By Jason Simpkins Staff Writer A lengthy investigation by French regulators suggests that "massive insider trading" took place at Airbus SAS parent EADS, the Associated Press reported yesterday (Wednesday). Louis Gallois, EADS Chief Executive, pointed out that the findings were preliminary. But if confirmed, it would be a devastating blow to both EADS and Airbus, […]
Archives for October 2007
October 2007 - Page 12 of 13 - Money Morning - Only the News You Can Profit From
Savaged Garmin Battles Back With Cell Phone Navigation Software
From Staff Reports In one of those ultimate business ironies, just days after its shares were pounded by investors over fears it would flounder because of competition from "smart" cell phones, GPS-maker Garmin Ltd. (GRMN) yesterday (Wednesday) introduced a $99 software package that turns "smart" wireless phones into high-end navigation units. The shares of the […]
Avoid the 'Resurgent' Homebuilding Sector and Go Global for Profits
By William Patalon III Managing Editor Money Morning/The Money Map Report Invest in the homebuilding sector at your own risk. U.S. homebuilders such as D.R. Horton Inc. (DRI), KB Homes (KB) and Pulte Homes Inc. (PHM) capped the sector's biggest two-day advance since August yesterday (Tuesday), thanks to a growing investor belief that the worst […]
Pending Home Sales Hit Record Low in August; Stocks Mixed
By Jason Simpkins Staff Writer The pending home sales index fell to a record low in August, notching the lowest showing in six years, the National Association of Realtors said yesterday (Tuesday). The index, which forecasts near-term home sales, registered 85.5. That's down from a revised 91.4 in July, according to The Associated Press. Despite […]
Gazprom Highlights Foreign Investment Risks, Threatens Europe - Again
By Jason Simpkins Staff Writer In a story that underscores the risks investors face with emerging-markets investments, OAO Gazprom, Russia's energy giant, is up to its old tricks and is once again threatening to cut gas supplies to the Ukraine, in an effort to extort payment, Bloomberg News reported. It's an issue that Money Morning […]
Japanese Stocks Rise Today on Buyout, Credit-Market Optimism
Untitled Document From Staff Reports Japanese stocks rose today (Wednesday) – led by financial shares – after Citigroup Inc. said it will buy out the rest of venture-partner Nikko Cordial Corp., and because investors there believe the worst of the U.S. mortgage crisis is likely now over, according to Bloomberg News. Earlier today the bellwether […]
Fluor to Build Polysilicon Plant in China
Untitled Document From Staff Reports Site preparation has begun for a Xinyu City, China, polysilicon production plant that will be located adjacent to LDK Solar Co. Ltd.'s (LDK) existing solar wafer manufacturing facilities. Fluor Corp (FLR), the U.S.-based engineering-and-construction company, said it landed a contract worth more than $1 billion to provide engineering, design and […]
Jim Rogers Warns of Fallout From Fed Cuts; Says to Seek Profits in Commodities, Asian Currencies
By William Patalon III, MBA Managing Editor Money Morning/The Money Map Report It was definitely a 'Tale of Two Markets' yesterday. And despite that phrase's similarity to the Dickensian classic novel, it wasn't legendary author Charles Dickens who was dominating my thoughts as the market closed yesterday (Monday). It was legendary Contrarian investor Jim Rogers. […]
Wheat's Forecasted Price Drop Highlights Profit Plays in Commodities
By Mike Caggeso Staff Writer The doubling of wheat's price in the past year – combined with recent forecasts for price declines – have turned wheat's wholesome image into a volatile one. And depending on where you live, you'll hear a different story. In Australia, the world's second-largest wheat exporter, droughts have cramped the yearly […]
Citigroup and UBS Brace For Losses, but Dow Jones Sets Record Above 14,000
By Jason Simpkins Staff Writer On a day that two huge banks took major profit hits because of the subprime market crisis, stocks soared to record highs yesterday (Monday) on the belief that the worst of the ensuing credit crisis had passed. Citigroup (C) and UBS AG (UBS), the largest banks in the United States […]