Q3 GDP Revised Up to 3.1%

The stock market is mostly flat this morning. The government revised the third-quarter GDP report up to 3.1%. That’s the third-best growth number of the last 21 quarters. The number for Q4, however, most likely won’t be nearly as good. The weak spot in today’s economic news is that jobless claims rose for the first time in five weeks. Despite the rise, we’re very close to making a five-year low.

From our Buy List, coming off its good earnings report, Oracle ($ORCL) announced it’s buying Eloqua for $811 million. The dud on the Buy List this morning is Bed Bath & Beyond ($BBBY). The stock is down about 9% after its weak forecast for Q4. I thought the stock wouldn’t be down today as much as it was after-hours. Such is not the case.

Posted by on December 20th, 2012 at 10:52 am

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