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Market Updates: Bank of America (BAC), Google (GOOG), General Mills (GIS), JPMorgan (JPM)
JPMorgan Chase & Co. (NYSE: JPM) stated on today that it was eliminating some overdraft fees altogether and trimming others, after Bank of America Corp. (NYSE: BAC) announced a similar move on yesterday. The changes follow U.S. congressional leaders’ criticism of bank account fees and come as the banks digest rule changes for credit card fees. JPMorgan reported that it made the changes, which include removing overdraft fees if a customer account is $5 or less overdrawn, in an effort to assist its 25 million debit card customers amid the recession and rising U.S. unemployment. -Reuters
Government bonds fell after a surprise rebound…
23Sep2009 | Jutia Group | 0 comments | ContinuedOnline Media Investing: Four Ways To Play
Traditional media has been in upheaval for over a decade. The shift of advertising dollars from print to online is continuing to affect newspapers, magazines, yellow pages, and more. The Wall Street Journal blames the slowdown in online advertising growth on the economy, not underlying factors in their business model. If Fed Chairman Ben Bernanke is right about the U.S. pulling out of recession, we should see an uptick in online media growth. Here are a few ideas to to play the potential resurgence.
Back in July we discussed a new search engine: Bing. The brainchild of Microsoft (MSFT), Bing is actually a…
22Sep2009 | Invest With An Edge | 0 comments | ContinuedMarket Updates: Merck (MRK), Google (GOOG), Baidu (BIDU), Walt Disney (DIS)
-Shares of the online financial services provider E-Trade Financial Corp. (NASDAQ: ETFC ) were up more than 9% to $1.79 in recent trades. Citadel Investment Group LLC’s plan to sell off up to 120 million shares of E-Trade had been set to start Monday, but the hedge fund canceled the plan, saying such a move was in the best interest of E-Trade and its shareholders. See full story.
Merck & Co Inc. (NYSE: MRK) announced plans on Monday for a reorganization once its acquisition of Schering-Plough Corp (NYSE: SGP) closes later this year, including naming leaders for five main divisions (global human health, animal health,…
31Aug2009 | Jutia Group | 1 comment | ContinuedMarket Updates: Boeing (BA), Dollar Tree (DLTR), Vonage Holdings (VG), Google (GOOG)
New Home Sales Rise 9.6%; Homebuilders Buying Lots Again; Thrifts Report First Profit Since 2007; Air Berlin May Cancel 787 Order; German Confidence Increases; Beer Prices Rise; Dollar Tree Beats Wall Street Estimates; Vonage Stock Soars
- The U.S. Commerce Department said yesterday (Wednesday) new home sales surged 9.6% to a seasonally adjusted annual rate of 433,000 in July over the previous month, demonstrating the housing market is slowly making progress. The median sales price was $210,000, down slightly from June’s $210,400 and a decline of 11.5% from year-ago levels. Since the market’s bottom in January, sales have gained 30%. Still, sales…
Market Updates: Kraft Foods (KFT), Ford Motor (F), CIT Group (CIT), Google (GOOG)
Initial Jobless Claims Climb, Continuing Claims Fall; Food Industry Looking to Ease Sugar Imports; Ford to Boost Production Thanks to Cash for Clunkers; Volkswagen Board Approves Merger With Porsche; Fed Demands Plan From CIT; China Backs Off Anti-Porn Software For New Computers; Oil Stays Above $70
- Initial jobless claims rose by to 558,000 for the week ended August 8, up 4,000 from the previous week’s revised figure of 554,000, the Labor Department said yesterday. Continuing claims for the week ended August 1 dropped 141,000 to settle in at 6.20 million, down from the preceding week’s revised 6.34 million. "The good news is…
Market Updates: Google (GOOG), Bank of America (BAC), HSBC Holdings (HBC)
Nasdaq, S&P 500 Pass Key Milestones; BofA Settles with Government Over Merrill Bonuses; U.S. PMI Closer to Growth; Treasuries Fall on Manufacturing, Construction Data; Oil Eclipses $70; Google CEO Resigns From Apple Board; HSBC Profit Halved
- The Standard & Poor’s 500 Index broke 1,000 and the Nasdaq Composite Index climbed past 2,000 as stocks were boosted from positive news on U.S. manufacturing and auto sales. The S&P 500 closed at 1,002.63, up 15.15 points or 1.5%, and the Nasdaq saw an increase of 30.11, or 1.5% to close at 2,008.61. While it didn’t hit a key milestone, The Dow Jones Industrial Average also increased, gaining 114.95 points, or…
Can the Yahoo (YHOO) and Microsoft (MSFT) Deal Match Up Against Google (GOOG)?
After months of negotiations, Yahoo Inc. (Nasdaq: YHOO) and Microsoft Corp. (Nasdaq: MSFT) finally formed a search partnership, which could give Microsoft’s newly launched Bing the lift it needs to compete with market leader Google Inc. (Nasdaq: GOOG).
“The reason the deal happened now is the recent success of Bing,” Gartner Inc. (NYSE: IT) analyst Neil MacDonald told The Associated Press. “I think it put pressure on Yahoo, as well as Yahoo not being able to turn around on its own.”
Bing will more than triple its current market share if the deal gets the nod from regulators.
Bing, which as of June held an 8.4%…
29Jul2009 | Money Morning | 1 comment | ContinuedMarket Updates: Google (GOOG), Microsoft (MSFT), Bank of America (BAC)
Google Revenues, Profits Rise; IBM’s Bumps Margins; Foreclosures Up as Well as Single-Family Homebuilder Confidence; Initial Unemployment Claims Fall to Lowest Level Since January; Sun Shareholders Approve Oracle Merger;
- Google Inc. (Nasdaq: GOOG) saw its revenue grow 3% in its second quarter, which ended on June 30. The Internet search giant reported a net income of $1.4 billion, or $4.66 per diluted share on revenue of $5.5 billion. That compares to a net income of $1.2 billion, or $3.92 per diluted share on revenue of $5.3 billion in the same quarter last year. "These results highlight the enduring strength of our…
Market Update: Google (GOOG), Microsoft (MSFT), Yahoo! (YHOO), Bank of America (BAC)
Tech Bulls Boost Markets; Crude Tops $60 a Barrel; Bing Takes Bite Out of Yahoo, But Not Google; Weatherization Funds Cause Concern About Fraud; Paulson Defends BofA/Merrill Deal; U.S. Weighs in On China’s Spy Game; Microsoft Stores: Next to An Apple Store Near You
- Tech stocks spurred a rally among U.S. markets yesterday (Wednesday), as by Intel Corp.’s (Nasdaq: INTC) earnings exceeding of Wall Street expectations. All three major indices rose: The Dow Jones Industrial Average was up 3.07% to close at 8,616.21, the Standard & Poor’s 500 was up 2.96%, closing at 932.68, while the tech-laden Nasdaq Composite was up 3.51%, closing at…
Google (GOOG) and Microsoft (MSFT) Operating System Competition Heats Up
Google Inc. (Nasdaq: GOOG), not satisfied owning the search engine market, yesterday (Wednesday) revealed it is going to assault Microsoft Corp. (Nasdaq: MSFT) on the turf it has dominated for two decades: the operating system (OS).
In a blog posting, the Mountain View, Calif.-based company introduced the Google Chrome Operating System, which shares the same name as the web browser it introduced in September. Google expects the OS to be available in the second half of 2010, and it initially will run on netbooks, or low-cost laptops designed for Internet access. The company is working with multiple manufacturers such as Acer Inc.,…
10Jul2009 | Money Morning | 0 comments | Continued
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