$300 Million Troubles for Thornburg; Brazil's Tele Norte Dials Up 49% Profit, China Economy to Slow; EOG Boosts Outlook; Cost Conscious Consumers Shun Premium Cocktails; Apple Ripens On Increased Demand; Freddie Mac Losses Mount; eBay Settles Suit Shares of Thornburg Mortgage Inc. (TMA) tumbled 15% to close at $9.76 yesterday (Thursday) after a regulatory filing […]
Archives for February 2008
February 2008 - Money Morning - Only the News You Can Profit From
Slow Growing U.S. GDP Unchanged Sending Markets and Dollar Lower
By Jennifer Yousfi Managing Editor The preliminary gross domestic product (GDP) figure for the fourth quarter of 2007 was 0.6%, unchanged from the advance figure released last month, the Commerce Board announced yesterday (Thursday). Analysts had expected a slight upward revision in GDP to 0.7% and the confirmed lower figure sent markets tumbling. At […]
Unauthorized Trades Cost MF Global $141.5 Million
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By Jennifer Yousfi Managing Editor Shares of MF Global Ltd. (MF) – the largest broker of exchange-traded futures and options – plunged more than 25% yesterday (Thursday) when it was discovered that a rogue trader had run up $141.5 million in losses. While the amount was nowhere near the $7.2 billion a rogue trader lost […]
LCD Market Gets Even Hotter as Trade Raids and JV Deals Raise the Stakes
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By William Patalon III Executive Editor Money Morning/The Money Map Report Investigators from Japan's Fair Trade Commission raided the offices of Sharp Corp. (OTC: SHCAY) and Hitachi Displays Ltd. yesterday (Thursday), due to suspicions the two were fixing prices of display panels for Nintendo's popular DS portable game machines, The Wall Street Journal reported. In […]
Economic Carnival Cruises on in Latin America, Despite Sinking U.S. Market
By Jason Simpkins Associate Editor The United States and Brazil parted ways last October. In the 12 months before that, Brazilian stocks moved in the same direction as the Standard & Poor's 500 Index 90% of the time. But then that bellwether index for the U.S. stock index stumbled its way through last year's final […]
While There's Action in Oil Stocks, There's Real Energy in Coal Shares
By Martin Hutchinson Contributing Editor Oil prices above $100 per barrel have made the headlines recently, and investment advisors have competed with each other in recommending oil investments. But here's some inside insight from the shrewdest investing pros: The true energy play is an energy source whose price has risen more than oil in the […]
Sprint Still Paying for Nextel with Huge Loss, Canceled Dividend
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By Mike Caggeso Associate Editor Sprint Nextel Corp. (S) posted a $29.45 billion fourth quarter loss, or $10.36 a share, as declining subscribers in an increasingly competitive market took its toll on the third-largest wireless carrier. Sales fell 5.7% to $9.85 billion. Total post-paid subscribed declined 683,000 compared to the 337,000 it lost in the […]
Midday Market Update: GDP Unchanged Sending Markets Lower
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By Jennifer Yousfi Managing Editor The preliminary gross domestic product (GDP) figure for the fourth quarter of 2007 was 0.6%, unchanged from the advance figure, the Commerce Board reported. Analysts had expected a slight upward revision to 0.7% and the lower figure sent markets tumbling. At noon ET today (Thursday), the three major U.S. […]
Global Investing Roundups
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Brazilian Real Nears 9-Year High, EU Slaps $1.35 Billion Fine on Microsoft; Demand Drops For Durable Goods; Goldman Slashes Stake in Ambac; Business Borrowing Big in Europe; Citi's Pandit Taps New CRO; Hedge Funds Bullish on Merrill; Airline Merger Stalls The Brazilian Real is nearing a nine-year high, boosted by commodity prices rise and the […]
Despite Economic Challenges, Investors See Profit Potential in South Africa
By Mike Caggeso Associate Editor The latest news out of South Africa is that its economy grew an "unexpected" 5.3% in the fourth quarter. Perhaps what perplexed economists about the country's growth last quarter [and last year] is the wealth of negative economic news coming out of South Africa. For instance, consider these challenges: National […]
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