Friday, April 11, 2008
Markets Briefings Friday, 04/11/2008
| Dow : 12325.42 down 256.56
| S & P : 1332.83 down 27.72
| NASDAQ: 2290.24 down 61.46
[ Bond (10Y): 3.47%, 100.22
MARKETS:
Down day, down week on Wall Street
Weaker-than-expected results from Dow component and a sharp drop in a
consumer sentiment measure drag down stocks.
Market Briefing Newsletter for Friday, 04/11/2008
| Dow : 12325.42 down 256.56
| S & P : 1332.83 down 27.72
| NASDAQ: 2290.24 down 61.46
[ Bond (10Y): 3.47%, 100.22
MARKETS:
Down day, down week on Wall Street
Weaker-than-expected results from Dow component and a sharp drop in a
consumer sentiment measure drag down stocks.
U.S. stocks unplugged by GE; close with weekly declines
U.S. stocks unplugged by GE; close with weekly declines
U.S. stocks sink to April lows and weekly losses, with the market undone
by General Electric Co.'s earnings miss, jolting investors and casting
a bleak light on a slew of earnings reports next week.
G7's goal is to rebuild confidence, so unity expected to prevail
WASHINGTON
The finance ministers and central bank governors of the wealthy G7
nations have begun their closed door meeting at the Treasury Department
on Friday afternoon with the stated goal of rebuilding confidence and
stability in financial markets.
GE warning renews fears of financial aftershocks
Wall Street, basking in optimism that the credit crisis may be past,
gets rained on after a surprise drop in earnings from bellwether General
Electric, renews fears of persistent economic aftershocks.
GE posts surprise 6% profit fall, cuts 2008 outlook
General Electric Co. pulls an unpleasant surprise on investors,
reporting a 6% drop in first-quarter net profit -- largely over trouble
in its financial-services businesses -- and revising lower its 2008
outlook.
Major Yahoo holder boosts stake as board meets to discuss options
SAN FRANCISCO
A major Yahoo Inc. shareholder has boosted its stake in the company as
the beleaguered Web portal has worked to resist a large takeover offer
from Microsoft Corp.
U.S. stocks plunge on General Electric shock
U.S. stocks plunge on General Electric shock
U.S. stocks sharply lower as investors received a jolt courtesy of
General Electric Co.'s earnings miss and reduced forecast, with the
surprisingly negative report from one of the world's biggest companies
casting a gloomy tone.
GE posts surprise 6% profit fall, cuts 2008 outlook
General Electric Co. pulls an unpleasant surprise on investors,
reporting a 6% drop in first-quarter net profit -- largely over trouble
in its financial-services businesses -- and revising lower its 2008
outlook.
Dow tumbles over 100 points as investors unload stocks in reaction to disappointing GE earnings.
Dow tumbles over 100 points as investors unload stocks in reaction to
disappointing GE earnings.
Thursday, April 10, 2008
Markets Thursday, 04/10/2008
| Dow : 12581.98 up 54.72
S & P : 1360.55 up 6.06
| NASDAQ: 2351.70 up 29.58
| Bond (10Y): 3.54%, 99.66
MARKETS:
Techs fuel bigger advance
Nasdaq jumps on Intel upgrade, talk of Yahoo-AOL deal, giving a boost to
the broader market. Investors take in stride mixed March retail sales.
U.S. stocks end higher, lifted by Wal-Mart sales, Intel upgrade
U.S. stocks end higher, lifted by Wal-Mart sales, Intel upgrade
U.S. stock indexes close higher after two days of losses, with a
forecast from Wal-Mart and a broker upgrade for Intel helping to
overshadow disappointing retail sales.
FAA: Wiring on MD-80s needs to be rebundled
The Federal Aviation Administration warns that if the wires within the
wheel wells of MD-80 aircraft aren't properly bundled, there is a
chance of an explosion, however slight.
Housing-aid plans move forward in Washington
WASHINGTON
The Senate approved a package of tax breaks and funds for foreclosure
counseling on Thursday, as House lawmakers moved forward with a separate
measure aimed at allowing the government to back billions of dollars in
refinanced loans.
Slowdown biting into discretionary retail sales
Economic worries and cold weather coupled with an early Easter and lack
of fashions combined to delvier retailer's worse-than-expected sales
last month.
Crowded stage heightens odds of a sweeter Yahoo bid: analysts
After weeks of speculation that Microsoft Corp. would end up the sole
serious suitor for Yahoo Inc., potential white knights have suddenly
appeared on the horizon.
Stocks hang on to finish higher after improved outlooks from Wal-Mart and DuPont; Intel upgrade led tech rally.
Stocks hang on to finish higher after improved outlooks from Wal-Mart
and DuPont; Intel upgrade led tech rally.
Senate passes bill aimed at stabilizing housing market; legislation faces uncertain future in the House.
Senate passes bill aimed at stabilizing housing market; legislation
faces uncertain future in the House.
Wall Street gets a lift from Wal-Mart sales, Intel upgrade
Wall Street gets a lift from Wal-Mart sales, Intel upgrade
U.S. stock indexes pull solidly after two days of losses, with a
forecast from Wal-Mart and a broker upgrade for Intel helping to
overshadow disappointing retail sales.
American Airlines cancels additional 900 flights
American Airlines on Thursday cancels more than 900 additional flights
as the nation's largest carrier moved into a third day of safety
inspections for its MD-80 fleet.
Google, AOL and News Corp. re-emerge in Microsoft-Yahoo battle
The battle between Yahoo Inc. and Microsoft Corp. has escalated by
several notches amid a flurry of reports that has the Web portal working
with rivals Google Inc. and AOL in an attempt to put together a deal
that would thwart the software giant's unsolicited takeover offer.
Stocks open higher as investors chew on soft retail sales numbers, falling jobless claims and an expanding trade gap.
Stocks open higher as investors chew on soft retail sales numbers,
falling jobless claims and an expanding trade gap.
Wednesday, April 09, 2008
U.S. stocks fall on economic, earnings concerns
U.S. stocks fall on economic, earnings concerns
U.S. stocks close in the red, with a lower outlook from shipper UPS and
crude prices topping $112 a barrel fueling concerns about the economy
and earnings.
Futures Movers: Crude hits new intraday, closing highs as inventories
fall
Crude-oil futures rally more than $2 to end at a record closing price of
$110.87 a barrel as government data show a surprising drop in U.S.
inventories.
Protesters gather for San Francisco torch run
Throngs of protesters gather in San Francisco in anticipation of the
running of the Olympic torch, a flash point for controversy that's
sparked violent demonstrations in other cities.
American cancels over 1,000 flights for safety checks
American Airlines cancels more than 1,000 flights, mostly at its hubs in
Dallas and Chicago, as the airline conducts more inspections of its
fleet of MD-80 jets.
Under pressure, lawmakers craft aid plan for troubled homeowners
In an effort to let more struggling borrowers keep their homes and
prevent defaults on unaffordable home loans, the Bush administration is
expanding a federal program to allow more homeowners to refinance
mortgages.
Markets Wednesday, 04/9/2008
| Dow : 12527.26 down 49.18
| S & P : 1354.49 down 11.05
| NASDAQ: 2322.12 down 26.64
| Bond (10Y): 3.48%, 100.13
MARKETS:
Wall Street wary ahead of earnings
Major indexes fall as investors anticipate weak first-quarter corporate
results; oil prices reach yet another all-time high.
Yahoo says it will conduct 2-week test using Google's ad placement technology with its own search engine.
Yahoo says it will conduct 2-week test using Google's ad placement
technology with its own search engine.
Stocks end modestly lower as oil prices surge to new record and investors await earnings.
Stocks end modestly lower as oil prices surge to new record and
investors await earnings.
Oil hits intraday trading high of $111.88 a barrel following surpise decline in supply.
Oil hits intraday trading high of $111.88 a barrel following surpise
decline in supply.
WaMu spurned J.P. Morgan bid before striking TPG deal: report
WaMu spurned J.P. Morgan bid before striking TPG deal: report
Troubled thrift Washington Mutual Inc. snubbed an earlier takeover offer
from J.P. Morgan Chase & Co. prior to receiving a $7 billion bailout
from private equity firm TPG and a consortium of investors, The Wall
Street Journal reported.
Fed looks for new tools to weather credit crunch
NEW YORK
The Federal Reserve is exploring backup options to extend its lending
power in case the recent plans it has implemented to loosen the credit
markets are unsuccessful, The Wall Street Journal reported on
Wednesday.
Gold can reach $1,100 this year, consultant GFMS says
The price of gold can very well reach $1,100 an ounce this year or early
2009, the London-based consultancy group GFMS Ltd. said Wednesday in its
latest survey of the gold market.
Stocks inch up at the open despite Wall Street's concern over weak economic forecasts and troubling corporate news.
Stocks inch up at the open despite Wall Street's concern over weak
economic forecasts and troubling corporate news.
Tuesday, April 08, 2008
Markets Tuesday, 04/8/2008
| Dow : 12576.44 down 35.99
| S & P : 1365.54 down 7.00
| NASDAQ: 2348.76 down 16.07
| Bond (10Y): 3.56%, 99.47
MARKETS:
Down day on Wall Street
Stocks slip after the release of minutes from last Federal Reserve
policy meeting, AMD's profit warning and a weak pending home sales
index.
U.S. stock losses intensify on Fed worries about economy
U.S. stock losses intensify on Fed worries about economy
U.S. stocks decline after quarterly earnings disappoint investors and
struggling thrift Washington Mutual Inc. cuts its dividend and draws $7
billion in capital, adding to concerns about financials.
MarketWatch First Take: Investor pessimism the only sure thing
BOSTON
There must be a way for survey results to get lower than the level of
"pervasive gloom," but investors won't find out for at least another
month.
Economic Report: CORRECT: Index of pending home sales down 1.9% in
February: NAR
In a sign that the U.S. housing market may weaken further, an index of
sales contracts on previously owned homes fell 1.9% in February from the
prior month, the National Association of Realtors reported Tuesday.
MarketWatch First Take: Nostalgia can't save Starbucks
Of course, one new roast will not turn Starbucks around, but the move is
just one of many actions the struggling coffee-shop operator is
implementing to help reverse its sagging fortunes.
Apple cut to bearish rating on worries of slowing economy
Apple faces a rare occurrence -- a Wall Street analyst telling his
clients to sell shares of the popular consumer-electronics maker.
Stocks end lower after minutes from Fed policy meeting showed fear of a prolonged economic downturn.
Stocks end lower after minutes from Fed policy meeting showed fear of a
prolonged economic downturn.
Federal Reserve members warn of possible 'severe and protracted downturn,' minutes of last meeting show.
Federal Reserve members warn of possible 'severe and protracted
downturn,' minutes of last meeting show.
U.S. stocks remain under water following U.S. housing data
U.S. stocks remain under water following U.S. housing data
U.S. stocks open lower after Alcoa Inc.'s earnings fall short of
forecasts and Advanced Micro Devices Inc. projects revenue under what it
had anticipated and said it would cut its workforce 10%.
Economic Report: Index of pending U.S. home sales down 1.9% in February:
NAR
In a sign that the U.S. housing market may weaken further, an index of
sales contracts on previously owned homes fell 1.9% in February from the
prior month, the National Association of Realtors reported Tuesday.
AMD to cut 10% from work force, predicts slower growth
SAN FRANCISCO
Shares of Advanced Micro Devices Inc. fell more than 3% Tuesday morning
after the chipmaker said it plans to reduce its workforce and expected a
bigger decline than expected in first-quarter revenue.
Alcoa profit falls 50%, shares weigh on broad market
Alcoa kicks off the first earnings season of the year with
lower-than-expected profits in what will likely become a familiar
refrain of falling fortunes, a slowing economy, surging energy costs and
a weak U.S. dollar.
IMF to sell 12.5% of gold stake, worth more than $13 billion
The International Monetary Fund said it would sell more than 14.2
million ounces of gold, currently valued at more than $13 billion, and
cut substantial costs as part of an efficiency drive.
Homes under contract for sale fell to an all-time low in February, according to National Association of Realtors.
Homes under contract for sale fell to an all-time low in February,
according to National Association of Realtors.
Stocks slump at the open of trade as Wall Street reacts to ugly earnings from Alcoa and job cuts at AMD.
Stocks slump at the open of trade as Wall Street reacts to ugly earnings
from Alcoa and job cuts at AMD.
Monday, April 07, 2008
Markets Monday, 04/7/2008
| Dow : 12612.43 up 3.01
| S & P : 1372.54 up 2.14
| NASDAQ: 2364.83 down 6.15
| Bond (10Y): 3.53%, 99.66
MARKETS:
Stocks give up gains
Wall Street cuts gains by the close as optimism about WaMu, mergers,
gives way to concern about earnings.
U.S. stocks end little changed ahead of earnings kick-off
U.S. stocks end little changed ahead of earnings kick-off
U.S. stocks finish flat with financial shares leading the way on reports
of a $5 billion injection for Washington Mutual Inc., but with the broad
market losing steam as investors cash in profits in technology and
energy stocks.
Microsoft bid for Yahoo turns into game of chicken
SAN FRANCISCO
Microsoft Corp.'s bold bid to gobble up Yahoo Inc. seems to have
transformed from a waiting game into a game of chicken.
Washington Mutual rallies on report of $5 billion cash infusion
Shares of Washington Mutual Inc. leap nearly 23% on news the troubled
thrift is in negotiations to receive a $5 billion cash infusion from
private-equity firm TPG and a consortium of other investors.
China agrees to let banks buy U.S. stocks and mutual funds
Banking and securities regulators from China and the U.S. are laying the
groundwork to enable Chinese investors to buy and sell U.S. securities.
MarketWatch First Take: Motorola moves to shut Icahn up
SAN FRANCISCO
Carl Icahn may like to paint himself as just another shareholder, but
the billionaire activist investor seems to have gotten himself a bit of
a special deal most investors can only dream about.
Stocks seesaw and close little changed as investors digest financial sector news and await Alcoa results.
Stocks seesaw and close little changed as investors digest financial
sector news and await Alcoa results.
Reports say Chinese banks given permission to buy U.S. stocks, mutual funds
Reports say Chinese banks given permission to buy U.S. stocks, mutual
funds
4/7/2008 5:08:25 AM
Stocks rise in the first minutes of trade Monday as investors mull news of numerous percolating corporate deals.
Stocks rise in the first minutes of trade Monday as investors mull news
of numerous percolating corporate deals.
U.S. stocks rise as WaMu cash report spurs financials
U.S. stocks rise as WaMu cash report spurs financials
U.S. stocks open firmly higher on Monday, with a report of a $5 billion
injection into Washington Mutual fueling hopes that ailing financial
firms are on course to restoring their financial health.
Washington Mutual rallies on report of talks for cash infusion
NEW YORK
Beleaguered thrift Washington Mutual Inc. is in negotiations to receive
a $5 billion cash infusion from private-equity firm TPG and a consortium
of other investors, according to a Wall Street Journal report.
Motorola to add Icahn allies to board
WASHINGTON
Motorola Inc. said Monday it will add two allies of activist investor
Carl Icahn to its board, defusing a potential proxy fight that could
have distracted the wireless device maker's management at a critical
time.
Yahoo fires back at Microsoft after threat of proxy battle
Yahoo Inc. responds to Microsoft's dig about its falling stock price
with its own critique, arguing that the software giant's share price
fall makes its takeover bid even less attractive than when the search
firm initially rejected it.
China agrees to let banks buy U.S. stocks and mutual funds
Banking and securities regulators from China and the U.S. are laying the
groundwork to enable Chinese investors to buy and sell U.S. securities.
