By Mike Caggeso Associate Editor Morgan Stanley's (MS) first-quarter earnings plummeted, but stayed above analysts' expectations, giving the Wall Street giant's stock a slight boost in trading Wednesday (yesterday). Morgan Stanley's earnings followed in the footsteps of financial giants Goldman Sachs Group, Inc. (GS) and Lehman Bros. Holdings, Inc. (LEH) – awful compared with last […]
Archives for March 2008
March 2008 - Page 7 of 16 - Money Morning - Only the News You Can Profit From
Three Ways to Own Silver Before it Reaches $30
When a gold bug says "Buy Silver," it's time to listen. History was made in mid-March, when gold broke the $1000/oz. mark. The chief reason is simple. Gold is a "safe haven." When economic and geopolitical turmoil rear their heads, investors scurry for gold. And the billions in subprime write offs and the failing confidence […]
With Latest Rate Cut, Fed Tries to Find Balance Between Recession and Inflation
By William Patalon IIIAnd Jason SimpkinsMoney Morning Editors The U.S. Federal Reserve cut its benchmark interest rate by less-than-expected three-quarters of a percentage point yesterday, a move that was designed to energize a badly flagging economy without causing inflation to spike or exacerbating the greenback’s decline. Central bank policymakers yesterday reduced the key Federal Funds […]
Leading Candidate to Succeed Warren Buffett Relinquishes Role at Berkshire Subsidiary
By William Patalon III Executive EditorMoney Morning/The Money Map Report David Sokol, widely viewed as the leading candidate to eventually replace investing guru Warren Buffett as the chief executive officer of Berkshire Hathaway Inc. (BRK.A, BRK.B), is changing jobs. Sokol announced that he plans to step down as CEO of the MidAmerican Energy Holdings Co., […]
Global Investing Roundups
Wal-Mart Completes Seiyu Takeover; Cathay Pacific Builds Own Terminal; Tsakos Profit Sinks; Court Rules in Favor of PDVSA; Delta Grounds Planes, Cuts Jobs; GameStop Scores Big; Weak Dollar Means Smaller Sets; SocGen Rogue Trader Freed Wal-Mart Stores Inc. (WMT) will purchase the remaining 4% of Japanese retailer Seiyu Ltd. (PINK:SYLTF), the Associated Press reported yesterday […]
Visa’s Record IPO is Shaping Up as One of the Hottest Stock Offerings in Years
By William Patalon III Executive Editor Money Morning/The Money Map Report The Visa Inc. (V) initial public stock offering is already going to be the biggest IPO in U.S. history. Now it's also poised to be the hottest IPO investors have seen in years. Late yesterday (Tuesday), just hours before the massive credit-card processor are […]
Goldman Sachs, Lehman Brothers Revive Investor Confidence
By Jason Simpkins Associate Editor Just one day after the U.S. Federal Reserve orchestrated JPMorgan Chase & Co.’s (JPM) high profile buyout of The Bear Stearns Companies Inc. (BSC), both Goldman Sachs Group Inc. (GS) and Lehman Brothers Holdings Inc. (LEH) beat analysts’ earnings expectations yesterday (Tuesday), restoring some of the investor confidence lost during […]
Canada Inflation Slows Central Bank Expected to Cut Rates Again
By Mike Caggeso Associate Editor Inflation slowed dramatically in Canada, with most of the deceleration credited to falling car prices and less upward pressure from gasoline prices. Canada’s Consumer Price Index (CPI) increased by 1.8% in the 12-month period from February 2007 to February 2008, the slowest rate of growth in six months, Statistics Canada […]
Goldman Sachs Replaces its S&P 500 Forecaster Abby Joseph Cohen
By Mike Caggeso Associate Editor Bullish Goldman Sachs Group Inc. (GS) strategist Abby Joseph Cohen, 56 – famous for being one of the first to predict the 1990s bull market – has been replaced as the bank’s chief forecaster. Cohen stepped down from her post but remains on Goldman’s investment strategy team, becoming senior investment […]
Global Investing Roundups
Weyerhaeuser folds its packaging unit to International Paper; Gov’t Scolds ValueClick for Deceiving Web Surfers; MF Global Shares Halved; Warning Sends Siemens Lower; CME Buys NYMEX; UBS Slashes Staff; Alexza Can’t Find the Cure for Quarterly Losses; Excel Maritime Sinks Despite Earnings Growth Washington-based timber company Weyerhaeuser Co. (WY) has sold its packaging business to […]