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US insurer won't cover gas drill fracking exposure

July 12, 2012 4:50 pm | by MARY ESCH - Associated Press - Associated Press | News | Comments

Nationwide Mutual Insurance Co. has become the first major insurance company to say it won't cover damage related to a gas drilling process that blasts chemical-laden water deep into the ground.The Columbus, Ohio-based company's personal and commercial policies "were not designed to cover" risk...

Lexmark warns of 2Q letdown, stock plummets

July 12, 2012 4:50 pm | by The Associated Press | News | Comments

Printer maker Lexmark International Inc. fared worse during the second quarter than management anticipated, providing the latest evidence of a weakening economy.The warning, issued late Thursday, is the latest sign of trouble in the technology industry, which had been one of the economy's...

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US Airways becomes AMR creditor

July 12, 2012 3:50 pm | by The Associated Press | News | Comments

US Airways says it is now a creditor of American Airlines parent AMR Corp., the company it's trying to force into a merger.US Airways said in a filing Thursday in U.S. bankruptcy court that it supports AMR's request for more time to draft a reorganization plan.But US Airways says it could...

NC regulators to hear from dumped Duke Energy CEO

July 12, 2012 2:50 pm | by EMERY P. DALESIO - AP Business Writer - Associated Press | News | Comments

North Carolina utilities regulators investigating whether they were misled before the merger creating the country's largest electric company have called the sacked CEO of Duke Energy to testify.The North Carolina Utilities Commission on Thursday ordered two more days of hearings. Former...

Money market fund assets rise to $2.551 trillion

July 12, 2012 2:50 pm | by The Associated Press | News | Comments

Total U.S. money market mutual fund assets rose $18.56 billion to $2.551 trillion for the week that ended Wednesday, the Investment Company Institute said Thursday.Assets of the nation's retail money market mutual funds fell $1.56 billion to $886.34 billion, the Washington-based mutual fund...

Senator Questions Findings in Toyota Investigation

July 12, 2012 1:50 pm | by TOM KRISHER - AP Auto Writer - Associated Press | News | Comments

A U.S. senator is questioning whether the government's investigation of Toyota's problems with unintended acceleration was thorough enough.Sen. Charles Grassley of Iowa sent a letter to the National Highway Traffic Safety Administration on Thursday. It questions whether a probe that cleared Toyota...

Acme Packet plans $200M stock repurchase

July 12, 2012 12:50 pm | by The Associated Press | News | Comments

Phone and data network equipment maker Acme Packet Inc. said Thursday it will buy back up to $200 million in stock over the next 12 months.The share repurchase program goes into effect July. Acme Packet said it had 68.3 million shares on the market as of March 31.On Thursday the stock gained 24...

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Airline shares fall on cautious Goldman Sachs view

July 12, 2012 12:50 pm | by The Associated Press | News | Comments

Airline stocks fell Thursday after Goldman Sachs said they are due for a correction in the second half of this year.Goldman Sachs initiated coverage of the industry with what it called a "cautious" view. Analyst Tom Kim wrote that airlines have performed better than the Standard & Poor's 500...

Equity Briefing: Stock Analysts' Upgrades for July 12th: AKZOY, AMCX, CSIQ, CVX, DIS, HT, MRK, OKE, SPWR, SVU, TSO

July 12, 2012 11:50 am | by The Associated Press | News | Comments

A number of stocks were upgraded by equities research analysts today, as reported by Analyst Ratings Network:Akzo Nobel (NASDAQ: AKZOY) was upgraded by analysts at HSBC from a "neutral" rating to an "overweight" rating.AMC Networks (NASDAQ: AMCX) was upgraded by analysts at Barclays Capital from an...

Equity Briefing: Stock Analysts' Downgrades for July 12th

July 12, 2012 11:50 am | by The Associated Press | News | Comments

A number of stocks were downgraded by equities research analysts today, as reported by Analyst Ratings Network:Archer Daniels Midland Company (NYSE: ADM) was downgraded by analysts at Morgan Stanley from an "overweight" rating to an "equalweight" rating.ADTRAN, Inc. (NASDAQ: ADTN) was downgraded by...

Stock Analysts' New Coverage for July 12th: AMZN, CMA, CUR, EMC, IBM, IMPV, JNPR, KIOR, LTM, MCO, VPHM, VSCI

July 12, 2012 11:50 am | by The Associated Press | News | Comments

Equities research analysts initiated coverage on a number of stocks today, as reported by Analyst Ratings Network:Amazon.com, Inc. (NASDAQ: AMZN) is now covered by analysts at BMO Capital Markets. They set a "market perform" rating on the stock.Comerica (NYSE: CMA) is now covered by analysts at...

Seasonal adjustments to economic data can mislead

July 12, 2012 11:50 am | by CHRISTOPHER S. RUGABER - AP Economics Writer - Associated Press | News | Comments

At first, it seemed like cause to cheer: The number of people who sought unemployment benefits last week tumbled to a four-year low, the Labor Department said Thursday.Did that mean the job market is surging back to health? Is the unemployment rate about to sink?Not necessarily. Turns out, last...

AstraZeneca buys Link's neurodegenerative drugs

July 12, 2012 11:50 am | by The Associated Press | News | Comments

British drugmaker AstraZeneca PLC said Thursday it is buying experimental treatments that show promise for being developed to treat neurodegenerative diseases like Parkinson's disease and Alzheimer's disease from Link Medicine Corp. of Massachusetts.AstraZeneca did not disclose terms of the...

With fire out, focus now on Ohio train crash cause

July 12, 2012 11:50 am | by The Associated Press | News | Comments

A train that partly derailed and exploded north of downtown was traveling below the recommended speed before the crash, and its operators noticed no problems with the track as they approached the curve where it happened, a National Transportation Safety Board representative said.The NTSB is...

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