By Jennifer Yousfi Managing Editor Shares of American International Group, Inc. (AIG) recovered slightly yesterday (Tuesday) from an early morning plunge as the U.S. Federal Reserve reconsidered a bridge loan to the troubled insurer. At 11:30 a.m. EDT, AIG shares were trading at $2.53, down $2.23 (more than 40%) after earlier hitting a new 52-week […]
Archives for September 2008
September 2008 - Page 6 of 11 - Money Morning - Only the News You Can Profit From
U.S. Investment Banking Sector’s Rough Weekend Provides Investors With a Roadmap for Future Profit Plays
By Martin Hutchinson Contributing Editor It was a rough weekend for the U.S. financial system. Investment banker Lehman Brothers Holdings Inc. (LEH) collapsed and, as I predicted last week, the problems were not confined to Lehman. As Money Morning detailed yesterday, Merrill Lynch & Co. Inc. (MER) has been taken over in a rescue by […]
Buyout of Merrill and Bankruptcy of Lehman Heightens Worry of U.S. Credit Crisis Pain Still to Come
By William Patalon IIIAnd Jennifer YousfiMoney Morning Editors After a weekend in which the deepening U.S credit crisis sent one top investment bank to bankruptcy court and a second into the arms of a “White Knight” suitor, U.S. stocks yesterday (Monday) recorded their worst day since the 9/11 terrorists attacks seven years ago. Indeed, the […]
With Buyout of Merrill, Bankruptcy for Lehman, Wall Street Plays "Let's Make a Deal"
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report In one of its wildest and weirdest stretches ever, Wall Street entered a weekend awaiting a government bailout of Lehman Brothers Holdings Inc. (LEH) and exited with Merrill Lynch & Co. Inc. (MER) agreeing to sell itself to Bank of America Corp. (BAC) for nearly $50 […]
Global Investing Roundups
Electronic Arts Ditches Take-Two; Nucor’s Positive Outlook; Best Buy Snaps up Napster; Target’s New Ballpark; Oil Hits Six-Month Low; Wilbur Ross Expects 1,000 U.S. Banks to Fail; Hewlett-Packard Slashes Payrolls Take-Two Interactive Software, Inc. (TTWO) shares plunged yesterday (Monday) after Electronic Arts Inc. (ERTS) withdrew its bid for the maker of the popular Grand Theft […]
ECB and BOE Inject Billions, Bank of China Cuts Rates as Central Banks Cope with Lehman Fallout
By Jason Simpkins Associate Editor Central banks around the world, including the European Central Bank (ECB), the Bank of England (BOE) and the People’s Bank of China, scrambled yesterday (Monday) to shore up liquidity and protect domestic markets against the fallout from the collapse of Lehman Bros Holdings Inc. (LEH). The Bank of England and […]
With Buyout of Merrill, Bankruptcy for Lehman, Wall Street Plays "Let's Make a Deal"
By William Patalon III Executive Editor Money Morning/The Money Map Report In one of its wildest and weirdest stretches ever, Wall Street entered a weekend awaiting a government bailout of Lehman Brothers Holdings Inc. (LEH) and exited with Merrill Lynch & Co. Inc. (MER) agreeing to sell itself to Bank of America Corp. (BAC) for […]
Hurricane Ike is the Latest Wild Card in the "Guess the Gasoline Price Game"
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report Last week’s crude and gasoline inventories dropped more than expected as the effects of Hurricane Gustav resulted in some production disruptions. Gustav, which struck last month, was the fourth-most-destructive storm to hit the United States, causing $20 billion in damages. And then came Hurricane Ike. Ike […]
Fed Policymakers Forced to Balance Weak Growth and High Inflation at Tomorrow's FOMC Meeting
By Jennifer YousfiManaging Editor Already forced to deal with the competing and contradictory challenges of a slowing economy and escalating inflation, U.S. Federal Reserve policymakers will now also have to factor a deteriorating labor market and big drop-off in consumer spending into their interest-rate deliberations when they meet tomorrow (Tuesday). “There's a big question mark […]
Buy, Sell or Hold: Garmin Ltd.
Q: What’s the outlook for Garmin Ltd., the GPS system maker? Reader Diane Begue of Medina, Ohio Garmin Ltd. (Nasdaq: GRMN), a leading producer of global-positioning systems, has a strong market position, meaning its stock should deliver nice profits if purchased at the current low valuation. It was just about midnight, on a chilly and […]