Author: 123jump.com Staff
123jump.com
Last Update: 12:52 PM EST December 20 2007
U.S. stocks traded sideways as the credit market worries dominated the earnings news in the morning. Bear Stearns reported its first quarterly loss in nine decades on higher mortgage market related lossed. The earnings report also suggested that other business divisions at the brokerage are suffering fromt the current weakness in the market. FedEx earnings declined by 6% on higher fuel cost and weak domestic shipments. Accenture, Oracle, and Nike reported better than expected earnings.
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