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Wednesday, July 29, 2009
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Trouble for school suppliers School-products suppliers may bring home a disappointing report card this school year, as severe cuts to education budgets by many states and uncertainty about the distribution of federal stimulus funds could hurt results. REUTERS
Fed approval rate worse than IRS
. Americans think the Federal Reserve is doing a worse job than even the much-maligned Internal Revenue Service. Only 30 percent of Americans think the Federal Reserve’s Board of Governors is doing a good job despite the central bank’s unprecedented efforts to battle a crippling recession, according to a Gallup Poll released yesterday. REUTERS
Cultivating success in Facebook’s shadow?
What do you do when you’re a small online social network trying to compete against a behemoth like Facebook? The answer may be to try to carve out a separate path by becoming a niche Web site for a specific audience base that advertisers, hopefully, want to target. While this is no easy challenge — given Facebook’s intention to become everything to everyone — some small social media sites appear to be finding their footing and growing at rapid rates, albeit from a very low base. Ning.com, which allows users to build their own social networks, opinion aggregator Sodahead and fan site Fanpop have shown triple-digit growth and notched up a few million
Stocks end with mixed results
. The Dow and the S&P 500 dipped yesterday as investors shrugged off weak consumer confidence data and focused on positive earnings reports. Stocks recovered most of the session’s losses late in the day, led by the health care sector. Investors snapped up biotech shares a day after Amgen’s strong quarterly earnings report. REUTERS
Market Moment
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Buying
Consumer mood darkens in July
. U.S. home prices rose in May for the first time in three years, the latest sign suggesting the battered housing market is stabilizing, but a weakening job market hit consumer confidence in July and could prevent near-term economic recovery. REUTERS
– , Smaller niche social networking sites are hoping to latch on to the popularity of Facebook.
. . S&P
+ . , . Light, sweet crude oil $67.23 (– 1.68%) Gold contracts $937.00 (– 1.76%)
users very quickly. “There will always be a place for niche sites that have a focus, whether the focus is gaming, or a regional focus, or a functional focus like Twitter,” Gart-
ner analyst Ray Valdes said, though he added that does not see them becoming as big as Facebook. But according to Chuck Schilling, a director at Nielsen Online, some peo-
ple are becoming disenchanted with Facebook. “People are branching out from the popular sites. They are exploring,” he said. “There’s a lot of room in the game.” REUTERS
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