After years of speculation, Porsche has become the controlling shareholder in VW. The news seems counterintuitive because VW is by far the larger company, but Porsche’s ownership dates back years to when it took…
Hank Paulson and Ben Bernanke proved that they were not anarchists, willing to risk the financial system burning itself into a pile of ashes. Zeus-like, the Fed will bail out AIG (AIG) at the…
The Fed rescued AIG (AIG), loaning the company $85 billion for two years in exchange for a 79.9% interest in the company. After allowing Lehman (LEH) to fail, the new arrangement with AIG raises…
According to Reuters, the federal government bailed out AIG (AIG) The Fed will loan the insurance company $85 billion for two years in exchange for a 79.9% stake. Reuters says that Barclays (BCS) bought…
Markets in Asia were mixed The Nikkei rose 1.2% to 11,750. Mitsubishi UFJ Financial moved up in reaction to the Fed’s bailout of AIG. (AIG) The Hang Seng fell 2.2% to 17,899. China Life…
No one could quite get to the crash victim, and now it seems certain AIG (AIG) will not make it out of the wreck. After staging a rally during the day, AIG’s shares closed…
SanDisk Corporation (NASDAQ: SNDK) has received a $26 buyout offer from Samsung, and shares are soaring after the close. We would like to note that this deal may be a hostile one, and one…
By all accounts, Morgan Stanley (MS) was supposed to have a mediocre quarter. Wall St. was concerned it could be worse than that. Enough of the large financial companies had been damaged by write-offs…
Adobe Systems Inc. (NASDAQ: ADBE) reported better-than-expected results. The software and media player giant earned $0.50 per share on revenue of $887.3 million. First Call had estimates of $0.46 for earnings and $876.7 million…
Constellation Energy Group (CEG) falls on fears of link to the Lehman bankruptcy. The company says no. The shares plunges to $13 from 52-week high of $107.97. Gatehouse (GHS) shows why it’s a bad…
Ken Heebner of the CGM Focus Fund (CGMFX) has made a game-changing move in his portfolio. In a CNBC interview with Erin Burnett, Heenber was asked about his positions in two key stocks in…
Well, the awaited FOMC announcement has finally come out and is a disappointment initially. The FOMC voted unanimously to leave interest rates unchanged at 2.00%. The Discount Rate was also unchanged at 2.25%. On…
There is one critical aspect to the stock market that pertains to American International Group (NYSE: AIG) which has been given less coverage because of the media’s focus on the turmoil in the stock…
iPCS, Inc. (NASDAQ: IPCS) has announced that a circuit court judge in Cook County, Illinois, has denied a motion from Sprint Nextel (NYSE: S) to dismiss or stay the company’s lawsuit against Sprint over…
By John Tamny, RealClearMarkets The Phillips Curve is the theory that inflation is the result of total demand outstripping total supply at the national level. In a recent speech, Fed vice chairman Donald Kohn…
The market staged an improbable rally. After selling off over 500 points yesterday and opening down over 100 points today, the Dow is about even. Wall St. may see a small ember left from…
Wells Fargo’s (WFC) shares are up 8% on strong volume. The bank stock should be trading down along with Citigroup (C) and Wachovia (WB). Due to the perverse reasoning of traders, Well Fargo is…
The bankruptcy of Lehman Brothers (NYSE:LEH) and the ongoing counterparty risk scenario isn’t just applicable to financial stocks. This is going to hit a couple of solar stocks pretty hard today. Evergreen Solar (NASDAQ:ESLR)…
Monsanto Company (NYSE: MON) raised fiscal 2008 earnings estimates. The crop and agriculture player now sees earnings of $3.58 to $3.60 per share. It also gave reported guidance of $3.49 to $3.51. Its prior…
Wal-Mart (WMT) is not the only retailer benefiting from the consumer’s need to be cheap. Kroger (KR), which sells groceries to the middle class, reported robust earnings. The chain said it had revenue of…