NEWS BRIEFS

Market Wrap-Up

U.S. stocks experience another dramatic down-turn in last minute trading, as the Dow falls more than 400 points, closing below the 7,600 threshold.

Economic Reports:

Initial Jobless Claims are at 542,000 claims for the week of 11/15, up from a revised 515,000 claims the prior week - Full story;

Leading Indicators show a 0.8% decrease for the month of October, down from a revised 0.1% increase the prior month - Full story;

Philadelphia Fed. is at -39.3 for the month of November, down from -37.5 the prior month - Full story.

PetSmart, Inc. reports 3rd-qtr net income of $0.28/share, up from $0.23/share in the same qtr last year - Full story.

Limited Brands, Inc. reports 3rd-qtr earnings of $0.01/share, down from $0.03/share in the year ago period - Full story.

The Men's Wearhouse reports 3rd-qtr earnings of $0.28/diluted share, down from $0.69/share in the prior year period - Full story.

Dick's Sporting Goods, Inc. reports 3rd-qtr net income of $0.08/diluted share, down from $0.10/share in the same period last year - Full story.

The Children's Place Retail Stores, Inc. reports 3rd-qtr earnings of $0.96/share, up from $0.51/share in the year ago qtr - Full story.

The Gymboree Corp. reports 3rd-qtr earnings of $1.06/diluted share, up from $0.91/share in the same period last year - Full story.

Chrysler and General Motors have severely scaled back their presence at the LA Auto Show, while their top executives are in Washington pleading for $25 billion in loans - Full story.

GMAC Financial Services has applied to become a bank holding company under the Bank Holding Company Act of 1956 - Full story.

Major world indices have posted lower results for Thursday. London's FTSE was down 3.26%, Frankfurt's DAX closed down 3.08%, and Paris' CAC finished down 3.48%. Japan's Nikkei was down 6.89%, Hong Kong's Hang Seng closed down 4.04%, and Sydney's All Ordinaries Index finished down 4.32%.

Economic Calendar:

Fri: No Reports Today.

Aaron Jacobs - News Editor
aaron.jacobs@mworld.com

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