Iberia Takes Flight; Ralcorp Posts Up; Telmex Ready for Battle Spain's largest airline, Iberia Lineas Aeraes de Espa (IBRLF), has become the subject of a takeover offer from a group of investors for $4.4 billion (3.7 billion euros). The group is led by Gala Capital Partners Equity and includes Spanish millionaire Alicia Koplowitz. The private […]
Archives for November 2007
November 2007 - Page 6 of 13 - Money Morning - Only the News You Can Profit From
GE Money Fund Breaks the Buck; Others Scramble to Cover Losses
By Jason Simpkins Associate Editor A short-term institutional bond managed by General Electric Asset Management suffered such extreme losses from mortgage and asset-backed securities that it has offered investors the option of redeeming their holdings at 96 cents on the dollar. Barron's first reported the losses in the General Electric (GE) fund on Wednesday. The […]
Flood of Financial-Sector Write-downs Continue, Causing Stocks to Swoon
By Mike Caggeso Associate Editor Financial institutions dominated the headlines yesterday (Thursday), with yet another round of write-down worries – this time related to the banks’ fourth-quarter results. Investors and analysts believe Citigroup Inc. (C) may face $8 billion to $11 billion in fourth quarter write-downs, according to the Wall Street Journal – a huge […]
Troubled Merrill Lynch Taps NYSE Head John Thain as its New CEO
By Mike CaggesoAssociate Editor A Wall Street investment bank yesterday (Thursday) upgraded its ratings on Merrill Lynch & Co., Inc. (MER) after the company announced it filled its empty chief executive officer slot with John Thain, CEO of the NYSE Euronext (NYX). Credit Suisse Group (CS) raised its rating of Merrill Lynch shares from "Neutral" […]
GPS Leader Garmin Weighs Counterstrike in Crucial Battle For Digital Mapmaker Tele Atlas; Settles Patent Dispute With Rival TomTom
By William Patalon III Managing Editor Money Morning Garmin Ltd. (GRMN) yesterday (Thursday) said it is still reviewing its previously disclosed plans to make a cash offer to acquire digital mapmaker Tele Atlas NV (TLATF), which is also being pursued by Garmin's European rival, TomTom NV. TomTom currently has the upper hand. It recently boosted […]
Ethanol's a Farce and We're Our Own Worst Enemy When It Comes To Energy Alternatives
By Keith Fitz-Gerald Contributing Editor For months we've heard nothing but great things about ethanol. And true to form, the experts here at Money Morning have ignored most of the resultant investor buzz. The truth is that ethanol's a farce and we're our own worst enemy when it comes to refining the technology anyway – […]
Global Investing Roundup
HSBC Suffers Subprime Blues; Portugal Telecom Seeing Double; China Architectural Revenue Jumps 90%; McCormick Buys Spice Maker; South Africa Braces for Another Rate Cut HSBC Holdings PLC (HBC) yesterday (Wednesday) announced a third quarter loss of $1.1 billion, due in part to a $3.4 billion loan-impairment charge in its U.S. consumer finance business. In 2006, […]
Retail Sales Inch Ahead, Hinting at a Less-Than-Happy Holiday Shopping Season
By Jason Simpkins Associate Editor Retail sales expanded at only a moderate pace in October, and analysts are growing increasingly concerned that retailers are looking at a sub-par holiday season. Total retail sales for the month increased 0.2%, which was in line with most estimates, but which represented a significant retreat from the upwardly revised […]
How to Maneuver Around Beijing's Market Machinations to Profit in China's Volatile Stock Markets
By Keith Fitz-Gerald Contributing Editor Unlike the United States Federal Reserve, which seems to be content with a dollar policy of benign neglect, the Chinese central bank actually has real power and isn't afraid to use it to protect and nurture the country's economic health. Most recently, China's central bank – The People's Bank of […]
North of the Border: Eight Ways to Profit From the Canadian Dollar and the Commodities Boom
Canada's economy is on a roll and its underlying strength is primarily a commodities story. The main protagonists are uranium and oil, says Jody Clarke in a two-part series from our U.K. affiliate, MoneyWeek Magazine. Those commodities and more are causing investors to see green in the Great White North. [Editors Note: The First of […]