By Peter D. SchiffGuest Columnist Those who were blindsided by the recent financial meltdown are now loudly blaming the "free market" for its failure to police its own excesses, and are calling for greater regulation to prevent future disasters. But for those who clearly observed the problems developing [no doubt in high definition slow motion], […]
Archives for April 2008
April 2008 - Page 11 of 14 - Money Morning - Only the News You Can Profit From
Rhetoric Intensifies as Yahoo and Microsoft Reach Crucial Impasse
By Jason Simpkins Associate Editor Over the past several days Yahoo! Inc. (YHOO) and Microsoft Corp. (MSFT) have reached a critical impasse in takeover negotiations. Ultimately, to make a deal, Microsoft might be forced to take its offer directly to Yahoo shareholders in the form of a proxy contest, or simply raise its offer to […]
Global Investing Roundups
Icahn Nominees Join Motorola's Board; S&P Downgrades Novartis; Chile Copper Boost; Praxair Scores Olympic Contract; Gas Prices Hit Another High; McDonalds Settles Suit; Kapstone Parcels Out $485 Million for SC Mills Two of billionaire investor Carl Icahn's nominees have been named to Motorola Inc. (MOT) board of directors. Keith Meister, managing director of Icahn investment […]
Washington Mutual Gains on Possible Capital Infusion
By Jennifer Yousfi Managing Editor Shares Washington Mutual Inc. (WM) surged almost 30% yesterday (Monday) on news that the mortgage lender is close to a deal with private equity firm TPG Inc. that would boost its balance sheet by $5 billion. Seattle-based WaMu, as the thrift is often called, is the latest financial firm to […]
Novartis to Buy Nestle's 77% Stake in Alcon
By Mike Caggeso Associate Editor Swiss pharmaceutical kingpin Novartis AG (NVS) has agreed to buy Nestle SA's (PINK: NSRGF) 77% stake in U.S. eye care company Alcon, Inc. (ACL) – a deal reportedly worth up to $39 billion, Novartis said in a statement. Novartis will first acquire a 25% stake from Nestlé for $143.18 per […]
Midday Market Update: Markets Extend Prior Week's Gains
By Jennifer Yousfi Managing Editor The U.S. markets extended last week's gains on news that the largest U.S. savings and loan was close to securing a deal to receive much-needed capital. At midday in New York, the blue-chip Dow Jones Industrial Average Index was up 68.88 points (0.55%), to trade at 12,678.30. The tech-laden Nasdaq […]
Money Morning's Market Update: When the Markets Turn Upside Down
By Jennifer YousfiManaging Editor After a week like the one we just had, "black seems white;" "up seems down," "conservative seems liberal" and "bearish seems bullish." For starters, U.S. Treasury Secretary Henry Paulson and the Republican Administration outlined a plan for more government oversight over the financial markets. Within the 200+ page "riveting" document, the […]
Food Prices Soar as Farmers Bail on Corn
By Jason Simpkins Associate Editor The price of corn has already climbed 25% since January and established 13 new record highs. And food prices across the board are climbing to historic highs as a result. But don't expect a reprieve anytime soon, as farmers across the country are seeking profit elsewhere, and government emphasis on […]
Weakened Financials Strut Their Visa IPO Profits
By Mike Caggeso Associate Editor Visa Inc.'s (V) record-setting $17.86 billion initial public offering (IPO) last month provided a much-needed dose of good news to the economic mire we're in. With main indices down significantly since Jan. 1, a slew of companies – including many financial firms – recently (and gladly) offered to share how […]
Muted Market Reaction to Rise in Unemployment
By Jennifer Yousfi Managing Editor The U.S. Labor Department announced that the jobless rate reached 5.1%, but the markets held their own after the news to end narrowly mixed. "[U.S. Federal Reserve] Chairman Bernanke implied that there is a strong possibility of a negative first and second quarter of 2008," Dr. Robert Sweet, an economist […]