From Staff Reports Google Inc. (GOOG) at $600 a share? Media analyst and columnist Paul R. La Monica says it’s more than just possible – it’s probable. The shares of the search-engine gorilla dipped below the $500 level in mid-August after the company missed its second-quarter earnings numbers in July. Then there’s the credit crunch, […]
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Stocks
Global Business Roundup: BoE Injects $20B, Steel Prices Surge, Arcelor on the Prowl, Mitsubishi Plugs Into Russia, H-P is Taken With Taiwan, Hyundai Eyes China, and More
In other top business and financial stories from around the world: The Bank of England said yesterday (Wednesday) that it would inject $20 billion into the long-term money markets next week because of the ongoing worldwide credit crunch. The British central bank is addressing liquidity issues in the so-called “Interbank” market – where commercial banks […]
Honeywell Snags a $16 Billion Contract for Airbus' A350 aircraft
From Staff Reports Honeywell International Inc. (HON) announced yesterday (Wednesday) that it won a $16 billion contract to provide mechanical systems for Airbus SAS’s long-range, wide-body A350 aircraft. The 20-to 25-year contract will give New Jersey-based Honeywell, the world’s biggest maker of auxiliary power generation units, clearance to design and build systems that supply pneumatic […]
Shares of Baidu - "China's Google" - Surge
From Staff Reports Shares of Chinese search engine Baidu (BIDU) hit a record high yesterday (Monday) after an RBC Capital Markets analyst increased his price target for the stock on expectations for a solid third quarter, according to The Associated Press. In a note to clients Monday, RBC analyst Jordan Rohan raised his price target […]
U.S. Fed Readies Itself For All the Right Moves
As we await the announced decision of U.S. Federal Reserve policymakers today, there are some very important facts to keep in mind. First and foremost is this: The fears of a recession are highly exaggerated. The U.S. economy has good momentum, the American consumer is still spending, and we believe that central bank will reduce […]
Bellwether Blue Chip Stocks Record Best Week Since April
From Staff Reports Blue chip stocks had their best week since April last week, with the Dow Jones Industrial Average gaining 2.5% for the week. That 30-stock index is now up 7.9% for the year, according to The Wall Street Journal. The Dow gained 17.64 points, or 0.1%, on Friday, ending the day and the […]
No Hope For Newspapers?
By William Patalon III Managing Editor The daily newspaper has been as much a part of American life as apple pie, baseball and hot dogs. And, for many years, it was also a staple of American investment portfolios. Newspaper stocks were once a top-tier holding. As late as the middle 1980s, newspaper-publishing companies still offered […]
'AirAmerica' Radio Broadcast Cites Money Morning Stories on $900 Million 'Mystery Trade'
From Staff Reports When 'Air America Radio's' Radio's popular new coast-to-coast program "Clout" was researching a story on the 'Mystery Trade' in Standard & Poor's 500 Index options S&P 500 Index options (SPY) yesterday (Thursday), the show's executive producer turned to Money Morning to get to the bottom of the story. Recognizing that we were […]
U.S., Overseas Stocks Rise, Gold Slips
From Staff Reports U.S. stocks soared yesterday (Thursday) on a better-than-expected unemployment report and a “super-sized” boost to McDonald Corp.’s (MCD) dividend payout. General Motors Corp. (GM) and Microsoft Inc. (MSFT). The Dow Jones Industrial Average rocketed 168.59 points, or 1.27%, to close at 13,460.24. The broader Standard & Poor’s 500 Index climbed 16.98 points, […]
Harley Davidson Takes A Spill
From Staff Reports Harley Davidson Inc. stock (NYSE: HOG) has taken a hard spill after announcing it expects earnings to fall this year. "Our U.S. dealers' retail sales have fallen sharply during August," said Harley Chief Executive Officer Jim Ziemer. "Against the current economic background, we no longer expect worldwide dealer retail sales to increase […]