By Don Miller Associate Editor Money Morning Employers cut 539,000 jobs in April, the lowest total in six months, but the Labor Department said the unemployment rate still soared to 8.9%, from 8.5% in March. While some analysts viewed the latest report as a sign of a nascent economic recovery, the unemployment numbers are almost […]
Archives for May 2009
May 2009 - Page 8 of 11 - Money Morning - Only the News You Can Profit From
Buy, Sell or Hold: Corning is About to Profit From the Global Broadband Arms Race
There is a giant bonanza coming Corning Inc.’s (NYSE: GLW) way, and it’s going to start hitting the company’s bottom line later this year. What’s more, there is tremendous upside for the company’s stock that is not yet reflected at all in Corning’s share price. Corning is already surprising everybody – maybe even itself – well […]
SAIC, China’s No. 1 Carmaker, to Launch Series of Hybrid Cars
Money Morning Staff Reports SAIC Motor Co. Ltd., China's largest carmaker and the partner of both General Motors Corp. (NYSE: GM) and Volkswagen AG (OTC ADR: VLKAY) in that fast-growing Asian country, plans to launch a series of hybrid and electric vehicles by 2012 – part of a move by China's carmakers to meet the […]
Bank of America Planning Stock and Asset Sales to Appease Government Requirements
By Jason Simpkins Managing Editor Money Morning Bank of America Corp. (NYSE: BAC) plans to sell assets and issue more common stock after being told by the federal government that it must raise $33.9 billion to adequately guard against "more adverse" economic conditions. Bank of America was one of 10 banks told by the government […]
Investment News Briefs
With our investment news briefs, Money Morning provides investors with a quick overview of the most important investing news stories from all around the world. Consumer Credit Falls to Record Low in March; GM Burns Through $10.2 Billion in First Quarter; Commercial Mortgage Delinquencies Soar to 11-Year High; Retailers Report Better-Than-Expected Sales in April; FBI […]
Is China Detroit's Lifeline?
By Keith Fitz-GeraldInvestment DirectorMoney Morning/The Money Map Report HONG KONG SPECIAL ADMINISTRATIVE REGION, People’s Republic of China – As deep as the U.S. auto industry’s financial crisis seems to be, there may actually be a fairly simple solution. Sell out to China. Nearly a decade ago, I warned that Detroit’s Big Three – General Motors […]
Bank Stress Tests: The Results Are in; Now What?
By Jason SimpkinsManaging EditorMoney Morning The results of the government’s bank stress tests were released yesterday (Thursday), and the U.S. Federal Reserve has directed 10 banks to raise an aggregate $70 billion-plus in capital. Banks that require funding will have 30 days to present a capital-raising strategy to regulators and then six months to implement […]
Hot Stocks: Sirius First-Quarter Loss Narrows on Slight Increase in Revenue
Money Morning Staff Reports Sirius XM Radio Inc. (Nasdaq: SIRI), the New York-based provider of subscription-based satellite radio services, today (Thursday) reported that it cut its first-quarter loss in half on a 5% increase in revenue. The company also boosted its fiscal 2009 financial outlook. Sirius shares were down 8.7 cents each, or 16.62%, and […]
Obama’s Miniscule Budget Cuts Face Stiff Opposition
By Don MillerAssociate EditorMoney Morning President Barack Obama sent lawmakers a budget package today (Thursday) that proposes to shrink or eliminate 121 federal programs and save almost $17 billion in the fiscal year that begins Oct. 1. But the budget plan contains cuts that will face vigorous opposition in Congress and fierce resistance from special […]
Bank Stress Tests Results Leaked
By Jason SimpkinsManaging EditorMoney Morning The results of the government's bank stress tests won't be released until 5 p.m. today, but people familiar with the tests and banks involved have already leaked some of the results. The U.S. Federal Reserve has directed at least seven banks to raise more than $65 billion in capital, according […]