JP Morgan (JPM) announced earnings. The second-quarter net income of $4.2 billion compared with net income of $3.5 billion for the second quarter of 2006. Earnings per share of $1.20 were up 21% compared…
Not a good quarter for Pfizer (PFE). Second quarter revenue fell 6% to $11.1 billion. Net income was down 48% to $1.3 billion. The loss of U.S. exclusivity for Zoloft and Norvasc hurt earnings…
Women’s Wear Daily says that KKR is close to a deal to buy Macy’s (M). The price would be about $52 a share. The stock currently trades a $40. Douglas A. McIntyre
It appears that private equity interests are about to take 3Com (COMS) off the market. Silver Lake Partners and Bain Capital have apparently stopped by. As The Wall Street Journal points out: "the story…
Research In Motion (RIMM) is not standing still. It will introduce a new version of its Blackberry that runs on both cellular networks and WiFi. Odd as it may seem, the Apple (AAPL) iPhone…
Markets in Europe were off sharply at 6.05 AM New York time. The FTSE fell .9% to 6,601. BHP Billiton (BHP) was off 1.7% to 1460. Prudential (PUK) was down 1.4% to 716.5. Vodafone…
Sony (SNE) is tired of having sand kicked in its face by Nintendo. The smaller company’s Wii game platform handily outsells the PS3 and will probably continue to do so, despite a $100 price…
Imperial Tobacco (ITY) is buying rival Altadis for almost $18 billion. The combination would create the largest tobacco company in Europe and largest cigar company in the world. The new company would be No.1…
According to Bear Stearns (BSC), the two funds that it has which invested in sub-prime debt instruments now have little or no value. As The Wall Street Journal writes: "Investors are struggling to place…
GM (GM) has bought 50% of diesel engine company VM Motori. Newer clean diesel engines are being viewed as an alternative to hybrid models for delivering fuel-efficient cars and trucks. With the Toyota (TM)…
Warner Music Group (WMG) says it will not make another bid for rival music publisher EMI. It may simply be that the industry has become too brutal for Warner to want to risk matching…
According to Reuters, the board of Dow Jones (DJ) has approved a $5 billion offer from News Corp (NWS). Reuters writes that British Imperial Tobacco has agreed to buy rival firm Altadis for $22…
Markets in Asia were mostly down. The Nikkei fell 1.1% to 18,016. Hitachi (HIT) fell 1.4% to 861. NTT (NTT) rose .6% to 543000. Toyota (TM) fell 1.3% to 7460. The Hang Seng fell…
The board of Dow Jones (DJ) has approved a deal to sell the company to News Corp (NWS) for $5 billion. The deal now goes to the Bancroft family, who still may turn it…
On tonight’s MAD MONEY on CNBC, Jim Cramer reviewed another one of his "European Stock Picks" series with tonight’s pick coming from Switzerland: ABB Ltd. (NYSE:ABB) as the best pure-play in infrastructure around the…
On tonight’s MAD MONEY on CNBC, Jim Cramer has gone out with an activist investor pick on Kraft Foods Inc. (NYSE:KFT). He said he has been negative on the stock for too long. Cramer…
Venture Financial Group, Inc. has filed to come public via an IPO under the ticker "VNBK" on NASDAQ. Venture Financial is a bank holding company and parent of Washington state-chartered Venture Bank that operates…
After the close, Whole Foods Market’s (NASDAQ:WFMI) issued three press releases, all of which were expected. This board has not been a very strong board as far as its control and dominance over management,…
Starbucks (SBUX) has decided to move some of its most senior people around. It is not something that the military likes to do in wartime. And, it is rarely done on ships under sail.…
Microsoft Corp. (NASDAQ:MSFT) has announced that Don Mattrick, a former president at Electronic Arts Inc. (NASDAQ:ERTS), will now lead the Interactive Entertainment Business (IEB) which oversees the Xbox® and Games for Windows® businesses. Peter…