By Mike Caggeso And William Patalon III Money Morning Editors U.S. stocks plunged yesterday (Thursday) – with the Dow Jones Industrial Average plummeting more than 300 points to reach a 10-month low – as yet another round of downbeat economic reports fueled investor fears. Key among yesterday's reports: The U.S. Commerce Department said that building […]
Archives for January 2008
January 2008 - Page 7 of 15 - Money Morning - Only the News You Can Profit From
Global Investing Roundup
Trouble's Brewing for SABMiller; Merrill Lynch Posts Biggest Loss in 94 Years; Generic Drugs Wound Novartis Profits; Reliance Reaps Refining Profit SABMiller Plc (PINK:SBMRF), the world's third-largest brewer, reported slowed sales growth in the third quarter, the Associated Press reported yesterday (Thursday). Excluding revenue from acquisitions, beer sales grew just 4.1% for the three months […]
Energy and Food Prices Fueling Inflation
By Mike Caggeso Associate Editor Inflation rose in 2007 by its sharpest rate in 17 years, pushed by increased costs for energy and food, the U.S. Department of Labor reported. Consumer prices rose by 4.1% in 2007 – up from the 2.5% rise in 2006. Energy prices jumped 17.4% and food prices increased 4.8% last […]
Intel’s Weak Outlook Drags on Tech Sector
By Jennifer Yousfi Managing Editor Despite “record” revenue in the fourth quarter of 2007, Intel Corp. (INTC) could not live up to analyst expectations, causing its share price to plummet. Santa Clara, Calif.-based Intel released a disappointing quarterly earnings report Tuesday, causing the shares to open yesterday (Wednesday) over 13% lower from the prior day’s […]
Boeing Struggles with Dreamliner Delays; Struggles to Fend Off Airbus
By Jason Simpkins Associate Editor The Boeing Company (BA) announced further delays in the production of its 787 Dreamliner yesterday (Wednesday), but there still may be ample opportunity to bury its competition, notably Airbus SAS. The Dreamliner is Boeing's most successful new airplane program in terms of sales. It ranked second in commercial orders last […]
Hong Kong’s Blue-Chip Index Plunges
From Staff Reports Hong Kong’s Hang Seng Index had its biggest daily loss since the day after the 9/11 terrorist attacks, and has now lost 23% from its Oct. 30 high, crossing the 20% loss threshold that has traditionally signaled a bear market. “Sentiment is very weak and investors are selling big time,” Mona Chung, […]
Outlook 2008: BioTech Offers Investment Longevity
Editor’s Note: This is the 16th Installment of an Ongoing Series Highlighting the Global Investing Outlook for 2008. By Jason Simpkins Associate Editor In 2007, biotech stocks doubled the return of the Standard & Poor’s 500 Index, storming back from a sub-par 2006. And last year’s industry-wide restructuring – fueled by a slew of mergers […]
Global Investing Roundup
Global Investing Roundup Bank Profits Fall but Shares Still Rise; Rosneft Drains Yukos; Emmar on the Move; Slim ASML Profit Earnings reports from JPMorgan Chase & Co. (JPM) Wells Fargo & Co. (WFC) weren’t as bad as investors’ estimated, Bloomberg reported, causing both companies’ shares to post gains yesterday (Wednesday). JPMorgan’s profits fell 34% to […]
Why the President's Push for Lower Oil Prices is Nothing But a Pipe Dream
By Keith Fitz-Gerald Investment Director Money Morning/The Money Map Report Every president has a defining moment when the American people, and indeed the world, recognize that he's badly out of touch with some aspect of reality. I can't help but think that President George W. Bush ["Dubya"] has just had his moment as I watch […]
Citigroup Cuts Dividend, Receives Another Capital Infusion; Merrill Gets Cash Boost
By Jennifer Yousfi Managing Editor Beleaguered banking giant Citigroup Inc. (C) yesterday (Tuesday) posted its biggest-ever loss, slashed its dividend 41% and said it had raised $14.5 billion to bolster its sagging balance sheet. The revelations sent Citi's shares down $2.12 each, or 7.30%, to $26.94 in trading Tuesday. The announcements were part of the […]