| BB's Jeynes libel appeal ruling due
That would be to read far too much into those words," he said. Ms Jeynes, of Teasel Avenue, Penarth, South Glamorgan, was at the Court of Appeal earlier this week to hear her counsel, Adrian Davies, argue that the case should be allowed to proceed. He told the Master of the Rolls, Sir Anthony Clarke, sitting with Lord Justice Tuckey and Lord Justice Jacob, that the effect of the judge's ruling would be that it would be perverse of a jury to attribute to the word "geezer" its dictionary meaning. It should be left to a jury to decide whether the cover line was reasonably capable of bearing the meaning alleged, and whether - in the case of the magazine - there was sufficient proximity between the cover line and text, which was not the subject of complaint, to cure the defamatory sting.
Major Indexes Near Session Highs
Earnings misses took a bite out of the market's rebound of the past few days. The NYSE composite was up 0.4%, the Nasdaq composite down 0.2% at 12:54 p.m. EST. The S&P 500 clung to a 0.2% gain, while the Dow climbed 0.8%. Small caps slipped, with the S&P 600 dropping 0.1%. A strong jump in transportation sector durable goods orders gave the sector a boost, with the Dow transports showing a 1.5% gain. NYSE volume eased but was still up 7%. Trading was 12% higher on the Nasdaq. Advancing issues led decliners by 3-to-2 on the NYSE and by a narrow margin on the Nasdaq. The Electrical-Parts Distributor group posted the best gain by midday, hoisted higher by Anixter International's (AXE) gap-up gain of 11.08 to 69.38. The 19% jump followed a Q4 earnings and sales report that topped expectations.
Stocks Backtrack On Earnings Misses, Data Slips
Small caps slipped, with the S&P 600 dropping 0.1%. A strong jump in transportation sector durable goods orders gave the sector a boost, with the Dow Transports showing a 1.5% gain. NYSE volume eased, but was still up 7%. Trading was 12% higher on the Nasdaq. Advancing issues led decliners by 3-to-2 on the NYSE and by a narrow margin on the Nasdaq. The Electrical-Parts Distributor group posted the best gain by midday, hoisted higher by Anixter International's (AXE) gap-up gain of 11.08 to 69.38. The 19% jump followed a Q4 earnings and sales report that topped expectations. The company reaffirmed its '08 profit guidance. Anixter has slumped since a steep run-up to highs in July. Tuesday's move punched the stock above its 50-day moving average to just below its 200-day line. The two averages inverted -- generally a bad sign for stocks -- early in December.
Radio & TV Talk
This is about as likely to happen today as Neal Boortz not telling you how many airplanes he owns." Baron joined the Morning X around 1993. He had been working in Chicago. "I was looking to leave Chicago," he said. "I was working for a guy who was temperamental and irrational and a raging jerk. I couldn't wait til I came here so I didn't have to deal with that type of personality." [This got a big laugh because it's well known Baron and Steve Barnes, who was not in attendance, didn't get along. Oh, wait. Barnes—he wasn't making even the remotest allusion to you. At least that's what Baron will say.] Baron noted that normally it would be awful to have the boss on the morning show. ("It's counterproductive — like going to a strip club with your wife.") But with Fram, he said, that wasn't a problem at all.
Shares jump over 6pc after US rate cut
Yesterday, the Australian stock market suffered its worst one-day fall in more than 10 years, losing $96 billion, as fears of a US recession panicked global markets. The bloodbath drove the broader local market down more than 7 per cent - its worst performances in two decades - and mirrored sharp falls on share markets across Europe and Asia. In a terrible day for investors, Australia's benchmark S&P/ASX200 index yesterday fell 393.6 points, or 7.05 per cent, to 5186.8. The All Ordinaries lost 408.9 points, or 7.26 per cent, to 5222.0 points. .
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