SolarCity Corp. (Nasdaq: SCTY) stock was up more than 2.8% in early trading Tuesday despite the fact that the company delayed its Q4 earnings report for the second time.
The company announced yesterday (Monday) that it found an accounting error relating to its overhead expenses and now has to restate its 2012 and 2013 financial results. The earnings are expected to be released on March 18.To continue reading, please click here...
Stock Market Today Stalled on Fiscal Cliffhanger
The stock market today was down slightly as concerns over the fiscal cliff continued to weigh on markets.
Shortly after 1 p.m. on Wall Street, the Dow Jones Industrial Average was down 10 points, the Standard & Poor's 500 Index was down about 3 points and the Nasdaq slipped nearly 14.
Of note in the ongoing fiscal cliff saga was U.S. President Barack Obama and Vice President Joe Biden's 10 a.m. meeting with six state governors on how to avoid the looming double whammy of higher taxes and government spending cuts.
The White House guests included three Republican governors: Gov. Gary Herbert, R-UT; National Governors Association (NGA) Vice Chair Gov. Mary Fallin, R-OH; and Wisconsin's Republican Gov. Scott Brown, who is best known for his battles with public employee unions during the election season.
Representing Democrats were Gov. Jack Markell of Delaware, chairman of the NGA; Arkansas's Gov. Mike Beebe and Gov. Mark Dayton of Minnesota.
Following the meeting, President Obama will engage in his first television interview since the election at 12:30 p.m. with Bloomberg News.
Market participants continue to sit on the sidelines as the GOP and Obama administration butt heads over how to avert falling off the cliff.
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Stock Market Today: Who's Up, Who's Down
Many companies are making headlines in the stock market today as markets are up on hopes of more monetary easing from the U.S. Federal Reserve as it concludes its two-day policy meeting tomorrow.
Investors might be having a delayed reaction to Sunday's Greek elections as yesterday's trading volume was much lower than average, and not much movement occurred.
The markets are also responding well to the number of housing permits filed in May which was at its highest level since September 2008. Permits were reported at a seasonally-adjusted annual rate of 780,000, easily exceeding forecasts of 725,000.
For now investors wait in anticipation for the Fed to make a move, but if none is taken expect a slight downturn in the markets tomorrow afternoon.
In the meantime, here are five stocks to follow in today's trading:
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