As Wall Street eagerly awaited a monthly payroll report scheduled to be released tomorrow, it found a few good reasons to rally in the meantime. To start with, weekly jobless claims brought pleasant news, coming in at the lowest rate in more than five years. Combine that with the European Central Bank's decision to lower interest rates, and you've got two solid reasons for the S&P 500 Index's (SNPINDEX: ^GSPC ) 0.9% gains Thursday. Unfortunately, these three S&P components couldn't get with the program, suffering major losses.
Cliffs Natural Resources (NYSE: CLF ) leads today's list, slipping a further 5.7% after already suffering a nearly 5% fall yesterday. The iron ore miner and coal producer -- whose stock is already 90% more volatile than the broad market -- took a massive hit after Citi Research called for worrisome declines in coal prices through at least 2014. Citing "chronic oversupply," as well as softer projected demand from Europe and China, analysts see coal prices falling six percent this year, and 15% in 2014.
Best European Companies To Buy For 2014: Fidelity Bancorp Inc.(FSBI)
Fidelity Bancorp, Inc. operates as the holding company for Fidelity Bank, PaSB that provides a range of banking services in Pennsylvania. It primarily engages in generating deposits and originating loans. The company?s deposit products include savings accounts, demand deposit accounts, NOW accounts, money market deposit accounts, and certificates of deposit, as well as retirement accounts, including individual retirement account certificates and Keogh plan retirement certificates. Its loan portfolio comprises residential real estate loans, commercial and multi-family real estate loans, construction loans, and commercial business loans and leases, as well as installment loans, such as home equity and consumer loans. The company also involves in mortgage securitization transactions. As of September 30, 2010, Fidelity Bancorp provided its services through its main office in Pittsburgh, Pennsylvania, as well as 13 branch offices in Allegheny and Butler counties. The company w as founded in 1927 and is headquartered in Pittsburgh, Pennsylvania.
Best European Companies To Buy For 2014: Liberty Global Inc. (LBTYK)
Liberty Global, Inc. provides video, broadband Internet, and telephony services primarily in Europe and Chile. The company offers broadband services over cable distribution systems, including video, broadband Internet, and telephony; and video services through direct-to-home satellite, or through multichannel multipoint distribution systems. Its analog video services comprise basic and expanded basic programming; and digital cable services include basic and premium programming, digital video recorders, and high definition programming, as well as pay-per-view programming, such as video-on-demand and near video-on-demand. In addition, the company offers voice-over-Internet-protocol and circuit-switched telephony services, as well as mobile telephony services using third-party networks. Further, it owns programming networks that provide video programming channels to multi-channel distribution systems owned by the company and the third parties. As of December 31, 2011, the com pany owned and operated networks that passed 33,262,100 homes; and served 18,405,500 video subscribers, 8,159,300 broadband Internet subscribers, and 6,225,300 telephony subscribers. Liberty Global, Inc. was founded in 2004 and is based in Englewood, Colorado.
10 Best Undervalued Stocks To Own For 2014: Tower International Inc.(TOWR)
Tower International, Inc. operates as an integrated global manufacturer of engineered structural metal components and assemblies to automotive original equipment manufacturers. It offers body-structure stampings, frames, and other chassis structures, as well as complex welded assemblies for small and large cars, crossovers, pickups, and sport utility vehicles. The company?s products comprise body structures and assemblies that include structural metal components, such as body pillars, roof rails, and side sills; and Class A surfaces and assemblies that consist of body sides, hoods, doors, fenders, and pickup truck boxes. Tower International, Inc. also provides lower vehicle frames and structures, including pickup truck and SUV full frames, automotive engine and rear suspension cradles, floor pan components, and cross members; body-in-white assemblies, which comprise front and rear floor pan assemblies, and door/pillar assemblies; stamped, formed, and welded suspension com ponents, such as control arms, suspension links, track bars, spring and shock towers, shackles, twist axles, radius arms, stabilizer bars, trailing axles, and brackets; and other automotive products, and defense and aerospace products. It sells its products directly in North America, South America, Europe, and Asia. The company was formerly known as Tower Automotive, LLC and changed its name to Tower International, Inc. in October 2010. Tower International, Inc. was founded in 1993 and is headquartered in Livonia, Michigan.