Friday, May 09, 2008
Markets Friday, 05/9/2008
| Dow : 12745.88 down 120.90
| S & P : 1388.28 down 9.40
| NASDAQ: 2445.52 down 5.72
| Bond (10Y): 3.77%, 101.09
MARKETS:
Stocks slide on oil and AIG
Wall Street retreats after crude and gas prices hit new record highs,
and the insurer disappoints.
U.S. stocks decline on credit turmoil; weekly losses of 1% plus
U.S. stocks decline on credit turmoil; weekly losses of 1% plus
U.S. stocks tumble, with the major indexes headed towards weekly losses,
as the financial sector spouts more leaks after American International
Group Inc. reports a $7.8 billion loss and Citigroup Inc. unveils plans
to shed about half a trillion dollars in assets.
AIG's shares fall 8% on record loss, $12.5 billion capital plan
American International Group reports a $7.81 billion first-quarter net
loss as the giant insurer gets hit hard by the credit crunch. AIG's
blue-chip shares feel heavy selling pressure.
Crude futures close near $126, up over 8% for the week
Crude-oil futures close at an all-time high near $126 a barrel, with
strong demand for diesel fuel and concerns about global crude supplies
prompting a weekly gain of over 8%.
Could shareholders boot out Yahoo's board?
As Yahoo gets ready to face the wrath of shareholders, the company may
learn from the plight of another tech firm, whose board directors
rejected a sweetened takeover offer and are now on the verge of being
booted out.
Citi to slash a fifth of balance sheet in coming years
Citigroup unveils plans to reduce its asset base by about $500 billion
over the next several years, in a bid to shore up its capital base and
rid itself of riskier investments.
Stocks stumble, with the Dow shedding about 120 points, after AIG reported weak results and oil surged to a new record.
Stocks stumble, with the Dow shedding about 120 points, after AIG
reported weak results and oil surged to a new record.
U.S. stocks slammed by big AIG loss
U.S. stocks slammed by big AIG loss
U.S. stocks tumble as the financial sector spouts more leaks after
American International Group Inc. reports a $7.8 billion loss and
Citigroup Inc. unveils plans to shed about half a trillion dollars in
assets.
Commodities Corner: Consumers feed run on rice
It was quite the scene at Costco when the wholesaler placed signs above
a brand new shipment of rice: "limit two bags." Fears may prompt
hoarding, but analysts say the cyclone that hit Myanmar may cause a real
shortage.
Diageo to spend $1 billion in Irish brewery revamp
Diageo plans to spend about $1 billion to revitalize a famed Dublin
brewery that makes Guinness and to build a second facility.
Citigroup aims to eliminate $500 billion in non-core assets
Citigroup unveils plans to reduce its asset base by about $500 billion
over the next several years in a bid to shore up its capital base and
rid itself of riskier investments.
Futures Movers: Oil futures touch an all-time high above $126 a barrel
Crude-oil futures blitz past $126 a barrel, poised to score a weekly
gain of more than 7% with strong demand for diesel fuel and concerns
about global crude supplies sending prices to a fresh all-time high.
U.S. trade deficit narrows more than expected, to $58.2 billion for March
U.S. trade deficit narrows more than expected, to $58.2 billion for
March
5/9/2008 8:31:23 AM
CEO Pandit says Citigroup plans to eliminate about $500 billion in assets
CEO Pandit says Citigroup plans to eliminate about $500 billion in
assets
5/9/2008 8:49:54 AM
Crude surges more than $2 to climb above $126 a barrel, extending oil's record breaking rise.
Crude surges more than $2 to climb above $126 a barrel, extending oil's
record breaking rise.
Stocks fall at the open as AIG's loss, inflation concerns and steadily climbing oil prices weigh on Wall Street.
Stocks fall at the open as AIG's loss, inflation concerns and steadily
climbing oil prices weigh on Wall Street.
Thursday, May 08, 2008
Markets
| Dow : 12866.78 up 52.43
| S & P : 1397.68 up 5.11
|
| NASDAQ: 2451.24 up 12.75
| Bond (10Y): 3.78%, 100.38
MARKETS:
Stocks rise despite oil spike
Wall Street ends higher as investors eye some better-than-expected April
retail sales and take in stride rising oil prices.
U.S. stocks close with modest gains on discount retail sales
U.S. stocks close with modest gains on discount retail sales
Stocks remain higher, but shave earlier gains amid lingering worries
over the high price of gasoline and the shaky economy, with April retail
sales showing consumers still spending, but far more frugally.
Easter shift, discounts lift April sales; weak outlook still seen
Consumers seeking value and buying groceries and other necessities
bolstered April sales at discounters, and a tighter hold on wallets led
to cautious spending in discretionary items, yielding mixed results for
apparel retailers.
Jennifer Openshaw: The 15-minute tip: Focus on 'walkability' for health,
finances
Walked anywhere lately? And I don't mean just between the kitchen and
living room, but to get somewhere? Somewhere you might usually go by
car?
Therese Poletti's Tech Tales: Microsoft should nuke Vista instead of
Windows XP
There is not a chance that it'll ever happen, writes Therese Poletti,
but the software giant should euthanize Vista and write it off as a huge
mistake.
House passes $300 billion housing rescue plan that will allow the government to back loans for struggling homeowners.
House passes $300 billion housing rescue plan that will allow the
government to back loans for struggling homeowners.
AIG reports $7.8 billion loss, plans to raise $12.5 billion in capital
AIG reports $7.8 billion loss, plans to raise $12.5 billion in capital
5/8/2008 4:19:11 PM
Wal-Mart, other retailers help U.S. stocks rebound
Wal-Mart, other retailers help U.S. stocks rebound
U.S. stocks rise modestly after the largest decline in a month as retail
sales figures for April showed consumers changing their habits but still
spending and the Labor Department reported a decline in those seeking
initial jobless benefits.
Easter shift, discounts lift April sales; weak outlook still seen
Consumers seeking value and buying groceries and other necessities
bolstered April sales at discounters, and a tighter hold on wallets led
to cautious spending in discretionary items, yielding mixed results for
apparel retailers.
Economic Report: Weekly initial jobless claims fall 18,000 to 365,000
U.S. unemployment lines got shorter last week, as the number of people
filing for the first time for unemployment benefits falls to 365,000,
down 18,000.
Best Buy, Carphone Warehouse ink $2.1 bln Europe venture
U.K. mobile phone retailer and telecoms company Carphone Warehouse said
Thursday its agreed to sell half its retail business to consumer
electronics giant Best Buy for $2.1 billion.
Toyota posts lower profit, forecasts annual decline; shares skid
Toyota Motor shares trade lower as the automaker posts a
bigger-than-expected 28% decline in net income for the January to March
quarter from a year earlier, owing to a stronger yen and weaker U.S.
auto sales.
Fw: Stocks rise at the open as Wall Street dissects April retail sales figures, a stronger dollar and record oil prices.
Stocks rise at the open as Wall Street dissects April retail sales
figures, a stronger dollar and record oil prices.
Wednesday, May 07, 2008
Markets Wednesday, 05/7/2008
| Dow : 12814.35 down 206.48
| S & P : 1392.57 down 25.69
|
| NASDAQ: 2438.49 down 44.82
| Bond (10Y): 3.84%, 96.63
MARKETS:
Oil spikes, stocks tank
Crude prices top $123 a barrel, dragging on equity prices as investors
step back after a strong April and start to May.
U.S. stocks end broadly lower as crude oil closes at new high
U.S. stocks end broadly lower as crude oil closes at new high
Stock finish broadly lower as crude-oil prices above $123 a barrel
alarmed investors already worried about the impact on consumers as well
as the overall economy.
Futures Movers: Oil ends atop $123, up almost 10% in four sessions
Crude-oil futures climb above $123 a barrel to close at their loftiest
level ever as continuing global production concerns and a decline in
U.S. refinery capacity help outweigh pressure from a third week of
rising U.S. crude supplies.
In WiMax group, Google taps another untested path to wireless
Google Inc.'s backing of Sprint Nextel's WiMax project taps yet another
route to ensure itself a prominent place in the mobile-Internet
marketplace.
Special Report: Fed rate cuts helped boost food prices, spark shortages
The Federal Reserve's seven interest rate cuts in as many months, which
helped protect the U.S. economy from the full effects of the housing
crisis and the resulting credit crunch, also contributed to the spike in
raw material costs that has been felt across the globe, experts say.
Stocks tumble, the Dow sheds 213 points, after oil hit a fresh record and a bleak housing report sent investors to the sidelines.
Stocks tumble, the Dow sheds 213 points, after oil hit a fresh record
and a bleak housing report sent investors to the sidelines.
Oil prices settle at record $123.53 after a government report said crude and gas supplies were stronger than expected.
Oil prices settle at record $123.53 after a government report said crude
and gas supplies were stronger than expected.
Consumer borrowing rose $15.3 billion in March, far exceeding forecasts.
Consumer borrowing rose $15.3 billion in March, far exceeding forecasts.
U.S. stocks trim losses as oil-futures slide after inventory data
U.S. stocks trim losses as oil-futures slide after inventory data
U.S. stocks on Wednesday remain mostly lower as pending home sales fell
in March and as oil prices remained near record territory, offsetting
cheer over better-than-hoped-for results from Walt Disney Co. and Cisco
Systems Inc.
Walt Disney Co.'s shares rise after profit exceeds estimates
Walt Disney Co.'s shares get a boost as the blue-chip entertainment
giant posts better-than-expected 21% growth in second-quarter profit,
driven by its theme parks and studio operations.
Déjà vu: Sprint Nextel, Clearwire revive WiMax venture
Sprint Nextel and Clearwire agree to merge their next-generation
wireless broadband businesses, reviving the plan with some deep-pocketed
partners.
Special Report: Fed rate cuts helped boost food prices, spark shortages
The Federal Reserve's seven interest rate cuts in as many months, which
helped protect the U.S. economy from the full effects of the housing
crisis and the resulting credit crunch, also contributed to the spike in
raw material costs that has been felt across the globe, experts say.
Clinton ekes out Indiana win as Obama takes N.C.
Barack Obama wins a surprisingly easy victory in North Carolina's
Democratic primary, but falls behind Sen. Hillary Clinton in Indiana.
Stocks fall at the open as investors weigh a weak outlook from Cisco, good Disney earnings and higher productivity.
Stocks fall at the open as investors weigh a weak outlook from Cisco,
good Disney earnings and higher productivity.
Pending home sales hit record low for second month in a row, Realtors' group says.
Pending home sales hit record low for second month in a row, Realtors'
group says.
A key gauge of productivity rose 2.2% in the first quarter, better than expectations.
A key gauge of productivity rose 2.2% in the first quarter, better than
expectations.
Tuesday, May 06, 2008
Cisco reports higher revenue despite economy worries
Cisco reports higher revenue despite economy worries
May 06, 2008 04:21 PM ET
NEW YORK (Reuters) - Cisco Systems Inc on Tuesday reported a rise in
quarterly revenue as growth in Internet traffic supported
sales of network equipment despite concerns of a slowing U.S. economy.
Nasdaq rises 1 percent in late trading
May 06, 2008 03:20 PM ET
NEW YORK (Reuters) - The Nasdaq briefly rose 1 percent in late trading
on Tuesday, with technology shares gaining on speculation
that Microsoft Corp and Yahoo Inc will resume takeover talks.
Disney results beat Wall Street, shares rise 3 pct
May 06, 2008 04:37 PM ET
LOS ANGELES (Reuters) - Walt Disney Co on Tuesday posted a
better-than-expected
22 percent rise in quarterly earnings on double-digit growth at its
movie studio, theme parks and media networks, sending its shares up 3
percent.
Cisco net income slips due to acquisition charge; sales rise 10%
Cisco net income slips due to acquisition charge; sales rise 10%
5/6/2008 4:10:23 PM
Markets
| Dow : 13020.83 up 51.29
| S & P : 1418.26 up 10.77
| NASDAQ: 2483.31 up 19.19
| Bond (10Y): 3.92%, 96.59
MARKETS:
Wall Street pulls off a rally
Stocks jump despite record crude oil prices and big quarterly loses in
the financial sector.
U.S. stocks end higher as Fannie Mae reassures investors
U.S. stocks end higher as Fannie Mae reassures investors
U.S. stocks on Tuesday shake off early declines, with investors
heartened by Fannie Mae's calming words to investors about its financial
situation and by perceptions that Microsoft Corp and Yahoo Inc. might
continue merger discussions after all.
MarketWatch First Take: Goldman Sachs goads the raging oil bulls
Goldman Sachs has warned us: The wolf is once again lurking at the door,
this time in the guise of $200 oil.
Disney earnings surpass $1 billion, beat estimates
Walt Disney Co.'s parks managed to overcome a sluggish economy and its
studio operations flourished, enabling the company to report that
second-quarter earnings climbed more than 21% and beat analyst
expectations.
Cisco reports 5% drop in profit, but revenue rises
Cisco Systems Inc. reports a 5% drop in third-quarter profit, but posts
a 10% jump in revenue.
Special Report: Commodity squeeze: Consumers and food makers feel the
pain
While consumers feel the pain at grocery-store cash registers, so do the
food makers whose products line the store shelves.
U.S. stocks drop as crude topples previous highs
U.S. stocks drop as crude topples previous highs
U.S. stocks fall sharply, extending losses into a second day, as oil
climbes above $122 a barrel and earnings from Fannie Mae, UBS and D.R.
Horton point to further trouble in financial and housing markets.
Futures Movers: Crude futures tap an all-time high of $122 as dollar
weakens
NEW YORK
Crude-oil futures trade near a record high of $120.93 a barrel hit
earlier in the session, as weakness in the U.S. dollar boosts energy
prices.
UBS to cut 5,500 jobs, sell $15 bln portfolio to BlackRock
Troubled Swiss banking group UBS said Tuesday that it plans to cut 5,500
jobs and sell a $15 billion chunk of its risky mortgage assets to
BlackRock Inc. as it reported a first-quarter loss broadly in line with
an earlier warning.
Credit expenses take toll on Fannie Mae earnings
Mortgage-finance giant Fannie Mae reports a much greater-than-expected
first-quarter loss of $2.2 billion, as credit-related expenses took a
bite out of its bottom line.
Crude oil surges to a record price, over $121 a barrel, in early NYMEX trade.
Crude oil surges to a record price, over $121 a barrel, in early NYMEX
trade.
Fannie Mae reports a larger than expected loss, plans to cut dividend and raise additional capital, Dow Jones reports.
Fannie Mae reports a larger than expected loss, plans to cut dividend
and raise additional capital, Dow Jones reports.
Stocks fall at the open as investors mull a much larger than expected loss at mortgage giant Fannie Mae.
Stocks fall at the open as investors mull a much larger than expected
loss at mortgage giant Fannie Mae.
Monday, May 05, 2008
Markets Monday, 05/5/2008
| Dow : 12969.54 down 88.66
| S & P : 1407.49 down 6.41
| NASDAQ: 2464.12 down 12.87
| Bond (10Y): 3.86%, 97.00
MARKETS:
Down day on Wall Street
Stocks slip after crude hits new record, Microsoft abandons Yahoo bid
and questions are raised about BofA's purchase of Countrywide.
U.S. stocks end lower as oil tops $120, Microsoft dumps Yahoo bid
U.S. stocks end lower as oil tops $120, Microsoft dumps Yahoo bid
U.S. stocks broadly lower, pressured by news of Microsoft Corp. dropping
its $50 billion offer for Yahoo Inc. and after an analyst said Bank of
America Corp. should abandon its takeover of Countrywide Financial
Corp.
Yahoo's shares plunge 16% after Microsoft pulls bid
Shares of Yahoo Inc. are tumbling more than 16% after Microsoft Corp.
pulled its takeover bid.
Economic Report: Banks squeezing credit to consumers, businesses
Consumers and businesses found it harder to borrow money over the past
three months, the Federal Reserve reports Monday, a sign that the
historic credit crunch now hitting the economy is still worsening.
Futures Movers: Oil futures near $120 to end at a fresh record on
Nigeria, dollar
Crude futures climb to uncharted territory in New York as concerns about
supply disruptions in Nigeria and weakness in the U.S. dollar help lift
prices to a near $120 a barrel.
Sprint may field offers, mull Nextel spinoff
Sprint Nextel is reportedly on the radar of German phone giant Deutsche
Telekom as a possible acquisition, a deal that could be made easier if
Sprint gets rid of the Nextel portion of its business.
Dow industrials close down 88 points as oil spikes, Yahoo deal falls apart
Dow industrials close down 88 points as oil spikes, Yahoo deal falls
apart
5/5/2008 4:07:44 PM
tocks close lower as oil tops $120 for first time and Microsoft walks away from Yahoo bid.
Stocks close lower as oil tops $120 for first time and Microsoft walks
away from Yahoo bid.
Oil settles at a new record of $119.97 a barrel on the New York Mercantile Exchange, up $3.65 since Friday.
Oil settles at a new record of $119.97 a barrel on the New York
Mercantile Exchange, up $3.65 since Friday.
Business activity surges in April for service-based companies - signaling expansion in the sector.
Business activity surges in April for service-based companies -
signaling expansion in the sector.
Crude oil prices surged over $120 a barrel for the 1st time ever in morning trade at the NYMEX.
Crude oil prices surged over $120 a barrel for the 1st time ever in
morning trade at the NYMEX.
Stocks fall as investors dissect Microsoft's decision to walk away from Yahoo bid. Microsoft rises, Yahoo plummets, Google goes up.
Stocks fall as investors dissect Microsoft's decision to walk away from
Yahoo bid. Microsoft rises, Yahoo plummets, Google goes up.
Yahoo shares plummet 19% in the first moments of trade.
Yahoo shares plummet 19% in the first moments of trade.
Sunday, May 04, 2008
Breaking news: Microsoft drops Yahoo bid
Microsoft says it's dropping its 3-month-old bid to buy Yahoo because
the two sides couldn't agree on a price.
