Friday, March 28, 2008
Markets Friday, 03/28/2008
| Dow : 12216.40 down 86.06
| S & P : 1315.22 down 10.54
| NASDAQ: 2261.18 down 19.65
| Bond (10Y): 3.44%, 100.47
MARKETS:
Stocks skid for 3rd day
Wall Street gives up early rally attempt to finish lower for third
straight day. Worries about consumers and more weakness in bank stocks
scare investors.
U.S. real consumer spending flat in February
U.S. consumer spending was flat in February after adjusting for
inflation, the third consecutive month of weak consumer demand, the
Commerce Department reports.
Lofty egg prices showing no sign of cracking soon
SAN FRANCISCO
If you haven't shopped for eggs lately, get ready for some
sticker-shock: A dozen eggs cost $2 or more in most U.S. cities, up
about 45% in just eight months.
Capitol Report: Costly heating oil cools demand, prompts calls for
regulation
NEW YORK
The $ 1,000 fill-up slip for homeowners heating with oil has been
increasingly more common this winter in some areas of the northeast. So
too are the stories of crying customers confronted with fixed-incomes
and soaring prices for fuel.
Legg tries to sort out auction rate securities mess
NEW YORK
Asset manager Legg Mason said it is urgently trying to generate
liquidity for shareholders of seven closed-end funds it manages that
collectively own more than half a billion dollars of unsellable
auction-rate preferred securities.
Stocks tumble for a 3rd straight day on persistent economic fears due to J.C. Penney profit warning, more financial firm turmoil.
Stocks tumble for a 3rd straight day on persistent economic fears due to
J.C. Penney profit warning, more financial firm turmoil.
U.S. stocks up for third day in five on Lehman upgrade
U.S. stocks up for third day in five on Lehman upgrade
U.S. stocks advance after an upgrade of Lehman Brothers.
Financial stocks rise, Citi says "buy Lehman shares"
NEW YORK
U.S. financial stocks drifted higher Friday morning, aided by a 4% jump
in shares of Lehman Bros. Holdings after an analyst at Citigroup said
the shares should be bought. The analyst said the firm does not face a
liquidity crisis and that the shares are attractively priced. In the
broader sector, the Financial Select Sector SPDR , an ETF that tracks
the financial stocks in the S&P 500, rose 0.2%.
Cayne unloads entire stake in troubled Bear Stearns
Bear Stearns Cos. Chairman James Cayne sold $61.3 million of company
stock this week amid a controversial acquisition of the struggling
investment firm by J.P. Morgan Chase & Co., according to a regulatory
filing.
J.C. Penney slashes first-quarter outlook; shares tumble
Citing weaker-than-expected sales, J.C. Penney Co. slashes its
first-quarter profit forecast, a move which provides further evidence of
a slowdown in consumer spending on department-store items.
Futures Movers: Crude drops nearly 2%, retracing back below $106 a
barrel
Crude-oil futures drop 1% following their surge in the previous session,
as the market follows the situation in Iraq.
Personal income for February rises 0.5%, personal spending up 0.1%; both stronger than expected.
Personal income for February rises 0.5%, personal spending up 0.1%; both
stronger than expected.
Thursday, March 27, 2008
Markets Thursday, 03/27/2008
| Dow : 12302.46 down 120.40
| S & P : 1325.76 down 15.37
| NASDAQ: 2280.83 down 43.53
| Bond (10Y): 3.53%, 99.69
MARKETS:
Wall Street deflates on banks, tech
Stocks drop at end of jittery session as disappointing news in the
financial and tech sectors offsets upbeat employment report.
Primary dealers borrow $37 billion from Fed
Primary dealers borrow $37 billion from Fed
Investment banks and broker dealers borrowed more than $30 billion a day
from the Federal Reserve's discount window this past week, but showed
only tepid interest in a separate 28-day lending facility from the Fed
that got under way on Thursday.
Market Snapshot: U.S. stocks tally second day of losses as technology
weigh
U.S. stocks close sharply lower, with technology shares pressured by
disappointing numbers from Oracle Corp. and Google Inc., while crude-oil
prices stay close to $107 a barrel.
Oracle shares slide on disappointing sales
Shares of Oracle Corp. fall as much as 8% in premarket trading after the
company's quarterly sales disappointed Wall Street.
Judge orders banks to fund $19 billion Clear Channel buyout
The group of banks says it will fight the ruling in favor of
private-equity firms buyint out Clear Channel, as well as continue
seeking to rework the deal.
Dow Industrials close down 120 points as technology woes, crude oil weigh
Dow Industrials close down 120 points as technology woes, crude oil
weigh
3/27/2008 4:08:51 PM
U.S. stocks edge lower on Oracle, Google woes
U.S. stocks edge lower on Oracle, Google woes
U.S. stocks edge lower, with technology shares pressured by
disappointing numbers from Oracle Corp. and Google Inc., while crude-oil
prices stay close to $106 a barrel.
Judge orders banks to fund $19 billion Clear Channel buyout
A Texas judge has ordered six investment banks to fund the imperiled $19
billion buyout of Clear Channel Communications by two private-equity
firms.
Oracle shares slide on disappointing sales
Shares of Oracle Corp. fall as much as 8% in premarket trading after the
company's quarterly sales disappointed Wall Street.
General Electric reaches pacts with AmEx, Santander
General Electric reached separate deals with American Express and Banco
Santander, getting $1.1 billion in cash and an Italian banking operation
in return for selling its corporate card business and various European
personal finance units.
Economic Report: GDP unrevised at 0.6%, weakest U.S. growth since 2002
The U.S. economy slowly abruptly in the fourth quarter, growing at a
0.6% annual rate, the slowest pace since late 2002, the Commerce
Department estimates.
U.S. stocks mixed at open as Oracle's sales disappoint tech investors amid tame economic news.
U.S. stocks mixed at open as Oracle's sales disappoint tech investors
amid tame economic news.
Fourth-quarter GDP unchanged at 0.6% annual growth; initial jobless claims declined last week, Dow Jones reports.
Fourth-quarter GDP unchanged at 0.6% annual growth; initial jobless
claims declined last week, Dow Jones reports.
Wednesday, March 26, 2008
Markets Wednesday, 03/26/2008
| Dow : 12422.86 down 109.74
| S & P : 1341.13 down 11.86
| NASDAQ: 2324.36 down 16.69
| Bond (10Y): 3.46%, 100.28
MARKETS:
Down day on Wall Street
Stocks sink on surging oil and gold prices, and weak reports on factory
orders and housing.
Oracle's application license sales disappoint
Oracle's application license sales disappoint
Oracle Corp. reports its fiscal third-quarter profit rose compared with
the same period a year earlier, though its overall revenue and sales of
new applications licenses fall shy of Wall Street analysts'
expectations.
U.S. stocks end lower as economic worries mount
U.S. stocks close lower as signs of waning business spending re-ignite
worries about the economy and news that a buyout of Clear Channel
Communications Inc. is in jeopardy weighs on sentiment.
Paulson resists more government action to solve mortgage crisis
WASHINGTON
U.S. Treasury Secretary Henry Paulson continues to argue against more
government intervention in the mortgage crisis, saying a cluster of
ideas currently floating around would "cause more harm than good."
Ford to sell Jaguar Land Rover to India's Tata for $2.3 billion
Ford Motor Co. agreed to sell its Jaguar Land Rover operations to
India's Tata Motors for $2.3 billion and will contribute as much as
$600 million to the unit's pension plan.
Motorola plans to split in two; Icahn said not a factor in move
Motorola Inc. said its board of directors has approved a plan to break
the conglomerate into two independent, publicly traded companies in the
face of growing pressure to shore up its ailing stock price.
Stocks get floored as investors react to surging oil, a weak dollar and bearish outlook for bank earnings.
Stocks get floored as investors react to surging oil, a weak dollar and
bearish outlook for bank earnings.
U.S. stocks in broad slide as economic worries mount
U.S. stocks in broad slide as economic worries mount
U.S. stocks tumble as an unexpected slide in February factory orders
reignites worries about the economy and news that a buyout of Clear
Channel Communications Inc. might be in jeopardy also weighs on
sentiment.
Economic Report: Demand for durable goods falls 1.7% in Feb.
Demand for machinery and other capital goods sank in February, driving
orders for durable goods down 1.7%, the Commerce Department reports.
Economic Report: New-home sales fall to 13-year low in February
Sales of new homes in the United States fell to a 13-year low in
February, dropping 1.3% to a seasonally adjusted annual rate of 590,000,
the Commerce Department estimates.
Ford to sell Jaguar Land Rover to India's Tata for $2.3 billion
Ford Motor Co. agreed to sell its Jaguar Land Rover operations to
India's Tata Motors for $2.3 billion and will contribute as much as
$600 million to the unit's pension plan.
Motorola plans to split in two; Icahn said not a factor in move
Motorola Inc. said its board of directors has approved a plan to break
the conglomerate into two independent, publicly traded companies in the
face of growing pressure to shore up its ailing stock price.
Orders for manufactured goods tumbled unexpectedly in February, falling 1.7%.
Orders for manufactured goods tumbled unexpectedly in February, falling
1.7%.
U.S. stocks edge lower at open after a report showing a surprisingly sharp decline in orders for manufactured goods.
U.S. stocks edge lower at open after a report showing a surprisingly
sharp decline in orders for manufactured goods.
U.S. new-home sales fall to 13-year low
U.S. new-home sales fall to 13-year low
3/26/2008 10:01:53 AM
Crude-oil futures surge $3 a barrel after U.S. supply update
Crude-oil futures surge $3 a barrel after U.S. supply update
3/26/2008 10:43:08 AM
Tuesday, March 25, 2008
Markets Tuesday, 03/25/2008
| Dow : 12532.60 down 16.04
| S & P : 1352.99 up 3.11
| NASDAQ: 2341.05 up 14.30
| Bond (10Y): 3.50%, 99.94
MARKETS:
Techs gain after tough session
Nasdaq and S&P 500 hold on to slim gains, while the Dow ends lower as
investors try to look beyond weak reports on housing and consumer
confidence.
U.S. stocks end mixed; Nasdaq leads index gains
U.S. stocks end mixed; Nasdaq leads index gains
U.S. stocks close mixed, with investors weighing agriculture giant
Monsanto's double-digit gains and improved forecast against downbeat
data on housing and consumer sentiment.
Due Diligence: IBM shares still have upside despite run-up, Wall Street
says
Among big names in the tech sector, Dell shares are down, along with
Microsoft's, H-P's and Apple's. Then there is IBM.
Emerging Markets Report: Pakistan's political stability critical for the
local market
NEW YORK
The swearing in of Pakistan's new prime minister is a step toward
restoring political stability in this year's best performing emerging
market, but the outlook for Pakistan is a mix of untapped economic
potential and significant political risks, analysts said.
Monsanto ups profit view on corn, herbicide strength
Monsanto rings up double-digit gains after the agriculture giant boosted
its profit forecast on its core corn seed and herbicide business.
Election Notebook: McCain calls on lenders to help in mortgage crisis
Sens. Hillary Clinton and John McCain get down to business on opposite
sides of the country, talking to voters about economic issues on their
latest stops along the campaign trail.
U.S. stocks add to losses as consumer confidence falls
U.S. stocks add to losses as consumer confidence falls
U.S. stocks pull back, solidifying early losses after data showing
consumer expectations at a 35-year low and home values falling further.
Economic Report: March consumer confidence down, outlook grim
U.S. consumer confidence falls hard in March, while expectations hit a
35-year low on pessimistic views of the business climate, job market and
personal income.
Economic Report: Home prices plunge a record 10.7% in past year
Home prices in 20 major U.S. metro areas plunge a record 10.7% in the
past year as prices continue to decelerate, Standard & Poor's says.
Monsanto ups profit view on corn, herbicide strength
Monsanto rings up double-digit gains after the agriculture giant boosted
its profit forecast on its core corn seed and herbicide business.
Valero warns on profit over costs for raw materials, refineries
NEW YORK
Valero Energy Corp.'s warning of sharply lower refining margins brought
the company's own outlook below Wall Street's own diminished
expectations for the struggling refiner, whose profits are under severe
pressure from soaring crude-oil prices and a spate of costly refinery
outages.
A key measure of consumer confidence tumbled more than expected, hitting a five year low in March, AP reports.
A key measure of consumer confidence tumbled more than expected, hitting
a five year low in March, AP reports.
Home prices in 20 key markets declined 10.7% in January over last year, indicating no real estate turnaround in sight.
Home prices in 20 key markets declined 10.7% in January over last year,
indicating no real estate turnaround in sight.
Monday, March 24, 2008
Markets Monday, 03/24/2008
| Dow : 12548.64 up 187.32
| S & P : 1349.88 up 20.37
| NASDAQ: 2326.75 up 68.64
| Bond (10Y): 3.55%, 99.53
MARKETS:
Stocks make it 2 for 2
JP Morgan's improved offer for Bear Stearns lifts financial stocks and
the broader market, with Wall Street advancing for second session in a
row.
U.S. stocks extend rally on hopes for better times ahead
U.S. stocks extend rally on hopes for better times ahead
U.S. stocks extend last week's solid gains, rallying as J.P. Morgan
agreed to increase its acquisition bid for Bear Stearns and as economic
data pointed to signs of stability in the troubled housing sector.
Bear Stearns shares double; J.P. Morgan Chase sweetens bid
Shares of Bear Stearns finish nearly 90% higher after J.P. Morgan raises
its buyout price for the firm to $10 a share from $2 a share.
Economic Report: Home resales rise in February on record price decline
Boosted by a record decline in prices, the U.S. housing market shows
signs of stability in February, with sales of existing home rising
modestly for the first time in seven months.
Commodities rebound, but more volatility is ahead
Commodity prices rebound following their plunge last week, but analysts
see more volatility in the short term and some are questioning the
fundamentals of the commodity bull market.
Wall Street pulls off a second-straight win as JPMorgan's improved Bear Stearns offer boosts stocks.
Wall Street pulls off a second-straight win as JPMorgan's improved Bear
Stearns offer boosts stocks.
U.S. stock indexes higher on housing, Bear news
U.S. stock indexes higher on housing, Bear news
U.S. stocks sharply higher after word that J.P. Morgan is in discussions
to increase by five fold its acquisition bid for Bear Stearns.
Bear Stearns shares double as J.P. Morgan sweetens bid
Shares of Bear Stearns rise more than 50% in pre-market moves after news
J.P. Morgan may raise its buyout price for the firm to $10 a share from
$2 a share.
Tiffany shares jump as outlook lifted
Tiffany stock moves higher after the luxury-goods retailer raises its
profit forecast for the current fiscal year.
Economic Report: Home resales rise in February on record price decline
Boosted by a record decline in prices, the U.S. housing market showed
signs of stability in February, with sales of existing home rising
modestly for the first time in seven months.
Icahn sues Motorola over records of CEO selection and use of jet
Carl Icahn renewed his fight against Motorola Inc., filing a lawsuit
seeking records relating to the strategy of its troubled mobile device
business and other matters, including use of the company jet by top
executives.
JPMorgan Chase to buy 39.5% of Bear Stearns Cos. for a raised offer price of $10 a share.
JPMorgan Chase to buy 39.5% of Bear Stearns Cos. for a raised offer
price of $10 a share.
U.S. existing home sales rose 2.9% in February on a record year-over-year price drop.
U.S. existing home sales rose 2.9% in February on a record
year-over-year price drop.
U.S. stocks edge up at open as investors await talk of JPMorgan potentially upping its bid for Bear Stearns.
U.S. stocks edge up at open as investors await talk of JPMorgan
potentially upping its bid for Bear Stearns.
