4:20 pm : Stocks opened lower, consolidating a modest portion of yesterday's gains amid renewed profit concerns. However, as fears of more Fed rate hikes mounted and rumors of a possible terrorist threat surfaced, the market deteriorated even further as widespread profit-taking closed virtually every industry to the downside.
Before the market opened, investors were inundated with earnings, weighing mixed reports against a plethora of strong monthly same-store sales figures and paying little attention to the day's only scheduled economic data. Nonetheless, upon further
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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!
Congress extends anti-terrorism Patriot Act The dome of the United States Capitol building is illuminated at twilight on Capitol Hill in Washington January 31, 2006. (Jim Bourg/Reuters)
2:30 pm PT Market Wrap : Stocks opened lower, consolidating a modest portion of yesterday's gains amid renewed profit concerns. However, as fears of more Fed rate hikes mounted and rumors of a possible terrorist threat surfaced, the market deteriorated even further as widespread profit-taking closed virtually every industry to the downside.
2:27 pm PT Xerium Tech announces acquisition of Coldwater Covers (XRM) 7.99 -0.01 : Co announces the acquisition of privately-held Coldwater Covers from The Coldwater Group of Atlanta, Georgia. Under the terms of the transaction, XRM's subsidiary, Stowe Woodward acquired all of the equity of Coldwater Covers together with the company's manufacturing facility located in Oxford, Alabama, for a total purchase price of approximately $6.8 mln, subject to certain adjustments.
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