Money & Markets modules for Wednesday, July 3

Money & Markets modules for Wednesday, July 3

TODAY

Economists are projecting that fewer Americans sought unemployment benefits last week.

COMPANY SPOTLIGHT

Capital One to buy back $1B in stock

Capital One Financial is joining the list of companies buying back common stock. The credit card issuer said Tuesday that it will buy back up to $1 billion of its stock after completing the sale of its Best Buy private label and co-branded credit card accounts.

CENTERPIECE

Cloudy skies

The Federal Reserve has been the center of attention for weeks, but investors will soon shift their focus to corporate earnings. Second-quarter earnings season will get its traditional kickoff on Monday when Alcoa reports results after the market closes.  Corporate America continues to lower investor expectations; nearly 80 percent of the companies that have issued guidance for the second quarter have offered a negative outlook.

STORY STOCKS

Acuity Brands (AYI)

Constellation Brands (STZ)

Zep (ZEP)

Greenbrier (GBX)

DaVita HealthCare (DVA)

Zynga (ZNGA)

Achillion Pharma. (ACHN)

A. Schulman (SHLM)

FUND FOCUS

Vanguard Capital Opportunity (VHCOX)This fund was reopened in April, nine years after Vanguard closed it to new investors. It's one of the best large-cap growth funds out there, says Morningstar.

QUESTION OF THE DAY

Priceline.com hit a 14-yr high on Tuesday, would you invest $1,000 for the long-term?

a) yes

b) not sure

c) no

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