Thursday, December 8, 2011
The Vicksburg Post
Business
Lack of ECB bond buying sends stocks lower
Fr o m s t a f f a n d A P r e p o r t s
LOCAL STOCKS The following quotes on local companies are provided as a service by Smith Barney Citi Group, 112-B Monument Place, 601-636-6914. Archer-Daniels (ADM)............ 29.55 American Fin. (AFG)..................36.79 Ameristar (ASCA)........................18.17 Auto Zone (AZO)..................... 333.86 Bally Technologies (BYI)...........37.87 BancorpSouth (BXS)..................10.28 Britton Koontz (BKBK)................ 5.94 Bunge Ltd. (BG)...........................62.80 Cracker Barrel (CBRL)................49.60 Champion Ent. (CHB).....................20 Com. Health Svcs. (CYH)...............18.88 Computer Sci. Corp. (CSC)...........25.54 Cooper Industries (CBE)..........55.48 CBL and Associates (CBL)................15.11 CSX Corp. (CSX)...........................21.52 East Group Prprties (EGP)............42.26 El Paso Corp. (EP).......................25.02 Entergy Corp. (ETR)...................72.13
Fastenal (FAST)............................41.60 Family Dollar (FDO)...................58.22 Fred’s (FRED).................................13.48 Int’l Paper (IP)..............................28.67 Janus Capital Group (JNS)..............6.75 J.C. Penney (JCP)........................33.51 Kroger Stores (KR)......................23.69 Kan. City So. (KSU).....................66.85 Legg Mason (LM)..................... 26.60 Parkway Properties (PKY).............10.08 PepsiCo Inc. (PEP)......................64.91 Regions Financial (RF).................4.15 Rowan (RDC)................................ 33.25 Saks Inc. (SKS).................................9.54 Sears Holdings (SHLD)............. 60.49 Simpson-DuraVent (SSD).............34.50 Sunoco (SUN)............................... 39.00 Trustmark (TRMK)...................... 22.67 Tyco Intn’l (TYC).......................... 47.26 Tyson Foods (TSN)..................... 20.31 Viacom (VIA)................................. 50.26 Walgreens (WAG)....................... 34.51 Wal-Mart (WMT)......................... 58.51
ACTIVE STOCKS
Sales High Low Last Chg
ABBLtd .64e 8178 AESCorp 6973 vjAMR 385072 AT&TInc 1.72 34031 AMD 14820 AlcatelLuc 39406 Alcoa .12 16991 AlphaNRs 9787 Altria 1.64f 10523 AEagleOut .44 10808 AmIntlGrp 7138 Annaly 2.51e 9727 ArcelorMit .75 9720 ArmourRsd 1.32m 31004 BPPLC 1.68 7979 BakrHu .60 11096 BcoBrades .80r 9049 BkofAm .04 265994 BariPVix 22448 BarrickG .60f 11817 BostonSci 7682 BrMySq 1.36f 7250 CSX s .48 8767 Caterpillar 1.84 10899 Cemex 9207 ChesEng .35 6718 Chevron 3.12 8959 Citigrprs .04 126204 CocaCola 1.88 8634 ConocPhil 2.64 7316 Corning .30f 14773 DeltaAir 14195 DxFnBullrs 25645 DrSCBrrs 43060 DirFnBrrs 17747 DirxSCBull 35902 Disney .60f 7943 DollarGen 9837 EMCCp 22293 EQTCorp .88 12251 EKodak 8703 Ecolab .80f 12335 ElPasoCp .04 8149 EnCanag .80 7518 EntPrPt 2.45f 41581 ExxonMbl 1.88 17443 FordM 53768 FMCG s 1a 19463 FrontierCm .75 9062 Frontline 8812 GenElec .60 55870 GenMotors 6518 Genworth 32613 Gerdau .20e 8617 GoldmanS 1.40 14624 Hallibrtn .36 47624 HartfdFn .40 19971 HeclaM .02p 9428 HewlettP .48 21490 HomeDp 1.16f 9923 ING 9389 iShBraz 3.42e 14690 iShJapn .17e 12761 iSTaiwn .29e 10921 iShSilver 27037 iShChina25 .85e 19557 iShEMkts .84e 74463 iShB20T 3.87e 8678 iSEafe 1.68e 18160 iShR2K 1.02e 55183 iShREst 2.18e 9855 ItauUnibH .84e 12319 JPMorgCh 1 66017 JohnJn 2.28 10282 JnprNtwk 20927
18.65 12.00 1.05 29.24 5.69 1.61 9.87 24.36 28.84 14.87 24.17 16.40 18.76 6.97 42.52 51.82 17.27 5.88 43.08 50.57 5.62 33.57 21.46 95.53 5.04 25.45 104.80 29.35 67.12 72.33 14.01 8.60 66.40 28.13 39.13 45.66 36.96 40.11 23.51 60.79 1.07 55.72 25.01 20.09 44.75 80.85 10.99 40.08 5.37 3.51 16.65 21.76 7.05 7.93 104.69 34.36 18.52 6.55 28.67 40.80 7.87 60.36 9.38 12.03 31.32 36.53 39.56 118.00 50.86 74.18 55.49 18.90 33.70 64.45 21.29
18.50 18.53—.50 11.81 11.82—.22 .80 .94—.18 28.93 28.96—.44 5.58 5.67—.05 1.56 1.58—.09 9.79 9.81—.09 23.76 23.85—.81 28.74 28.77—.06 14.50 14.81+.25 23.64 23.65—.81 16.31 16.33—.02 18.42 18.46—.60 6.93 6.95—.22 42.24 42.38—.65 50.21 50.96+.24 17.03 17.13—.14 5.80 5.83—.07 42.56 42.97+1.24 49.78 49.79—1.39 5.48 5.50—.09 33.24 33.53+.00 21.26 21.40—.12 94.06 94.66—.23 4.91 4.93—.16 25.15 25.18—.35 103.66 103.66—.86 28.60 28.69—1.14 66.56 67.02+.24 71.86 71.87—.54 13.81 13.89—.11 8.42 8.55—.01 64.85 64.86—3.44 27.55 27.99+1.00 38.28 39.13+1.79 44.66 44.88—1.72 36.67 36.67—.43 39.44 39.81+.34 23.25 23.42—.18 56.43 57.40—.76 1.03 1.03 55.39 55.51+.12 24.87 24.90—.12 19.69 19.70—.58 44.52 44.71—1.23 80.24 80.38—.70 10.88 10.91—.17 39.56 39.63—.79 5.30 5.31—.08 3.33 3.37—.31 16.52 16.57—.17 21.51 21.61—.33 6.76 6.84—.09 7.85 7.85—.19 102.30 103.11—2.02 33.60 33.94+.54 17.77 17.79—.94 6.40 6.42—.15 28.17 28.57+.16 40.49 40.61—.12 7.78 7.79—.39 59.84 59.85—1.27 9.36 9.36—.06 11.95 11.97—.22 31.00 31.05—.56 36.28 36.32—.50 39.31 39.32—.71 117.41 117.90+.21 50.62 50.63—.86 73.65 73.78—.90 54.90 54.90—.76 18.66 18.79—.14 32.97 33.14—.86 64.06 64.06—.39 20.68 20.75—.56
Keycorp .12 6793 Kinrossg .12f 9012 KodiakOg 8503 LDKSolar 8304 LVSands 27409 LillyEli 1.96 9190 Lowes .56 25622 MEMC 38066 MGIC 24110 MGM Rsts 27914 MarathPn 1f 8063 MktVGold .40e 31567 McClatchy 7533 McDnlds 2.80f 15163 McGrwH 1 7023 Medtrnic .97 6917 Merck 1.68f 12102 MobileTele 1.06e 7376 MorgStan .20 69337 NewmtM 1.40f 8238 NokiaCp .55e 78313 OilSvHT 1.82e 7910 OilStates 9502 PNC 1.40 7509 PetrbrsA 1.34e 8020 Petrobras 1.26e 17356 Pfizer .80 38432 PhilipMor 3.08 7112 Potashs .28 7000 ProShtS&P 8288 PrUShS&P 35619 ProUltSP .31e 21941 ProUShL20 24139 ProUSSP500 18344 ProctGam 2.10 10022 RadianGrp .01 16218 RegionsFn .04 37143 SpdrDJIA 3.16e 11739 SpdrGold 11199 S&P500ETF 2.46e 218501 SandRdge 6756 Schlmbrg 1 10286 Schwab .24 10855 SilvWhtng .18e 7007 SprintNex 9664 SPMatls .82e 13740 SPEngy 1.08e 20134 SPDRFncl .20e 140532 SPInds .69e 8684 SuccessF 18296 Suncorgs .44 7876 SunTrst .20 8757 TaiwSemi .52e 10346 TexInst .68f 13682 Transocn 3.16 9543 UBSAG 8022 USAirwy 10648 UtdContl 7092 USBancrp .50 11778 USNGsrs 7779 USOilFd 14322 USSteel .20 11035 UtdhlthGp .65 6870 ValeSA 1.76e 23888 ValeSApf 1.76e 6829 ValeroE .60f 17600 Validus 1 10641 VangEmg .82e 29680 VerizonCm 2 8459 WalMart 1.46 12889 Walgrn .90 6651 WeathfIntl 19725 WellsFargo .48 27673 Yamanag .20f 8049 YumBrnds 1.14 11703
7.35 13.72 9.00 4.38 45.19 39.48 25.17 4.64 3.87 10.57 34.57 58.25 1.84 98.22 42.53 36.17 35.73 15.59 17.38 67.42 5.12 123.15 77.05 56.01 26.01 27.93 20.54 75.58 43.73 40.79 19.69 46.41 19.57 13.61 65.00 2.76 4.13 121.81 167.63 126.18 7.71 75.35 12.17 33.29 2.55 34.49 70.46 13.20 33.90 39.79 30.13 18.05 13.17 31.03 44.89 12.33 5.50 20.44 26.40 7.60 38.65 28.28 49.55 22.74 21.52 21.71 30.09 40.44 38.25 58.55 34.51 15.02 26.85 16.20 58.95
7.25 7.28—.13 13.50 13.50—.38 8.80 8.85—.12 4.21 4.36+.08 44.16 44.27—1.35 39.13 39.39—.04 24.92 25.10—.10 3.85 4.50+.29 3.54 3.75+.15 10.27 10.49+.04 33.80 33.98—.52 57.68 57.68—1.28 1.68 1.74—.17 96.92 98.20+1.75 41.91 42.40+.26 35.75 35.77—.62 35.50 35.54—.07 15.30 15.34—.03 16.75 16.77—.57 66.75 66.78—.93 5.05 5.08—.25 121.23 121.76—.51 75.50 76.29—.68 55.19 55.57—.40 25.56 25.56—.59 27.36 27.36—.81 20.31 20.46—.01 74.97 75.17—.41 43.12 43.26—.40 40.61 40.73+.29 19.52 19.64+.25 46.02 46.13—.61 19.40 19.42—.05 13.43 13.55+.28 64.71 64.83—.40 2.49 2.61+.05 3.86 4.08—.07 121.35 121.48—.59 166.74 166.77—2.63 125.63 125.78—.95 7.55 7.62—.07 74.12 74.54—.55 11.94 11.96—.24 32.94 32.95—.51 2.52 2.52—.04 34.29 34.31—.44 69.87 70.00—.60 13.08 13.08—.26 33.71 33.80—.25 39.75 39.77—.11 29.70 29.81—.38 17.76 17.78—.43 13.04 13.09—.13 30.38 30.74+.07 43.84 43.88—1.51 12.17 12.20—.29 5.38 5.47—.12 20.00 20.26—.43 26.06 26.14—.27 7.56 7.59+.04 38.32 38.33—.48 27.94 27.96—.39 48.50 49.14—.20 22.47 22.53—.45 21.31 21.37—.35 21.01 21.32—.75 29.57 29.97—.06 40.19 40.20—.73 37.95 37.99—.32 58.26 58.36—.15 34.19 34.27—.24 14.70 14.88+.09 26.64 26.71—.34 16.00 16.07—.22 57.71 58.77+.76
smart money Q: I would like to know if, when a person goes to a nursing home and has CDs that list either/or on the CD, whether those CDs have to be included when stating the person’s net worth. My mother has some BRUCE CDs that have either/or on them with my brother’s and sister’s plus my name on them. I am not sure whether I asked this question right. Thank you. — Janice, Homer, Ill. A: If your mother goes into a nursing home, she’ll have to fill out a financial form. If she applies for Medicaid, all monies up to a very small
WILLIAMS
A5
amount must be spent on her behalf. If assets remain upon her death and she has collected Medicaid, the state has an option of going after those assets. Many people scurry around and try to shelter this money from Medicaid. The best way to insure that is to give away funds exceeding the look-back period, which is 36 months. If your mother is not going to be in a nursing home after that look-back period, and she’s comfortable with giving the money to you guys knowing that you will spend it on her behalf, that’s OK. The reality is that most people who do go into nursing homes seldom live more than three years. If you or your siblings dissipate the funds, you will put yourself in some peril. •
Bruce Williams writes for Newspaper Enterprise Association. E-mail him at bruce@brucewilliams.com.
NEW YORK (AP) — U.S. stocks are sliding today after the head of the European Central Bank said there was no existing plan for large-scale government bond purchases, as many in the markets had hoped. ECB President Mario Draghi’s remarks sent borrowing costs for Italy, Spain and other countries with heavy debt burdens sharply higher. European stock indexes fell and the euro weakened against the dollar. Draghi was speaking after the central bank cut its benchmark interest rate and took other modest steps to help shore up Europe’s financial system. The Dow Jones industrial average fell 109 points, or 0.9 percent, to 12,086 as of 10:10 a.m. JPMorgan Chase & Co. slid 2.4 percent, the most of the 30 large companies in the Dow. Bank of America dropped 1.5 percent. If the Dow closes lower, it will break a threeday run of modest gains. “The market is reacting to a breakdown in what was supposed to be the solution to the European problems,” says Richard Bove, bank analyst at Rochdale Securities. He believes the fears are over-
Jobless aid applications drop to 9-month low WASHINGTON (AP) — The number of people applying for unemployment benefits fell last week to the lowest level in nine months, the latest evidence that the job market is improving. The Labor Department said today that weekly applications dropped by 23,000 to a seasonally adjusted 381,000. That’s the lowest number of applications since late February. The four-week average, a less volatile measure, fell for the ninth time in 11 weeks to 393,250. That’s the lowest average since early April. Applications that drop below 375,000 — consistently — tend to correlate with a steady decline in the unemployment rate. “There have been numerous indications that the labor market is healing and today’s
jobless claims report only reinforces that view,” said Dan Greenhaus, chief global strategist at BTIG, a trading firm. The unemployment rate fell to 8.6 percent in November, the government said last week, down from 9 percent the previous month. That’s the lowest rate in 2½ years. Still, the unemployment rate dropped last month in part because more people gave up looking for work. Once the unemployed stop looking for jobs and drop out of the work force, they are no longer counted as unemployed. Employers added a net total of 120,000 jobs last month. The economy has generated 100,000 or more jobs five months in a row — the first time that has happened since April 2006.
blown. “They’re worried about this unknown, undefined, unquantifiable contagion risk that is somehow going to hit the banks.”
The Standard & Poor’s 500 index fell 15, or 1.2 percent, to 1,245. The Nasdaq lost 24, or 0.9 percent, to 2,625. In France, French President
Nicolas Sarkozy and German Chancellor Angela Merkel tried to muster support from other European leaders for their latest bid to save the euro currency from collapsing under the weight of huge government debts. A summit that begins later today has been billed as a make-or-break moment to convince markets that Europe will take bold enough action to prevent the euro from breaking up. The yield on the benchmark 10-year Italian government bond jumped a quarter of a percentage point, a large move, to 6.12 percent as investors sold the bonds following Draghi’s remarks. The yield on Spain’s 10-year bond rose one-third of a percentage point to 5.71 percent. Traders sent yields on Italian government bonds above 7 percent last month, a level at which weaker countries like Greece and Portugal were forced to seek relief from their lenders. When borrowing costs jump too high, it threatens a government’s ability to pay off existing debts and could ultimately lead a government to default.
GOP leaders hope for agreement on payroll tax cut WASHINGTON — Top House Republicans hope to win rank-and-file GOP support for a measure renewing this year’s Social Security payroll tax cut and extending benefits for the long-term unemployed. House GOP lawmakers were meeting privately today to seek agreement on legislation that leaders want to bring to a vote next week. They would also include language heading off a 27 percent cut in Medicare reimbursements to doctors. All three items will expire Jan. 1 without congressional action — just as the 2012 presidential and congressional election year begins. Many conservatives oppose the payroll tax cut as too expensive and a poor way to spark job growth, while some oppose providing much additional help to people without jobs. The battle over renewing the payroll tax cut has taken top billing.
Business
BY THE ASSOCIATED PRESS
USDA strips down antitrust rule ST. LOUIS — The U.S. Department of Agriculture will release a new but stripped-down antitrust rule today regulating meat companies that’s far less sweeping than initial reforms that ran into strong opposition from businesses and Congress. The department will publish the final version of the rule after more than a year of heated debate that pitted the nation’s biggest meat companies against many farmers and ranchers. Congress voted last month to prohibit the USDA from passing most portions of the reform. The companies had claimed the rule could increase costs and raise the price of meat. “I think it’s unfortunate that Congress chose to intervene in the process and pre-
vent us from going further,” Secretary of Agriculture Tom Vilsack said Wednesday. But Vilsack said the remaining provisions would help farmers. “I think all of these steps we’re taking are important,” he said. The final version requires
that meat companies give farmers the right to opt out of mandatory arbitration clauses in their contracts. Those clauses have upset many farmers, who thought they should have the right to take poultry companies to court for alleged contract violations.