By Mike Caggeso Staff Writer Sources inside Campbell Soup Co. (CPB) say the company is seeking to sell its Godiva chocolate division for $1 billion to $1.5 billion, Bloomberg News reported Friday. On Aug. 9, the world's largest soup maker said it was contemplating the fate of Godiva, which makes up about 7% (or $7.3 […]
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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 […]
CRH eyes possible $4.5 billion buyout of Cemex operations
From Staff Reports Dublin-based CRH PLC (CRH) is eyeing a possible $3.5 billion to $4.5 billion acquisition of Cemex SAB's (CX) concrete plants, cement division and pipe-making unit, the companies announced yesterday (Monday). For CRH, the world's second-biggest maker of building materials, it's all about timing. The majority of the assets that the Monterrey, Mexico-based […]
Nokia buys mobile advertiser Enpocket, T-Mobile buys SunCom
From Staff Reports Nokia Corp. (NOK) announced yesterday (Monday) that it will buy the privately held, Boston-based mobile advertiser Enpocket for an undisclosed amount. Enpocket advertises to cell-phone users by displaying ads in downloaded video clips and text messages. It also generates user information such as location and key words searched to package high-response advertisements. […]
U.S and Japan Take to the Skies
From Staff Reports The Financial Times recently reported that the United States and Japan have agreed to expand their air-services agreement for the first time in ten years. The agreement provides additional access for direct passenger and cargo flights and connecting services throughout Asia. The first amendment to the deal originally reached in 1998 is […]
Emerging Markets Weathering Economic Storm
From MoneyWeek Magazine Reduced inflation, lower interest rates and lighter government debt burdens have strengthened developing nations’ infrastructure and allowed them to weather the current subprime-induced global jitters. The MSCI Emerging Market Index has bounced back from August’s slide and it up 2% since the beginning of July. The S&P 500 was down 1.75% during […]
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 […]
Deutsche Bank Launches $1.27 Billion "Samurai" Bond
From Staff Reports Deutsche Bank AG (NYSE:DB), Germany's largest bank, announced Friday the launch of an anticipated $1.27 billion "Samurai" bond issue in Japan. The new bond issues consists of five-year fixed (2.3% rate) and floating-rate tranches and a 10-year fixed-rate (1.77%) tranche. Deutsche Bank tapped into the capital markets with bonds and swap instruments […]
Crude Oil Over $80 a Barrel
By Jason Simpkins Staff Writer October crude oil closed at $80.09 a barrel yesterday (Thursday) – the first close above $80 for a New York Mercantile Exchange futures contract. Money Morning projected $80-a-barrel oil at the beginning of August [To read our investment-analysis article, “Is Crude Oil on a Flight to $80 Barrel?” click here]. […]