Ferro Corp. Resists Takeover Bids

Last week a majority of traders thought that sequestration would overwhelm the financial markets, causing some type of a correction in the equity markets. Unfortunately for them and many others that shorted the equity indexes, there was no fear at all, just conviction in a U.S. led equity rally that is nearing all-time highs. Some of the surge upwards is attributable to the Federal Reserve’s ultra dovish stance, as there is no doubt at all that Bernanke and company will be providing tons of liquidity in the near-term. The other part of the bullish equation to all-time highs is the economic data, as it has been coming in handily above expectations. Last week, housing data, consumer confidence, capital good orders, initial jobless claims, Chicago Purchasing Manager and ISM manufacturing, all came in well-above consensus......

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