Stocks drift lower after report on unemployment
Stocks fell modestly in early trading after the ADP National Employment Report said employment fell by 298,000 in August following a revised loss of 360,000 jobs in July. It was the smallest drop since September 2008, but ADP said employment is likely to decline for at least several more months.
The ADP jobs report is a closely watched precursor to the Labor Department’s crucial monthly reading on the jobs market, which is due Friday.
Aug. 31, 2009 (Business Wire) — Cobra Oil & Gas Company (NASD OTCBB:CGCA) (hereafter “Cobra”) – An updated research report has been issued on Cobra Oil & Gas Co. by Cohen Independent Research Group, Wall Street’s leading independent research firm, building off of July 21, 2009’s initial report. The latest report includes Cobra’s expansion of its Utah Oil Sands prospect and the addition of additional acreage, equating to a long-term price target of $4.42.
Cobra commissioned the updated report to Cohen Independent Research Group for the sum of $5,500. For the full report please visit Cohen Independent Research Group’s website, www.cohenresearch.com.