From Staff Reports Chevron Corp. (CVX), the second largest U.S. oil company, yesterday (Wednesday) announced a three-year, $15 billion share buyback program, according to the Associated Press. The company has already spent $15 billion buying back shares over the past three years and is backing the market, doing it again. "We believe it is appropriate […]
Category
U.S. Economy
Housing Sales and Prices Drop As Consumer Confidence Retreats
The news on the U.S. housing market continues to get worse. And the slump is now affecting the consumer psyche. Read the full report here…
GM Strike Could Intensify Economic Slowdown
From Staff Reports In a report from the Associated Press it was revealed that The strike against automaker General Motors Corp. (GM) could do significant damage to the economy, if the two sides can't settle the standoff by the end of the week, The Associated Press reported yesterday (Tuesday). If the two parties settle the […]
Texas Instruments Raises Buyback, Increases Dividend
From Staff Reports Texas Instruments Inc. (TXN), the world's biggest maker of mobile-phone chips, last week boosted its existing share buyback plan by $5 billion and also increased its dividend for the second time this year. The objective: To raise investor confidence after two quarters of to reassure investors after two quarters of declining profit. […]
Dropping Housing Prices, Rising Foreclosures Could Confirm Our Worst Fears
By Jason Simpkins Staff Writer In an interview that conveyed a deep sense of economic gloom last week, former Federal Reserve Chairman Alan Greenspan told Bloomberg News that the odds of a U.S. recession remain "somewhat more" than one in three. Home prices will likely drop further, disrupting consumer spending and undermining investor confidence, Greenspan […]
Quadruple Witching Day Today
By Jason Simpkins Staff Writer Expect increased trading volume and market volatility today (Friday) as index futures, market index options, stock options, and stock futures all expire on the same day. While index futures and options typically share simultaneous expirations on the third Friday of every month, quadruple witching days usually only come about on […]
Google to Hit $600 a share? Looks That Way, Media Writer Says
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, […]
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 […]
Taking a Swing at Rate Cut Opportunities
By Keith Fitz-Gerald Contributing Editor Some days you’re the bug and some days you’re the windshield. Yesterday (Tuesday), there were a whole lot of bugs in the guise of the short-sellers who got squashed on Ben Bernanke’s windshield; they covered their positions at any cost and then limped into the hills to hide. Trading volume […]