Archives for September 2008

September 2008 - Page 10 of 11 - Money Morning - Only the News You Can Profit From

Weak Labor Market and Slowing Retail Sales Put U.S. Stocks in a Tailspin

By Jennifer YousfiManaging Editor The U.S. markets took a beating yesterday (Thursday) as retail sales sputtered and jobless claims surged. At the New York close, the blue-chip Dow Jones Industrial Average Index had posted a loss of 344.65 points (-2.99%), to trade at 11,188.23. The tech-laden Nasdaq Composite Index dropped 74.69 points (-3.20%), to reach […]

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Global Investing Roundups

Red Hat’s Purchase; Toll Bros. NYC Worries; Dollar Rally; Unilever’s New CEO; Fed President Sees Room for Cut; Boeing’s Labor Woes Red Hat Inc. (RHT) yesterday (Thursday) announced it had purchased privately held software company Qumranet Inc. for $107 million in cash. The Raleigh-based software distrubutor expects the purchase to knock 5 to 6 cents […]

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ECB Holds Steady in Fight Against Inflation, Despite Contracting Economy

By Jennifer YousfiManaging Editor Despite economic contraction in the second quarter, the European Central Bank (ECB) yesterday (Thursday) maintained its hawkish stance on inflation. Led by President Jean-Claude Trichet, the ECB’s monetary policy committee voted to hold interest rates steady at 4.25%. “Upside risks to price stability prevail,” Trichet said at a press conference in […]

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China Huiyuan Quenches Coca-Cola's Thirst for Foreign Exposure, but Still Faces Regulatory Scrutiny

By Jason Simpkins Associate Editor The Coca-Cola Co. (KO) announced yesterday (Wednesday) that it will buy China Huiyuan Juice Group Ltd. for $2.3 billion (HK$17.9 billion) in an effort to diversify its presence in one of the world's fastest-growing beverage markets. But the deal still requires government approval, which is anything but guaranteed. Coca-Cola's offer […]

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Global Investing Roundups

Gloomy Beige Book Report; Weak August for Autos; Layoffs at GMAC; Fraud Charges for Former Credit Suisse Brokers; Factory Orders Rise; Staples Profit Squeezed; United Technologies Lands $80m Jet Deal; Liberty Spins Off DirectTV The U.S. Federal Reserve released its Beige Book report yesterday (Wednesday), which looks at the economic conditions in the 12 Fed […]

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KDB Still Angling for a Piece of Lehman Brothers

By Jennifer YousfiManaging Editor Lehman Brothers Holdings Inc. (LEH) is scrambling to find a much-needed capital injection prior to announcing fiscal third quarter results this month. State-controlled Korea Development Bank, or KDB, confirmed it would take a 25% stake in the struggling Wall St. investment bank if it could find enough private sector partners to […]

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Oil Slides on Safe Storm Passing, Stronger Dollar

By Jennifer YousfiManaging Editor Oil prices dropped yesterday (Wednesday) as news that oil majors’ Gulf of Mexico facilities were unscathed coupled with the dollar’s seven-month high against the euro sent crude futures lower. Light sweet crude oil for October delivery dropped 86 cents to $108.85 per barrel on the New York Mercantile Exchange (NYMEX) yesterday. […]

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