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Author: Elena Todorova
123jump.com
Last Update: 12:44 PM EST March 16 2006
U.S. stocks advanced Thursday morning, boosted by benign inflation and housing starts data. Bear Stearns reported record-high Q1 profit of $3.54 per share, beating expectations. Revenue rose 18.9% to $2.19 billion. ConAgra Foods fell 6.8% due to a massive restructuring plan. The company also cut its quarterly dividend by 34%. Qualcomm rose 2% on upgrade at Merrill Lynch, while Ford Motor declined 1.1% on downgrade at J.P. Morgan. |
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