Rumor: Sprint To Takeover Clearwire
Initial rumors were that part of the deal for Softbank to buy 70% of Sprint-Nextel (NYSE: S) for just over $20 billion, would involve Sprint’s takeover of 4G broadband Clearwire (NASDAQ: CLWR) which has struggled…
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Douglas A. McIntyre
Today’s Best Market Rumors (10/17/2012) BP to Sell TNK-BP
Updated throughout the day on the 24/7 Wall St. Wire: Vikram Pandit was pushed out of Citigroup Inc. (NYSE: C) because of tensions with chairman Michael O’Neill over how the CEO handled daily operations. (Reuters)…
Uranium Woes: No Relief for Prices Amid Low Demand
Spot prices for uranium hit a two-year low last week at $45.75 amid a pending decision over Japan’s nuclear future, excess uranium inventories and slowing growth in China. Japan is dragging its feet on…
What’s Important in the Financial World (10/17/2012)
Spain on the Cusp Spain is on the cusp of something, but no one seems to know for sure what it is. The country received good news from Moody’s that kept Spain’s sovereign paper…
The Worst Business Decisions of All Time
In the long history of poor management decisions made at major American companies, only a few proved to be fatal. It is hard to ruin a company with a single decision. That is especially…
Dow Stocks That Are Likely to Tumble
Some of the companies that trade as part of the Dow Jones Industrial Average already have reported earnings for the third quarter. The fate of their share prices, at least for now, is likely…
Moody’s Damns the Citigroup Board
Ratings firm Moody’s did not think much of the decision by the Citigroup Inc. (NYSE: C) board to push out CEO Vikram Pandit. Moody’s changed its outlook of Citi’s Baa2 rating from stable to negative.…
New NY Times CEO — Making a Scandal out of Nothing
As part of his reward for running the editorial operations of The New York Times, Bill Keller has his own column on the paper’s op-ed page. Keller used his most recent offering to mention…
Media Digest (10/17/2012) Reuters, WSJ, NYT, FT, Bloomberg
Apple Inc. (NASDAQ: AAPL) supplier Foxconn says an underage worker was used at one of its facilities. (Reuters) Intel Corp.’s (NASDAQ: INTC) earnings raise more concern about PC sales. (Reuters) A fight with the…
Moody’s Resets Citigroup Rating to “Negative” Outlook
On the back of the resignation of Citigroup (NYSE: C) CEO Vikram Pandit, Moody’s has “affirmed all its ratings on Citigroup Inc. (senior at Baa2) and its major subsidiaries including Citibank N.A., (senior debt at A3)…
Moody’s Holds Spain Baa3 Rating, Cuts Outlook to “Negative”
The research firm: Moody’s Investors Service has today confirmed the Kingdom of Spain’s Baa3 government bond rating and assigned a negative outlook to the rating. In addition, Moody’s has confirmed Spain’s short-term rating at…
Today’s Best Market Rumors (10/16/2012) Citi Fired Pandit
Updated throughout the day on the 24/7 Wall St. Wire: Citigroup Inc.’s (NYSE: C) board fired CEO Vikram Pandit. (everywhere) Spain is about to officially ask the European Union for a line of credit. (FT)…
What’s Important in the Financial World (10/16/2012)
Strait of Hormuz Fears There continue to be rumors that Iran will dump oil into the Strait of Hormuz to block the shipping lane that is so critical to the movement of crude. For months,…
The Heartache of Big Company CEOs
John Mathias Engler, the heavy-set former Governor of Michigan who is now the President of the Business Roundtable, recently addressed an audience of Detroit executives. At the core of his message were mostly obvious comments. Senior…
CEO of the Week: Les Moonves of CBS
CBS Corp. (NYSE: CBS) CEO Les Moonves received a contract extension that will keep him at the top of the Sumner Redstone controlled media firm for another five years. The announcement that Moonves’s contract had…
Stocks Ripe for Sell-Offs
It is hard for a company to have such poor prospects that its shares trade near a 52-week low while the overall stock market stands at multiyear highs. But some of these public corporations,…
Media Digest (10/16/2012) Reuters, WSJ, NYT, FT, Bloomberg
The U.S. wireless market will continue to be dominated by AT&T Inc. (NYSE: T) and Verizon Wireless despite Softbank’s 70% investment in Sprint Nextel Corp. (NYSE: S). (Reuters) Starbucks Corp. (NASDAQ: SBUX) begins to…
Yahoo! COO To Make $600,000 plus plus plus
New Yahoo! (NASDAQ: YHOO) COO Henrique de Castro will receive a base salary of $600,000 as he moves from Google (NASDAQ: GOOG) to the portal company. The amount is a pittance compared to his massive…
Charlie Gasparino: A Romney Portfolio vs. Obama Portfolio
By Charlie Gasparino /FOXBusiness As if investing in a post-financial-collapse world isn’t hard enough, consider the latest worry the markets will have to deal with in the coming weeks: The outcome of the presidential…
What’s Important in the Financial World (10/15/2012)
Skepticism About China The fall-off in China’s factory activity may be beyond what Chinese central government officials have admitted so far. Pockets of pessimism have begun to crop up across the country. Zhou Dewen, who runs…