By Jennifer Yousfi Managing Editor On the final day of the first quarter, stocks headed slightly higher on the back of higher energy prices. “The worst quarter since the first half of 2002 will be in the books at the close today, and not a day too soon,” Paul Nolte, director of investments at Hinsdale […]
Archives for March 2008
March 2008 - Money Morning - Only the News You Can Profit From
Pernod Ricard $8.9 Billion Bid for Vin & Sprit Group Adds Absolut Vokda, Debt
By Mike Caggeso Associate Editor France’s Pernod Ricard SA won a highly contested auction to buy V&S Group – makers of Absolut vodka and Cruzan rum – from the Swedish government for $8.9 billion, a stiff premium that doesn’t sit well with traders. Pernod Ricard’s shares dipped almost 4.5% today (Monday) on news of the […]
Don't Let the "Lost Decade" for Stocks Cause You to Lose Your Way
By William Patalon III Executive Editor Money Morning/Money Map Report For years, certain advisors have touted the "buy-and-hold" strategy as the pathway to optimal investment returns. While it's true that short-term gyrations can lead to temporary investment setbacks, any resulting losses can be overcome, since stocks always rise over the long haul. Or do they? […]
Don't Be Fooled by a Lull in M&A Activity, More Deals Are on the Way
By Jason Simpkins Associate Editor The U.S. buyout market is about to enter a new phase, as corporate takeovers pick up where private-equity firms left off last fall. The deal-making market is a key to the health of the U.S. stock market. During much of 2006 and 2007, it was the steady stream of private-equity […]
Wall Street Firms Taking Full Advantage of New Access to Fed Discount Window
By Jennifer Yousfi Managing Editor Wall Street firms borrowed on average more than $30 billion a day from the U.S. Federal Reserve discount window in the past week. It has only been two weeks since non-commercial banks, known as primary dealers, were first granted access to the discount window when the Fed made an emergency […]
European Antitrust Regulators to Review Nokia's $8.1 Billion Bid for Digital Mapmaker Navteq
By William Patalon III Executive Editor Money Morning/The Money Map Report European Union antitrust regulators have launched an in-depth investigation into Nokia Corp.'s (NOK) proposal to buy U.S. digital mapmaker Navteq Corp. (NAVT), expressing concerns the $8.1 billion deal could stifle competition in the red-hot market for navigation products and services. Story continues below… The […]
Beijing's $40 Billion Olympic Investment: How Investors Can Take Home the Gold
By Jason Simpkins Associate Editor The 85,000-mile relay that will culminate with the lighting of the Olympic torch got underway March 24. The torch will pass through five continents and 20 countries on its way to the Beijing 2008 Olympic Games. But the flame isn't just leading athletes and spectators to the games, it's also […]
South Korea' C&M Cable Scooped by MBK Partners and Macquarie Group for $2 Billion
By Mike Caggeso Associate Editor Private equity firm MBK Partners and Australia' Macquarie Group have completed a $2 billion joint acquisition of South Korea' second-largest cable television operator, C&M Co. Ltd. The companies targeted the TV operator position because of South Korea' sturdy and growing economy, which is quickly developing a taste for digital and […]
Brazilian Telecom Giant Could be in the Making
By Mike Caggeso Associate Editor After months of negotiations, Brazilian telecommunication titan Oi Participacoes (TNE) has reached an agreement to acquire rival Brasil Telecom (BRP), two newspapers reported Friday. The reported $4.6 billion deal would consolidate a rapidly growing industry in the emerging South American economy, giving Oi – also called Tele Norte Leste Participacoes […]
Midday Market Update: Stocks Rally in Early Morning Trading
By Jennifer Yousfi Managing Editor Stocks rallied in early morning trading today (Friday), buoyed by renewed confidence in the financial and technology sectors. At midday, the three major indices had pared some gains, but were still ahead. The blue-chip Dow Jones Industrial Average Index had posted a slight gain of 40.86 points (0.33%), to trade […]