Global Investing Roundups American Eagle's 4Q Profit Drop, Beats Forecasts; Drake Considers Liquidating Major Hedge Funds; Biggest Budget Deficit in U.S. History; Gas and Oil Gush to New Highs; Microsoft's Virtual Acquisition; Southwest Grounded; Humana Halves Outlook; China Digital Profits on Deal with Intel Clothing retailer American Eagle Outfitters Inc. (AEO) reported a 6.4% drop […]
Archives for March 2008
March 2008 - Page 10 of 16 - Money Morning - Only the News You Can Profit From
Freddie Mac to Put Shareholders First
By Jennifer Yousfi Managing Editor Freddie Mac (FRE) management is committed to putting shareholder interests ahead of the flagging housing market, according to the mortgage lender's Chief Executive Officer Richard F. Syron. Speaking yesterday (Wednesday) before a group of analysts in New York, Syron reiterated his firm's commitment to its shareholders. He said the mortgage […]
Boeing Not Going Down Without a Fight, Files Grievance Over Lost Contract
By Jason Simpkins Associate Editor The Boeing Co. (BA) has filed a formal protest with the Government Accountability Office hoping to overturn a $35 billion contract awarded to its rivals by the U.S. Air Force, which Boeing is accusing of modifying its specifications to accommodate a larger plane. "This competition was seriously flawed and resulted […]
Caterpillar Raises Sales Forecast, Targets $40 Billion Global Infrastructure Boom
By Mike Caggeso Associate Editor Caterpillar Inc. (CAT) raised its sales forecast for 2010 to $60 billion, a 20% raise, and a sign of confidence that gave its stock a generous boost yesterday (Tuesday). The original forecast was $50 billion. The company kept its profit prediction at $8 to $10 a share in the next […]
Midday Market Update: Rally Extends into Second Day
By Jennifer Yousfi Managing Editor Wall Street extended yesterday's gains today (Wednesday) on the strength of the U.S. Federal Reserve's plan to inject more liquidity into the ailing credit markets. "The Fed has found the right mix to stop the spread of the credit crisis," Ken Tower, chief market strategist at Covered Bridge Tactical, told […]
Warehouse Clubs Profit as Economy Wanes
By Jennifer YousfiManaging Editor At a time when the flagging U.S. economy has savaged most of the retail sector, warehouse-club players Costco Wholesale Corp. (COST) and BJ's Wholesale Club Inc. (BJ) have managed to flourish. The two firms are the David and Goliath of the $200 billion warehouse club sector: Costco is the largest U.S. […]
With a Charge Into Visa IPO, Kuwait Would Become Latest Sovereign Fund to Boost its U.S. Financial Sector Role
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Kuwait's state-run investment fund is reportedly looking to invest in the upcoming Visa Inc. (V) initial public stock offering, a move that would boost the stake of government-controlled investment funds in the U.S. financial sector. The $18.8 billion IPO – currently scheduled for next Thursday (March […]
Fed Plan Sends Dow Soaring Over 400 Points
By Jennifer Yousfi Managing Editor News that the U.S. Federal Reserve will offer $200 billion in Treasuries in exchange for debt that includes mortgage-backed securities (MBS), increasing liquidity in the financial industry, spurred the markets to their largest rally in five weeks yesterday (Tuesday). "They're trying to put out fires to the best extent they […]
Dear Ben: To Save the U.S. Economy, Here Are the Moves You Need to Make Now
Last Wednesday, U.S. Federal Reserve Chairman Ben S. Bernanke told the Senate Banking Committee something that's becoming more evident by the day, "I don't know how to fix it." Bernanke was actually referring to the mark-to-market accounting rules that may be forcing the banks to take bigger write-downs than are actually warranted. But in my […]
Global Investing Roundups
China Inflation Hits 12-Year High; Weak Dollar Drives Export Growth; EU Clears DoubleClick Takeover; Egyptian Telecom Up 180%; SWFs to Surpass Central Banks; WellPoint Plunges; Audi Shifts Into High Gear; MS Head of Trading Out China's inflation rate continued to accelerate in February, as the nation's consumer price index (CPI) was up 8.7% from the […]