GOOG 464.19 -22.25 -4.57%
FWLT 67.26 -11.90 -15.03%
DRYS 79.21 -5.57 -6.57%
2/26/2008 3:31 PM
Weak confidence, PPI jump stoke U.S. stagflation fear
The outlook of U.S. consumers sank to a 17-year low this month as the job market deteriorated, while costly commodities drove producer price inflation in January to its highest in more than 26 years, according to reports that stoked fears of stagflation.
Home prices plunge at record rate in 2007: S&P
Dow up 115 as stocks rise for a third day
IBM's big stock buyback and earnings guidance give most techs a boost
Google falls after analyst cuts price target
Google shares tumbled more than $22 to $464.19 today after a UBS analyst chopped his price target on the online-search giant to $590 from $650.
"A reset of near-term investor expectations as well as continued bearish sentiment may mean the ride is bumpy over the next few months," analyst Benjamin Schachter wrote in a note to clients today.
The number of paid ads viewed on Google fell 12% from the previous quarter, according to online research company ComScore. Google is down 33% this year. Since the stock hit an intraday high of $747.24 on Nov. 7, the stock has fallen about 38%.
Foreclosures jump; home prices fall
housing market continued to plague struggling homeowners.
The number of foreclosures soared 57% in January from year-ago data, according to online foreclosure tracker RealtyTrac. The number of properties that filed for some stage of foreclosure jumped to 233,001 last month, an 8% increase from December, RealtyTrac said.