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As Expected, Rate Rasied to 4.5% |
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Author: Elena Todorova
123jump.com
Last Update: 3:32 PM EST January 31 2006
U.S. stocks traded weak as Fed raised key interest rate for the 14th time in 19 months by a quarter point to 4.5%. Mixed earnings news also weighed on sentiment. Merck, fourth-quarter earnings were up slightly. Altria Group posted higher Q4 earnings but forecast a decline in 2006 earnings due to restructuring charges. Haemonetics posted 155% quarterly profit jump of $1.02 a share, above estimates of 42 cents. |
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