ConocoPhillips Pumps Profit; Pepsi Sales Improve; Amazon Profit Doubles; Oil Continues to Slide; Northwest's Almost Profit; Beige Book's Got the Blues; China's Google Scores on Olympic Traffic; Chrysler Cuts Jobs ConocoPhillips' (COP) second-quarter profit climbed 13% on the back of record high oil prices. Net income rose to $5.44 billion, or $3.50 a share, for […]
Archives for July 2008
July 2008 - Page 4 of 12 - Money Morning - Only the News You Can Profit From
Do You Believe in Magic? McDonald’s Global Makeover Supersizes Profits
By Jason SimpkinsAssociate Editor McDonald’s Corp. (MCD) fried analysts’ estimates yesterday (Wednesday) swinging to a better-than-expected second quarter profit largely bolstered by strong overseas sales. McDonald’s reported profit of $1.19 billion, or $1.04 a share, compared with a loss of $711 million, or 60 cents a share, for the same period a year ago. Revenue […]
European Automakers Turn to Emerging Markets to Offset Weak Sales at Home
By Jennifer YousfiManaging Editor A trio of European automakers, including Volkswagen AG (OTC ADR: VLKAY), yesterday (Wednesday) released stronger than expected second-quarter results based on strong car sales in emerging markets. In addition to Germany’s Volkswagen, France’s PSA Peugeot Citroen SA (OTC ADR: PEUGY) and Italy’s Fiat SPA (OTC ADR: FIATY) reported yesterday, and reaffirmed […]
Chevron Says Hurricane Dolly Evacuation Won't Affect Company's Gulf Oil Production
Chevron Corp. (CVX) – the No. 2 U.S. oil company and the most-recent topic of Money Morning's new "Buy, Sell or Hold" feature – said that a hurricane-induced evacuation of its personnel from the Gulf of Mexico should not hamper production. Chevron on Monday said it was evacuating employees from its Gulf operations in advance […]
Global Investing Roundups
Wachovia Cuts Dividend and Jobs; Caterpillar Builds a Global Business; Home Prices Collapse; UPS Delivers More Revenue, Less Profit; Fed Directors Split; Oil Hits Six-Week Low; UAL Stock Soars; Two For, One Against Satellite Radio Deal Wachovia Corp. (WB) said yesterday (Tuesday) that it lost $8.86 billion in the second quarter and would be forced […]
Dubai: More Bubble or More Boom? Time Will Quickly Tell
By Martin HutchinsonContributing Editor Dubai has plenty of qualities that catch an investor’s eye. The emirate has the world’s only (self-proclaimed) 7-star hotel. Dubai also is home to the biggest financial market in the Middle East, which is itself publicly quoted and trades at 25 times forecast 2008 earnings. It has been enjoying one of […]
Inside Wall Street: The Real Reason the Federal Reserve Can’t Raise Interest Rates
By Shah GilaniContributing Editor Given that the U.S. Federal Reserve is the master of “Three-Card Monte,” can you tell what’s in the cards for short-term interest rates? Three-Card Monte is a confidence game in which manipulation and misdirection are employed as the “mark” tries to guess where the “money card” is among the three facedown […]
GE Redefines its Business by Breaking with Tradition and Expanding Overseas
By Jason SimpkinsAssociate Editor General Electric Co. (GE), which is reevaluating its operations after two consecutive quarters of sub-par earnings, will advance its presence in the Middle East by partnering with Abu Dhabi’s Mubadala Development Co. to create an $8 billion commercial finance fund. “What it allows us to do is get good geographic and […]
Paulson Continues to Advocate Potential $25 Billion Bailout of Fannie Mae and Freddie Mac
By Jennifer YousfiManaging Editor A government-backed rescue of Fannie Mae (FNM) and Freddie Mac (FRE) could end up costing $25 billion in taxpayer money according to a letter released yesterday (Tuesday) by the Congressional Budget Office (CBO). The letter from the CBO, addressed to Congress, stated there is “a significant chance — probably better than […]
Pledge to Hedge: A High-Tech Way to Boost Your Vehicle's Gas Mileage
Editor's Note: This is the third installment of an ongoing series. By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report I begin today with a startling number: 5.2. That's the percentage my gas mileage improved when I added Pulstar Pulse Spark Plugs to my 1991 Mazda Miata. Made by the Albuquerque, N.M.-based Enerpulse Inc., […]