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Market Updates: Citigroup (C), J.P. Morgan Chase (JPM), Monsanto (MON), US Airways (LCC)
Citigroup Inc. (NYSE: C) analyst Jason Bazinet, stated that a deal between Comcast and Time Warner would give the combination 37 percent of the pay TV market plus offer about $2.7 billion in cost savings. Shares of both companies would likely trade higher on a potential announcement. This prediction comes on the heels of a court case that struck down a rule limiting cable companies to no more than 30 percent of the U.S. pay TV market. -Reuters
J.P. Morgan Chase (NYSE: JPM) upgraded UAL Corp. (NASDAQ: UAUA) to overweight from underweight and US Airways (NYSE: LCC) to neutral from underweight, stating that air passenger…
Monsanto (MON) Focuses on Growth, DuPont (DD) Draws Attention From Regulators
Monsanto Corp. (NYSE: MON), the world’s largest seed maker, says it’s on track to more than double its 2007 profit by the year 2012 and is expecting a “technology explosion” to provide even stronger products going forward. But while Monsanto continues to build on its reputation as a cutting edge agricultural business, it is also under siege by competitors and advocacy groups who claim the company is a monopoly.
The St. Louis-based Monsanto said in June that its fiscal third-quarter earnings fell to $694 million, or $1.25 a share, from $811 million, or $1.45 a share, in the same period a…
21Aug2009 | Money Morning | 0 comments | ContinuedMarket Updates: Apple (AAPL), Monsanto (MON), Berkshire Hathaway (BRK.A, BRK.B)
Fed Holds Funds Rate; Buffett: U.S. May Need More Stimulus; Jobs’ Liver Transplant Confirmed; Fewer Americans Traveling on 4th Despite Lower Gas Prices; Monsanto Profits Drop 14%; SEC Proposes New Rules for Money Market Funds; Recession Yields Fewer Millionaires
- The U.S. Federal Reserve has opted to hold the federal funds rate at 0% to .25% and “continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period,” the central bank said in a statement yesterday (Wednesday). Information the Fed received since its last meeting in April suggests “the pace of economic…
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