By Jason Simpkins Associate Editor Software giant Microsoft Corp. (MSFT) on Friday made an unsolicited $44.6 billion bid for search-engine-pioneer Yahoo! Inc. (YHOO). Microsoft has offered $31 per share in either cash or Microsoft stock, a premium of 62% over Yahoo’s closing price Thursday. Yahoo stock rose 53% in pre-market trading Friday, after plummeting 18% […]
Archives for February 2008
February 2008 - Page 15 of 15 - Money Morning - Only the News You Can Profit From
Banks Step In to Shore Up Bond Insurers’ Shaky Ratings
By Jennifer Yousfi Managing Editor Eight global banks have joined together to protect the credit ratings of bond insurers. Bond insurance is a $2.3 trillion industry and a downgrade of an insurer would in effect downgrade all of the investments underwritten by the firm. In an attempt to avoid that eventuality, New York Insurance Department […]
India’s State-Run IFCI Cancels Sale of 26% Stake
From Staff Reports State-run lender Industrial Finance Corp. of India Ltd. has shelved its proposed sale of a 26% stake, for which a consortium consisting of Morgan Stanley (MS) and Sterlite Industries of India Ltd. (SLT) had emerged as the lead bidder. “As the financial proposal submitted by the Sterlite Industries-led consortium was conditional, the […]
Decline in U.S. Jobs, Recession to Follow?
By Jennifer Yousfi Managing Editor Recession fears were fueled once again as a decline in U.S. jobs for January suggested the economy was weakening further. The news was especially troubling as consumer spending and strong employment have been the main hopes for skirting a recession. The U.S. Department of Labor released its Employment Situation Summary […]
Microsoft Stuns Yahoo! With $44.6 Billion Takeover Offer
By Jason Simpkins Associate Editor Microsoft Corp. (MSFT), the world's biggest software maker, has made an unsolicited $44.6 billion bid for search engine Yahoo! Inc. (YHOO). Microsoft has offered $31 per share in cash or Microsoft stock, a premium of 62% over Yahoo's closing price Thursday. Yahoo stock rose 53% in pre-market trading, after plummeting […]
Why You Should Root For the Giants This Sunday
By Jason Simpkins Associate Editor As Super Bowl Sunday approaches, gamblers worldwide are placing their bets. But nervous investors already have their own bets riding in the increasingly whipsawed U.S. stock market, and many are probably too distracted to worry about anything as trivial as a football game – even if it is the Super […]
Sail on to Profits Even Though January Barometer Predicts Stormy Weather Ahead
By William Patalon III And Jennifer Yousfi Money Morning Editors Bad January. Bad Year. And now that January 2008 is in the books, it's official: January was a losing month for the Standard & Poor's 500 Index. And if a longtime market axiom is true to form, it's going to be a rough year for […]
Vikram Pandit: Citigroup's '$27 Million Man'
By William Patalon III Executive Editor Money Morning/The Money Map Report Just six weeks after he took the helm of the biggest U.S. bank – and only one week after Citigroup Inc. (C) reported a $9.83 billion quarterly loss – the embattled lender granted newly minted Citi Chief Executive Officer Vikram Pandit nearly $27 million […]
It's Super Bowl Weekend and the NFL, NBA, MLB and NASCAR are Going Long With Foreign Forays
By Jason Simpkins Associate Editor The National Football League (NFL) has built an empire on American soil, one so profound that for a single Sunday each year – Super Bowl Sunday – the entire nation holds its collective breath. The NFL can well revel in its domestic dominance. But while it enjoys a decided home […]
Global Investing Roundups
MBIA CEO's Words Rally; MasterCard Rings Up Strong 4Q; Starbucks Scales Back; Home Depot Cuts Jobs; Volcker Edorses Obama; Japan Airline Takes Off; Google Disappoints; Cheers at Anheuser Busch MBIA Inc. (MBI) Chief Executive Officer Gary Dunton had reassuring words for shareholders on a conference call yesterday (Thursday), which addressed the bond insurer's $2.3 billion […]