JPMorgan Makes Schwartz an Offer; Retails Sales Rise; Berkshire's Brandon Resigns; Brazilian GM Plant; Hungary for Oil; Denny's Reports 1Q Decline; Goldman Sachs to Cut More Jobs; Fremont Sells Assets to CapitalSource Chief Executive Alan Schwartz, forced to sell liquidity-starved The Bear Stearns Cos. Inc. (BSC) to JPMorgan Chase & Co. (JPM) in a fire […]
Archives for April 2008
April 2008 - Page 8 of 14 - Money Morning - Only the News You Can Profit From
Wachovia's Surprise Loss, Financial Ills, Reignite Subprime Mortgage Fears
From Staff Reports Wachovia Corp. (WB), the fourth-largest U.S. bank, stunned investors yesterday (Monday) by posting a surprise first-quarter loss, announcing a dividend cut and revealing plans to raise $7 billion in capital. Chief Executive G. Kennedy "Ken" Thompson said the "precipitous decline in housing market conditions and unprecedented changes in consumer behavior" damaged the […]
Doha Deal Could Offer $100 Billion a Year to Global Economy if it Gets Done
By Jason Simpkins Associate Editor The Doha round of global trade negotiations, which for seven years has failed to liberalize agricultural trade, may finally be close to its first conclusive action. Global food prices, which have surged more than 80% in the past three years, are actually moving the talks forward by eradicating the tariffs […]
Midday Market Update: Stocks Sputter on Earnings Concerns
By Jennifer Yousfi Managing Editor U.S. markets got off to a slow start on Monday, as worries about weak first quarter earnings continued to drag on stocks. At midday in New York, the blue-chip Dow Jones Industrial Average Index was down 21.00 points (-0.17%), to trade at 12,304.42. The tech-laden Nasdaq Composite Index dropped 10.26 […]
With the Energy Department's Prediction for Gasoline Prices, the 'Experts' Get it Wrong Yet Again
By William Patalon III Executive Editor Money Morning/The Money Map Report How does the prospect of $4 a gallon gasoline sound to you? Undoubtedly, it doesn't sound all that great. But what if I said that gasoline prices were headed for the $4 a gallon level, but once they got there, they'd head no higher? […]
Profit on the Horizon: Why Two Big Solar Stocks Will Continue Their Rebound
By Jason Simpkins Associate Editor After a strong 2007 campaign, solar stocks – and the overall clean energy sector – fell hard in the first quarter of 2008. The PowerShares Wilder Hill Clean Energy Portfolio (PBW), an industry standard, plunged nearly 30%. But now that their darkest days are behind them, solar stocks represent a […]
Weak Earnings from GE Spark Economic Concerns
By Jennifer Yousfi Managing Editor General Electric Co. (GE) shocked the market when it announced a 6% drop in net income for the first quarter of 2008. Continuing earnings per share for the quarter were down 8% to 44 cents per share, missing the mean of analyst expectations at 51 cents per share. Continuing earnings […]
Frontier Airlines Files for Bankruptcy Protection, Says Operations Will Continue As Normal
By Mike Caggeso Associate Editor Denver-based Frontier Airlines Holdings, Inc. (FRNT) – parent company of Frontier Airlines – announced Friday that it is has filed for Chapter 11 bankruptcy protection, citing unexpected problems with its credit card processor. Frontier said it would continue normal business operations – operating its full schedule of flights and maintain […]
Soros: "We Have Not Yet Seen the Full Effect of Possible Recession"
By Jason SimpkinsAssociate Editor George Soros first made a name for himself with The Quantum Fund, a hedge fund that's often described as the first real global investment fund, which he and partner Jim Rogers founded in 1970. Over the next decade, Quantum gained 4,200%, while the Standard & Poor's 500 Index climbed about 50%. […]
With its Jump to a Record $1.68 Trillion, China's Foreign Currency Reserves Spawn Major Inflationary Fears
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report China's foreign currency reserves soared to a world-leading $1.68 trillion at the end of March, and that has the government scrambling for ways to keep the torrents of incoming money from stoking an inflation rate that's already at its highest in more than a decade. Assets […]