By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report CenturyTel Inc. (CTL) will acquire rival Embarq Corp. (EQ) in an $11.6 billion deal that could kick-start a flurry of mergers among rural-regional telephone carriers. The deal should be good for the two companies, said Jeff Kagan, an independent analyst who is well known for his […]
Archives for October 2008
October 2008 - Page 3 of 14 - Money Morning - Only the News You Can Profit From
Fed to Cut Rates at Next FOMC Meeting as U.S. Recession Appears Likely
By Jason Simpkins Associate Editor Money Morning The U.S. Federal Reserve is likely to cut rates tomorrow (Wednesday), possibly in conjunction with central bank counterparts in Europe, as fears of a global recession have intensified. However, the Fed has little room to maneuver as its benchmark Federal Funds rate is already at 1.5% and analysts […]
Tight Credit for Farmers Leads to Smaller Crops, Higher Prices and More Hunger
By Jennifer YousfiManaging EditorMoney Morning Tighter credit for farmers could worsen a global food crisis as smaller crop sizes cause prices to soar. Many farmers have traditionally bought pre-season supplies such as seeds and fertilizer on credit and then paid off the debt with the proceeds from the year’s harvest. But with a growing number […]
Global Investing Roundups
Demand Drops Crude; Volkswagen Races Ahead; Yen’s Strength Sinks Stocks; Verizon Dials Up Gains; Sept. Home Sales Up; Wal-Mart Scales Back; Citi Rejects Goldman Merger Crude oil for December delivery declined 1.4% yesterday (Monday) with a 93-cent drop to close at $63.22 a barrel on the New York Mercantile Exchange. Oil futures are down 57% […]
Buy, Sell or Hold: iShares MSCI Brazil Index
Brazil’s economy has been given a second chance. And so have prospective investors. Brazil will use that second chance well – shouldn’t we? Although there are a number of ways to play this promising “BRIC” (Brazil, Russia, India and China) market, including some excellent companies, the best way to capitalize on Brazil’s terrific prospects is […]
Do Economic Reports and Corporate Profit Statements Point to a Worldwide Recession?
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report It’s beginning to sound like a broken record. In a nutshell, we already know that the economic data should be weak. We already know that the earnings reports should be disappointing. And because we already know all this, the information should be built into stock prices. […]
Global Sell-Off Takes a Toll on U.S. Equities
By Jennifer YousfiManaging EditorMoney Morning U.S. markets tumbled Friday as a global sell-off spread from Asia and Europe, as fears of a worldwide recession intensified. At the New York close on Friday, the blue-chip Dow Jones Industrial Average Index had plunged 312.62 points (-3.6%), to trade at 8,378.63. The tech-laden Nasdaq Composite Index shed 51.88 […]
Recession Fears Hit Home as World Markets Plummet and U.S. Economy Contracts
By Jennifer YousfiManaging EditorMoney Morning Fear of a global recession is quickly becoming reality as world markets have lost $10 trillion in value in the month of October and the U.S. economy almost certainly contracted in the third quarter. “The growing reality is that this is not just a slowdown, but a true recession,” Joel […]
OPEC Cuts Output by 1.5 Million Bpd as Oil Prices Slump
By Jason Simpkins Associate Editor Money Morning The Organization of Petroleum Exporting Countries (OPEC) Friday said it would cut oil production quotas by 1.5 million barrels a day in an attempt to put a floor under oil prices, which have plunged nearly 60% from their July record. "Oil prices have witnessed a dramatic collapse – […]
World Markets Plunge on Recession Fears
By Jennifer YousfiManaging EditorMoney Morning Equity markets around the world nosedived today (Friday) as fears of a global recession intensified. At noon ET today, the blue-chip Dow Jones Industrial Average Index had plunged 267.46 points (-3.08%), to trade at 8,423.79. The tech-laden Nasdaq Composite Index shed 34.67 points (-2.16%), to reach 1,569.24. And the broader […]