By William Patalon III and Mike Caggeso Money Morning There's a surprising new addition to the long list of industries stung by the U.S. housing slump and the accompanying mortgage crisis: The semiconductor sector. The housing sector's ills were alleged to have spread to the semiconductor market this week when Microchip Technology Inc. (MCHP) was […]
Archives for October 2007
October 2007 - Page 9 of 13 - Money Morning - Only the News You Can Profit From
Eleven Ways to Profit From the Falling U.S. Dollar
By Keith Fitz-Gerald Contributing Editor Every year I talk with thousands of investors around the world and invariably the Number One question I'm getting lately is: "What's up with the dollar?" That's completely understandable. But it's actually what's "down" with the dollar that matters when it comes to setting the stage for your own global […]
Strike of 31,000 Chrysler Union Workers Ends After Six Hours With a New Agreement; GM Workers Ratify Their Union Deal
By Mike Caggeso Staff Writer It took a six-hour strike to get it done – with more than 31,000 members of the United Auto Workers walking out on their jobs at the newly private automaker, Chrysler LLC, at 11 a.m. yesterday (Wednesday) – but the company and the union reached agreement on a tentative four-year […]
Google’s Stock Eclipses 600, Analysts Already Calling for 700
By Mike Caggeso Staff Writer Shares of search-engine Google Inc. (GOOG) leaped over the $600 mark for the first time Monday, peaking at $623 yesterday (Tuesday), before closing at $615. Google hit this new high-water mark less than three weeks after Money Morning featured a story about analyst and media writer Paul R. La Monica, […]
Beware of This Fed-Led Stock Market Rally
By Keith Fitz-Gerald Contributing Editor Money Morning/The Money Map Report As a professional trader, I’m never far from my trading screens. But I find that I’ve been watching them even more intently than usual over the past few days. When I take a step back and attempt to assess just why I seem to be […]
Fed’s Minutes Reveal a Unanimous Decision to Slash Rates
By Jason Simpkins Staff Writer Fed policymakers – concerned the credit crunch and housing slump could take a heavy toll on economic growth – voted unanimously to cut interest rates by half a percentage point at their Sept. 18 meeting. Fed policymakers unanimously agreed to slash interest rates by one-half percentage point to 4.75 percent, […]
Yum Brands Shares Soar For Second Day on China-Fueled Earnings Surprise
From Staff Reports Yum Brands Inc. (YUM), the former PepsiCo (PEP) spin-off and current operator of the Pizza Hut, KFC and Taco Bell chains, saw its shares soar $1.82 each, or 5.02%, to close at $38.11 yesterday (Tuesday), after reporting better-than-expected earnings on Monday. Yum Brands attributed much of the growth to higher-than-forecasted revenue and […]
Minsheng Becomes First Mainland China Bank to Invest in a U.S. Bank
By Keith Fitz-Gerald And William Patalon III Money Morning In a trendsetting deal that gives U.S. investors a direct play on mainland China’s fast-growing financial muscle, China Minsheng Banking Corp. Ltd. will acquire a 9.9% stake in San Francisco’s UCBH Holdings Inc. (UCBH), making this the first Chinese investment in a U.S. bank. The deal […]
Insiders Say Chrysler LLC Will Cut Jobs in Lieu of Possible Strike
From Staff Reports Declining domestic auto sales may lead to Chrysler LLC, the third-largest U.S. automaker, to cut 1,500 salaried and contract jobs, Bloomberg News reported yesterday (Tuesday), citing unnamed sources close to the company’s strategy. These cuts are in addition to the 13,000 projected job cuts the newly private Chrysler already announced it would […]
Northern Rock Buys Time Before Getting Bought Out
From Staff Reports Citigroup Inc. (C) is preparing to lend Northern Rock PLC – the United Kingdom bank bailed out by the Bank of England – $20.4 billion so it can buy time for a buyout, according to news reports from both Bloomberg News and the Financial Times. Northern Rock desperately needs to refinance 14 […]