By Martin Hutchinson Contributing Editor Money Morning Last week's economic data told us two things. First, this recession is almost certainly going to be the worst since World War II. Second, the pit isn't bottomless; there are faint signs of a landing – although it is still some considerable way further down. For investors, the […]
Archives for March 2009
March 2009 - Page 9 of 12 - Money Morning - Only the News You Can Profit From
Is GE Next in Line for Government Bailout?
By Don Miller Associate Editor Money Morning Even though it just posted its third-highest annual profit ever, investors hammered shares of U.S. industrial giant General Electric Co. (GE) last week on a triple play of bad news: Its first dividend cut in 71 years. Speculation over a possible credit-ratings downgrade. And growing worries that the […]
Global Investment News Briefs
OPEC May Cut Output Again; McClatchy Cans 1,600; Malaysia May Quadruple Stimulus; Public Transportation Ridership at 52-Year High; AIG Warned Feds of "Catastrophic" Collapse; Wells Fargo Shares Rise on Buffett Comments; Capital One Cuts Dividend 87% The Organization of Petroleum Exporting Countries (OPEC) needs to cut its oil output by an additional 800,000 barrels a […]
Merck Stokes M&A Fires with $41.1 Billion Bid for Schering-Plough
By Don Miller Associate Editor Money Morning Merck & Co. Inc. (MRK) today (Monday) agreed to pay $41.1 billion in stock and cash for Schering-Plough Corp. (SGP), forming the world's second-largest prescription drugmaker. It's the second mega-deal for Big Pharma this year, as Pfizer Inc. (PFE) made a $68 billion offer for Wyeth (WYE) in […]
World Bank: Emerging Markets Will Take Brunt of First Global Economy Decline Since WWII
By Mike Caggeso Associate Editor Money Morning The World Bank estimates that the global economy will likely shrink for the first time since World War II – at least five percentage points below potential – and emerging markets will suffer the hardest hits with severe long-term implications. In its latest report, "Swimming Against the Tide: […]
As the Economy Worsens, Experts Call for Obama to Focus on the Fundamentals
By William Patalon IIIExecutive EditorMoney Morning/The Money Map Report In sports, championship-caliber teams all have at least one characteristic in common: They’re able to focus on the fundamentals. With the U.S. unemployment rate jumping to its highest level in a quarter century in February, it’s become abundantly clear that that the U.S. recession is much […]
Buy, Sell, or Hold: Profit From the Projected Oil-Price Rebound With Diamond Offshore
In the face of the global financial meltdown, the price of oil has plummeted from a record high of almost $150 a barrel in July to less than $40 recently. And now it seems to be bottoming. Clearly, this isn’t the precise moment to call a market bottom, but it is reasonable to think about a […]
As Economic Reports Worsen, Experts Predict a Longer Downturn
By William Patalon III Executive EditorMoney Morning/The Money Map Report Back in December, with the U.S. recession in its 12th month – and showing no signs of abating – Money Morning Contributing Editor Martin Hutchinson warned that an “L”-shaped recession was very possible. The U.S. recession is now in its 15th month, and many economists […]
Job Losses Continue to Mount in February, Unemployment Rate Soars to 8.1%
By Jason Simpkins Managing Editor Money Morning The U.S. economy shed 651,000 jobs last month, the Labor Department reported Friday, the third-largest monthly total since the government began compiling data in 1939. It’s the first time since 1939 that job losses have exceeded 600,000 for three consecutive months, as revisions for December and January showed […]
Global Investment News Briefs
Auditors: GM Bankruptcy Necessary; Ford Plans to Reduce Debt by 40%; Wal-Mart Feb. Numbers Strong; Google Sitting on $8.6 Billion in Cash; Mortgage Delinquencies Hit Record High; Blockbuster Won’t File for Bankruptcy; Citigroup Shares Break the Buck; Oil Falls Below $44 The auditors at General Motors Corp. (GM) have raised “substantial doubt” about the carmaker’s […]