Category

Stocks

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 […]

Read More…

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 […]

Read More…

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. […]

Read More…

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, […]

Read More…

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, […]

Read More…

Analyst: U.S. Commercial Printing Could Offer Refuge From A Volatile Market

By Jason Simpkins If you’re looking for a safe haven in today’s volatile U.S. stock market, Piyush Sharma, a senior equity research analyst for Longbow Research, has suggested the commercial printing industry might be a good place to seek shelter. Markets have been extremely sensitive recently as credit problems continue to escalate. The Dow Jones Industrial […]

Read More…

The Second Quarter Votes are in: Global Gains Trump Domestic Pains

By William Patalon III And Mike Caggeso When Deere & Co. yesterday (Wednesday) reported a 23-jump in quarterly profits, the agricultural-equipment maker said that a 5% sales slump in its North American market was more than offset by a 30% revenue gain in the company’s overseas markets. The Moline, Ill.-based Deere (NYSE: DE)  – known […]

Read More…

Nestle Loses AAA Rating From Fitch on $21 Billion Buyback

From Staff Reports And then there were three. It sounds like the title for an Agatha Christie novel, but it’s actually a commentary on the change in the top-tier of the global corporate credit market. European food giant Nestlé SA (OTC: NSRGY), the last European firm with the triple-A trifecta – Triple-A grades from Moody's […]

Read More…

Credit, Consumer Worries Slap Stocks

The credit crisis may get worse before it gets better in the coming months, as more than 2 million adjustable rate mortgages (ARMs) are ready to "re-set" – industry parlance for boosting their rates.

Read More…