By Mike Caggeso Associate Editor Struggling U.S. financials Citigroup Inc. (C) and Merrill Lynch & Co. Inc. (MER) may get another equity injection from state-owned Kuwait Investment Authority (KIA), the fund's managing director told Reuters. Their valuations would make it tempting – as both firms are trading near their 52-week lows – but Bader al-Saad […]
Archives for June 2008
June 2008 - Page 12 of 13 - Money Morning - Only the News You Can Profit From
GM Tries to Reverse Course, but Can it Catch Toyota?
By Jason SimpkinsAssociate Editor It has taken three straight years of declining profit for General Motors Corp. (GM) to realize it is no longer on the cutting edge of the world's automotive market. To its credit, GM has shifted its turnaround into high gear, painstakingly reshaping what was once regarded as an American business icon. […]
Global Investing Roundups
Gas Fuels Factory Orders; Borders Cuts Jobs to Cut Costs; Starbucks Serves Up Free Wi-Fi; Kenya Inflation Soars 32%; Chevron to Invest $5 Billion in Africa; Staples Raises Bid for Corporate Express; Lehman Looking for Cash Infusion; Oil Slides U.S. factory orders increased 1.1% in April, an unexpected gain that was boosted by the high […]
Why Mark-to-Market is Bad News for Shareholders
By Martin HutchinsonContributing Editor "When I use a word" said Humpty Dumpty in Lewis Carroll's "Through the Looking-Glass," "it means just what I choose it to mean, neither more nor less." It has always been the ambition of Wall Street to bring its financial statements under a similar type of discipline. And if the The […]
Fed Chair Comments Boost Greenback
By Jennifer YousfiManaging Editor U.S. Federal Reserve Chairman Ben S. Bernanke came out in support of a stronger U.S. dollar yesterday (Tuesday), indicating the Fed would remain on pause at its next meeting. Speaking via satellite at the International Monetary Conference in Barcelona, Spain, Bernanke said the Fed is working with the Treasury to "carefully […]
Toll Brothers Banks Lower Loss, CEO Gives Congress Some Market Recovery Advice
By Mike Caggeso Associate Editor A surprise to few, luxury homebuilder Toll Brothers Inc. (TOL) posted its second consecutive quarterly net loss yesterday (Tuesday), though the results were better than Wall Street expected. As a result, Toll Brothers' stock gained a handy 3.44% by mid-afternoon in Tuesday trading as investors viewed it as a signal […]
Cashing in on Commodities: Life’s Little Luxuries are Costing More than Ever Before
Editor's Note: This is the fifth installment of a new Money Morning series highlighting investment opportunities in the global bull market in commodities. By Jennifer Yousfi Managing Editor Soaring prices of grains, dairy and meat have been grabbing global headlines. But other commodities have been on the rise as well. I'm not talking about the […]
Global Investment Roundups
Sterlite Buys Asarco’s U.S. Copper Mines; Petrobras Award Tupi Rig Contracts; Russian Inflation to Hit 14% in 2008; South Korean Economy Outpaces Estimates; Toyota Sees U.S. Consumers Braking; Manufacturing Inches Up; NetSuite Snaps Up OpenAir India’s largest copper and zinc producer, Sterlite Industries Ltd. (ADR:SLT), agreed to buy assets of recently bankrupted miner Asarco LLC […]
Four Things to Ponder and Three Ways to Act When it Comes to the Fed
By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report There's one thing you can almost always count on with the government: Coming late to the party. The release of the U.S. Federal Reserve's minutes from the April 29 and 30 meeting of the Federal Open Market Committee (FOMC) included several "pronouncements," none of which you're hearing […]
Wachovia CEO Thompson Shown the Door After 32 Years of Service, WaMu’s Killinger Steps Down as Chairman
By Jason SimpkinsAssociate Editor G. Kennedy Thompson, formerly Wachovia Corp.'s (WB) chief executive officer, can now be added to the list of high-profile subprime casualties that already includes Citigroup Inc.'s (C) Charles O. "Chuck" Prince III, The Bear Stearns Companies Inc.'s (BSC) Chief Executive Officer James E. "Jimmy" Cayne, and Merrill Lynch & Co. Inc.'s […]