The energy sector saw a lot of activity from short sellers in April, but other stocks saw some action as well. We’ve already covered some of the bigger names here and some of the…
FedEx Corp. (NYSE: FDX) announced this morning that it has signed an agreement to acquire French express transportation company TATEX. The acquisition is subject to regulatory approvals and no details were given on the…
German chancellor Angela Merkel has made it abundantly clear that Germany has no interest in renegotiating the austerity plan that the Eurozone agreed to with Greece. And while it may seem that her position…
Cosmetics maker Coty Inc. has today raised its offer for Avon Products Inc. (NYSE: AVP) to $24.75/share, up another $1.50/share from its original offer. In a letter to the Avon board, Coty’s CEO notes…
In the May version of OPEC’s monthly Oil Market Report, the cartel keeps its previously forecast global demand total for 2012 at just under 89 million barrels/day. Demand is growing in Japan where the…
Gold for June delivery closed down 0.6% today, at $1,594.20/ounce on Comex, the lowest settlement price since December 30. Traders are reacting to two things: a strengthening U.S. dollar and an even more uncertain…
After the market closed today, Cisco Systems Inc. (NASDAQ: CSCO) reported fiscal third-quarter results that were barely better than in-line with the consensus estimates. Sales totaled $11.6 billion, up 7% year-over-year and above the…
The major US stock indexes opened sharply lower again this morning as investors consider Greece’s commitment to the austerity measures it had previously agreed to. Renegotiating the deal seems out of the question (more…
In a filing yesterday with the Securities and Exchange Commission, oil refiner Valero Energy Corp. (NYSE: VLO) said that it has accepted an offer of $350 million plus working capital for its 235,000-barrel/day Aruba…
Shares of MetroPCS Communications Inc. (NYSE: PCS) and Leap Wireless International Inc. (NASDAQ: LEAP) are shooting up today following a report at Bloomberg News that German phone company Deutsche Telekom AG (OTC: DTEGY.PK) is…
Some Eurozone officials are reported to be considering delaying tomorrow’s scheduled €5.2 billion payment to Greece that is part of the €130 billion bailout package sealed by the EU, the IMF, and Greece in…
Faced with considerable consumer and political pressure to review its plan to close hundreds of the country’s smallest post offices, the US Postal Service announced today that it would propose a new plan to…
When Verizon Wireless made its initial $3.6 billion offer to acquire wireless spectrum from SpectrumCo LLC, most observers didn’t think the deal would run into any opposition. Which only goes to show that most…
The US Energy Information Administration (EIA) released its weekly petroleum status report this morning. US commercial crude inventories increased by 3.7 million barrels last week, bringing the total US commercial crude inventory to 379.5…
For the second time in two months, MarkWest Energy Partners L.P. (NYSE: MWE) has launched a secondary offering of common units to support the company’s expansion plans. In March, MarkWest sold 6.8 million common…
In its latest quarterly survey of how confident CEOs are in the global economy, the Young President’s Organization (YPO) reports that US CEOs’ level of confidence rose to 65.1, the highest level since the…
Macy’s Inc. (NYSE: M) reported first quarter results this morning that beat estimates on both EPS and revenues. The soft spot was the company’s guidance, and that is taking the stock down sharply in…
Getting any respect in the fertilizer business has been pretty tough so far this year. We’ll have to wait about an hour or so this morning to see if Agrium Corp. (NYSE: AGU) can…
Shares of Avon Products Inc. (NYSE: AVP) have closed lower each of the last three days following the company’s extremely weak first quarter results. The door-to-door cosmetics firm took another couple of shots today…
The yield on 10-year Spanish bonds rose above 6% this morning in reaction to the turmoil in Greece and fears that it would spread to Spain. The differential between Spanish bonds and German bunds…