Pending Home Sales Surge 10.4%
Pending home sales rose a remarkable 10.4% in October with particular strength in the Northeast. The figures come a day after down beat data on home prices from S&P/Case Shiller, which covered the top…
All Work
Douglas A. McIntyre
Stocks Soar On ADP, Some Major Companies Up Over 5% (BAC, C, MSFT)
New from ADP that the private sector added 206,000 jobs this month helped push stocks higher. The three major exchanges–DJIA, NASDAQ, and S&P 500 were up nearly 3% Some stock of major companies were…
Today’s Best Market Rumors (11/30/2011) Facebook IPO, Yahoo! Sale
Updated throughout the day. Alibaba and Yahoo! Japan have offered to buy back the shares held by Yahoo! (NASDAQ: YHOO) in each of their firms (various) Yahoo! has received an offer of $16.60 a…
ADP Shows 206,000 Private Sector Jobs
In news that bodes well for national unemployment, ADP said the private sector added 206,000 jobs. The numebr was expected to be closer to 150,000. National unemployment figures from the government to be released…
Challerger Gray Says Downsizing Pace Up In November
Challerger Gray Christmas reported today that The number of planned layoffs announced in November remained virtually unchanged from the previous month, as US-based employers reported job cuts totaling 42,474, down 0.7 percent from 42,759…
AT&T (T) And China Telecom Create New Partnership
AT&T (NYSE: T) and China Telecom announced that they would expand AT&T’s existing IP-VPN service in China and connect the China Telecom and AT&T MPLS-based IP networks in the United States AT&T could use…
China Cuts Bank Reserve Ratio
China made an unexpected cut in its bank reserve ratio. It is the first time the action has been taken in two years. Bloomberg writes Reserve ratios will decline by 50 basis points effective…
What’s Important in the Financial World (11/30/2011) Zynga IPO, IMF to Save Italy
Europe may only have a week to rescue itself from financial disaster. The borrowing costs of Italy and Spain have been unsustainably high for too long. The stability fund established to back the debt…
Yahoo! May Sell Asia Assets, Or Take Offer For 20% Of Shares
Yahoo! (NASDAQ: YHOO) may have more offers for its businesses, or the whole company, than it can handle. The FT reports that China e-commerce company Alibaba may buy share its owns in the company.…
Media Digest (11/30/2011) Reuters, WSJ, NYTimes, FT, Bloomberg
The EU continues to work on its bailout fund and may ask the IMF for help. (Reuters) American Airlines parent AMR (NYSE: AMR) files for Chapter 11. (Reuters) S&P cuts its ratings on large American…
An IPO for the Empire State Building
The Empire State Building was erected in 1930, at the beginning of the Great Depression. It took only 18 months to complete the 102 story structure, which would be impossible in today’s world of permits…
Will Italy Turn to the IMF?
Rumors suggest that Italy may turn to the International Monetary Fund to cover its deficits. The costs for the nation to borrow money in the capital markets has become too high. These same rumors…
Cisco and the Zettabytes Internet
Almost no one knows what a zettabyte is. Cisco Systems (NASDAQ: CSCO) uses the term to measure the volume of data center IP traffic. According to the router giant, “Annual global data center IP…
India GDP Dropped Below 7%
The FT reports that India’s economy grew at the slowest rate for more than two years in the second quarter, confirming the country’s shift to lower growth rates of about 7 per cent. The…
S&P And Moody’s May Have Missed Greek Trouble
S&P and Moody’s may have missed critical signs that Greece was in trouble. The New York Times reports that Moody’s in particularly did not see how bad things were in the southern EU nation Until…
Facebook May Raise Money Without Wall Street
Facebook, which was supposed to have a $10 billion IPO in the spring that would value it at $100 billion, may elect bypass the traditional route of using bankers. The Wall Street Journal reports that…
Yahoo! (YHOO) Will Try To Set Buyout Deal By Year’s End
Yahoo! (NASDAQ: YHOO) will try to get a deal done to sell the company or many of its assets by the end of the year. The process, which began slightly after CEO Carol Bartz was…
FCC Attacks AT&T (T)
Documents from the FCC analysed by The Wall Street Journal show the extent to which the agency resisted a deal for AT&T (NYSE: T) to buy T-Mobile. The documents said that the merger would stifle…
Goldman Sachs (GS) Provides Hedge Fund Capital
Goldman Sachs (NYSE: GS) has decided it will make more money providing capital for new hedge funds than putting money into its own. The new strategy has caused a rapidly rising set of new…
Banks And Major Companies Make Eurozone Break-Up Plans
Reuters and the FT report that large corporations and banks have started preparations for the eventual break-up of the eurozone. Reuters reports that Drawing on interviews with company officials, bankers and lawyers in Europe,…