By Jason SimpkinsAssociate Editor Flooding in the Midwest has devastated much of the region's corn crop, and caused prices to skyrocket. However, major rice and wheat producers are expected to have bumper crops this year, offering some hope that food prices could soon recede. The price of corn for July delivery jumped Monday to an […]
Archives for June 2008
June 2008 - Page 6 of 13 - Money Morning - Only the News You Can Profit From
Boeing’s Air Force Petition Sustained, Back in Running for $35 Billion Contract
By Mike Caggeso Associate Editor The Government Accountability Office backed The Boeing Co.'s (BA) petition that the U.S. Air Force altered the auction for a $35 billion aerial-tanker contract – a bid that went to rivals Northrop Grumman Corp. (NOC), and in turn, helped push Boeing's stock down more than 11%. Boeing filed the complaint […]
More Trouble for Morgan Stanley with 56% Quarterly Earnings Loss
By Mike Caggeso Associate Editor Quarterly earnings at Morgan Stanley (MS) sunk a heavy 56% as falling institutional securities, declining investment-banking figures, and mounting trading losses hurt the second-largest U.S. investment bank. Shares were down 6.48% in pre-market trading on news that income from continuing operations fell to $1.03 billion, or 95 cents a share, […]
Money Morning's "Investor's Playbook": 68 Opportunities for Profit Over the Next 12 Months
By Mike Caggeso Associate Editor As the old Wall Street adage tells us: "The trend is your friend." There's one problem with that. By the time you recognize the trend and jump in, it's halfway played out – and you miss out on the maximum-possible gains. That's why the best investors are one step ahead […]
Buyer Beware: Why You Don't Want to Buy What Wall Street Banks Are Selling
By Martin HutchinsonContributing Editor Imagine that you're the investment director for one of the new sovereign wealth funds (SWFs). A very important guy – you get to invest several hundred billion dollars, with far fewer committees and shareholder interest groups harassing you than if you the head of U.S. institutions such as CalPERS or TIAA-CREF. […]
Global Investing Roundups
Goldman Beats Expectations; Rebate Checks Boost Best Buy; Hershey Looking Long Term; InBev's CEO: Take it or Leave it; Canadian Solar Heats up Outlooks; Computer Design Bid; Wal-Mart Pares Back Spending; Crude Dips from High on Supply & Demand Goldman Sachs Group Inc. (GS), the world's largest investment bank, said yesterday (Tuesday) that second-quarter earnings […]
China and U.S. Commence Trade Talks with $14 Billion in Deals, but Loose Ends Remain
By Jason SimpkinsAssociate Editor The United States and China got their fourth round of economic dialogue off to a good start yesterday (Tuesday), with the announcement of $14 billion in business deals. However, several points of tension ranging from currency devaluation to investment restrictions must still be resolved. Two delegations, one led by U.S. Treasury […]
Stagflation Worries Loom as Inflation Soars and Housing Remains Weak
By Jennifer Yousfi Managing Editor Another round of troubling economic data indicates the U.S. Federal Reserve must act wisely in order to avoid a period of stagflation. Producer prices rose again in May, while housing starts continue to be at a record low. The United States last experienced soaring inflation coupled with a stagnation of […]
Cashing in on Commodities: Gold May Glitter, But Heavy Metals Shine
By Jason Simpkins Associate Editor Editor's Note: This is the seventh installment of a new Money Morning series highlighting investment opportunities in the global bull market for commodities. When it comes to the worldwide metals market, gold may get all of the attention but other, more durable, metals such as steel and iron have proved […]
Saudi Arabia’s Promise to Open the Oil Spigot is Nothing But Spin
By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report First it called for a meeting of oil producers and oil consumers. Now Saudi Arabia has proposed a boost in oil production. At the end of the day, however, neither of these moves will have any real impact on the ongoing escalation in oil prices. Let me […]