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Market Updates: Citigroup (C), Intel (INTC), Apple (AAPL), Bank of America (BAC)
Canada’s Brookfield Asset Management said on Wednesday that it was setting up a $400 million fund to invest in Colombian infrastructure, joining a wave of foreign investors entering the Andean nation. -Reuters
Economic activity is stabilizing or improving in the vast majority of the country, according to a government survey released Wednesday. The findings indicate that the worst recession since the 1930s may be over. In the new survey, all but one of the Fed’s 12 regions indicated that economic activity was "stable," showed "signs of stabilization" or had "firmed." The one exception was the St. Louis region, which continued to…
9Sep2009 | Jutia Group | 0 comments | ContinuedMarket Updates: Intel (INTC), Marvell Technology (MRVL), J. Crew (JCG), Citigroup (C)
Intel Corp. (NASDAQ: INTC) has raised its outlook for Q3 revenue on Friday, citing stronger-than-expected demand for its microprocessors and chipsets. This news sent its shares up by more than 2 percent. Intel now sees Q3 revenue ranging from $8.8 billion to $9.2 billion. – Reuters
Marvell Technology Group Ltd. (NASDAQ: MRVL) reported lower Q2 profit, as the company reeled from a big drop in sales as the chip industry struggled through the technology downturn. However, the company issued a better-than-expected sales forecast and shares leaped more than 6% in after-hours trading. –Marketwatch
Consumer spending in the U.S. rose last month in July as…
28Aug2009 | Jutia Group | 1 comment | ContinuedMarket Update: Intel (INTC), Yum Brands (YUM), Wells Fargo (WFC)
Retail Sales Rise; Eurozone Output Up; Intel Posts Loss, Lower Sales; KFC/Pizza Hut Parent Sees Profit Rise; Layoffs Ground US Airways; Continental Records $44 Million Charge; Wells Fargo Sells $600 Million in Bad Mortgages?
- Higher gas prices and heavy discounts at automakers led to a rise in retail sales in June – the second straight month of gains, the government reported. The Commerce Department said total retail sales rose 0.6% last month, compared with May’s gain of 0.5%. The report showed auto sales rose 2.3% in June while gasoline station sales jumped 5% in the month.
- Industrial production in the 16-nation Eurozone…
Market Update: Bank of America (BAC), Freddie Mac (FRE), Intel (INTC), Sony (SNE), Boeing (BA), Rio Tinto (RTP), Goldman Sachs Group (GS)
Countrywide’s Mozilo Charged with Fraud; Mortgage Rates Hit 6-Month High; Intel Gets Foothold in Wireless; UAL Looking to Jettison 747; Rio May Sell $15 Billion in Stock After Chincalco Deal Fails; Oil Prices Jump 5%; Allison: Banks Need $100 Billion Cushion; Retail Sales Plunge
- The Securities and Exchange Commission yesterday (Thursday) filed fraud charges against former Countrywide Chief Executive Officer Angelo Mozilo. The charges may involve Mozilo’s sale of shares of giant mortgage lender Countrywide, which last year was sold to Bank of America Corp. (NYSE: BAC) CNNMoney reported. "We do not believe there is any fair basis for allegations to be…
Market News: Staples (SPLS) and Intel (INTC)
Existing Home Sales Up 2.9%; Malaysia’s Economy Shrinks 6.2%; Staples Beats Estimates; U.K. Millionaires Halved by Financial Crisis; Treasury Yield Spread Hits Record High; Intel Won’t Cut Dividend After Euro Fine; Moody’s: U.S. Aaa Credit Rating Stable; Oil Surges to Six-Month High
- Existing home sales in the United States ticked up 2.9% in April, according to the National Association of Realtors. The report suggests the housing glut is turning around, but from the bottom up. “Most of the sales are taking place in lower price ranges and activity is beginning to pick-up in the mid-price ranges, but high-end home sales remain…
Market News: General Motors (GM), Ford (F), Intel (INTC), American International Group (AIG)
Intel Dealt $1.45 Billion Fine; WSJ: Gov’t Wants Financial Sector Pay Overhaul; Verizon Divests Access Lines for Stock; AIG Says 5 Years to Pay Back Gov’t; Foreclosures Jump to Record High; Geithner: Small Banks to Get TARP Funds; Auto Dealers Get The Axe; Ford Raises $1.4 Billion From Stock Sale
- European Union legislators smacked Intel Corp. (NASDAQ: INTC) with a record 1.06 billion euro ($1.45 billion) fine for using illegal rebates to push competition out of the market. The verdict and fine is the culmination of an eight-year investigation on the tech titan, Bloomberg reported.
- The Obama administration is talking about changing compensation practices…
Market News: AstraZeneca (AZN), Intel (INTC), General Motors (GM), Microsoft (MSFT) and much more
Krugman: U.S. in Danger of Lost Decade; Trichet Sees First Signs of Recovery; Plavix Could Have Serious Competitor; Intel Could Face Record Antitrust Fine; GM Open to Leaving Detroit; Microsoft in First Bond Offering; Dish Network Beats Expectations; Nortel Blows a FuseÂ
- Nobel Prize-winning economist Paul Krugman said the United States needs to take aggressive economy-stimulating action or risk facing a lost decade of growth a la Japan in the 1990s. “We’re doing half-measures that help the economy limp along without fully recovering, and we’re having measures that help the banks survive without really thriving,†Krugman told reporters in Beijing, Reuters reported. “We’re…
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