Friday, January 23, 2009
Tech : Google gains lead to late tech turnaround
Tech Stocks: Google gains lead to late tech turnaround
1/23/2009 4:37 PM ET
Technology stocks come back to life in late trading as Google Inc.
shares move higher, and the rest of the sector fends off an early
decline fueled by uncertainty over several corporate earnings reports.
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Intel denies seeking to derail AMD spinoff
1/23/2009 4:55 PM ET
Intel Corp. fires back at Advanced Micro Devices Inc., denying its
rival's charge that it was trying to derail a planned spinoff.
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AMD shares rise after chip maker posts narrower loss
1/23/2009 4:30 PM ET
Shares of Advanced Micro Devices Inc. close higher after the chip
maker reportsa narrower fourth-quarter loss in what CEO Dirk Meyer
describes as an industry with poor visibility.
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Xerox posts lower profit, sees first quarter below consensus
1/23/2009 4:28 PM ET
Xerox Corp. said Friday that its fourth-quarter net
income fell sharply from the year-earlier period, partly because of a
steep restructuring charge, and warned that first-quarter results will
come in below Wall Street's expectations.
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Earnings Outlook: Yahoo expected to see profit decline as Yang steps aside
1/23/2009 4:08 PM ET
Yahoo Inc. is expected to report a dip in profit for its fourth
quarter after the market's close on Tuesday, as incoming Chief
Executive Carol Bartz take
the reins from co-founder Jerry Yang and attempts to right the
struggling Internet company.
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Intel's Barrett, CEO during boom, to retire as chairman
1/23/2009 4:05 PM ET
Chairman Craig Barrett, who served as the semiconductor giant's chief
executive during a period of explosive growth amid the dot-com boom,
is stepping down in May.
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Economic Outlook: Texas Instruments seen posting sales drop as
analysts turn gloomy
1/23/2009 2:16 PM ET
Texas Instruments Inc. is expected to report a 33% drop in sales and
earnings amid slumping demand and concerns about competition in the
cell-phone chip business.
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Google shares gain, with analysts favorable toward results
1/23/2009 1:41 PM ET
Shares of Google move higher, gaining ground after the search giant
reported a sharply lower fourth-quarter profit that still beat
analysts' estimates.
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Telecom Stocks: Alcatel-Lucent, Sprint, Nokia decline
1/23/2009 10:56 AM ET
Telecommunications stocks retreat once again Friday as the broader
U.S. market falls in the wake of more weak corporate earnings reports.
Markets Friday, 01/23/2009
| Dow : 8077.56 down 45.24 | S & P : 831.95 up 4.45
|
| NASDAQ: 1477.29 up 11.80 | Bond (10Y): 2.61%, 109.72
MARKETS:
Stocks: Techs rally, blue chips slump
Google helps the tech sector rebound, but the Dow can't build any momentum.
Immelt's Last Stand
Immelt's Last Stand
Jeff Immelt and his team at General Electric held the line Friday.
Despite posting a steep drop in fourth-quarter profit, they defended
the dividend. They had to, writes Jim Jelter.
STOCKS SLIDE ON WEEK; S&P READY FOR ANOTHER DOWN QUARTER
With a third straight week of losses for the Standard & Poor's 500
Index, the backdrop to the dismal run can be seen in earnings reports
already in from more than a quarter of the companies listed on the
index.
AFLAC MORE EXPOSED TO HYBRID SECURITIES THAN RIVALS, UBS SAYS
Aflac Inc. is a lot more exposed to so-called hybrid securities than
rival insurers, UBS analyst Andrew Kligerman says.
SATYAM SOARS AS BOARD CITES PROGRESS ON NEW CEO, FUNDING
Shares of Satyam Computer surge, rallying as the battered
information-technology giant's board cites progress in its bid to
secure finding and find a new chief executive.
FUTURES MOVERS: OIL FUTURES RISE, JOINING BROAD RALLY IN COMMODITIES
Oil futures end up 6%, reversing earlier losses and joining a
broad-based rally in commodities, as traders looking for a safe haven
pile into hard assets.
Stocks struggle to close with mixed results. Dow drops; Nasdaq, S&P 500 rise. GE earnings weigh on blue chips; Google lifts techs.
Stocks struggle to close with mixed results. Dow drops; Nasdaq, S&P
500 rise. GE earnings weigh on blue chips; Google lifts techs.
Oil stages a late-day rally, adding $2.80 to settle at $46.47, as investors take their cue from Wall Street's Friday comeback.
-Oil stages a late-day rally, adding $2.80 to settle at $46.47, as
investors take their cue from Wall Street's Friday comeback.
Major U.S. stock indexes turn positive with energy shares pacing gains
Major U.S. stock indexes turn positive with energy shares pacing gains
1/23/2009 2:01:19 PM EDT
General Electric sees more credit losses in 2009
General Electric sees more credit losses in 2009
Following one of the most traumatic market periods in its 117-year
history, General Electric Co. says it foresees more credit losses in
2009 and plans to bulk up its cash reserve to weather the current
recession.
GOOGLE'S PROFIT DECLINES AS VALUE OF INVESTMENTS SHRINKS
Google shares trade higher as investors play off fourth-quarter
financial results to which analysts react positively for the most
part.
PFIZER IN TALKS TO BUY WYETH IN BLOCKBUSTER DEAL: WSJ
Pfizer Inc. is negotiating to acquire rival drug maker Wyeth in a
blockbuster deal potentially worth more than $60 billion that could
alter the global drug industry, the Wall Street Journal reports.
CURRENCIES: BRITISH POUND PLUMMETS AS DATA SHOW DEEPER U.K. RECESSION
The pound plunges to a 23-year low against the dollar, undermined as
government data confirmed the U.K. economy fell into a deep and
potentially long-lasting recession in the final three months of 2008.
ECONOMIC REPORT: BRITAIN OFFICIALLY ENTERS FIRST RECESSION SINCE 1991
The British economy contracts sharply in the final three months of
2008, shrinking 1.5% compared to the previous quarter.
Stocks plunge at open - Dow sinks 1.9% - after market bellwether GE posted a 47% profit drop and warned 2009 would be difficult.
Stocks plunge at open - Dow sinks 1.9% - after market bellwether GE
posted a 47% profit drop and warned 2009 would be difficult.
Energy: London's FTSE 100 below 4,000 as recession confirmed
London's top share index falls below the key 4,000 level for the first
time since early December on Friday after GDP figures confirm that the
country is in recession.
Energy: Oil service giant Schlumberger sees more tough times ahead
Schlumberger signals more tough times ahead for the hard-hit oil
drilling sector on top of its 17% drop in fourth-quarter net income.
Investors bid up gold futures as U.S. stocks gird for sharply lower open
Investors bid up gold futures as U.S. stocks gird for sharply lower open
1/23/2009 8:57:10 AM EDT
Thursday, January 22, 2009
Tech: Microsoft's weak earnings lead tech stocks into the red
Tech Stocks: Microsoft's weak earnings lead tech stocks into the red
1/22/2009 4:28 PM ET
Tech stocks put in a broadly negative trading session as the overall
sector closes in the red following a slate of negative business
reports from tech giants Microsoft, Nokia and Intel.
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Google's profit slips, but company beats estimates
1/22/2009 5:59 PM ET
Google Inc. posts a sharply lower fourth-quarter profit that still
beats Wall. Street analysts' estimates for a period in which it took
over $1 billion in charges related to the plummeting value of some
strategic investments.
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AMD posts narrower loss, accuses Intel of sowing uncertainty
1/22/2009 5:36 PM ET
Advanced Micro Devices Inc. posts a narrower fourth-quarter loss,
stung by a deep drop in computer microprocessor sales in what Chief
Executive Dirk Meyer describes as an industry with poor visibility.
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Lockheed Martin grows fourth-quarter profit; 2009 view lowered
1/22/2009 5:13 PM ET
Lockheed Martin Corp. reports that fourth-quarter profit edged up 3%
as robust earnings in its technology-based segments offset a slump in
aerospace and space systems.
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With iPods selling well, Apple closes with strong gains
1/22/2009 4:11 PM ET
Shares of Apple pull back from their high point, but remain up by more
than 6% in afternoon trading after the consumer-electronics company
defied expectations by reporting upbeat quarterly results fueled by
strong sales of iPod media
players.
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Obama gets to keep 'enhanced' BlackBerry
1/22/2009 4:03 PM ET
Commander in Chief Barack Obama, a known BlackBerry addict, doesn't
have to surrender his smartphone after all.
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Microsoft reports drop in earnings, plans to lay off 5,000
1/22/2009 3:02 PM ET
Microsoft rattles investors by releasing a disappointing quarterly
earnings report and announcing that it will lay off as many as 5,000
workers, a. startling development for a company that has taken pride
in avoiding such sweeping job cuts in its roughly 33-year history.
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Telecom Stocks: Nokia, telecom stocks tumble on wireless weakness
1/22/2009 1:22 PM ET
Shares of the world's top wireless-phone maker,
Finland's Nokia Corp., sank more than 11% Thursday after issuing weak
quarterly results and a dour forecast for 2009, sending most
telecommunications stocks lower.
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AMD expected to post bigger fourth-quarter loss
1/22/2009 12:15 PM ET
Advanced Micro Devices Inc., the second largest maker of computer
microprocessors, is expected to report a bigger fourth-quarter loss as
the chip industry struggles through a severe downturn.
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Nokia losing its grip on high-end phones
1/22/2009 11:55 AM ET
LONDON Nokia Corp., the world's top mobile-phone maker, is
rapidly losing ground to rivals like Research in Motion, Apple and
even HTC at the high end and must urgently refresh its portfolio in
this lucrative segment of the market, analysts cautioned Thursday.
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A sobered Google poised to report results
1/22/2009 11:52 AM ET
Google Inc. will follow a round of layoffs and the shuttering of a
number of peripheral products by reporting fiscal fourth-quarter
results after the
market's close, and analysts are looking for the company to post an
increased profit.
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Emerging Markets Report: Korea's GDP posts sharpest drop since Asian crisis
1/22/2009 11:34 AM ET
South Korea's economy posts its sharpest deterioration since the Asian
financial crisis, highlighting how hard the region has been battered
by the global economic downturn.
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EBay shares slide on first-time earnings decline
1/22/2009 11:27 AM ET
EBay Inc. shares slide more than 10% after the online auction provider reports
disappointing revenue for the fourth quarter and warns that the current period
would also disappoint.
Markets Thursday, 01/22/2009
| Dow : 8122.80 down 105.30 | S & P : 827.50 down 12.74 |
| NASDAQ: 1465.49 down 41.58 | Bond (10Y): 2.59%, 109.91
MARKETS:
Stocks drop on banks and Microsoft
Wall Street sees red, with financial and technology issues leading the decline.
Google's profit slips, but company beats estimates
Google's profit slips, but company beats estimates
Google Inc. posts fiscal fourth-quarter results that beat Wall Street
analysts'estimates, despite a stark decline in profit compared to the
period a year earlier.
OBAMA GETS TO KEEP 'ENHANCED' BLACKBERRY
Commander in Chief Barack Obama, a known BlackBerry addict, doesn't
have to surrender his smartphone after all.
THAIN RESIGNS FROM BANK OF AMERICA
Former Merrill Lynch Chief Executive John Thain resigns from Bank of America.
BAILED-OUT BANKS WILL HAVE TO DISCLOSE LENDING
Banks getting money from the government's $700 billion bailout fund
will have to explain in detail what they are doing with the money, the
incoming head of. the Treasury Department says.
MICROSOFT REPORTS DROP IN EARNINGS, PLANS TO LAY OFF 5,000
Microsoft rattles investors by releasing a disappointing quarterly
earnings report and announcing that it will lay off as many as 5,000
workers, a startling development for a company that has taken pride in
avoiding such sweeping job cuts in its roughly 33-year history.
Google reports earnings of $5.10 a share and revenue of $5.7 billion, both beating analyst projections. Stock up 2% after hours.
Google reports earnings of $5.10 a share and revenue of $5.7 billion,
both beating analyst projections. Stock up 2% after hours.
Wall Street ends with a selloff. Dow, Nasdaq, S&P 500 fall 1% or more as BofA shakeup and Microsoft earnings rattle investors.
Wall Street ends with a selloff. Dow, Nasdaq, S&P 500 fall 1% or more
as BofA shakeup and Microsoft earnings rattle investors.
Breaking News Thu., January 22, 2009
Senate Committee Approves Timothy Geithner for Treasury Secretary.
Merrill Lynch CEO John Thain resigns from Bank of America: reports
Merrill Lynch CEO John Thain resigns from Bank of America: reports
1/22/2009 12:03:41 PM EDT
Microsoft reports drop in earnings, plans to lay off 5,000
Microsoft reports drop in earnings, plans to lay off 5,000
Microsoft Corp. reports a drop in earnings for its fiscal second
quarter and announces plans to lay off as many as 5,000 workers as the
slowing economy has hurt the software giant's businesses.
BOOSTED BY STRONG IPOD SALES, APPLE SHARES RISE
Shares of Apple surge ahead of Thursday's open bell, playing off
financial results in which first-quarter profit easily top investor
expectations.
NOKIA SAYS PROFIT DROPS 69%, LOWERS 2009 VIEW
Nokia, the world's largest maker of mobile phones, generates a 69%
drop in fourth-quarter profit, reflecting waning demand during the key
holiday season, particularly in emerging markets like China.
BANK LOSSES BATTER S&P 500 EARNINGS OUTLOOKS
The bad debt rotting banks' books has sent projections for corporate
earnings diving, with S&P 500 profits now on track for a roughly 20%
drop -- significantly worse than they were at the start of the
quarter.
HOUSING STILL HEADING FOR A BOTTOM, BUT SHOULD GET THERE IN '09
Housing will not look much better at the end of this year than it does
now, but "we do expect '09 will be the bottom," the chief economist
for the National Association of Home Builders said Tuesday.
Oil prices plummet after government reports much bigger-than-expected rise in crude and gasoline inventories.
Oil prices plummet after government reports much bigger-than-expected
rise in crude and gasoline inventories.
Dow tumbles over 200 points as selling accelerates amid concerns about housing and jobs.
Dow tumbles over 200 points as selling accelerates amid concerns about
housing and jobs.
Energy: Sector weakens with broad market on bearish supply view
Energy stocks fell Thursday ahead of an expected rise in weekly
inventories, as the sector cooled off after big gains in the previous
session.
Nokia reports worse-than-forecast 19% sales fall
Nokia reports worse-than-forecast 19% sales fall
1/22/2009 6:04:01 AM EDT
New homes starting construction in December fell by 15.5% to an annual rate of 550,000 - lowest since record keeping.
New homes starting construction in December fell by 15.5% to an annual
rate of 550,000 - lowest since record keeping.
Microsoft says it will cut up to 5,000 jobs over 18 months - 1,400 immediately; reports an 11% decline in net income.
Microsoft says it will cut up to 5,000 jobs over 18 months - 1,400
immediately; reports an 11% decline in net income.
Stocks tumble at the open - Dow falls 1%, Nasdaq drops 2.5%, S&P 500 slips 1% - after Microsoft announces job cuts.
Stocks tumble at the open - Dow falls 1%, Nasdaq drops 2.5%, S&P 500
slips 1% - after Microsoft announces job cuts.
Wednesday, January 21, 2009
Markets Wednesday, 01/21/2009
| Dow : 8228.10 up 279.01 | S & P : 840.24 up 35.02
|
| NASDAQ: 1507.07 up 66.21 | Bond (10Y): 2.52%, 110.59
MARKETS:
Big rally on Wall Street
Stocks bounce back on IBM's earnings and strength in bank stocks.
US Stocks Rise; Financials, Energy Stocks Bounce
U.S. stocks rose Wednesday as the financial sector bounced after one
of its biggest drops ever and as oil prices helped the energy sector
recover some of
its recent losses. The Dow Jones Industrial Average rose 99 points, or
0.7%, to 8046, and has spent much of the session bouncing around the
psychologically significant 8000 level. The blue-chip measure was
helped by gains in all its financial components and in International
Business Machines, which climbed 9%
after reporting strong earnings. The Dow's big losers included General
Motors, which fell 8% after reporting an 11% decline in 2008 sales and
forecasting a bleak first quarter as well.
STOCKS RISE AS ANALYSTS MULL OBAMA'S FIRST STEPS TO STEM
CRISIS
Financials stocks steer a broad market comeback after the prior day's
rout that had the sector matching its worst day ever and the Dow Jones
Industrial Average tallying its worst Inaugural Day performance in its
history.
NEW BANK-RESCUE PLAN ON TAP, TREASURY NOMINEE GEITHNER SAYS
President Obama is working on a comprehensive bank-rescue package that will be
unveiled in the next few weeks, according to Timothy Geithner, Obama's nominee
to be the nation's next Treasury secretary.
BANK STOCKS MAY FALL FURTHER IF GOVERNMENT INTERVENTION GROWS
Bank stocks may fall further, despite a 40% plunge so far this year,
some analysts say.
GM SAYS GLOBAL SALES DOWN 11% IN 2008; TOYOTA TAKES LEAD
General Motors Corp., after a seven-decade reign atop the automotive heap,
relinquishes its global sales crown to Toyota Motor Corp., as growth in
emerging markets can't overcome a sharp drop in North America.
HOUSING STILL HEADING FOR A BOTTOM, BUT SHOULD GET THERE IN '09
Housing will not look much better at the end of this year than it does
now, but "we do expect '09 will be the bottom," the chief economist
for the National Association of Home Builders said Tuesday.
Citigroup says lead director Richard Parsons will become chairman of board on Feb. 23, replacing Win Bischoff.
Citigroup says lead director Richard Parsons will become chairman of
board on Feb. 23, replacing Win Bischoff.
Wall Street rallies. Dow, S&P and Nasdaq jump 3% or better as IBM and bank stocks lift markets.
Wall Street rallies. Dow, S&P and Nasdaq jump 3% or better as IBM and
bank stocks lift markets.
Breaking News Wed., January 21, 2009
President Obama To Sign Executive Order Thursday to Close Gitmo Within
a Year [4:20 p.m. ET]
Oil adds $2.71 to settle at $43.55 a barrel.
Oil adds $2.71 to settle at $43.55 a barrel.
Obama freezes salaries of senior White House staff, tightens lobbying rules
Obama freezes salaries of senior White House staff, tightens lobbying rules
1/21/2009 1:25:28 PM EDT
Breaking News Wed., January 21, 2009
President Obama Puts Freeze on Salaries of W.H. Employees Making More
Than 100K [1:26 p.m. ET]
Stocks rise as analysts mull Obama's first steps to stem crisis
Stocks rise as analysts mull Obama's first steps to stem crisis
Financials stocks steer a broad market comeback after the prior day's
rout that had the sector matching its worst day ever and the Dow Jones
Industrial Average tallying its worst Inaugural Day performance in its
history.
TREASURY NOMINEE GEITHNER PLEDGES TARP REFORM
Timothy Geithner, President Obama's nominee for the post of Treasury
Secretary, promises top-to-bottom reform of the government's financial
market rescue plan.
GM SAYS GLOBAL SALES DOWN 11% IN 2008; TOYOTA TAKES LEAD
General Motors Corp., after a seven-decade reign atop the automotive
heap, relinquishes its global sales crown to Toyota Motor Corp., as
growth in emerging markets can't overcome a sharp drop in North
America.
UNITED TECH'S FOURTH-QUARTER PROFIT EDGES UP 8% ON AEROSPACE
NEW YORK (MarketWatch) -- United Technologies Corp. said Wednesday its
fourth-quarter net income rose 8% as a robust aerospace market offset
a falloff in construction-related demand for its elevators, air
conditioning and building-security products.
FUTURES MOVERS: CRUDE-OIL FUTURES RISE ABOVE $41 A BARREL
Crude-oil futures rise above $41 a barrel early Wednesday, buoyed by
signs that the OPEC cartel is implementing cuts in its oil output.
HOUSING STILL HEADING FOR A BOTTOM, BUT SHOULD GET THERE IN '09
Housing will not look much better at the end of this year than it does
now, but "we do expect '09 will be the bottom," the chief economist
for the National Association of Home Builders said Tuesday.
Treasury nominee Geithner pledges aggressive action to get economy moving
Treasury nominee Geithner pledges aggressive action to get economy moving
Stocks surge at open, following a better-than-expected outlook from IBM and Obama's vow to tackle the financial crisis.
Stocks surge at open, following a better-than-expected outlook from
IBM and Obama's vow to tackle the financial crisis.
Tuesday, January 20, 2009
International
TOP STORIES as of 0900 HKT -- 21 January, 2009
OBAMA: A NEW WAY FORWARD
Barack Obama uses his inaugural speech as 44th president to
deliver a hopeful but sobering assessment of what America can
become. The first African-American promised "a new way forward
based on mutual interest" to Muslims. To terrorists, he warned:
"You cannot outlast us, and we will defeat you."
WORLD (MOSTLY) CELEBRATES OBAMA'S DAY
Barack Obama's inauguration as the 44th U.S. President has been
accompanied by celebrations around the world.
TED KENNEDY COLLAPSES AT INAUGURAL LUNCH
Senator Ted Kennedy, D-Massachusetts, collapsed Tuesday
afternoon during a luncheon held for President Barack Obama in
the Capitol's Statuary Hall, a senator siad.
OBAMA PRAISED BY WORLD LEADERS
Members of the international community have welcomed Barack
Obama becoming the 44th President of the United States -- and
the first African-American to take leadership of his country.
OBAMA PROMISES BOLD ACTION ON ECONOMY
President-elect Barack Obama's inaugural address is one of the
most anticipated speeches in decades, with many expecting his
words to be chiseled into marble some day.
CHANGE WAS QUICK AT WHITE HOUSE WEB SITE
In keeping with the theme that swept President Obama into the
Oval Office, change has come to the official White House Web
site.
107-YEAR-OLD: HOPED IT WOULD HAPPEN IN MY TIME
Ann Nixon Cooper craned her neck and leaned her head forward. On
the television set across the room, Barack Obama moved forward
and put his hand on the Bible.
COMMENTARY: OBAMA THE KIND OF HERO WE NEED
President Barack Obama, our newly inaugurated 44th president,
showed the millions watching around the world and the freezing
millions there in person on the Mall why he won the election --
and why so many believe he can lead us in these troubled times.
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BUSINESS
OBAMA SPENDING PLAN WORRIES U.S. MARKETS
U.S. markets slipped Tuesday on banking concerns and as traders
also faced up to expected rises in government debt. With the
government deficit already exceeding $1 trillion, the rescue
plan that Obama has been touting will mean the government
auctioning off a tremendous volume of debt -- which makes
government bonds unattractive.
FIAT JOINS FORCES WITH AILING CHRYSLER
Italian car giant Fiat is joining forces with ailing U.S.
automaker Chrysler, the two companies say, in a move that will
give Fiat a large stake in one of the Big Three while supplying
Chrysler with access to new technology.
RUSSIA RESUMES GAS FLOW TO EUROPE
Russian energy giant Gazprom resumes pumping natural gas to
Europe via Ukraine, a Gazprom spokesman tells CNN. The long
dispute over gas payments was resolved after meetings between
Russia and Ukraine, negotiations Ukrainian Prime Minister Yulia
Tymoshenko described as "difficult."
Markets Tuesday, 01/20/2009
| Dow : 7949.09 down 332.13 | S & P : 805.22 down 44.90 |
| NASDAQ: 1440.86 down 88.47 | Bond (10Y): 2.38%, 111.91
MARKETS:
Stocks battered on recession fears
Wall Street closes at the lowest point since late November as economic
worries trump enthusiasm about the inauguration of President Barack
Obama.
Banks battered as sector matches worst day ever
Banks battered as sector matches worst day ever
U.S. financial stocks are led lower by State Street Corp.'s losing
more than half its market value after the firm unveils a 71% drop in
earnings.
BANK OF AMERICA NEEDS MORE THAN $80 BILLION IN CAPITAL: FBR
Bank of America needs more than $80 billion in new common equity
capital to support the huge amount of assets on its balance sheet, an
analyst says.
MARKET SNAPSHOT: OBAMA INHERITS BATTERED MARKET; DOW DIPS BELOW 8,000
With financial stocks dragging down equities as George W. Bush exits
Washington, the market's declines are emblematic of the fact that
Barack Obama's new administration is starting from behind, at least in
terms of annualized stock-return performance.
OBAMA SAYS AMERICANS WILL MEET CHALLENGES OF WAR, ECONOMY
The new commander in chief calls on Americans to take part in a "new
era of responsibility" to meet the challenges facing the United States
at home and abroad after being sworn in as the 44th president.
IBM reports earnings of $3.28 a share, beating Wall Street projections, on $27 billion in revenue - slightly missing estimates.
IBM reports earnings of $3.28 a share, beating Wall Street
projections, on $27 billion in revenue - slightly missing estimates.
Wall Street takes inaugural drubbing. Dow drops below 8,000 to 2-month low. Nasdaq, S&P 500 each drop more than 5%.
Wall Street takes inaugural drubbing. Dow drops below 8,000 to 2-month
low. Nasdaq, S&P 500 each drop more than 5%.
Energy: Russian gas starts flowing via Ukraine to Europe
Emerging Markets Report - Russian gas starts flowing via Ukraine to Europe
Russian gas finally starts flowing to Europe via Ukraine after a
13-day disruption, as Russia and Ukraine signed a deal resolving their
contentious energy dispute.
Dow drops below 8,000 to two-month low as investors look beyond Obama's historic inauguration to the battered economy he inherits.
Dow drops below 8,000 to two-month low as investors look beyond
Obama's historic inauguration to the battered economy he inherits.
State Street shares cut in half after company outlines new risks
State Street shares cut in half after company outlines new risks
State Street Corp.'s stock falls 50% on Tuesday on concerns the
company may have to bring troubled investment vehicles onto its
balance sheet, a move that could force it to raise capital and
potentially dilute shareholders.
MOVERS & SHAKERS: TUESDAY'S BIGGEST GAINING AND DECLINING STOCKS
Big movers in U.S. trade include Citi, Noble Energy and State Street.
OBAMA TO BE SWORN IN AS 44TH PRESIDENT ON HISTORIC DAY
Capping a history-making run for the White House, President-elect
Barack Obama will take the oath of office at noon on Tuesday and
become the first African-American president of the United States
before a massive crowd in the nation's capital.
FUTURES MOVERS: OIL SWINGS AS FRONT-MONTH CONTRACT EXPIRES
Crude-oil futures swing between gains and losses, as investors make
last-minute trading decisions before the front-month contract expires
later today.
MEXICO'S SLIM TO INVEST $250 MILLION IN NEW YORK TIMES
New York Times Co. reached an agreement under which companies backed
by the Mexican telecom investor Carlos Slim will invest $250 million
and could boost their holding, helping the New York media company
reduce its debt and strengthen its finances.
Dow tumbles to session low - down over 200 points - immediately following President Obama's inaugural address.
Dow tumbles to session low - down over 200 points - immediately
following President Obama's inaugural address.
Breaking News: Barack Obama sworn in as 44th president
WASHINGTON (AP) - Barack Obama was sworn in Tuesday as the 44th U.S.
president, shattering racial barriers to become the first black leader
of a country gripped by profound economic troubles and at war in two
distant lands.
In his inaugural speech as prepared for delivery, Obama asked
Americans for a renewed commitment to service.
"What is required of us now is a new era of responsibility - a
recognition, on the part of every American, that we have duties to
ourselves, our nation, and the world, duties that we do not grudgingly
accept but rather seize gladly, firm in the knowledge that there is
nothing so satisfying to the spirit, so defining of our character,
than giving our all to a difficult task."
Energy: Stocks in Canada fall, as rates cut to record low
Stocks in Canada fell sharply, as the Bank of Canada cut its benchmark
interest rate to a record low, saying that the economy is now in
recession.
Stocks open flat on Inauguration Day as worries about the health of the banking sector offset enthusiasm over new administration.
Stocks open flat on Inauguration Day as worries about the health of
the banking sector offset enthusiasm over new administration.
Monday, January 19, 2009
Market Monday, 01/19/2009
| 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:
Wall Street's inauguration rally
Investor euphoria could propel stocks this week, but the longer-term
outlook is less upbeat.
Oil falls on gas deal, Gaza cease-fire
Crude oil eases as Russian gas supply concerns let up, but the
weakening global economy continues to hurt demand.
N.Y. Times, Mexican telecom exec Slim talk investment: Journal
N.Y. Times, Mexican telecom exec Slim talk investment: Journal
New York Times Co. is in talks under which the Mexican
telecommunications investor Carlos Slim would invest in the publisher,
possibly through an issue of preferred stock, people familiar with the
matter told The Wall Street
Journal.
RICHEMONT POSTS 7% DROP IN QUARTERLY SALES; SEES NO RECOVERY
Compagnie Financiere Richemont SA, the world's largest jewelry group,
reports a 7% drop in third-quarter sales and says current market
conditions are the toughest it's seen since its creation 20 years ago.
LONDON MARKETS: U.K. BANKS SLAMMED IN LONDON; RBS SHARES PLUNGE 63%
London shares slammed as Royal Bank of Scotland stocks fall over 60%.
IRWIN KELLNER: OBAMA SHOULD ENCOURAGE SPENDING IN SPEECH
When it comes to the economy, Barack Obama should use his inaugural
address to set the stage for some bold initiatives. To be successful,
he must walk the line between not mincing words on how bad the economy
is, and being so pessimistic that he talks the financial markets into
another swoon.
Energy: Bank help European shares advance; Barclays shares soar
European shares move higher, with banks advancing after the U.K.
government announces a new package of measures to support the
country's financial system and Barclays reassured on profit trends.
Energy: Crude-oil futures dip after Israel ceasefire, Ukraine gas deal
Crude-oil futures edged lower Monday as a cease-fire in the Gaza Strip
and a pact between Russia and Ukraine over natural-gas exports helped
ease worries about energy supplies.
Sunday, January 18, 2009
Energy: Ukraine, Russia reportedly reach deal on natural gas
Russia and Ukraine say they've reached a deal to resume the
distribution of natural gas to Europe, ending a dispute that has
disrupted the gas flow for about two weeks, hampering economic
activity and leaving some people unable to heat their homes.
Energy: U.S. 4th-quarter VC funding fell 30% to lowest total in 3 years
Venture-capital investment in U.S. companies fell 30% in the fourth
quarter, with the total marking the lowest quarterly VC investment in
three years and information technology in particular recording the
lowest investment since 1998, Dow Jones Venture Source reported.
