Stocks Ended Higher, Shaking Off Post-Fed Dip

U.S. stocks closed higher on Wednesday, shaking off a dip that came after Federal Reserve minutes showed policymakers vigorously debated the timing of any upcoming rate hikes. The Dow Jones Industrial Average rose 59.54 points, or 0.35%, to 16,979.13. The S&P 500 added 4.91 points, or 0.25%, to 1,986.51. The Nasdaq Composite edged down by 1.03 points, or 0.02%, to 4,526.48.

Hewlett-Packard (HPQ) on Wednesday reported a fiscal third-quarter profit of $985 million, or 52 cents a share, compared with a profit of $1.39 billion, or 71 cents a share, for the year-earlier period. Revenue edged higher to $27.6 billion from $27.2 billion.

Bank of America Corp (BAC) has reportedly reached an agreement to pay a record $17 billion to settle an investigation by the Justice Department over mortgage backed securities the company sold before the 2008 financial crisis, the Associated Press reports.

Carl Icahn disclosed an 8.48% stake in Hertz Global Holdings on Wednesday after the rental car company’s stock was rocked because of its latest mishap—operational problems that caused the company to withdraw its financial guidance for 2014.

Warren Buffett’s Berkshire Hathaway Inc agreed to pay an $896,000 fine to settle U.S. government accusations that it violated antitrust rules by failing to report a transaction that boosted its stake in building products company USG Corp.

About the Author

has written 14551 stories on this site.

Copyright © 2012 Nine Stocks