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 […]
Category
Stocks
'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 […]
Alcoa Sells Chalco Stake for $2 Billion
From Staff Reports Alcoa Inc. (AA ), the biggest U.S.-based aluminum producer, has sold its nearly 7% stake in China's largest aluminum maker for $2 billion. The Pittsburgh-based Alcoa sold its interest in Aluminum Corporation of China Ltd., also known as Chalco (ACH ), for the equivalent of $2.23 a share, a 15% discount to […]
Low Consumer Confidence Unlikely to Motivate the Fed; Stocks Plunge
By Jason Simpkins Staff Writer Worries about the strength of the U.S. economy coupled with questions about the central bank’s willingness to intercede sent shares into an outright freefall yesterday (Tuesday), with the Dow Jones Industrial Average shedding more than 280 points. The bellwether 30-stock Dow plunged 280.28 points – or 2.1% – to close […]
Dubai's Investment Arm Grabs Stake in MGM
By Mike Caggeso Staff Writer Dubai's extended its state-funded global reach a bit further yesterday (Wednesday) when its Dubai World investment arm agreed to pay $5.1 billion for a 9.5% stake in investor Kirk Kerkorian's MGM Mirage (NYSE:MGM). Dubai World is a holding company for the Persian Gulf state. News of the deal sent MGM […]
Wm Wrigley Capitalizing on Innovation, Global Reach
From Staff Reports Brokerage Bear Stearns Cos. (NYSE: BSC) yesterday (Tuesday) upgraded gum-and-candy maker Wm Wrigley Jr. Co. (NYSE: WWY) to “peer perform” from “underperform,” citing Wrigley’s better-than-expected competitive response to a competitive threat from rival Cadbury Schweppes (NYSE: CSG), as well as ongoing momentum in the developing markets and continued success with new products. […]
Dow Rallies After Early Concerns Subside
By Jason Simpkins Staff Writer U.S. stocks posted moderate gains yesterday (Monday) – rebounding from early setbacks – as still-fretting investors get ready to navigate a stretch that will be largely bereft of corporate earnings reports or critical economic reports. The Dow Jones Industrial Average climbed 42.27 points, or 0.32%, yesterday to close at 13,125.35, […]
Fed Cuts Discount Rate; Stocks Rebound
By Jason Simpkins The U.S. Federal Reserve cut the discount rate to 5.75% Friday, and in a statement indicated that it is "prepared to act as needed to mitigate the adverse effects on the economy arising from the disruptions in financial markets." The Fed kept the benchmark Federal Funds rate at 5.25%. Discount window borrowing, […]