Estimates for weekly jobless claims could not have been much more accurate. The Labor Department says there were 346,000 new claims last week when estimates were for 345,000. The release comes on the heels of the ADP payroll report yesterday which showed just 135,000 new private sector jobs created in May, well below estimates. Of course tomorrow is the government's monthly jobs report. Make sure to tune in at 8:30 for special live expanded coverage right as the numbers are released.
First a pop, then a fizzle. SodaStream (SODA) leapt more than 30% this morning on word of a possible takeover. But now that report has been debunked. An Israeli website said that Pepsi (PEP) was in talks to buy the maker of home soda machines. Also, that Goldman Sachs was overseeing the talks. But Pepsi CEO Indra Nooyi says the report is completely false. SodaStream is now up just about 6% in early trading, but has previously climbed 48% year-to-date. Shares have been up nearly 98% over the past year.
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