Author: 123jump.com Staff
123jump.com
Last Update: 4:13 PM EST December 20 2006
Advancing stock indexes faced headwind as investors stayed on the sidelines, however in the broader market stocks managed to gain. FedEx reported 9% jump in earnings but forecasted lower Q3 earnings dragging the stock lower by 2%. Redback agreed to be acquired by Ericsson for $2.1 billion, stock rose 20%. Used car dealer, CarMax rose 8% on sharp rise in sales and earnings. European markets rose. Asian markets gained on Thai market rise of 11% after losing 15% a day earlier.
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