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Thursday, October 18, 2012

Daily Investor Briefing: Google snafu rips tech stocks, drags...

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10/18/2012
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Google snafu rips tech stocks, drags Wall Street lower
NEW YORK (Reuters) - Stocks fell on Thursday, with technology stocks hit hard after Google disappointed investors with earnings results that were prematurely released during the trading day.
Google results miss; shares dive after premature report
SAN FRANCISCO (Reuters) - Google Inc's quarterly results fell well short of Wall Street's expectations after its core advertising business slowed, stunning investors accustomed to consistently rapid growth from the Internet giant and wiping more than 9 percent off its market value.
Microsoft profit falls as PC sales shrink
SEATTLE (Reuters) - Microsoft Corp's fiscal first-quarter profit fell a greater-than-expected 22 percent, hurt by a dip in computer sales running its Windows operating system and the deferral of some revenue ahead of upcoming releases of its core Windows and Office products.
Jobless claims hint labor market improving slowly
WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits spiked last week, reversing a sharp decline in the prior week but still pointing to a labor market that is slowly healing.
Goldman gives its version of angry employee's departure
NEW YORK (Reuters) - Just days before publication of a book promising to expose a rampant culture of greed at Goldman Sachs Group Inc , the Wall Street company is writing its own story about the book's author.
Analysis: Presidential tax plans could bruise municipal bond market
(Reuters) - Tax policies proposed by the two presidential candidates may differ in several ways, but both could roil the $3.7 trillion U.S. municipal bond market, popular with wealthy investors and vital for the financing needs of states, cities and other issuers of tax-exempt debt.
JPMorgan apologizes to power regulator for misleading information
NEW YORK (Reuters) - JPMorgan Chase & Co apologized to the U.S. energy regulator on Thursday for providing misleading information about California electricity markets, saying it was inadvertent.
GM to shift 3,000 Hewlett jobs to its payroll
(Reuters) - General Motors Co will shift 3,000 Hewlett-Packard Co employees to its payroll as part of a sweeping program to overhaul the automaker's information services, GM said Thursday.
Exxon seeks to quit flagship Iraq oil project
LONDON/WASHINGTON (Reuters) - Exxon Mobil wants to leave its giant oilfield project in southern Iraq, diplomatic sources said, in a move likely to aggravate the country's internal tensions and hamper Baghdad's ambitious energy expansion plans.
Merkel, Hollande clash on EU budget czar before summit
BERLIN/BRUSSELS (Reuters) - Germany and France, Europe's two central powers, clashed over greater European Union control of national budgets and moves towards a single banking supervisor before a summit of the bloc's leaders began on Thursday.
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