photo by gari.baldi
Quote for the day:
"All truths are easy to understand once they are discovered; the point is to discover them."
In the news:
Inflation increased 4.1% in 2007, the biggest gain since 1990. Core CPI increased 2.4% for the year.
J.P. Morgan Chase's net income dropped 34% to $2.97 billion as the company recorded a $1.3 billion write-down on its subprime positions; its stock price is up on the news.
Shares of Intel are down after issuing a disappointing outlook and reported fourth-quarter results short of expectations. "You hear all the pundits saying that the world is going to go to a trash basket, and you worry," CEO Paul Otellini said on a call with analysts. "Maybe a self-fulfilling prophecy. At this point we don't see anything on the horizon. ... If there's any near-term concern, I think it tends to be focused on the U.S. market. ... It would be imprudent not to be cautious about it, though." Sphere: Related Content
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