Hi on Lowe’s
Shares of home-improvement retailer Lowe’s, which raised its sales forecast for the year, ended 6.2 percent higher at $33.96.
Sacre bleu!
Moody’s Investors Service downgraded France’s sovereign rating by one notch to Aa1 from triple-A, the agency said yesterday, citing the country’s uncertain fiscal outlook as a result of “deteriorating economic prospects.”
Mortgages
Five US banks have provided about $22 billion in mortgage relief to customers under a deal to settle borrowers’ accusations over foreclosures, a report by the settlement’s monitor said.
Juicier
Apple shares rose 7.2 percent to $565.73 as analysts said a two-month slide is not warranted, given the robust demand for the iPhone and iPad.
Correction
In court papers, Hostess, hurt by a bakers’ strike, claimed it would be unable to achieve a reorganization and would therefore pursue a liquidation. This information was incorrectly reported in a story on page 21 on Nov. 17.