Oil Hits Another New High; Barrick Gold Corp. Strikes Profit; Molson Coors Enjoys Refreshing First Quarter; Exchange Group Profits on Volatile Markets; Legg Mason Loss; Sara Lee Hit By High Ingredient Costs; New Islamic Market Venture; Idear Shares Soar Oil futures climbed to another new record over $122 a barrel yesterday (Tuesday), as supply concerns […]
Archives for May 2008
May 2008 - Page 11 of 14 - Money Morning - Only the News You Can Profit From
D.R. Horton Posts $1.3 Billion Loss, Halves Dividend Due to Continued Housing Recession
By Jennifer YousfiManaging Editor D.R. Horton Inc. (DHI) reported a $1.3 billion fiscal second quarter loss yesterday (Tuesday), and slashed its dividend by half as the United States continues to suffer through the worst housing recession in a generation. The largest U.S. homebuilder has been hard hit by the troubles in the domestic housing market […]
With the U.S. Housing Bubble Bursting, Investors Find More Fertile Opportunities Overseas
By Jason Simpkins Associate Editor Just a few months ago, the world's biggest property fund manager, ING Real Estate (ING), announced plans to spend another $700 million on Chinese real estate. That was on top of the $350 million raised for residential development in China in 2006. Now, investment firms and sovereign wealth funds around […]
Fannie Mae Posts $2.2 Billion Loss, Braces for More Pain
By Mike Caggeso Associate Editor Like several of its ailing peers, Fannie Mae (FNM) reported a wide quarterly loss and stocked its financial armory for continued financial strain with a dividend cut and $6 billion planned in raised capital. The largest U.S. mortgage-finance company said it lost $2.19 billion, or $2.57 per share, in the […]
Global Investing Roundups
U.S. Service Sector Shows Signs of Life; Morgan Stanley to Slash More Jobs; Random House to Turn the Page on Chief Executive; Countrywide Rated "Underperform", Shares Dive; Sprint Nextel Corp. Considering Spinning Off Nextel; Warren Buffett's Warning; Principal Financial Slumps; Wal-Mart Widens Drug Plan Scope The U.S. service sector grew in April for the first […]
What's Next For Microsoft and Yahoo?
By Jason Simpkins Associate Editor Shares of Yahoo! Inc. (YHOO) tumbled 15% yesterday (Monday) to close at $24.37 a share as investors responded to Saturday's news that Microsoft Corp. (MSFT) would drop its $47.5 billion dollar bid for the beleaguered search engine firm. But the tough times are just beginning for Yahoo, which must now […]
Election 2008: As Democratic Primary Hits a New Pinnacle Today, Obamanomics Emerges as Clear Front-Runner for Investors
"Election 2008" is an ongoing Money Morning series that looks for profit plays emanating from the presidential election campaign. By Martin Hutchinson Contributing Editor With contests in both Indiana and North Carolina, today (Tuesday) probably marks the last of the crucial Democratic presidential primary election contests between senators Hillary Rodham Clinton and Barack Obama. Unless […]
Oil Crosses $120 Threshold
By Jennifer Yousfi Managing Editor Oil surged to a new record high yesterday (Monday), as it gained $4 to trade above $120 in morning trading on the New York Mercantile Exchange. A combination of factors was cited for the rise including trouble in Iran and Nigeria, the weak U.S. dollar, and an unexpected increase in […]
China Officials: Inflation Too Hot, Rates May Rise
By Mike Caggeso Associate Editor Chinese officials signaled they might raise interest rates to curb the inflation epidemic sweeping across the growing superpower. "We will combat demand and prevent rapid economic growth from turning into overheating," Vice Finance Minister Li Yong said at the Asian Development Bank's annual meeting, Bloomberg reported. Yong said the government […]
This Week's Profit Reports Could Render Final Verdict on First Quarter Earnings Season
By William Patalon III Executive Editor Money Morning/The Money Map Report With earnings season starting to wind down, investors are not anticipating many new surprises. Still, a few prominent players are set to report this week led by The Walt Disney Co. (DIS) (entertainment), Cisco Systems Inc. (CSCO) (tech), and American International Group Inc. (AIG) […]