LeBas, fixed-income strategist at Janney Montgomery Scott in Center City, dove into the details.
NEWS
January 17, 2016
THE STOCK market capped the first two weeks of 2016 with a steep slide Friday that sent the Dow Jones industrial average down nearly 400 points. All three major stock indexes - the Dow, the Nasdaq composite and the Standard & Poor's 500 - are now in what's known as a correction, or a drop of 10 percent or more from their recent peaks. The market has been on a stomach-churning ride since the start of the year, wrenched up - but mostly down - because of alarm over a slowdown in China and the plunging price of oil to its lowest level in 12 years.
NEWS
January 8, 2016 | $util.encode.html($!item.byline), $util.encode.html($!item.bycredit)
NEW YORK - There's no reason for panic. Worry, yes, but not panic. That was the opinion of some U.S. investment strategists after another free-fall on China's main stock market reverberated around the globe yesterday and sent the Dow Jones average to a loss of nearly 400 points. Stock prices in China fell so fast that for the second time in four days, circuit-breaker mechanisms kicked in and halted trading, this time after just 30 minutes. China's tumbling stock prices are, in themselves, nothing for investors outside the country to panic over.
BUSINESS
January 2, 2016 | By Harold Brubaker, Staff Writer
As the epidemic of addiction to prescription pain medications gained ever more national attention last year, a Wayne drug firm developing painkillers designed to be less prone to abuse had the best-performing stock in the Philadelphia region. Shares of Egalet Corp., which employs 50 locally, soared 94 percent, to $11.02 from $5.59. Egalet generated its first revenues, from licensed products, in 2015 and applied last month for Food and Drug Administration approval of a morphine tablet that can't be chewed or crushed and snorted, which is one way addicts get a quicker high.
BUSINESS
January 1, 2016 | By Joseph N. Distefano, Staff Writer
Billionaire investor Carl Icahn's investment firm and Philadelphia-based Pep Boys - Manny, Moe & Jack said Wednesday that they had reached a deal in which Icahn will buy the iconic but profit-challenged 801-store auto parts, tires, and repair chain for $1 billion, or $18.50 a share. The cash price is $3.50 a share, or about $150 million, more than Japan-based tire giant Bridgestone agreed to pay for Pep Boys in October. It is also double what Pep Boys was worth on the stock market last spring, before New York investor Mario Gabelli, whose specialties include auto-related stocks, forced Pep Boys to put three of his allies on its board and pressured the company into promising to look for a buyer.
NEWS
November 21, 2015 | By Marley Jay, ASSOCIATED PRESS
NEW YORK - The stock market closed out its best week of the year Friday, as big gains by retailers and technology companies pushed major indexes upward. Stocks faded as Friday wore on, but still finished higher. The S&P 500 index climbed almost 3.3 percent this week. By just a hair, that was its biggest weekly gain in 2015. Stocks climbed Monday and Wednesday as the U.S. market did not seem to be affected by a string of unsettling international events, including last week's terrorist attack in Paris.
NEWS
August 27, 2015
A NEWSCASTER broke into the regularly scheduled program with breaking news: The Dow Jones industrial average was down more than 1,000 points. The network began showing frenzied people on the floor of the New York Stock Exchange. As each image flashed across the screen, I became more fearful. Despite a parade of experts brought on to tell me that I shouldn't panic, my pressure began to rise. So I raced to talk to my husband in the next room. "Honey, have you seen the news?" I screeched.
BUSINESS
July 10, 2015 | By Joseph N. Distefano, Inquirer Staff Writer
Since June 12, the Shanghai Composite Index, the leading Chinese benchmark for stocks, has lost a third of its value, including a 6 percent drop Wednesday that shook global markets. "The number of people involved in the decline may total in the tens of millions. Some of them probably lost their life savings," said stock market scholar Jeremy Siegel, a finance professor at the University of Pennsylvania's Wharton School. "It's very much like a market in a bubble. " China's stocks are back to the levels of last spring, so many longtime investors are not feeling absolute pain yet, Siegel added.
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