US cuts its growth forecasts

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Source: Marketwatch
US economy develops slower than expected. The Commerce Department decreased its projected growth rate from 2.5% to 2% in Q3. Lower growth rate was mainly caused by companies reducing inventories and decreasing investments. Experts expect the growth cut to 2.3%. However, the rate is quite promising as it is the highest since the end of 2010.
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Tue, 22 Nov 2011 15:09:58 GMT

Dollar Tree increases the treasury stock

Dollar Tree Inc agreed to buy back $300 million of its shares from Wells Fargo Bank to facilitate its buyback programme. Dollar Tree already plans to repurchase $200 million of shares from JPMorgan Chase & Co under approved buyback budget of $500 million. Many companies now consider repurchasing its stock as markets remain extremely volatile. The stocks of Dollar Tree closed at $75.69 yesterday gaining

Tue, 22 Nov 2011 14:59:17 GMT

Nasdaq Composite follows US market trend

Nasdaq Composite Index dropped 1.9% or 49.36 points closing at 2,523.14 following other US market indices' downward path as US supercommittee failed to approve budget cuts on Monday. Among major negative contributors to the index were Gilead Sciences Inc which lost 9% after announcing plans to acquire drug developer Pharmasset Inc and Analog Devices Inc which traded 2.72% down after announcing financial results for the last quarter and

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