Saturday, January 17, 2009
Energy: Russian gas giant: Ukraine stil blocking heat for Europe
Russian state-controlled gas giant Gazprom on Saturday said Ukraine
had rejected its latest request to resume the supply of natural gas to
Europe, the latest chapter of a bitter dispute that has left homes
without heat amid freezing temperatures.
Friday, January 16, 2009
Energy: ConocoPhillips cuts jobs, spending in face of falling oil prices
ConocoPhillips says it will cut 4%, or about 1,300 employees, from its
payroll and slash capital spending this year to cope with falling oil
prices and lower refining margins as a severe economic downturn saps
global energy demand.
Tech: Intel gains help lift tech sector at market close
Tech Stocks: Intel gains help lift tech sector at market close
1/16/2009 4:21 PM ET
Tech stocks turn in a largely upbeat performance as Intel Corp. and
IBM Corp. help the sector break free from earlier losses and end the
day with broad gains.
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Time Warner holders OK reverse stock split
1/16/2009 4:43 PM ET
Time Warner shareholders voted Friday to authorize a reverse stock
split of either 1-to-2 or 1-to-3 once the separation of Time Warner
Cable has been completed.
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AMD to cut 1,100 jobs, slash executive and staff salaries
1/16/2009 4:24 PM ET
The chip maker plans to cut its workforce by 9%, or roughly 1,100
positions, in the first quarter as it struggles to lower costs in an
economic downturn.
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Intel shares rise as analysts anticipate turnaround
1/16/2009 4:17 PM ET
Intel Corp. shares rise despite the chip maker reporting a huge drop
in quarterly profit as analysts anticipate the market bottom for a
tech giant wit a history of surviving downturns.
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Europe objects to Microsoft's browser bundling
1/16/2009 3:40 PM ET
European antitrust regulators have told Microsoft that the company's
practice of including its Internet browser with its popular Windows
operating system violates European competition law.
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Earnings Outlook: EBay expected to see earnings decline in fourth quarter
1/16/2009 2:52 PM ET
The online auctioneer, which is trying to restructure its business in
the middle of an economic recession, faces a relatively dim outlook
for its fourth-quarter earnings report next week.
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Earnings Outlook: After weeks of gloomy rumors, Microsoft to address Wall Street
1/16/2009 2:36 PM ET
Following weeks of speculation that Microsoft Corp. may take the
unusual step of cutting jobs to grapple with the down economy, the
company is expected to post fiscal second-quarter financial results
after market's close on Thursday.
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Earnings Outlook: Google expected to see profit gain despite economy
1/16/2009 1:49 PM ET
Google Inc. will follow news of its first-ever round of layoffs with a
fiscal fourth-quarter earnings report on Thursday, as a number of
analysts have recently reduced their expectations for the company's
performance in the period.
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Telecom Stocks: Telecoms fade after early advances
1/16/2009 1:46 PM ET
Early gains fizzled and most telecommunications
stocks were flat to lower in Friday action, just days ahead of the
inauguration of President-elect Barack Obama.
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Circuit City to liquidate, adding to U.S. job losses
1/16/2009 1:43 PM ET
After failing to secure financing from creditors and lenders, bankrupt
electronics vendor Circuit City will liquidate, joining the list of
retailers like Linens 'n Things that are closing up shop due to the
economic downturn.
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Earnings Outlook: Steadiness, caution expected with IBM report
1/16/2009 11:31 AM ET
IBM Corp. is slated to report fourth-quarter earnings on Tuesday, and
analysts are largely expecting Big Blue to provide some welcome, if
only temporary, steadiness to a tech sector that has become rife with
disappointing quarterly results and weak outlooks.
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Before the Bell: Citigroup, Bank of America, Intel in the spotlight
1/16/2009 8:37 AM ET
Stock market futures pointed to a second day of gains Friday as the
U.S. government injected capital into Bank of America and guaranteed
assets at Citigroup after heavy losses for both firms.
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Sony Ericsson posts second straight quarterly loss
1/16/2009 6:10 AM ET
Sony Ericsson Mobile Communications reports its second-straight
quarterly loss as sales slump on weaker consumer demand and it takes
charges for job cuts.
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Samsung to restructure into 2 business units
1/15/2009 11:34 PM ET
South Korean electronics giant Samsung Electronics announced Friday an
operational and management shakeup that will see the world's largest
maker of memory chips and liquid crystal display panels restructure
into two operating
divisions, according to a published report.
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Video game sales beat estimates for December
1/15/2009 9:15 PM ET
Despite the slumping national economy, sales of video games still
managed to beat Wall Street's expectations for the month of December,
thanks mostly to
strong demand for Nintendo devices.
Markets Friday, 01/16/2009
| Dow : 8281.22 up 68.73 | S & P : 850.12 up 6.38 |
|
| NASDAQ: 1529.33 up 17.49 | Bond (10Y): 2.33%, 112.28 -
MARKETS:
Stocks stage comeback
Wall Street gains at the end of a choppy session.
Bank of America's dividend cut one of many facing investors
Bank of America's dividend cut one of many facing investors
The financial companies behind much of the trauma clobbering the
broader markethave S&P 500 investors in 2009 facing the worst picture
for dividends in at least half a century.
2008 FOOD INFLATION HIGHEST SINCE 1980, WITH MORE HIKES ON WAY
Grocery-store food prices jumped 6.6% in 2008, the largest annual
spike since 1980, the Labor Department said Friday.
CIRCUIT CITY TO LIQUIDATE, ADDING TO U.S. JOB LOSSES
After failing to secure financing from creditors and lenders, bankrupt
electronics vendor Circuit City will liquidate, joining the list of
retailer like Linens 'n Things that are closing up shop due to the
economic downturn.
CITI TO OPERATE TWO UNITS, SPLIT BANK FROM TOXIC ASSETS
Citigroup is realigning into two businesses, in effect reverting back
to its operations before Sandy Weill and his team turned the company
into a "financial supermarket" over the last decade.
TREASURY PUTS OUT BAILOUT CEO PAY PACKAGE RULES
Treasury puts out bailout CEO pay package rules.
Stocks stage a late-day rally, with the Dow closing up 60 after BofA got another bailout and Citi unveiled plans to split.
Stocks stage a late-day rally, with the Dow closing up 60 after BofA
got another bailout and Citi unveiled plans to split.
Dow industrials up 90 points near Friday's close
Dow industrials up 90 points near Friday's close
1/16/2009 3:52:15 PM EDT
Energy: Street dims solar outlook as Obama era nears
Wall Street has tempered its outlook on the solar panel business, even
as the alternative energy sector looks toward a boost from the
incoming Obama administration.
Circuit City, which has 30,000 workers at 567 stores, seeks court OK to liquidate after failing to reach deal with creditors.
Circuit City, which has 30,000 workers at 567 stores, seeks court OK
to liquidate after failing to reach deal with creditors.
NTSB agents arrive to investigate ditched US Airways flight
NTSB agents arrive to investigate ditched US Airways flight
As the pilot of a US Airways jet that splashed down in the Hudson
River wins accolades, National Transport Safety Board investigators
arrive to begin their inquiry into the crash Thursday afternoon.
CITI, B. OF. A. RESULTS HAMMERED BY CRISIS
Citigroup unveils plans to dismantle more of its financial-services
empire and Bank of America says it will get billions of dollars in new
government support.
CITI TO OPERATE TWO UNITS, SPLIT BANK FROM TOXIC ASSETS
Citigroup Inc said it will realign into two businesses, Citicorp and Citi
Holdings, in effect reverting back to running a banking business
similar to its operations before Sandy Weill and his team turned the
firm into a financial supermarket over the last decade.
ECONOMIC REPORT: CONSUMER PRICES SHOW SMALLEST GAIN IN 54 YEARS
In another sign of the depth of the global economic slowdown, U.S.
consumer prices rises just 0.1% in 2008, the smallest increase in 54
years.
INTEL SHARES RISE AS ANALYSTS ANTICIPATE TURNAROUND
Intel Corp. shares rise despite the chip maker reporting a huge drop
in quarterly profit as analysts anticipate the market bottom for a
tech giant with
a history of surviving downturns.
Citigroup reports quarterly loss of $8.3B - much worse than expected. Says it will split into 2 businesses - a bank and a brokerage.
Citigroup reports quarterly loss of $8.3B - much worse than expected.
Says it will split into 2 businesses - a bank and a brokerage.
Bank of America quarterly loss was $1.8B. In addition, Merrill lost $15.3B, and BoA announced a $20B bailout.
Bank of America says it lost $1.8B in quarter. In addition, Merrill
lost $15.3B, and BoA announced a $20B bailout.
Increase in consumer prices in 2008 is smallest in 54 years; CPI down in December
Increase in consumer prices in 2008 is smallest in 54 years; CPI down
in December
1/16/2009 8:32:04 AM EDT
U.S. industrial production falls 2% in December, 11.5% in fourth quarter
U.S. industrial production falls 2% in December, 11.5% in fourth quarter
1/16/2009 9:17:17 AM EDT
Consumer prices fell 0.7% in December - 3rd straight month of declines - on sharp drop in energy costs, government says.
Consumer prices fell 0.7% in December - 3rd straight month of declines
- on sharp drop in energy costs, government says.
Energy: Crude-oil futures score early gains; IEA sees weak demand
Crude-oil futures consolidate atop $35 a barrel, as the International
Energy Agency forecast that world oil demand will drop for two
consecutive years -- the first time it's done so in 26 years.
Stocks open higher as another government bailout of Bank of America offsets dismal quarterly results from BofA and Citigroup.
Stocks open higher as another government bailout of Bank of America
offsets dismal quarterly results from BofA and Citigroup.
Thursday, January 15, 2009
Markets Thursday, 01/15/2009
| Dow : 8212.49 up 12.35 | S & P : 843.74 up 1.12
|
|NASDAQ: 1511.84 up 22.20 | Bond (10Y): 2.20%, 113.53
MARKETS:
Bank-rescue hopes buoy stocks
Wall Street stages a snapback rally after major gauges touch two-month lows.
US Airways plane crashes into Hudson River in New York
US Airways plane crashes into Hudson River in New York
US Airways flight 1549 on its way to Charlotte, N.C., has crashed into
the Hudson River off New York City.
INTEL POSTS 90% DROP IN FOURTH-QUARTER NET PROFIT
Intel Corp. on Thursday reported a 90% drop in
fourth-quarter net profit as the chip giant navigated what Chief
Executive Paul Otellini said was an uncertain market environment.
MORTGAGES: BENCHMARK 30-YEAR MORTGAGE FALLS BELOW 5% FOR FIRST TIME
The benchmark 30-year mortgage fell below 5% for the first time ever
in Freddie Mac's weekly rate survey as economic weakness continued to
push interest rates lower, the mortgage agency said.
BANK OF AMERICA REPORTEDLY TO GET BILLIONS FROM WASHINGTON
Bank of America shares lose more than a quarter of their value
Thursday and trade at 17-year lows after a report that the government
is dipping into its $700 billion bailout war chest to help the firm
digest its acquisition of Merrill Lynch & Co
ECB TO PAUSE NEXT MONTH AFTER REDUCING RATES TO 2%
European Central Bank President Jean-Claude Trichet signaled that
policy makers will likely take a breather in February after cutting
the euro-zone's key lending rate another half-point on Thursday to
match an all-time low of 2%.
Senate rejects an attempt to block $350 billion in bailout funds, effectively releasing the money for incoming President Obama.
Senate rejects an attempt to block $350 billion in bailout funds,
effectively releasing the money for incoming President Obama.
Stocks stage a comeback with the Dow closing up slightly after falling 200 points on renewed fears about the shaky banking sector.
Stocks stage a comeback with the Dow closing up slightly after falling
200 points on renewed fears about the shaky banking sector.
Energy: Infrastructure fund manager taps Fluor, FPL Group, Siemens
The Stockpickers - Infrastructure fund manager taps Fluor, FPL Group, Siemens
The huge economic stimulus bill that Democrats have in the works is
designed to kick-start the economy and create thousands of jobs. But
the estimated $825 billion package should also be good news for
investors in infrastructure stocks.
Dow drops over 200 points, falling below 8,000 for the first time since its bear market trading low on Nov. 21.
Dow drops over 200 points, falling below 8,000 for the first time
since its bear market trading low on Nov. 21.
Energy: Managed decline of Russia's ruble continues
The Russian ruble falls to an 11year low against the U.S. dollar, as
the central bank devalues the currency for the fourth time in less
than a week, according to media reports.
Benchmark 30-year mortgage falls below 5% for first time
Benchmark 30-year mortgage falls below 5% for first time
The benchmark 30-year mortgage fell below 5% for the first time ever
in Freddie Mac's weekly rate survey as economic weakness continued to
push interest rates lower, the mortgage agency said.
J.P. MORGAN PROFIT FALLS MORE THAN 75%
J.P. Morgan Chase says fourth-quarter profit falls 77.6% amid
continuing write-downs and a deteriorating consumer environment.
BANK OF AMERICA REPORTEDLY TO GET BILLIONS FROM WASHINGTON
Bank of America shares lost more than a quarter of their value
Thursday and traded at 17-year lows after a report that the government
is dipping into its $700 billion bailout war chest to help the firm
digest its acquisition of Merrill Lynch & Co.
INVESTORS, ANALYSTS SOUND CAUTIOUS ON JOBS' HEALTH ISSUES
News that Apple's CEO is going on medical leave send the company's
shares down as much as 6% as analysts fret about succession planning
under the visionary tech leader.
ECB TO PAUSE NEXT MONTH AFTER REDUCING RATES TO 2%
European Central Bank President Jean-Claude Trichet signaled that
policy makers will likely take a breather in February after cutting
the euro-zone's key lending rate another half-point on Thursday to
match an all-time low of 2%.
Energy: Canadian stocks fall, led by energy, financials
Equities in Canada decline as energy prices remain under pressure and
financial companies fall in tandem with U.S. banks.
Benchmark 30-year mortgage rate falls below 5% for first time ever
Benchmark 30-year mortgage rate falls below 5% for first time ever
1/15/2009 10:41:28 AM EDT
House Democrats, citing worst financial crisis since Depression, propose $825 billion of spending and tax cuts to revive economy.
House Democrats, citing worst financial crisis since Depression,
propose $825 billion of spending and tax cuts to revive economy.
Energy: Energy stocks take familiar path into the red
1/15/2009 10:12:00 AM ET
Energy stocks took a familiar path lower as crude traded below $37 a
barrel and natural gas future slipped under the level of $5 per
thousand cubic feet for the first time in more than two years.
Dow industrials down more than 100 points; B. of A. is biggest decliner, falling 20%
Dow industrials down more than 100 points; B. of A. is biggest
decliner, falling 20%
1/15/2009 10:06:28 AM EDT
European Central Bank chops rates by a half-point to 2%
European Central Bank chops rates by a half-point to 2%
1/15/2009 7:46:24 AM EDT
First-time jobless claims up 54,000 last week; U.S. continuing claims at 4.5 million
First-time jobless claims up 54,000 last week; U.S. continuing claims
at 4.5 million
1/15/2009 8:32:04 AM EDT
Energy: Oil falls after data shows rise in jobless claims
Oil futures fall below $37 a barrel, as a rise in jobless claims and a
build in crude inventories weighed on investor sentiment.
Stocks open flat after JPMorgan Chase reports a surprise profit and investors digest grim economic data.
Stocks open flat after JPMorgan Chase reports a surprise profit and
investors digest grim economic data.
Wednesday, January 14, 2009
Markets Wednesday, 01/14/2009
| Dow : 8200.14 down 248.42 | S & P : 842.62 down 29.17 |
| NASDAQ: 1489.64 down 56.82 | Bond (10Y): 2.20%, 113.59
MARKETS:
Another bad day for the Dow
Blue-chip measure down for 6th straight day as investors lament weak
retail sales and dismal banking news.
Apple's Jobs to take medical leave of absence
Apple's Jobs to take medical leave of absence
Apple Inc. Chief Executive Steve Jobs says that because of his health
issues he will take a medical leave of absence from the company until
the end of June.
MARKET SNAPSHOT: ENERGY SHARES SEND U.S. STOCKS TO DECEMBER LOWS
Energy and financial shares pace a broad market slide after downbeat
December retail sales offer the latest confirmation of a deepening
recession.
CAPITOL REPORT: FAULT LINES EMERGE AT FED
Key fault lines are emerging at the Federal Reserve over the central
bank's journey into uncharted monetary policy.
AFTER BROKERAGE DEAL, CITI MAY REDUCE ITS SIZE BY ONE-THIRD
Following a blockbuster brokerage deal with Morgan Stanley,
Citigroup's set to unveil a sweeping plan to unload several businesses
and reduce its size by one-third -- moves that essentially sound a
death knell for its financial-services supermarket model, according to
a published
ECONOMIC REPORT: U.S. RETAIL SALES PLUNGE 2.7% IN DECEMBER
Weak demand and falling prices give rise to a worse-than-projected
2.7% drop in U.S. seasonally adjusted retail sales for December,
Commerce Department data show.
Dow hits a new low for the day, dropping 307 points, as a wave of fear hits investors.
Dow hits a new low for the day, dropping 307 points, as a wave of fear
hits investors.
OIl settles 50 cents lower at $37.28 a barrel - a 3 week low.
OIl settles 50 cents lower at $37.28 a barrel - a 3 week low.
Economy weakend across nearly all regions in past 6 weeks, Fed says. Commercial real estate deteriorated; total lending declined.
Economy weakend across nearly all regions in past 6 weeks, Fed says.
Commercial real estate deteriorated; total lending declined.
No signs of upturn through early January: Fed Beige Book
No signs of upturn through early January: Fed Beige Book
1/14/2009 2:01:35 PM EDT
Energy: E.U. urges Russia, Ukraine to resume gas supplies
The European Union urges Russia and Ukraine to immediately resume full
gas supplies to Europe, as the bitter dispute between the two leaves
about 20 countries without Russian gas for an eighth day amid freezing
temperatures.
Bank woes pull financials down; Citi shares under $5
Bank woes pull financials down; Citi shares under $5
banks and uncertainty over the future of Citigroup Inc. roiled the sector.
ECONOMIC REPORT: U.S. RETAIL SALES PLUNGE 2.7% IN DECEMBER
Weak demand and falling prices give rise to a worse-than-projected
2.7% drop in U.S. seasonally adjusted retail sales for December,
Commerce Department data show.
TIFFANY CUTS FORECAST, POSTS 21% DECLINE IN HOLIDAY SALES
Citing the familiar refrain of a deteriorating global economy and
cautious consumer spending, Tiffany & Co. posted a 21% decline in
holiday sales and again cut its full-year forecast range.
BOND REPORT: TREASURY YIELDS FALL TO LOWEST LEVEL OF 2009
Treasury prices rose, pushing yields to the lowest this year, after a
government report said retail sales dropped 2.7% in December, far more
than expected.
REFINANCE APPLICATIONS HIGHEST IN MBA'S SURVEY
The rush among homeowners to take advantage of lower interest rates
shows no sign of abating, judging from the latest survey data compiled
by the Mortgage Bankers Association.
Energy: Oil stocks pounded by bearish supply, retail data
More bad news on the economy, a 280-point early decline by the Dow
Jones Industrial Average and a further drop in crude-oil prices set up
another rough session for energy stocks.
Energy: Stocks fall as Nortel files for bankruptcy, commodity prices sink
Stocks in Canada fell sharply Wednesday, pressured by falling
commodity prices and news that Nortel Networks Corporation filed for
bankruptcy protection.
Selling accelerates on Wall Street with the Dow plunging more than 300 points as grim retail sales sap investor confidence.
Selling accelerates on Wall Street with the Dow plunging more than 300
points as grim retail sales sap investor confidence.
Deutsche Bank warns of fourth-quarter loss of over $6 billion
Deutsche Bank warns of fourth-quarter loss of over $6 billion
1/14/2009 5:13:36 AM EDT
Oil prices tumble after government reports larger-than-expected jump in gasoline stockpiles, offsetting lower crude inventories.
Oil prices tumble after government reports larger-than-expected jump
in gasoline stockpiles, offsetting lower crude inventories.
Energy: Oil futures fall ahead of petroleum supplies data
Oil futures fell ahead of the latest data on petroleum inventories and
as dismal retail sales data highlighted the weakness of the U.S.
economy.
Dow plummets more than 200 points as selling accelerates following dismal retail sales reports.
Dow plummets more than 200 points as selling accelerates following
dismal retail sales reports.
Holiday sales tumbled 2.8% - worse than expected - according to retail trade group.
Holiday sales tumbled 2.8% - worse than expected - according to retail
trade group.
Dow industrials fall 160 points; Citi is worst performer, off 15%
Dow industrials fall 160 points; Citi is worst performer, off 15%
1/14/2009 9:44:53 AM EDT
Tuesday, January 13, 2009
Tech: Sector ekes out small gain in volatile trading session
Tech Stocks: Sector ekes out small gain in volatile trading session
1/13/2009 4:18 PM ET
Most technology stocks eke out a small gain after a volatile trading session.
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Yahoo taps tech veteran Bartz as new CEO; Decker to resign
1/13/2009 5:29 PM ET
Yahoo names respected Silicon Valley veteran Carol Bartz to replace
co-founder Jerry Yang as its new chief executive, as the embattled
Internet company struggles to mount a turnaround in a deteriorating
economy.
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Ex-Yahoo executive Rosensweig joins Adobe board
1/13/2009 5:14 PM ET
Dan Rosensweig, a former Yahoo Inc. executive who left the troubled
Internet company as it began an unstable period of management turnover
and a declining stock price, will join the board of directors at Adobe
Systems Inc.
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Nvidia lowers sales outlook on chip-industry woes
1/13/2009 4:20 PM ET
Nvidia Corp. lowers its fourth-quarter sales outlook, projecting a
much bigger drop in revenue as the graphics chip maker reels from an
industry-wide demand slump.
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Lexmark International stock drops on lowered earnings view
1/13/2009 4:02 PM ET
The maker of printing and imaging equipment lowers its quarterly
earnings forecast and moves to trim nearly 400 jobs due to the effects
of a deteriorating global economy.
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Obama's tech adviser Genachowski in line to run FCC
1/13/2009 1:52 PM ET
President-elect Barack Obama has reportedly picked Julius Genachowski,
a longtime friend and top adviser, to lead the Federal Communications
Commission.
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Israel Stocks: Market lower; Israel Chemicals in focus; Barclays initiates 7
1/13/2009 9:37 AM ET
Israeli stocks fall for a second day on Tuesday, with weakness in
Israel Chemicals and selected technology issues leading the way.
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Sony's ails point to deeper Japan malaise
1/13/2009 3:35 AM ET
Japanese consumer electronics companies face mounting headwinds this
year, with analysts forecasting few chances of an earnings turnaround
anytime soon as debt-laden consumers in their chief export markets
tighten spending as the recession deepens.
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Satyam ex-CFO blames Raju, auditors for scandal
1/13/2009 1:20 AM ET
The chief financial officer of India's Satyam Computer Services has
blamed the former chairman, B. Ramalinga Raju, and internal and
external auditors fof
financial fraud at the company, according to a media report.
Markets Tuesday, 01/13/2009
| Dow : 8448.56 down 25.41 | S & P : 871.79 up 1.53
|
| NASDAQ: 1546.46 up 7.67 | Bond (10Y): 2.29%, 112.75
MARKETS:
Stocks seesaw on earnings woes
Wall Street struggles after previous day's selloff as investors
consider corporate reports, Bernanke speech.
Yahoo said to be tapping tech veteran Bartz as new CEO
Yahoo said to be tapping tech veteran Bartz as new CEO
Yahoo is expected to name respected Silicon Valley veteran Carol Bartz
to replace co-founder Jerry Yang as its new chief executive, according
to a
THE RATINGS GAME: MONEY MANAGERS BRACE FOR WHAT PROMISE TO BE BRUTAL RESULTS
With their fourth-quarter financial results, asset-management firms
will likely turn a spotlight on some of the worst-ever numbers
reported by the sector, as. borne out by falling asset values,
investor redemptions and declining margins, according to analysts.
THE FED: BERNANKE SAYS NO RECOVERY WITHOUT MORE BANK AID
There will be no lasting recovery without further government action
and funds to strengthen the financial system, with the timing of an
economic recovery
"highly uncertain," Federal Reserve chief Ben Bernanke tells a
London audience.
ECONOMIC REPORT: TRADE DEFICIT PLUNGES ON FALLING DEMAND, PRICES
The U.S. trade balance with the rest of the world amounts to $40.4
billion in November, plunging 29% on a record decline in oil prices
and much weaker demand for imports, Commerce Department data show.
Yahoo said to be tapping tech veteran Bartz as new CEO
Yahoo said to be tapping tech veteran Bartz as new CEO
Yahoo is expected to name respected Silicon Valley veteran Carol Bartz
to replace co-founder Jerry Yang as its new chief executive, according
to a
THE RATINGS GAME: MONEY MANAGERS BRACE FOR WHAT PROMISE TO BE BRUTAL RESULTS
With their fourth-quarter financial results, asset-management firms
will likely turn a spotlight on some of the worst-ever numbers
reported by the sector, as. borne out by falling asset values,
investor redemptions and declining margins, according to analysts.
THE FED: BERNANKE SAYS NO RECOVERY WITHOUT MORE BANK AID
There will be no lasting recovery without further government action
and funds to strengthen the financial system, with the timing of an
economic recovery
"highly uncertain," Federal Reserve chief Ben Bernanke tells a
London audience.
ECONOMIC REPORT: TRADE DEFICIT PLUNGES ON FALLING DEMAND, PRICES
The U.S. trade balance with the rest of the world amounts to $40.4
billion in November, plunging 29% on a record decline in oil prices
and much weaker demand for imports, Commerce Department data show.
Dow closes down 33 points, struggling after Monday's selloff, as investors consider earnings reports, Bernanke speech.
Dow closes down 33 points, struggling after Monday's selloff, as
investors consider earnings reports, Bernanke speech.
Citigroup to unveil major restructuring plan: Wall Street Journal
Citigroup to unveil major restructuring plan: Wall Street Journal
3:01:17 PM EDT
Federal budget deficit in first fiscal quarter is $485.2 billion, government says - more than all of last year.
Federal budget deficit in first fiscal quarter is $485.2 billion,
government says - more than all of last year.
Oil settled down 19 cents to $37.78 a barrel, after Saudi Arabia's oil minister said that the kingdom plans to cut output.
Oil settled down 19 cents to $37.78 a barrel, after Saudi Arabia's oil
minister said that the kingdom plans to cut output.
Yahoo to name former Autodesk boss Carol Bartz as CEO: Wall Street Journal
Yahoo to name former Autodesk boss Carol Bartz as CEO: Wall Street Journal
1/13/2009 12:54:38 PM EDT
Bernanke says no recovery without more bank aid
Bernanke says no recovery without more bank aid
There will be no lasting recovery without further government action
and funds to strengthen the financial system, with the timing of an
economic recovery. "highly uncertain," Federal Reserve chief Ben
Bernanke tells a London audience.
ECONOMIC REPORT: TRADE DEFICIT PLUNGES ON FALLING DEMAND, PRICES
The U.S. trade balance with the rest of the world amounts to $40.4
billion in November, plunging 29% on a record decline in oil prices
and much weaker demand for imports, Commerce Department data show.
SONY SEEN REPORTING FIRST OPERATING LOSS IN 14 YEARS
Japanese electronics major Sony Corp. is expected to report its first
operating loss in 14 years as demand for flat-screen televisions and
other consumer products sags and profit margins are pared by a strong
yen, according to a media report Tuesday.
FACING MORE LOSSES, ALCOA'S COST CUTS MAY DEEPEN
Alcoa's wider-than-expected loss could be the start of a series of
quarters in the red for the aluminum giant as it faces the prospect of
cutting costs further to conserve cash, analysts say. At risk is the
blue chip's dividend.
ELAN RALLIES AS IRISH DRUGMAKER PLANS REVIEW
Shares of Elan rally as much as 17% in Dublin as the Irish drugmaker
puts itself on the block following the troubles surrounding key
multiple sclerosis and Alzheimer's drugs.
Timing of U.S. economic recovery remains 'highly uncertain,' Fed's Bernanke says
Timing of U.S. economic recovery remains 'highly uncertain,' Fed's Bernanke says
1/13/2009 8:03:10 AM EDT
Energy: Canadian stocks rise, led by mining, energy firms
1/13/2009 11:06:00 AM ET
Canadian stocks rise, as higher commodity prices propel mining and
energy shares upwards, while Bank of Montreal says it will buy
American International Group Inc.'s Canadian life insurance business.
Energy: Gazprom says Ukraine is blocking gas supplies to Europe
Russia's gas giant Gazprom says Tuesday that Ukraine is blocking
Russian gas supplies to the rest of Europe by keeping a transit
pipeline closed, throwing into doubt a deal to resolve the energy
dispute that has cut off gas to Europe at a time of freezing winter
temperatures.
Energy: Energy stocks perk up despite lower crude prices
Hard-hit petroleum stocks stage a mild recovery in early action on
Tuesday, as a favorable court ruling for Anadarko Petroleum and a
production boost from Marathon Oil encourage buying.
Trade deficit fell to $40.4B in November, the government says. Imports plummeted 12%, driven down by huge drop in oil prices.
Trade deficit fell to $40.4B in November, the government says. Imports
plummeted 12%, driven down by huge drop in oil prices.
Stocks open lower as investors remain jittery following comments by Bernanke suggesting further bailouts may be needed.
Stocks open lower as investors remain jittery following comments by
Bernanke suggesting further bailouts may be needed.
Monday, January 12, 2009
Markets Monday, 01/12/2009
| Dow : 8473.97 down 125.21 | S & P : 870.26 down 20.09 |
| NASDAQ: 1538.79 down 32.80 | Bond (10Y): 2.30%, 112.63 |
MARKETS:
Wall Street in sharp retreat
Stocks slide as investors gear up for the start of the corporate
reporting period. Citigroup tumbles on a possible Morgan deal.
U.S. stocks finish at 2009 lows amid earnings jitters
U.S. stocks finish at 2009 lows amid earnings jitters
U.S. stocks sink to their lowest levels so far this year, with financials
hammered the hardest. Investors appeared leery of what is likely to be
an especially grim earnings season.
CITIGROUP MAY BE BROKEN UP, UNDER GOVERNMENT INFLUENCE
Some private investors have been calling for Citigroup to break itself
up for years. Now, according to analysts, the government may be doing
the job.
CRUDE SUPER CONTANGO PUTS MORE OIL IN STORAGE, SIGNALS PRICE RISE
A record amount of crude oil has been put into storage as investors
and producers wait for oil prices to rise in the following months, in
the hope that they can sell their oil at dearer prices.
MANY MORE COMPANIES SLASHED EARNINGS OUTLOOKS AS ECONOMY CRATERED
A global economy in tatters, massive U.S. job losses and a plunge in
commodity prices have combined to spark an unusually high rate of
warnings about corporations' fourth-quarter earnings, data show.
BUSH LOOKS BACK DURING FINAL PRESS CONFERENCE
President Bush defends his record and names what he thinks are some of
the achievements and mistakes of his presidency during his final press
conference, taking a look back over eight years of an administration
marked by the Sept. 11, 2001, attacks, a recession and Hurricane
Katrina.
Alcoa quarterly loss tops $1 billion on metals slump, restructuring costs
Alcoa quarterly loss tops $1 billion on metals slump, restructuring costs
1/12/2009 4:12:38 PM EDT
U.S. stocks dragged lower by financial and energy shares; oil slides 8%
U.S. stocks dragged lower by financial and energy shares; oil slides 8%
1/12/2009 4:02:07 PM EDT
Stocks tumbled Monday amid concerns about 4th quarter results; Dow down 126, Nasdaq and S&P lose more than 2%.
Stocks tumbled Monday amid concerns about 4th quarter results; Dow
down 126, Nasdaq and S&P lose more than 2%.
Oil settles down nearly 8% to $37.59 a barrel on global economic concerns.
Oil settles down nearly 8% to $37.59 a barrel on global economic concerns.
Judge declines to revoke bail for accused swindler Bernard Madoff, but imposes new restrictions on his home detention.
Judge declines to revoke bail for accused swindler Bernard Madoff, but
imposes new restrictions on his home detention.
Energy: Super contango in crude oil creates record inventory level
A record amount of crude oil has been put into storage as investors
and producers wait for oil prices to rise in the following months, in
the hope that they can sell their oil at dearer prices.
Paced by major oils, shares in Europe resume recent pullback
Paced by major oils, shares in Europe resume recent pullback
European shares decline for a fourth straight session on Monday, as
worries over the world economy send shares of oil-sector companies
lower. Financials trade mixed.
HONG KONG, MUMBAI DRAG ON REGIONAL MARKETS
Asian shares were mostly a little lower Monday as investors looked for
Alcoa Inc. to kick off an expected rough earnings season later in the
U.S., with resource and airline stocks the main decliners.
ECONOMIC PREVIEW: AMERICAN CONSUMERS CRUSHED BY JOB LOSSES
With almost 2.6 million job losses last year, American consumers, once
seen as unflappable, have been pulling back.
nergy: Canadian stocks decline with oil, gold prices
Equities in Canada decline in tandem with U.S. markets and as oil and
gold prices head lower amid concerns of a slowing global economy.
President-elect Obama has formally asked President Bush to request the remaining $350 billion in bailout funding, White House says.
President-elect Obama has formally asked President Bush to request the
remaining $350 billion in bailout funding, White House says.
Energy: E.U. says Russia has promised to resume gas supplies on Tuesday
The Czech presidency of the European Union says that Russia has
promised to restart gas supplies to Europe via Ukraine starting
Tuesday morning after a deal was signed on monitoring the transit
route for Russian gas.
Energy: Petroleum stocks sag with oil prices
Energy stocks retreat, as crude futures move closer to their Dec. 19
low of $32.40 a barrel.
Stocks open mixed as investors continue to worry about the economy and await quarterly results.
Stocks open mixed as investors continue to worry about the economy and
await quarterly results.
Sunday, January 11, 2009
International
TOP STORIES as of 1000 GMT -- 11 January, 2009
CLASHES NEAR GAZA CITY, WITNESSES SAY
Clashes between Hamas militants and Israeli soldiers raged to
the north and east of densely populated Gaza City early Sunday,
the 16th day of an Israeli offensive, witnesses and medical
sources said.
COSTA RICA QUAKE TOLL JUMPS TO 34
The number of people killed from an earthquake in Costa Rica
rose to 34 on Saturday, a government official said.
THIRD PERSON ARRESTED IN SATYAM SCANDAL
The chief financial officer of India's Satyam Computer Services
Ltd. was arrested Saturday, the third person taken into custody
in a scandal that began when the company's chairman admitted
inflating profits with "fictitious" assets and non-existent
cash.
BUS TUMBLES INTO RAVINE IN PERU, KILLS 32
Thirty-two people were killed and 25 others injured when a bus
skidded off a rain-slicked mountain road and tumbled into a
ravine in northern Peru early Saturday, a transit police
spokesman told CNN.
MILITANTS ATTACK PAKISTAN TROOPS; DOZENS DEAD
Hundreds of militants, believed to be foreign fighters, launched
attacks on various military check posts in Pakistan's border
with Afghanistan Saturday night and early Sunday morning,
military officials said.
REPORT: EU, RUSSIA MOVE TOWARDS GAS DEAL
Russia and the European Union have agreed on how to control the
transit of natural gas through Ukraine to Europe, the Russian
news agency Interfax reported Saturday.
OBAMA FAMILY VISITS LINCOLN MEMORIAL
President-elect Barack Obama, who in 10 days will be sworn in
using the Bible of his political hero Abraham Lincoln, visited
the Lincoln Memorial in Washington on Saturday night with his
family.
PRINCE HARRY APOLOGIZES FOR RACIST REMARKS
Videos purportedly shot by Britain's Prince Harry and including
offensive language prompted an official apology Saturday from
the prince and the royal family.
-----------------------------------------
BUSINESS
LLOYDS TSB IN U.S. SANCTIONS BREACH
British bank Lloyds TSB agrees to pay a $350 million penalty to
the U.S. authorities for illegal financial transfers that
violated sanctions.
INDIAN OIL WORKERS END CRIPPLING STRIKE
Facing intense government pressure, Indian oil workers agreed to
call off a three-day strike and go back to work, the Oil and
Petroleum Ministry announced.
OBAMA CALLS FOR 'DRAMATIC ACTION'
U.S. President-elect Barack Obama said Congress must take
"dramatic action" on his economic aid package as soon as
possible, warning that a failure to do so would have devastating
long-term consequences for the nation.
Energy: Russia and Ukraine reach deal on natural-gas flows: report
Russia and Ukraine early Sunday reached a deal to restore natural-gas
flows to Europe, as monitoring teams from the European Union prepared
to oversee the transit of Russian gas, the Associated Press reported.
Hyundai Genesis has won North American Car of the Year at the Detroit Auto Show. Ford F-150 won Truck of the Year award.
yundai Genesis has won North American Car of the Year at the Detroit
Auto Show. Ford F-150 won Truck of the Year award.
