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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Aug 12, 2011
Page
12
A broad market rally and a near term oil price rise lifted sentiment as major indices edged up after chasing mixed company results. Crude settled at 85.52 dollars per barrel, signaling cautious optimism amid earnings noise and energy sector movement.
Apple becomes the most valuable U S company by market value surpassing Exxon Mobil. Apple’s $337 billion market value tops Exxon’s $331 billion as investors praise iPhone iPad and Mac sales. Growth driven by revenue of $65 billion in the year and net income of $14 billion. Exxon remains strong with $125 billion in revenue and earnings near $11 billion.
Pelosi named three Democrats to the 12 member panel, joining Clyburn Becerra and Van Hollen. The group, evenly split Democrats and Republicans, must craft 1.5 trillion in 10 year savings by Thanksgiving or trigger 1.2 trillion in automatic cuts. The panel faces a divided Congress, political pressure, and a mixed outlook for bipartisan compromise.
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