Icahn Can Just Say No at Lions Gate
Carl Icahn didn’t get what he wanted in his $7/share tender offer for Lions Gate Entertainment Inc. (NYSE: LGF), but he got enough. Icahn’s extended offer period ended June 30th with the billionaire investor…
All Work
Douglas A. McIntyre
Today’s Best Market (7/2/1010)
Updated throughout the day. The Toyota (NYSE: TM) recalls of 270,000 cars will cost $228 million. (Reuters) Sanofi-Aventis SA is considering large acquisitions in the US (Bloomberg) Lionsgate has set a poison pill to…
The Twitter-24/7 Wall St. Stock Market Report 7.2.2010 The Wisdom Of Crowds
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
June Unemployment: A Spectre Of A New Recession
The ghost of recessions past returned as the US moved into the same funk that it experience in 1982 and 1983 when joblessness was above 9.5% for nearly a year and a half. Total…
Apple To Become No. 2 VOD Company In US
Apple Inc (NASDAQ: AAPL) is about to become the No. 2 provider of VOD services in the US based on the success of video content sales and rentals from the iTunes store. Research firm…
GM China Sales Top US For First Time
China is now the largest car market in the world, having moved ahead of the US last year. Most analysts believe that 16 million cars and light trucks will be sold in the People’s…
Video Game Sales Drop Moderates In May, Holidays Critical
Game and game console sales have been extremely weak for a year-and-a-half as the recession sapped demand for consumer electronic devices. This has not been offset by price cuts for the Sony (NYSE: SNE)…
Walt Disney, Jobs On Its Board, Buys iPhone App Company
Steve Jobs, the CEO of Apple Inc. (NASDAQ: AAPL), sits on the board of The Walt Disney Company (NYSE: DIS) That means the entertainment company is well aware of the power of Apple’s applications…
GE’s Immelt Attacks China And Obama, Company Disavows Comments
GE (NYSE: GE) CEO Jeff Immelt, speaking at a business gathering in Italy savaged China and President Obama. In an unusual move, GE said that Immelt’s comments did not reflect the views of the…
Media Digest 7/2/2010
Reuters: Maria Cantwell (D-WA) will support the Senate financial reform bill, giving Democrats a boost. Reuters: Automakers had a setback in June, an indication that the industry is facing slow growth. Reuters: The House…
Google To Buy ITA Software, Rule E-commerce Travel Business: Watch For Justice Department Review
Google Inc. (NASDAQ: GOOG) will try to dominate the online e-commerce travel market the way it has come to dominate cellphone operating systems with its Android product. In other words, it is impossible to…
China Kicks Off Hunt for Shale Gas
Sinopec, officially China Petroleum & Chemical Corp. (NYSE:SNP), has initiated a program to evaluate shale gas deposits in the southern part of the country. Estimates of the size of the potential resource are about…
Commodity Shipping Continues Declining (DRYS, GNK, DSX, SEA, FRO, TK)
The Baltic Dry Index, which tracks global shipping rates, has fallen for 24 consecutive days, its longest losing streak since August 2005. The BDI closed at 2,406 yesterday, its lowest point since last October.…
Mortgage Rates Hit All-Time Low, Buyers Remain Uninterested
Interest rates on 30-year, 15-year, and 5-year mortgages hit all-time lows, which has done nothing to simulate the real estate market. There is no end in sight to the buyer’s strike. Pending sales of…
US Treasury Dumping Citigroup Shares, Says Sale Will Be Orderly
The US Treasury, bound and determined to get bank every dime it loaned the banking industry during the credit crisis, will sell more Citigroup (NYSE: C) shares. The bank’s stock actually rose 1% on…
Unemployment: Another Nail In The Coffin
The Labor Department announced the most recent statistics on jobless claims. The figures confirm information from ADP and Challenger Gray. They also foreshadow weak unemployment data for June “In the week ending June 26,…
Today’s Best Market Rumors (7/1/2010)
Updated throughout the day. Robert Benmosche, CEO of American International Group (NYSE: AIG) threatened to resign, again. (Bloomberg) Morgan Stanley Group (NYSE: MS) will hire 100 new private bankers (NY Times) Douglas A. McIntyre
The Twitter-24/7 Wall St. Stock Market Report 7.1.2010 The Wisdom Of Crowds
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
Oil Races Back Toward $65
The Gulf oil leak and Hurricane Alex are not moving up crude prices. In fact, the price of oil is back below $75 .Oil dropped into the $65 range last September as demand slackened…
Amazon.com Drops Kindle Price, The E-Reader Wars
Amazon.com has already dropped the price of its basic Kindle e-reader by $70 to $189. The moved followed a price cut of Barnes & Noble’s (NYSE: BKS) Nook from $199 to $149 and a…