Standard & Poor’s Makes Blunder: Acadiana Business Index
- Standard & Poor's Ratings Services erroneously issued a message saying it had cut France's triple-A credit. The confusion prompted S&P to issue a statement saying France’s triple-A rating was not changed.
- In economic news, the Labor Department said the number of people filing for unemployment assistance last week dropped.
- Jefferson County, Ala., home of Birmingham, filed the largest municipal bankruptcy in U.S. history, more than $3 billion.
In corporate news:
- Cisco ran up 7.2% after the networking company reported earnings and revenue that exceeded expectations.
- Green Mountain Coffee Roasters plunged 38%, after missing its own forecasts and Wall Street's targets.
- And, Advance Auto Parts gained 3.5%. The auto parts retailer's profit rose 20%.
- Crude oil closed at $97.78 a barrel.
- And Gold settled at $1,760 an ounce.