The expected recovery of the American car business was supposed to be based on huge cost cuts at all three domestic companies and improved product lines based largely on a desire among US drivers…
GE (GE) won’t sell its NBC Universal division, at least not at the price levels that are being rumored. It is unlikely that in the current economic environment that GE could get more than…
The IMF upgraded its estimates for 2010 GDP growth in almost every country and region in the world based on its belief that the recession is receding rapidly into the past. Among the more interesting…
Cisco (CSCO) continues to buy companies at a rapid-fire pace. It added video infrastructure and transport company Tandberg to its video hardware and software portfolio, paying $3 billion in cash for the firm.
Reuters: Ken Lewis will step down as CEO of Bank of America (BAC) Reuters: Cisco (CSCO) bought Tandbeg for $3 billion. Reuters: The IMF raised forecasts for US GDP but warned on its growing…
Markets in Asia were mixed with China closed for a holiday. The Nikkei was off 1.5% to 9,977. Mitsubishi UFJ (MYU) fell further. At the open in Europe, the FTSE was up .1% to…
It was a surprise when Ken Lewis, the CEO of Bank of America (BAC), finally resigned. Neither shame nor pressure could move him out of his corner office. He was replaced as the bank’s…
CNBC is reporting that Bank of America (BAC) CEO Ken Lewis will step down by the end of the year. There have been a number of reports in the past that he would leave…
Jabil Circuit (NYSE: JBL) hit a yearly high of $13.47 after beating both guidance and analyst estimates for its quarterly earnings. Kohl’s Corporation (NYSE: KSS) hit a yearly high of $57.19 after the company…
The US Department of Energy’s Energy Information Administration has released its weekly status report on crude oil inventories, and once again they are higher, this time by 2.8 million barrels. Gasoline inventories are down…
The FDIC has discussed the idea of banks prepaying their risk-based assessments for the last quarter of this year and all of 2010, 2011, and 2012. The move appears desperate because it is. The…
Chinese solar PV maker Trina Solar Ltd. (TSL) has announced a five-year contract extension with another Chinese company that produces polysilicon and solar wafers. Trina plans to use the materials to produce about 8,500…
It appeared that traders were prepared to accept the theory of a “jobless recovery” early in the session. The Commerce Department said that GDP dropped only .7% in the second quarter compared to an…
CIT Group, Inc. (NYSE: CIT) is back to looking like its shares the paper they are printed on could be less valuable and less useful than toilet paper. What is surprising is that this…
Updated throughout the day. Update: The rapidly falling dollar is causing Asian importers of small cars to lose money on most vehicles and will force European luxury auto companies to raise prices giving American…
Volume Spike Investor is watching some stocks which should move at the open. These include Johnson & Johnson (JNJ) (details), CIT (CIT) (details), Hoku Scientific (HOKU) (details), China-Biotics (CHBT), and and TerreStar Networks (TSTR) (details).…
A devilishly clever new Trojan horse that works over the Internet can hack into bank accounts while people are online and take money without being noticed. According to CNET, “The bank Trojan, dubbed URLzone, has…
The US markets will be up over 15% for the third quarter barring any wild swings up or down in the last day of the period. It is an extraordinary performance since the three…
Many American businesses believe that the UK and EU over-regulate the activities of companies based in those regions. Antitrust laws have been described as particularly overbearing. The times does come, once in a while,…
Sequenom Inc. (NASDAQ: SQNM) is becoming a case study on how to run a medical testing products company into the ground. The diagnostic test maker has more problems other than just the announcement that…