Archive for May 1st, 2008
Posted by: admin in News
NY-Based Eos Airlines Files For Bankruptcy - Money News Story - WCVB
PURCHASE, N.Y. — New York-based business class-only Eos Airlines says it has filed for Chapter 11 bankruptcy and will cease operations by Monday. Sunday, April 27, 2008.
Attorney: Some Bottled Water Actually Comes From The Tap - Money News
Attorney: Some Bottled Water Actually Comes From The Tap Consumers Would Be Surprised To Know What’s In Bottled Water, Consumer Group States
MSN Money - Top Rated Articles
Lifestyle; Maps & Directions; Money; Movies; Music; News; Real Estate/Rentals; Shopping; Spaces; Sports Special Coverage: A collection of current projects and in-depth reports
Gas prices still seen high despite looming recession - Jan. 22, 2008
High gas prices: Recession-proof Americans might see falling stock markets and feed://rss.cnn.com/rss/money_news_economy.rss
Credit Cards | Money | News.com.au
hints and tips for managing your loans, credit cards, tax, budgets and a currency converter tool
O’Reilly Money:Tech Conference News and Discount
The O’Reilly Money:Tech Conference (previous coverage here) is coming on February 6-7, 2008 at the Waldorf Astoria Hotel in New
Stocks Surge Following Fed Interest Cut - Money News Story - KCCI Des
The Dow climbed more than 400 points following a Federal Reserve interest rate cut on Tuesday. Tuesday, March 18, 2008.
COX.net for New Orleans - Money
Cox.net is provided by Cox Communications to provide local news, weather, sports, movie information at the theeater and at your home, and access to the tools that GM
WTVY - Money News 4, Your News Leader, 4 Warn Desktop Alert, Dothan
News 4, Your News Leader, 4 Warn Desktop Alert, Dothan, Wiregrass, WTVY Marketplace
Financial Market News — Futures, Stocks, Bonds, Currencies
Turn to AOL Personal Finance for daily financial market news. Get the breaking news on investing, stock markets, equity growth, or research the latest IPO calendar. AOL Personal
Company report, financial results, key ratios, income statement - MSN
Lifestyle; Maps & Directions; Money; Movies; Music; News; Real Estate/Rentals; Shopping; Spaces; Sports Company Report. The company report provides an overview of the company
Share This
Share This
 No Comments »
Posted by: in Latest News
Filed under: Deals, Internet, Microsoft (MSFT), Yahoo! (YHOO), Time Warner (TWX)
Microsoft (NASDAQ: MSFT) might be much better off by not overpaying for Yahoo! (NASDAQ: YHOO). To pay nearly $45 billion for a company that’s really struggling seems extreme — especially since I think Time Warner (NYSE: TWX) will spin out AOL in a few months. Microsoft could buy AOL much, much cheaper than Yahoo.
AOL brings to the table both traffic and many properties, including BloggingStocks! The problem is that revenue is declining and so are unique visitors, down from 110 million average unique visitors in the fourth quarter, to 109 million in Q1.
I think that with Microsoft’s focused management, it could achieve the same turnaround at AOL that it is anticipating achieving with Yahoo, only it wouldn’t have to spend $45 billion.
Some analysts have stated that AOL is a consolation prize for the loser in the Yahoo! battle. I think Yahoo! is the booby prize and AOL might just be the better deal.
Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer’s fund has no position in any stock mentioned, as of 5/1/08
Permalink | Email this | Linking Blogs | Comments
Share This
Share This
No Comments »
Posted by: in Latest News
Filed under: Deals, Law, Competitive strategy, eBay (EBAY)
The lawsuit between Ebay (NASDAQ:EBAY) and Craigslist is just beginning and its genesis has finally come out.
The issue between the companies began when Ebay brought its classified business Kijiji into the US market a little less than a year ago. Craigslist viewed this as triggering an anti-competitive clause with Ebay, one of the on the web classified site’s shareholders.
According to The Wall Street Journal’s story on the lawsuit, “Craigslist directors held clandestine meetings in October 2007 to dilute eBay’s minority stake in the online-classifieds company after eBay developed a rival offering.”
It turns out that Ebay had also made an offer to purchase all of Craigslist.
The merit in the lawsuit would appear to be with Craigslist. It is hard to envision that it would stand by and let a huge shareholder set up a direct competitor. It is harder to imagine why Ebay would file suit over the effort by Craigslist to protect itself.
The law may be on Ebay’s side, to some extent. Craigslist did have a board meeting and set-up provisions to keep Ebay from taking a more active role. But, the morality of the situation favors Craigslist. Ebay’s attempt to set up a competing business violated the “spirit” of the relationship between the two companies.
Douglas A. McIntyre is an editor at 247wallst.com and author of the Ten Stocks Under $10 letter.
Read | Permalink | Email this | Linking Blogs | Comments
Share This
Share This
No Comments »
Posted by: in Latest News
Filed under: Deals, Industry, Verizon Communications (VZ), News Corp’B’ (NWS)
 Cablevision (NYSE: CVC) is considering buying Long Island newspaper Newsday. Jared Kushner, a rich young publisher who owns the small weekly The New York Observer may also be involved. As far any anyone knows, the Observer has never made any money.
According to Reuters, the bid would be above the $580 million already offered by New York Daily News owner Mort Zuckerman and Rupert Murdoch’s News Corp (NYSE: NWS), which owns the New York Post.
Cablevision’s board has already injured its shareholders. The company’s controlling shareholders, the Dolans, made a cash offer of $36.26 for the company in mid-2007. That was just before cable companies began to report weaker earnings due to increasing competition from phone operators like Verizon (NYSE:VZ). CVC now sells for $23,
There are no savings for Cablevision if it buys a newspaper. If it makes an offer in partnership with the Observer, the NY-based paper is so tiny that any cost slicing would be meaningless.
The reasons behind the Post and Daily News offers have some sense to them. By combining with another large daily paper which has overlapping geographic distribution, the chances of taking out tens of millions of dollars in costs per annum are excellent.
Putting a cable company with a daily newspaper does not make Cablevision shareholders a dime. With the newspaper industry faltering, it may actually cost them a great deal of money.
Douglas A. McIntyre is an editor at 247wallst.com and author of the Ten Stocks Under $10 letter.
Read | Permalink | Email this | Linking Blogs | Comments
Share This
Share This
No Comments »
Posted by: in Latest News
Filed under: Before the bell, Earnings reports, Deals, Microsoft (MSFT), Yahoo! (YHOO), Apple Inc (AAPL), Starbucks (SBUX), XM Satellite Radio (XMSR), Sirius Satellite Radio (SIRI), AT and T (T), Adobe Systems (ADBE), QUALCOMM Inc (QCOM), AMR Corp (AMR)
 Before the bell: Futures higher after Fed move and ahead of data, Exxon
According to The Wall Street Journal, Microsoft Corp. (NASDAQ: MSFT), attempting to avoid a big hostile takeover bid, indicated it might be willing to raise its bid to as much as $33 per Yahoo Inc. (NASDAQ: YHOO) share. Microsoft’s board had failed to reach a final decision on how to proceed with its bid for the World wide web search group. Yahoo!, though, might want $35-37 per share. And I thought Ballmer stated he would lower the bid … Don’t they know by now these negotiating tactics are well known? In any event, it’s starting to look more and more like the deal is closer than ever and the parties are willing, despite each showing off some muscle first. Starbucks (NASDAQ: SBUX) reported late Wednesday a 28% drop in second-quarter earnings to $108.7 million, matching market expectations. While the drop was expected, it doesn’t mean the report showed any positive changes following Schultz coming back to the CEO role. Perhaps it’s too early to see them manifested, but Starbucks, once such a darling, isn’t showing improvement yet. Stock is up about half a percent in premarket trading. Adobe Systems Inc., (NASDAQ: ADBE) estimated that fiscal second-quarter earnings and revenue would come in near the high end of its targets and affirmed its earnings outlook for the full year. That is about 45-47 cents, compared to analysts’ estimates of 43 cents per share. British Airways stated late Wednesday that it is considering ways to have increase cooperation with AMR (NYSE: AMR) unit American Airlines and Continental Airlines (NYSE: CAL). British Airways isn’t allowed to purchase controlling interest in either carrier due to U.S. law on foreign ownership of airlines and American CEO recently stated he wasn’t looking to merge. Increased cooperation, though, may be fruitful to both.
According to MacRumors, AT&T (NYSE: T) hotspots are now offering free Wi-Fi access to iPhone users. Barnes and Noble, Starbucks and now AT&T stores are offering iPhone users a custom portal to access free Wi-Fi. MacRumors has been able to confirm this finding at a local Barnes and Noble.
AT&Tis also launching its new video service, AT&T Mobile Television, for cell phones Sunday on two phones, and will charge $15 per month for 10 channels. The service is operated by Qualcomm Inc. (NASDAQ: QCOM) and will have two exclusive channels on the service.
Sirius (NASDAQ: SIRI) and XM Satellite (NASDAQ: XMSR), whose deal was extended to May 1 back in February, have each agreed to extend their deal yet again by two weeks as they await approval for the deal from the Federal Communications Commission. The Department of Justice gave its go-ahead in March. The deal has Sirius acquiring its larger rival.
Share This
Share This
No Comments »
Posted by: in Latest News
Filed under: After the bell, Earnings reports, Deals, General Motors (GM), Exxon Mobil (XOM), Citigroup Inc. (C), IAC/InterActiveCorp (IACI), Economic data, Garmin Ltd (GRMN), Federal Reserve
If you thought the news going to be the actual FOMC cut was the key today, it wasn’t. The bias and tone for more rate cuts was the most important, and the tone was not hawkish enough. Traders wanted to see a signal of the end of rate cuts, at least for now, so that oil and gold would tank and that the dollar would recover.
GDP came out and showed a +0.6% gain, meaning the official recession isn’t technically here yet. Warren Buffett said it is, and he might be good enough of a judge over anyone. Regardless, this is the first positive month for the S&P after it just missed a positive month in March.
Below are the unofficial closing levels for key US index levels:
- DJIA 12,818.58 (-13.36; -0.10%)
- S&P500 1,385.47 (-5.47; -0.39%)
- NASDAQ 2,412.80 (-13.30; -0.55%)
- 10YR-BOND 3.7590% (-0.066%)
- 52-WEEK LOWS.
Buffalo Wild Wings (NASDAQ: BWLD) was upgraded by KeyBanc Capital Markets to Buy and by Cowen & Co. to Outperform. Yesterday, Buffalo Wild Wings reported strong quarter results with a 22% revenue boost and earnings meeting street expectations. Shares were up 18% to $30.74 in the final minutes of the day.
Citigroup (NYSE: C) dipped after its stock offering priced 50% higher than expected at $4.5 billion Tuesday evening. Diluting current shareholders earnings, the offering of 178.1 million shares at $25.27 attempts to combat the big write downs and losses suffered over the last two quarters. Shares were down nearly 4% to $25.32 in the final minutes of the day.
General Motors (NYSE: GM) posted narrower than expected losses this day, driving the stock up. The company posted a net loss of $3.25 billion, or $5.74 per share. Excluding charges, the company showed a loss of $0.62 EPS, much better then the -$1.67 EPS estimated by Wall Street. Shares were up over 9% to $23.30 in the final minutes of the day.
Garmin Ltd. (NYSE: GRMN) reported lower than expected earnings today due to slowed demand. Guidance indicated a continued decrease in prices. Net income hit $147.8, or $0.67 EPS, lower than estimates of $0.74. Shares were down over 11% to $41.15 in the final minutes of the day.
IAC/InterActivCorp (NASDAQ: IACI)’s CEO Barry Diller announced that he wants the previously announced spin-offs of various business parts to be completed by August. Today, the web conglomerate also reported earnings of $87.2 million, or $0.30 EPS, down from last year, but meeting expectations. Shares were up 2% at $20.87 in the final minutes of the day.
Savvis Inc. (NASDAQ: SVVS) falling to a new low after slicing 2008 revenue outlook Tuesday. It reported narrower losses than expected of $4.2 million or $0.08 EPS, beating estimates of -$0.13 EPS. Downgrades didn’t exactly help. Shares were down 22% at $14.55 in the final minutes of the day.
Exxon Mobil (NYSE: XOM) raised its second quarter dividend by 14% to $0.40 per share payable June 10. Last year, dividends were raised by 9%. Shares were up 2% at $93.63 in the final minutes of the day.
Share This
Share This
No Comments »
|
Entries (RSS)