4:20 pm : What was widely expected to be a cautious day of trading, in anticipation of bidding farewell to Alan Greenspan's 18-year reign as Fed Chairman with a 14th consecutive 1/4% fed funds rate hike (to 4.50%), ended the same way it began, in negative territory.
Even though a second straight change was made to the FOMC policy statement's wording, signaling that the series of "measured" 1/4% rate hikes that began in June 2004 has now ended, mention that "some further policy firming may be needed" to keep economic growth and inflation balanced weighed on sentiment. That
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JESSICA'S DIVA DEMANDS
Jessica Simpson, 25, likes to act clueless, but she can swing her celebrity weight like a pro. According to a studio source, weeks before the press tour for The Dukes of Hazzard began, "we were bombarded with a six-page pamphlet of demands for Jessica from the office of her dad, Joe Simpson." Among Jessica's requests: paid accommodations for her hairstylist and assistant in the same hotel as Jessica; a wardrobe budget estimated in the thousands of dollars; cases of Evian water; and paid private... •JEN FREAKS OVER ANGELINA'S NEW BABY •JULIA STILES, GWYNETH PALTROW AND MORE!
Bush says U.S. addicted to oil President Bush begins his State of the Union address on Capitol Hill in Washington January 31, 2006. (Larry Downing/Reuters)
3:03 pm PT Support And Resistance Table : The overall market action was mixed and cautious with the after hours tone weaker.� For a look at tomorrow's�supports and resistances for the market averages go to The Technical Take.
2:33 pm PT Third Wave announces management team changes (TWTI) : Co announced that Maneesh K. Arora will begin transitioning to the position of chief financial officer immediately. The transition will be completed by mid-March. James J. Herrmann will remain with the company as its principal financial officer through the filing of its annual report to affect a smooth transition. Gregory K. Hamilton, who has served as the company's executive director of planning and administration, has been appointed vice president of finance.
2:32 pm PT Huntsman confirms interest in company (HUN) : Co announces that in late 2005 it received an indication of interest regarding an acquisition of all of the outstanding stock of the co. In response to this indication of interest, the Board of Directors engaged financial and legal advisors to assist it in evaluating a sale of the co and other alternatives to enhance shareholder value, including continuing to execute its business plan. At that time, the Board of Directors also formed a special committee with authority to make a recommendation concerning any potential sale of the Company. As part of this process, the co has contacted, obtained proposals from, and held discussions with, a limited number of potential acquirers or merger partners. At this time, the co continues to review its strategic alternatives, which could include a possible sale of the co or remaining an independent public co.
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