DailyFinance

The Dow's Jump Doesn't Mean All's Well in Europe

Dan Burrows — 2010-02-09T21:20:00Z

The Dow surged Tuesday on reports the European Union was hatching a plan to end the debt crisis in Greece, but just because the blue-chip index sits once again above 10,000 doesn't mean the latest threat to equities is over. Greece, after all, is but one wobbly domino in Euroland -- and that means investors should brace themselves for more tremors to come.

Continue reading The Dow's Jump Doesn't Mean All's Well in Europe

The Dow's Jump Doesn't Mean All's Well in Europe originally appeared on DailyFinance on Tue, 09 Feb 2010 16:20:00.

Filed Under: Economy, Investing

House Panel to Ask Experts About Unwinding Stimulus

Lita Epstein — 2010-02-09T19:18:00Z

The House Committee on Financial Services, chaired by U.S. Rep. Barney Frank (D-Mass.) will soon meet to consider when would be the best time to unwind the stimulus by the Federal Reserve. The hearing, titled "Unwinding Emergency Federal Reserve Liquidity Programs and Implications for Economic Recovery," was scheduled for Wednesday, but was postponed because of weather conditions in Washington, D.C. The capital is forecast to receive 10 to 20 inches of snow between Tuesday and Wednesday, on top of the 2 feet that fell last weekend.

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House Panel to Ask Experts About Unwinding Stimulus originally appeared on DailyFinance on Tue, 09 Feb 2010 14:18:00.

Filed Under: Economy, People, Investing, Credit

Coke Gets Lots of Pop from China and India

Pallavi Gogoi — 2010-02-09T18:20:00Z

As Americans struggled amid the worst recession in decades, beverage giant Coca-Cola (KO) relied on its large global operations to pick up the slack. It turned its laser focus on the two big international markets where the growth is: India and China. The strategy has paid off as consumers in the two giant Asian nations responded by buying its beverages with gusto. In its fourth-quarter earnings report, Coke says sales skyrocketed 29% in China, and 20% in India.

Continue reading Coke Gets Lots of Pop from China and India

Coke Gets Lots of Pop from China and India originally appeared on DailyFinance on Tue, 09 Feb 2010 13:20:00.

Filed Under: Company News, Investing, Earnings, Coca-Cola Company

UBS Watches Wealthy Clients Walk as Swiss Secrecy Wobbles

Lita Epstein — 2010-02-09T16:23:00Z

Continuing pressure on UBS (UBS) from the U.S., Italy, France, Germany and the Netherlands to reveal information about its tax-evading account holders has taken a toll on the Swiss bank's holdings. With fear rising that the bank's promise of secrecy may not stand much longer, UBS's wealthy private banking clients pulled 33.2 billion francs ($31.13 billion) out of the institution in the fourth quarter of 2009. That's up from an outflow of 16.8 billion francs ($15.75 billion) in the third quarter.

Continue reading UBS Watches Wealthy Clients Walk as Swiss Secrecy Wobbles

UBS Watches Wealthy Clients Walk as Swiss Secrecy Wobbles originally appeared on DailyFinance on Tue, 09 Feb 2010 11:23:00.

Filed Under: Company News, Investing, Taxes

Exotic ETFs May Hide an Unpleasant Tax Surprise

Sheryl Nance-Nash — 2010-02-09T13:55:00Z

Exchange-traded funds are touted for their tax efficiency. It's one reason their popularity continues.

Continue reading Exotic ETFs May Hide an Unpleasant Tax Surprise

Exotic ETFs May Hide an Unpleasant Tax Surprise originally appeared on DailyFinance on Tue, 09 Feb 2010 08:55:00.

Filed Under: Investing, ETFs, Taxes

Stocks in the News: Toyota, Electronic Arts, Coca-Cola

Melly Alazraki — 2010-02-09T12:45:00Z

The following is a round-up of news likely to affect stock prices today:

Coca-Cola (KO) reported its fourth quarter earnings climbed 55% to $1.54 billion, or 66 cents a share, on 5% higher revenue of $7.51 billion as strong volume in Latin America and other parts of the world offset a decline in North America. Results were inline with estimates. Shares rose 1.8% in premarket trading.

Continue reading Stocks in the News: Toyota, Electronic Arts, Coca-Cola

Stocks in the News: Toyota, Electronic Arts, Coca-Cola originally appeared on DailyFinance on Tue, 09 Feb 2010 07:45:00.

Filed Under: Company News, Investing, Electronic Arts, Toyota, Amgen

Toyota Rises Despite Prius Recall, More Tainted Milk in China

Lauren Cooper — 2010-02-09T12:10:00Z

In Asia Tuesday, Hong Kong's Hang Seng Index added 1.2% to close at 19,970. China's Shanghai Composite Index added 0.5%, ending the day at 2,949 and in Japan, the Nikkei 225 Index fell 0.2% to 9,933.

Continue reading Toyota Rises Despite Prius Recall, More Tainted Milk in China

Toyota Rises Despite Prius Recall, More Tainted Milk in China originally appeared on DailyFinance on Tue, 09 Feb 2010 07:10:00.

Filed Under: Economy, Investing, Honda Motor Co., Toyota

Air Products' Hostile Bid for Airgas Could Be a Slugfest

Tom Taulli — 2010-02-08T15:00:00Z

With equity valuations still way off their highs from a few years ago, global companies have lots of opportunities to buy rivals as a way to boost revenues. It's also getting easier to raise financing, as seen when Kraft Foods (KFT) and Berkshire Hathaway (BRK.A) recently raised $17.5 billion in debt for acquisitions. This was the case even though the equity and debt markets were getting jitters over sovereign risk concerns.

But among the companies that are the target of these acquisitions, the sentiment is much more skeptical. Why sell at a discount? As a result, buyers may have no choice but to go hostile. This was the case with Kraft's $18.5 billion acquisition of Cadbury.

Continue reading Air Products' Hostile Bid for Airgas Could Be a Slugfest

Air Products' Hostile Bid for Airgas Could Be a Slugfest originally appeared on DailyFinance on Mon, 08 Feb 2010 10:00:00.

Filed Under: Company News, Columns, Investing, Air Products & Chemicals, Airgas

Daily Blogwatch: Just How Oversold Is This Market? Why Are Hedge Funds Buying PFE?

James Altucher — 2010-02-08T13:30:00Z

Interesting stat. The unemployment rate for the college-educated is a lot lower than the 10% unemployment rate for everyone.
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I show how to violate Warren Buffett's constitutional rights.
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NewDeal2.0 is disgusted by Moody's warning about the status of the U.S. debt and explains why.
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Continue reading Daily Blogwatch: Just How Oversold Is This Market? Why Are Hedge Funds Buying PFE?

Daily Blogwatch: Just How Oversold Is This Market? Why Are Hedge Funds Buying PFE? originally appeared on DailyFinance on Mon, 08 Feb 2010 08:30:00.

Filed Under: Company News, Economy, Investing

As Fear Returns to the Market, Can Dow 10,000 Hold?

Dan Burrows — 2010-02-08T13:30:00Z

If Dow 10,000 really is a key psychological level, then traders best call their shrinks. The major averages, already on a four-week losing streak, face anxiety over the Euroland debt debacles and the depressing reality of waning earnings momentum. In other words, brace yourself emotionally for Dow nine-thousand-and-change.

Continue reading As Fear Returns to the Market, Can Dow 10,000 Hold?

As Fear Returns to the Market, Can Dow 10,000 Hold? originally appeared on DailyFinance on Mon, 08 Feb 2010 08:30:00.

Filed Under: Investing, Earnings

Two Giant Spanish Banks Could Tumble Hard

James Cullen — 2010-02-08T13:25:00Z

Last August, an article I published on DailyFinance highlighted that something seemed amiss with two international banking giants headquartered in Spain: Banco Santander (STD) and Banco Bilbao (BBVA) were buying up foreign banks, even as conditions in their home country worsened dramatically. Instead of buckling down to face an inevitable spike in loan losses on existing business, the banks expanded their balance sheets through acquisitions and became more leveraged.

But after a string of relatively benign months for equity markets, investors have recently grown skeptical of these two companies and sent shares down sharply. Santander shares have dropped 17% since the end of August, and Banco Bilbao shares are off 26% over the same period.

Continue reading Two Giant Spanish Banks Could Tumble Hard

Two Giant Spanish Banks Could Tumble Hard originally appeared on DailyFinance on Mon, 08 Feb 2010 08:25:00.

Filed Under: Economy, Investing, Credit

Stocks in the News: CIT, Hasbro, CVS Caremark

Melly Alazraki — 2010-02-08T12:45:00Z

The following is a round-up of news likely to affect stock prices today:

CIT Group Inc. (CIT), one of the nation's largest lenders to small and mid-sized businesses, appointed former Merrill Lynch CEO John Thain as chairman and CEO. According to The Wall Street Journal, Thain will make a $500,000 base salary and receive $5.5 million in restricted stock. Thain brokered Merrill Lynch's controversial sale to Bank of America (BAC). The appointment could anger many, while others might just say it's a fitting match -- a disgraced banker who oversaw Merrill's decline and a struggling financial firm.

Continue reading Stocks in the News: CIT, Hasbro, CVS Caremark

Stocks in the News: CIT, Hasbro, CVS Caremark originally appeared on DailyFinance on Mon, 08 Feb 2010 07:45:00.

Filed Under: Company News, Investing, CIT Group, Nokia, Toyota, Walt Disney

Asian Shares Slide, Apple Co-Founder Chats up Toyota Prius

Lauren Cooper — 2010-02-08T12:10:00Z

Shares in Asia slid lower Monday. In Japan the Nikkei 225 Index tumbled 1.1% to 9,951 and in China, the Shanghai Composite Index dipped 0.1% to 2,935. In Hong Kong, the Hang Seng Index fell to a five-month low, losing 0.6% and ending the day at 19,551.

Continue reading Asian Shares Slide, Apple Co-Founder Chats up Toyota Prius

Asian Shares Slide, Apple Co-Founder Chats up Toyota Prius originally appeared on DailyFinance on Mon, 08 Feb 2010 07:10:00.

Filed Under: Economy, Investing

Should You Consider a 'Strategic Default' on Your Mortgage?

Lita Epstein — 2010-02-06T16:15:00Z

If you owned a house that's now worth a lot less than what you owe on your mortgage, would you walk away from the home and default on the mortgage? If so, you'd have plenty of company. In 2009, Reecon Advisors released a national survey indicating that nearly one out of 10 homeowners, 9.2% or 7.4 million, would likely choose to default if they were in that situation. And today, we're seeing more and more evidence that some people are beginning to do just that. They're choosing to "strategically default" on their mortgages.

Continue reading Should You Consider a 'Strategic Default' on Your Mortgage?

Should You Consider a 'Strategic Default' on Your Mortgage? originally appeared on DailyFinance on Sat, 06 Feb 2010 11:15:00.

Filed Under: Investing, Real Estate

Why Major Change in Fed's Interest Rate Policy Would Be Worrisome

Lita Epstein — 2010-02-06T13:00:00Z

Prior to the Federal Open Market Committee meeting in January, there was speculation about whether the Fed's monetary-policy arm would announce a shift in the benchmark rate away from the overnight rate it charges banks, to the interest paid on bank reserves. Economists at Bank of America (BAC) joined the speculation that the Fed may start pointing to the rate paid on reserves as its primary monetary-policy tool. While this might seem like inside-baseball for most Americans, the change could result in higher interest rates for your business or consumers loans and especially most credit cards that are now variable and reset based on the ups and downs of the prime rate.

Continue reading Why Major Change in Fed's Interest Rate Policy Would Be Worrisome

Why Major Change in Fed's Interest Rate Policy Would Be Worrisome originally appeared on DailyFinance on Sat, 06 Feb 2010 08:00:00.

Filed Under: Economy, People, Investing, Bank of America

Dollar Rallies, Stocks Struggle. Is the Flight to Safety Back On?

Dan Burrows — 2010-02-05T19:45:00Z

Dow 10,000 lives, at least for another trading day. But before we shed a tear peeling the onion of the decidedly mixed data that was Friday's unemployment report, let's count our blessings U.S. equity markets are holding up as well as they are. The jobs numbers might be grabbing the headlines, but the real news is the euro has caught swine flu. That's why the dollar is rising -- and stocks are struggling.

Continue reading Dollar Rallies, Stocks Struggle. Is the Flight to Safety Back On?

Dollar Rallies, Stocks Struggle. Is the Flight to Safety Back On? originally appeared on DailyFinance on Fri, 05 Feb 2010 14:45:00.

Filed Under: Economy, Investing

Just How Risky Is MetLife's Bid for AIG's ALICO Unit?

Matthew Scott — 2010-02-05T19:30:00Z

MetLife's (MET) shares got knocked down nearly 4% on Wednesday, thanks to a Standard & Poor's credit warning, and they're still fighting to shake off the negative affects. S&P is concerned about MetLife's potential acquisition of the American Life Insurance Co. (ALICO) unit of bailed-out insurer AIG. However, upgrades of the stock on Thursday and Friday from two investment banking firms that seem to endorse the deal may highlight a difference of opinion in the investment community about the acceptable level of risk involved in the insurance giant's proposed merger.

Continue reading Just How Risky Is MetLife's Bid for AIG's ALICO Unit?

Just How Risky Is MetLife's Bid for AIG's ALICO Unit? originally appeared on DailyFinance on Fri, 05 Feb 2010 14:30:00.

Filed Under: Company News, Investing, Insurance, MetLife

Inside Wall Street: Don't Expect Barnes & Noble's Pop to Last

Gene Marcial — 2010-02-05T13:30:00Z

Thanks to a surprise move by activist investor Ron Burkle, shares of Barnes & Noble (BKS) had an unusually exciting day on Tuesday Feb. 2, running up to as high as $21 a share from the previous day's closing price of $18. But don't be fooled. The upswing isn't likely to last long, warn some pros.

In spite of the flurry, Wall Street remains unattracted to Barnes & Noble. Of the seven major analysts who follow the largest U.S. bookseller, none recommend buying the stock: Four are neutral and three advise selling it. Among those rating the stock a sell or underperform are Standard & Poor's, whose 12-month target price is $18; Goldman Sachs with a $17 target; and Credit Suisse with a $16 target. The stock closed on Feb. 4 at $18.89 a share.

Continue reading Inside Wall Street: Don't Expect Barnes & Noble's Pop to Last

Inside Wall Street: Don't Expect Barnes & Noble's Pop to Last originally appeared on DailyFinance on Fri, 05 Feb 2010 08:30:00.

Filed Under: Company News, Columns, Investing, Apple, Amazon.com Inc., Barnes & Noble

Stocks in the News: Aetna, Beazer Homes, Tyson Foods

Melly Alazraki — 2010-02-05T12:50:00Z

The following is a round-up of news likely to affect stock prices today:

Aetna (AET) said Friday its fourth-quarter profit fell 15% to $165.9 million, or 38 cents per share, as it continued to struggle with pricing problems and rising medical costs that plagued it in previous quarters. Excluding one-time items, it earned 40 cents per share. Revenue rose 13% to $8.76 billion. Earnings were 2 pennies short of estimates, but revenue topped expectations.

Continue reading Stocks in the News: Aetna, Beazer Homes, Tyson Foods

Stocks in the News: Aetna, Beazer Homes, Tyson Foods originally appeared on DailyFinance on Fri, 05 Feb 2010 07:50:00.

Filed Under: Company News, Investing, Ford Motor Co., Motorola, Toyota

Daily Blogwatch: Why Google Is Bad for Newspapers, a Soccer Hedge Fund, and the Benefits of Failure

James Altucher — 2010-02-05T12:00:00Z

Below are some of the best reads for investors from around the Web:

Old School Value finds a deep value stock trading below its net asset value.
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Harry Potter author J.K. Rowling talks about a topic dear to my heart -- the fringe benefits of failure.
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Interesting analysis by Crossing Wall Street about the best seven days of the month to hold stocks.
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Continue reading Daily Blogwatch: Why Google Is Bad for Newspapers, a Soccer Hedge Fund, and the Benefits of Failure

Daily Blogwatch: Why Google Is Bad for Newspapers, a Soccer Hedge Fund, and the Benefits of Failure originally appeared on DailyFinance on Fri, 05 Feb 2010 07:00:00.

Filed Under: Company News, Columns, Investing