Untitled Document From Staff Reports Japanese stocks rose today (Wednesday) – led by financial shares – after Citigroup Inc. said it will buy out the rest of venture-partner Nikko Cordial Corp., and because investors there believe the worst of the U.S. mortgage crisis is likely now over, according to Bloomberg News. Earlier today the bellwether […]
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Fluor to Build Polysilicon Plant in China
Untitled Document From Staff Reports Site preparation has begun for a Xinyu City, China, polysilicon production plant that will be located adjacent to LDK Solar Co. Ltd.'s (LDK) existing solar wafer manufacturing facilities. Fluor Corp (FLR), the U.S.-based engineering-and-construction company, said it landed a contract worth more than $1 billion to provide engineering, design and […]
China Solar Cell Maker JA Solar to Sell $280 Million Worth of Additional Shares
From Staff Reports China-based solar-cell maker JA Solar Holdings Co. Ltd. (JASO) is selling 6.33 million American Depositary Receipts, worth about $280 million based on its closing price of $44.01 yesterday (Monday), Reuters reported that sources said. The pricing of the deal, jointly handled by Credit Suisse (CSGN.VX: Quote, Profile, Research) and Lehman Bros. Holdings […]
Nokia Announces $8.1 Billion Acquisition of Navteq
From Staff Reports Nokia Corporation (NOK), the largest cell phone maker in the world, announced yesterday (Monday) that it plans to buy Chicago-based Navteq (NVT), a leading digital mapmaker, for about $8.1 billion. The proposed deal at $78 a share would be Finland-based Nokia's biggest purchase, and it follows the heels of Nokia's acquisition of […]
Gold Climbs to 27 Year High, Oil Eclipses the $83 Level
By William Patalon III And Jason Simpkins Money Morning Gold prices rallied to their highest level in 27 years Friday, fueled by the continued decline of the U.S. dollar. Meanwhile, crude oil surrendered early price gains, but still managed to stay above the $82 level. Friday marked the close of a quarter that saw pricing […]
Consumer Spending Soars Higher Than Forecast
From Staff Reports The U.S. Commerce Department reported Friday that consumer spending rose more than forecast in the month of August. The 0.6% increase was the biggest in four months, according to Bloomberg News. It is good news that suggests the U.S. consumer has so far been undeterred by the credit crunch and housing slump. […]
CNBC Dismisses Talk of Outside Investor Stepping in at Troubled Bear Stearns
From Staff Reports Shares of Bear Stearns Cos. Inc. (BSC) fell 3% yesterday (Thursday) afternoon after a CNBC report downplayed any talks between the embattled investment bank and potential outside investors – one of whom is rumored to be Berkshire Hathaway Inc.'s (BRK.A, BRK.B) Warren Buffett. After the swing out of positive territory, the shares […]
'Trillion-Dollar' Mine for BHP
From Staff Reports After reporting a near-doubling of the ore reserves at its massive Olympic Dam ore deposit in Southern, BHP Billiton Ltd. (BHP) yesterday (Wednesday) said it is sitting on more than $877 billion worth of copper, uranium and gold, according to published reports in The Australian newspaper. In Australian dollars, the reserves are […]
Defense Contractors See No Sector Slowdown on the Horizon
By Jason Simpkins Staff Writer A number of defense-industry shares hit new highs yesterday (Wednesday), and may have more room to run, according to a report by the Associated Press. Much of the surge can be attributed to Defense Secretary Robert Gates, who requested and additional $42 billion in funding from Congress to cover expenditures […]
Chevron Prepares $15 Billion Buyback
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 […]