Stories That Moved Monday's Market

by: Roy Mehta

The Markets:

Dow +27.31 (+0.21%)
Nasdaq -5.19 (-0.21%)
S&P 500 +4.55 (+0.32%)

Today's Stories:

  1. McDonald's (MCD, +1.7%) is planning to open coffee bars serving premium coffee beverages like lattes and cappuccinos, according to the Wall Street Journal. This will put the fast-food giant in direct competition with Starbucks (SBUX, +1.5%), which announced it will change its CEO Monday as well.
  2. Treasury Secretary Henry Paulson spoke Monday about the U.S. economy. In the speech, he reminded investors that "no single policy or action will undo the excesses of the last few years," referring to the state of the subprime lending markets and the housing slump. He said the corrections were necessary, but expects the U.S. economy to remain "resilient."
  3. Atlanta Fed President Dennis Lockhart spoke as well Monday, giving a less-positive outlook because of the uncertainty in both inflation and U.S. economic growth.
  4. CNet Networks (CNET, -1.4%) finished down after an erratic session caused by news that a group of the company's investors were looking to gain control of the online media company and oust the company's management.
  5. Anheuser-Busch Cos (BUD, +4.7%) reported strong 4th quarter sales. BUD's performance was helped by solid quarters from some of its foreign brands.
  6. Krispy Kreme (KKD, +11.3%) jumped after it announced it would name James Morgan as CEO.
  7. Microsoft (MSFT, -2.8%) founder Bill Gates gave the opening keynote speech at the Consumer Electronics Show on Sunday for the last time, as he plans on retiring this summer. He announced partnerships with a number of companies which will allow Microsoft to offer a wide range of media through Xbox's Live gaming and entertainment network.