By Jason Simpkins Associate Editor Until recently, Chairman Ben S. Bernanke was charged with the unenviable job of balancing the need to sustain economic growth in the face of mounting inflationary pressures. But the developments of this past weekend have drastically altered the economic landscape and recent activity will certainly guide the Federal Open Market […]
Archives for March 2008
March 2008 - Page 8 of 16 - Money Morning - Only the News You Can Profit From
Financial Confidence Crisis Clutches Markets, Sends Stocks Plummeting
By Jennifer Yousfi Managing Editor Global financial stocks plunged, dragging world markets lower yesterday (Monday) as the collapse and subsequent sale of The Bear Stearns Cos. Inc. (BSC) stoked new fears about the world credit markets. “If you get a crisis of confidence in the wholesale banking space and something the size of Bear Stearns […]
Visa’s Record IPO Shaping Up as a Profitable Play for Long-Term Investors
By William Patalon III Executive Editor Money Morning/The Money Map Report If the initial public offering of credit-card processor Visa Inc. (V) goes off as scheduled tomorrow (Wednesday), it will be the biggest stock offering in U.S. history. And it could supercharge a moribund IPO market that’s been held down by the same credit-market concerns […]
Goldman Sachs Follows Money Morning Prediction That Oil Prices Could Approach $200 a Barrel
By William Patalon III Executive Editor Money Morning/The Money Map Report Just days after Money Morning Investment Director Keith Fitz-Gerald reiterated his prediction that oil prices would reach $187 a barrel within 36 months, Wall Street giant Goldman Sachs Group Inc. (GS) issued a report predicting crude oil prices would reach $175 in the next […]
Surprise Rate Cut And Bear Stearns Buyout Inspires Investor Skepticism, Not Calm
By Jennifer Yousfi And William Patalon III Money Morning Editors In a surprise move yesterday (Sunday), the U.S. Federal Reserve announced that it had cut the Discount Rate by a quarter of a percentage point – a key element of a three-point financial package that includes the takeover of troubled investment bank Bear Stearns Cos. […]
Oracle of Omaha Discloses Annual Salary
By Jennifer Yousfi Managing Editor For the 27th year in a row, Berkshire Hathaway Inc. (BRK.A, BRK.B) Chairman Warren Buffett received an annual salary of $100,000. In addition, Buffett received no bonus or stock options for heading up one of the most successful investment vehicles in the world, as Berkshire Hathaway profit increased 20% in […]
Analysts Anticipate an International Intervention to Rescue Falling Dollar
By Jason Simpkins Associate Editor Central banks around the globe could launch an initiative to buoy the dollar, as the greenback’s continued slide seems to warrant foreign intervention. “We’re on intervention watch,” Stephen Jen, head of foreign exchange research at Morgan Stanley (MS), said in an interview with Bloomberg News. “While I don’t think we […]
Citigroup’s Shares Are Finally Poised For a Rebound
By William Patalon III Executive Editor Money Morning/The Money Map Report It’s time to take a close look at Citigroup Inc. (C). That’s been the mantra of several commentaries here at Money Morning. But now, Punk, Ziegel & Co. LP analyst Richard X. Bove has made much the same recommendation. As readers know from our […]
IMAX Posts Write-Down Induced 4Q Loss; Targets 2008 Infrastructure Growth for the Long-Term
By Mike Caggeso Associate Editor A $4 million write-down bludgeoned fourth-quarter earnings of Canada-based IMAX Corp. (IMAX) – Canada’s large-screen film production company – which posted a net loss of $10.1 million, or 25 cents a share. The write-down was related to old film-based equipment as the company continues its shift into digital-based technology. Excluding […]
With Bear Stearns Deal and New Game Plan, Fed Raises New Fears About Credit Crisis
By William Patalon III Executive Editor Money Morning/The Money Map Report With Friday’s near collapse and yesterday’s (Sunday’s) outright sale of The Bear Stearns Cos. Inc. (BSC), investors are having to ask themselves this one question: Are we finally reading the last chapter of the U.S. credit crisis, meaning the end is finally in sight? […]