Martha Stewart Living Omnimedia Faces Wider Losses
Martha Stewart Living Omnimedia posted a broader third quarter deficit and forecast a larger fourth quarter loss as ad revenue declines and founder Martha Stewart endures personal legal issues. Despite results beating expectations, the firm remains cautiously optimistic about an ad revenue rebound in 2005 with Stewart’s planned return.
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Delta Air Lines stock soars on labor news amid short-seller unwind
Labor news boosts Delta Air Lines shares, as analysts say short-sellers covered heavy bets. Delta avoided bankruptcy by pilots accepting pay cuts, with shares up to $6.24 intraday and 29 million shares traded. Confederates like Alison Scott and Bob Kindred discuss past losses and lingering bankruptcy fears while remaining hopeful for a recovery.
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Unemployment claims rise sharply in latest weekly data
Washington reports that new unemployment benefits claims rose by 20,000 to 350,000 last week, the largest one-week jump in a month. The Labor Department data suggests continued labor market pressure even as the recovery nears its third anniversary, far exceeding private economists’ expectations.
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