[“Hot Stocks” is a new Money Morning feature that analyzes the investment outlook of global companies that are in the news. This is the inaugural installment of this new investment series.] By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report After watching its shares plunge more than 20% over the past month, International Business Machines […]
Archives for October 2008
October 2008 - Page 10 of 14 - Money Morning - Only the News You Can Profit From
Credit Crisis Update: Markets Plunge on Costly Credit, Paulson to Buy Bank Shares, IMF Warns of Global Recession
By Jennifer YousfiManaging EditorMoney Morning Global markets had deep sell-offs yesterday (Tuesday) as short-term credit markets remained tight, with the three-month lending rate for banks hitting a yearly high. The London Interbank Offered Rate (LIBOR) for three-month dollar-denominated loans hit 4.75%, its highest rate so far this year. The LIBOR rate for overnight lending dropped, […]
Global Investing Roundups
OPEC to Meet in November; Iceland Melts Down; Unemployment Improves; Micron Makes Cuts; National City Next to Fall?; No Christmas Cheer for Retailers The Organization of Petroleum Exporting Countries, which produces 40% of the world’s oil, is “very likely” to cut its crude production at its next meeting on Nov. 18, according to the group’s […]
Italy Shores Up Banking Sector as Recession Looms
By Jason Simpkins Associate Editor Italy yesterday (Thursday) became the third European country in two days to offer funds to at-risk banks in a bid to restore investor confidence, promote market stability and save its economy from a prolonged recession. In following Great Britain and Spain, Italy’s government “will take all measures necessary to stabilize […]
Credit Crisis Update: An Inside Look at the Commercial Paper Debacle
By Shah GilaniContributing EditorMoney Morning The commercial paper market is the thoroughfare where Wall Street merges into Main Street. Corporations, finance companies and banks rely on Main Street investors for the cash they deposit into money-market funds and other short-term investment vehicles. Ultimately, that cash buys the commercial paper that’s issued to help fund everything […]
U.K. Unveils Its Own Banking Bailout Package
By Jennifer YousfiManaging EditorMoney Morning The U.K. government yesterday (Wednesday) announced its own banking bailout package with an $87 billion (50 billion pound) recapitalization plan for the ailing British financial sector. “The global market has ceased to function,” British Prime Minister Gordon Brown said yesterday at a press conference in London. “The banking system must […]
Federal Reserve Joins Central Banks Around the World in Cutting Rates, but Is It Too Late?
By Jason Simpkins Associate Editor Central banks around the world yesterday (Wednesday) announced a coordinated reduction of their respective interest rates in a bid to restore investor confidence and put an end to the worst market rout since the Depression era. However, analysts and investors alike are skeptical that even the largest coordinated effort by […]
Global Investing Roundups
Symantec Upgrade; Monsanto Sees Credit for Crops; AIG’s Costly Retreat; Wells and Citi Extend Ceasefire; Pending Home Sales Climb; Crude Hits Lowest Level in 2008 Symantec Corp. (SYMC) was upgraded to “overweight” from “neutral” by a JPMorgan Chase & Co. (JPM) analysts yesterday (Wednesday). "We are upgrading shares of Symantec… as the shares have fallen […]
Dubai Developer Nakheel Going For World Record With Newly Planned Kilometer-Tall Tower
By William Patalon III Executive Editor Money Morning/The Money Map Report Dubai luxury developer Nakheel PJSC on Sunday unveiled plans for a tower that will stand a full kilometer (3,280 feet) in height, beating the world record that’s already held by the booming city-state. Sultan Ahmed Bin Sulayem, chairman of Dubai World, a holding company […]
Election 2008: Who Will Get to Spend the $700 Billion?
[“Election 2008" is an ongoing Money Morning series that examines the investor implications of the presidential election campaign.] By Martin HutchinsonContributing EditorMoney Morning The market’s verdict on the $700 billion bailout was pretty clear: Stock prices started dropping the moment the bill was passed on Friday afternoon and continued to do so Monday, with the […]