Icahn's Yahoo Victory; XM Gains Listeners; Gloomy Economic Outlook; Crude Gains on Tropical/Political Storms; Hasbro Beats Expectations; Corn Cut Down; Goldman Banker Summoned by Paulson; Union Asks Citi to Break Up Operations Yahoo! Inc. (YHOO) agreed to give three spots on its board of directors to activist investor Carl Icahn, a vocal opponent of the […]
Archives for July 2008
July 2008 - Page 5 of 12 - Money Morning - Only the News You Can Profit From
Fishing for Profits in the Fannie/Freddie Flotsam
By Martin HutchinsonContributing Editor The bailout of mortgage giants Fannie Mae (FNM) and Freddie Mac (FRE) is extremely confusing to holders of their debt and equity securities, because it's very difficult to figure out what the final outcome of the “rescue" might be, and if so, who benefits. However, as a service to Money Morning […]
Consumer Spending Threatened by High Prices and Lower Wages
By Jason SimpkinsAssociate Editor Consumer spending, which accounts for more than 70% of the economy, will be seriously threatened in the months ahead, as prices continue to rise, wages plateau, and government stimulus checks wear thin. Consumer spending has remained strong in recent months, even jumping 0.8% in the month of May. But that boost […]
Bank of America, Citigroup Spark Glimmer of Hope for Troubled U.S. Banking Industry
By Jennifer YousfiManaging Editor Bank of America Corp. (BAC) shares soared yesterday (Monday) as it followed Citigroup Inc.’s (C) lead to become the fourth large domestic bank to beat Wall Street’s earnings expectations and provide hope that the battered banking industry might finally be leaving the worst of the subprime mess behind. Bank of America […]
Switzerland’s Roche Makes $43.7 Billion Offer for U.S. Biotech Pioneer Genentech
By Jennifer YousfiManaging Editor Roche Holding Ltd. (OTC ADR: RHHBY) yesterday (Monday) announced a $43.7 billion offer for the 44% of Genentech Inc. (DNA) it doesn't already own. Switzerland-based Roche’s $89 per share cash offer is almost a 9% premium over San Francisco-based Genentech’s Friday closing price. Roche first acquired 60% of Genentech for $2.1 […]
New Bull Market or Bear-Market Trap? Investors Look to Earnings Season for Clues
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Earnings season will plug along this week as reports from several banks provide the latest insight into how well the beleaguered financial-services sector is weathering the global credit-crisis storm. Among the earnings season headlines: Bank of America Corp. (BAC) will be issuing its final earnings report […]
How Coal Shortages in China Will Spark More Foreign Takeovers of U.S. Assets
By Jason SimpkinsAssociate Editor The recent buyout of Alpha Natural Resources Inc. (ANR) by Cleveland Cliffs Inc. (CLF) could ignite more than $50 billion worth of M&A deals in the U.S. coal industry over the next few years as Mainland China rushes to solve a major energy shortfall. "In the next 12 months there will […]
Buy, Sell or Hold: Chevron Corp.
Chevron Corp. (CVX), the second-largest U.S. oil company, has recently experienced a decimation of its share price: The stock has dropped nearly 20% from its 52-week high of nearly $105 to Friday's close of $86.05. But here's the thing: At some point down here, Chevron's stock becomes quite a compelling buy. Let me explain. The […]
Oil's Double-Digit Slide Shouts "Sell!" to Some
By Jennifer YousfiManaging Editor Oil's recent wild ride has some market experts questioning which way black gold is headed in the weeks, months, and even years ahead. Oil dropped over 11% during a volatile week of trading, as reduced consumer demand put downward pressure on the once hot commodity. Crude oil for August delivery ended […]
Fannie Mae and Freddie Mac Shares Boosted by Plans for Capital Raise, Government Help
By Jennifer YousfiManaging Editor The future of Fannie Mae (FNM) and Freddie Mac (FRE) remains uncertain, but Treasury Secretary Henry Paulson continues to go to bat for the struggling mortgage titans that together secure half of the $12 trillion U.S. mortgage market. Speaking on CBS News' "Face the Nation," Paulson said, "I'm very optimistic that […]