Herbalife Shares Halted, Auditing Firm Resigns
Courtesy Herbalife Ltd.Shares of Herbalife Ltd. (NYSE: HLF) were halted this morning pending a news release. When the news actually hit — The New York Times DealBook blog reported it first — it took…
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Paul Ausick
Earthquake Strikes Iran
ThinkstockThe U.S. Geological Survey is reporting a magnitude 6.3 earthquake about 89 kilometers southeast of the Iranian city of Bushehr, the site of that country’s main nuclear energy development effort. There is no other…
The Most Popular Mobile Apps in the World
courtesy of SamsungWith more than a billion smartphones in use around the world, it is entertaining, if not instructive, to look at what those phones are used for. Would you be surprised to find…
Small Business Confidence Index Falls for First Time in Four Months
ThinkstockThe National Federation of Independent Business (NFIB) this morning reported a decline of 1.3 points in its small business optimism index, from 90.8 in February to 89.5 in March. The NFIB noted that the…
Sugar-for-Ethanol Purchase Now One Step Closer
ThinkstockThe U.S. Department of Agriculture has sent a proposal to President Obama spelling out the details of a sale of as much as 400,000 tons of surplus sugar to U.S. ethanol makers. Sugar prices…
Market Close: Big Winners & Losers for April 8, 2013 (LUFK, JKS, MGT, PRMW, SUTR, GAI, BVA, CCUR, SABA, MNGA)
thinkstockHere are today’s five biggest gaining stocks at closing: Lufkin Industries Inc. (NASDAQ: LUFK) is up 37.6% at $87.96. JinkoSolar Holding Company Ltd. (NYSE: JKS) is up 20.5% at $5.00. MGT Capital Investments Inc.…
24/7 Wall St. Closing Bell — April 8, 2013: Markets Recover from Early Losses to Close Higher (JNJ, VALE, LLL, RBCN, MTN, AA, AMD, MSFT, WFT, MTG, LUFK, GE)
U.S. equity markets opened lower this morning but all three major indexes managed to pull off small gain by the end of the trading session. In Asia, Japan’s 10-year bond futures are up sharply…
If You Can’t Win in Court, Take Your Broadcast Network to Cable
ThinkstockBroadcast TV networks have failed twice to get the courts to stop a start-up called Aereo Inc. from capturing the networks’ broadcast signal on an antenna leased to a subscriber and then piping a…
Looking Ahead to March Retail Sales Reports
Many retailers will be reporting March same-store sales later this week, and the outlook is not pretty. According to research firm Retail Metrics, same-store sales will rise just 1.6% year-over-year in March. Cold weather…
The Housing Recovery According to Fannie Mae
ThinkstockThe pick-up in house prices continues offer encouragement to Americans that it will continue according a recent survey by Fannie Mae. The results appear to contradict a survey released last week by the MacArthur…
Speculators Pulling Out of Commodities
ThinkstockRising stockpiles of virtually every commodity had led to a sharp drop in long-dated noncommercial (speculative) futures. Slowing growth in the United States and elsewhere is getting the blame for the 31% drop in…
Hedge Fund Claims Success in Board Fight at Agrium
thinkstockJana Partners said this morning that it “appears” as if two of its candidates have been elected to the board of directors of fertilizer maker Agrium Inc. (NYSE: AGU). Jana, a U.S. hedge fund,…
Bird Flu Outbreak Threatens Yum! Brands
courtesy of KFCShares of Yum! Brands Inc. (NYSE: YUM) plunged this morning following a downgrade on the company’s shares from analysts at UBS. The company already had forecast a weaker first half of 2013…
UPS Wants Clarification of EU Decision to Block TNT Express Deal
Courtesy United Parcel Service Inc.In late January, United Parcel Service Inc. (NYSE: UPS) said it was giving up on its $6.7 billion bid to acquire Dutch-based TNT Express N.V. following the European Union’s rejection…
Chinese Economists Say Japan Launching a New Currency War
ThinkstockNow that the Bank of Japan (BOJ) has begun its monthly purchases of more than $70 billion in assets, the country has come under increasing criticism for starting a new currency war. A particularly…
J.C. Penney, Macy’s Head Back to Court
courtesy J.C. Penney Co. Inc.Retailers J.C. Penney Co. Inc. (NYSE: JCP) and Macy’s Inc. (NYSE: M) are expected to resume their courtroom battle today following a month-long, court-ordered mediation period that apparently failed to…
Market Close: Big Winners & Losers for April 5, 2013 (BCRX, ISSC, AQQ, NIHD, BVA, RIGL, RDWR, ANCX, FFIV, ZGNX)
thinkstockHere are today’s five biggest gaining stocks at closing: BioCryst Pharmaceuticals Inc. (NASDAQ: BCRX) is up 28.8% at $1.70. Innovative Solutions and Support Inc. (NASDAQ: ISSC) is up 27.2% at $7.02. American Spectrum Realty…
24/7 Wall St. Closing Bell — April 5, 2013: Markets Slammed by Jobs Report (KMB, JPM, FB, CMCSA, NWSA, FFIV, AA, CX, CSCO, JCP, ZNGA)
U.S. equity markets opened lower this morning and then fell even more following the U.S. non-farm payroll and unemployment report (more coverage here). Outside the U.S., little data came out. German factory orders rose…
BP Rebuffed Again on Spill Claims
courtesy of BP plcThe April 2010 well blowout in the Gulf of Mexico that took 11 lives and dumped 5 million barrels of crude in the Gulf of Mexico will cost BP plc (NYSE:…
EPA Settles Complaint Against Tyson Foods
ThinkstockThe U.S. Environmental Protection Agency (EPA) today announced a consent decree in a complaint against Tyson Foods Inc. (NYSE: TSN) related to multiple releases of anhydrous ammonia at 23 Tyson facilities in 4 states.…