Issue link: https://www.epageflip.net/i/55003
8B Daily News – Thursday, February 9, 2012 Furniture DEPOT 235 S Main St., Red Bluff 530 527-1657 www.thefurnituredepot.net HOURS: MONDAY-FRIDAY 9:00-6:00 SATURDAY 9:00-5:00 • SUNDAY 11:00-5:00 Making Room for Our New Merchandise 50-60% off retail the oldies still hanging around SAVE BIG on our Red Tag Sale NEW YORK (AP) — Stocks staged an afternoon- long rally and closed high- er Wednesday as Greece appeared to close in on the cost-cutting deal it needs to keep from defaulting on its national debt. The Dow Jones industri- al average gained 5.75 points to close at 12,883.95 after falling as much as 60 points at midday. It was the Dow's highest close since May 19, 2008, the last time it finished above 13,000. The Standard & Poor's 500 index edged up 2.91 points to 1,346.96. The Nasdaq composite rose 11.78 points to 2,915.86, its highest close since December 2000. After three days of delays, Greek government leaders met in Athens to go over a deal on steep cuts in public spending demanded by the country's lenders. European leaders will meet Thursday in Brussels to discuss a (euro) 130 billion bailout for Greece. Investors are worried Stocks rally from early losses to close higher Wall Street that Greece will default on its debt next month, which could roil financial markets and cause major losses for banks and other investors that hold Greek debt. Sev- eral deadlines have passed without an agreement. Stock trading has been relatively quiet this week after a slow but steady rise since the beginning of the year. The Dow has added 2 percent in February and is up 5.5 percent for the year. Rick Fier, vice president of stock trading at Conifer Securities in New York, said he wasn't that worried that the market's advance has slowed this week. The S&P 500 is still up 7.3 per- cent for the year, and has fallen on only eight days in 2012. Fier said he is con- cerned that the batch of earnings reports from U.S. companies for the last three months of last year ''hasn't been as robust'' as previous quarters. Revenue growth has slowed even though profits have been strong, he said. Walt Disney reported earnings Tuesday that beat analysts' estimates, but its revenue growth fell short. Movie revenue fell as Dis- ney released fewer big films in the quarter than in previous years. Revenue from DVD sales and inter- active media also declined. Disney's stock rose 0.7 per- cent nevertheless. Caesars Entertainment Corp., the big casino oper- ator, soared on its first day of trading. Caesars went as high as $17.90, nearly dou- ble its offering price of $9 per share. It finished at $15.39, up 71 percent, but lost some of the gains in after-hours trading. Caesars raised $16 mil- lion, a sliver of the more than $500 million its pri- vate owners hoped for when they first tried to go public in late 2010. Ralph Lauren rose 9 percent after reporting higher net income and rev- enue in the latest quarter, a sign that wealthy cus- tomers are still spending even as the economy strug- gles with high unemploy- ment. The purveyor of $1,000 dresses and hand- bags said holiday sales had been strong. Buffalo Wild Wings, a chicken-and-beer chain that has bucked the trend of weak revenue dogging many of its competitors, shot up 17 percent after reporting income and rev- enue that easily beat ana- lysts' estimates. Sprint Nextel, the phone company, fell 2 percent after reporting a fourth- quarter loss. It added sub- scribers but had to pay dearly for them. Sprint started offering customers iPhones, but it had to subsi- dize them so customers could buy them for as little as $99. OpenTable, which lets people book tables at restaurants online, plunged 12 percent. Investors had reservations about the com- pany's cautious outlook. Executives said they expect the growth to slow this quarter in the number of diners it seats. In other markets, Trea- sury prices were mostly flat, like stocks. The yield on the U.S. government's 10-year note was unchanged at 1.98 percent. The price of oil rose 0.3 percent to $98.71, and gold fell 1 percent to $1,736.20. Greek austerity talks stall on issue of pension cuts ATHENS, Greece (AP) —Crucial talks to discuss austerity cuts in Greece broke down after C & C PROPERTIES 741 Main Street, Suite #2 Red Bluff, CA 96080 1-800-287-2187 (530) 527-2187 An Independently owned and operated Member of Coldwell Banker Residential Affiliates. FOR 24/7 PROPERTY INFO CALL 1-888-902-7253 AND ENTER THE PROPERTY CODE FROM THE AD. FORECLOSURES AND HOMES UNDER $200,000 2BD 1BA 942 Sq Ft $65,000 Prop Code 4379 4BD 2BA $72,000 Prop Code 4079 2BD 2BA 1680 Sq Ft $79,500 Prop Code 4929 1BD 1BA 912 Sq Ft $82,000 Prop Code 4129 3BD 2BA 1950 Sq Ft $84,900 Prop Code 4499 3BD 1BA 1246 Sq Ft $85,000 Prop Code 4589 3BD 2BA 1125 Sq Ft $89,000 Prop Code 4059 3BD 2BA 1370 Sq Ft $94,000 Prop Code 4209 3BD 2BA 1152 Sq Ft $110,000 Prop Code 4169 3BD 2BA 1383 Sq Ft $114,900 Prop Code 4259 2BD 2BA 1248 Sq Ft $115,000 Prop Code 4949 3BD 2BA 1450 Sq Ft $119,000 Prop Code 4109 3BD 2BA 1152 Sq Ft $137,700 Prop Code 4099 2BD 2BA 1344 Sq Ft $140,000 Prop Code 4009 3BD 1BA 2200 Sq Ft $150,000 Prop Code 4049 3BD 2BA 2216 Sq Ft $189,000 Prop Code 4229 TEHAMA COUNTY REAL ESTATE TEAM • OPEN 7 DAYS A WEEK www.redbluffcoldwellbanker.com See All Tehama County Listings at eight hours Wednesday as leaders of the three par- ties backing the country's coalition government failed to agree to demands from interna- tional creditors for sub- stantial cuts to state and private pensions. Papademos left the meeting to negotiate with the 'troika' of Greece's creditors — the European Union, the European Central Bank and the International Monetary Fund — on the cuts need- ed for Greece to reach the fiscal targets prescribed by the troika for 2012. He is joined in the negotia- tion by Finance Minister The North State's premier supplier of stoves STOVE JUNCTION The Over 25 years of experience Your tax experts 32 Years Plus Experience "Enrolled to practice before the IRS" Open Year-Round New Clients Welcome Tues-Sat 9am-5pm • Closed Sun & Mon FIREPLACE PRODUCTS 22825 Antelope Blvd., Red Bluff 530-528-2221 • Fax 530-528-2229 www.thestovejunction.com www.lassentax.com Enrolled Agents: Rose Hablitzel, EA Rex Cerro, EA (530) 527-8225 208 Elm St., Red Bluff All major Credit Cards accepted Evangelos Venizelos and Labor Minister Giorgos Koutroumanis. A statement issued from office of Prime Min- ister Lucas Papademos' office says that the Prime Minister and the three leaders — socialist George Papandreou, con- servative Antonis Sama- ras and right-wing pop- ulist Giorgos Karatzaferis — ''agreed on all points (presented by the credi- tors) except one which calls for further discus- sion and elaboration with the troika.'' At stake is a (euro) 130 billion bailout that is vital if Greece is to avoid bankruptcy as early as late March. The leaders' talks hit a snag over a (euro) 300 million gap in cuts need- ed to reach the 2012 fis- cal target. The troika has proposed cuts in supple- mentary state and private pensions above a thresh- old level of (euro) 150. Private pensions in Greece are state-guaran- teed. Samaras has made clear his objections, proposing as an alterna- tive a (euro) 300 thresh- old plus ''fiscally equiva- lent measures.'' Among the proposals the leaders did accept is a 22 percent cut in the gross monthly minimum wage from (euro) 751 to (euro) 586, with the mini- mum wage dropping to (euro) 527 a month for those under 25. On leaving the meet- ing, Karatzaferis told reporters that ''I made my positions clear from the beginning...I wanted to support Mr. Samaras on that issue (pensions).'' Private media are reporting that, if Papademos' talks with the troika hit a snag, he will call the leaders on a meeting again, either overnight or early Thurs- day. COMPLETE AUTO REPAIR All makes and models. We perform dealer recommened 30K, 60K, 90K SERVICES AT LOWER PRICES Smog Check starting at $ (most cars and pick-ups) 2595 + cert. Pass or FREE retest 527-9841 • 195 S. Main St.