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Article: MONEY & MARKETS
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- December 23, 2008
CopyrightCopyright 2008 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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The market wipes out last week's advance
Stocks fell, erasing last week's advance, as a deteriorating
outlook for
corporate earnings and real estate worked against expectations
that
the government's efforts to revive the economy will succeed.
Bleak
financial news from Toyota and Walgreen offered more evidence
that even the
stronger companies are struggling as consumers cut back on
spending.
MARKET MOVERS
Chain will grow slower after profit falls
Walgreen Co. said its quarterly
profit fell 10 percent to $408
million, or 41 cents per share,
because of the cost of opening
212 new drugstores. The company
plans to slow store openings
in fiscal 2010 to a rate of 4.5 to 5
percent, with growth of ...