By Jennifer YousfiManaging Editor Crude oil futures hit a 3-month low on expectations of a continued dip in demand and a stronger U.S. dollar. Crude oil for September delivery yesterday (Tuesday) dropped $2.57, a decline of 2.1%, to settle at $122.16 a barrel on the New York Mercantile Exchange, Bloomberg News reported. Earlier in the […]
Archives for July 2008
July 2008 - Page 2 of 12 - Money Morning - Only the News You Can Profit From
Merrill Lynch Turns to Temasek for Another Stock Purchase, Unloads $31 billion in CDOs
By Jason Simpkins Associate Editor Merrill Lynch & Co. Inc. (MER), the third-largest U.S. securities firm, has announced a plan to shore up its credit ratings and raise capital by offloading $31 billion in collateralized debt obligations (CDOs), issuing an $8.5 billion stock offering, and courting yet another cash infusion from Temasek Holdings Pte., Singapore's […]
Global Investing Roundups
Verizon Helped by Wireless Sales; Kraft Produces Profit; Raytheon Teams with NASA; Ryanair Crashes and Burns; Dow Dives 240 points; Oil Rallies on Political Tension; White House Lowers Growth Estimate; Amgen Profit Slides Verizon Communications Inc. (VZ) reported strong quarterly profit boosted by wireless sales. Second-quarter profit was $1.88 billion, or 66 cents a share, […]
LBO Pioneer KKR Goes Public
By Jennifer YousfiManaging Editor Private-equity firm Kohlberg Kravis Roberts & Co. plans to go public by year-end as part of its plan to bail out the company's struggling Euronext-listed investment fund. KKR Private Equity Investors (PINK: KPEQF), which has lost 40% of its value year-to-date and is currently listed on Euronext Amsterdam, will be dissolved […]
Why Dark Pools May Render Traditional Analytics Ineffective
By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report "Why don't my traditional analytics work as well anymore?" It's a question I get a lot. But chances are, it's not your analytics that have broken down. It's your execution that's not keeping up. Let me explain. In the past several years, we've witnessed an explosion in […]
Congress Mortgages the Economy's Future to Save Fannie Mae and Freddie Mac
By Peter D. SchiffGuest Columnist With President Bush no longer threatening a veto, the subprime mortgage and Fannie Mae (FNM) and Freddie Mac (FRE) "bailout" bill sailed through Congress. In anticipation of its enactment, Congress had the foresight to raise the national debt limit to $10.6 trillion. Who says that politicians don't plan ahead? Once […]
Obama and McCain Shift Focus to U.S. Economy
By Jason SimpkinsAssociate Editor Now that presidential hopeful Barack Obama has returned from a tour of the Middle East and Europe, he and his Republican rival, John McCain, are squaring off on the status of the U.S. economy, which has become the most pervasive domestic issue in the 2008 campaign. Obama met with a panel […]
Wind Power: Pickens Lobbies, While China Acts
By Jennifer YousfiManaging Editor Wind power should account for 20% of U.S. energy needs within a decade – compared with virtually nothing now – as the country’s energy needs are increasingly taken care of by sources of alternative energy, former Texas oilman-turned-wind-power-entrepreneur T. Boone Pickens told Congress last week. Speaking before the Senate Homeland Security […]
Second Quarter GDP Release Set to Confirm or Deny U.S. Recessionary Fears
By William Patalon III Executive EditorMoney Morning/The Money Map Report A hectic week on the economic calendar is highlighted by the initial look at second quarter gross domestic product (GDP). Remember, a recession is defined as two consecutive quarters of negative growth, so doomsayers have targeted this week’s release as confirmation of their pessimism. Fortunately, […]
FCC Approves Sirius-XM Satellite Radio Merger Late Friday
From Staff Reports The Federal Communications Commission late Friday granted Sirius Satellite Radio Inc. (SIRI) approval to complete its $3.3 billion purchase of XM Satellite Radio Holdings Inc. (XMSR), ending a 16-month-long political drama and making it possible for the nascent business to start operating at a profit. According to Reuters, and other news services, […]