By Mike Caggeso Associate Editor JPMorgan & Chase Co. (JPM) reported profit of $2.37 billion (or 68 cents a share), more than a 50% drop from $4.79 billion (or $1.34 a share) from a year earlier. The culprits: write-downs linked to failed home-equity loans, subprime mortgages and leveraged buyouts that cost the bank upwards of […]
Archives for April 2008
April 2008 - Page 7 of 14 - Money Morning - Only the News You Can Profit From
With New Leadership And a Tougher Stance, it's Time For Investors to Take a Look at Korea
By Martin Hutchinson Contributing Editor Amid all the gloom investors are feeling right now, South Korea has produced some sunny rays. On April 9, the Asian Tiger suggested that its economy could accelerate and that its stock market could take off. The splendidly named Grand National Party, allied to the new President Lee Myung-bak, won […]
Outperform the Market with Spin-offs
By Jennifer YousfiManaging Editor In the world of investing, sometimes the separate parts are worth more than the whole. Those parts are called "corporate spin-offs," and as far as investment plays go, they can be one of the safest and most-profitable hands that investors can play – especially against a market backdrop as uncertain as […]
Global Investing Roundups
Wholesale Prices Soar; U.S. Bancorp Sees Earnings Slide; Johnson & Johnson Enjoys 40% Jump in Profit; China Buys 1% of BP for $1.7 Billion; Brazil's Retail Sales Hit Four-Year Record; Crocs Stock Drops; Intel Profit Down; Big Loss for WaMu U.S. producer prices rose almost twice as much as forecast, the Labor Department reported yesterday […]
With Record Mortgage "Re-sets" Still to Come, U.S. Home Foreclosures Likely Won't Peak Until the Fourth Quarter of This Year, Expert Says
From Staff Reports Homes receiving at least one foreclosure filing soared 57% in the 12 month-period ended in March and bank repossessions rocketed 129% from a year ago, as the pain from the subprime mortgage crisis continues to spread, real estate data firm RealtyTrac Inc. said yesterday (Tuesday). Story continues below… Unfortunately, the worst is […]
More Airline M&A Expected on Heels of Delta's $3.63 Billion Northwest Acquisition
By Mike Caggeso Associate Editor Delta Air Lines Inc. (DAL) and Northwest Airlines Corp. (NWA) are now officially one company, and together now represent the world's largest airline carrier. The Atlanta-based Delta bought Northwest for $3.63 billion, all in stock, creating a single carrier with a combined enterprise value of $17.7 billion. The landmark deal […]
Midday Market Update: Tech Shares Drag on Markets
By Jennifer Yousfi Managing Editor Stocks dipped lower today (Tuesday), as investor confidence about first quarter earnings remains low. At midday in New York, the blue-chip Dow Jones Industrial Average Index was down 25.57 points (-0.21%), to trade at 12,276.49. The tech-laden Nasdaq Composite Index dropped 6.65 points (-0.29%), to reach 2,269.17. And the broader […]
A Weak Dollar and Supply Concerns Carry Oil to Another Record High
By Jason Simpkins Associate Editor Oil sailed to a fresh record Tuesday as the dollar's continued weakness made an already fashionable retreat into oil all the more appealing. The price of light, sweet crude for May delivery settled at a record $113.79 a barrel after touching a new trading high of $113.99 a barrel in […]
Jim Rogers: China's Economic Advance is All But Unstoppable
By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report SINGAPORE – China's long-term prospects are so strong that even a civil war, an economic collapse or political assassinations would only temporarily delay its emergence as a worldwide economic powerhouse, global investing guru Jim Rogers told Money Morning during an exclusive interview in this Southeast Asia city-state. […]
Outlook 2008: Blockbuster is the Latest Blue Chip to Lead a Resurgence in M&A Deals
By Mike Caggeso Associate Editor Editor's Note: This is the 19th Installment of an Ongoing Series Highlighting the Global Investing Outlook for 2008. While 2008 has not been the banner year for mergers and acquisitions (M&A) that 2007 was, several blue-chip operations including Microsoft Corp. (MSFT), Time Warner Inc. (TWX) and JPMorgan Chase & Co. […]