Oil Hits $100/Barrel Again; Now What?
For the first time in more than a month, WTI crude oil has touched the $100/barrel mark after falling below $91/barrel in mid-June. The move is likely the result of yesterday’s IEA report that…
All Work
Douglas A. McIntyre
S&P: Dark Scenario For US
S&P put out another report on US sovereign debt and the likelihood of a default if an increase in the debt cap isn’t passed. S&P lays out three scenarios for whether and how the…
Today’s Market Movers (STX, ERIC, MHS, SFN, PWAV)
We’re seeing some big moves in the just after opening this morning. Some is good news, and some is not. First the bad news. Seagate Technology PLC (NYSE: STX) is crumbling this morning following…
ETF Watch: Does Value Exist in Telecom ETFs? (IYZ, VOX, IXP, TTH)
The headline grabber in the telecommunications sector is the pending $39 billion acquisition of Deutsche Telekom’s T-Mobile by AT&T. The deal is running into opposition in Congress from both Republicans and Democrats who complain…
Top Active Trader Alert Stocks (ESRX, INTC, IRE, NBG, NOK, ERIC)
Active traders and day traders have many stocks to choose from this Thursday morning. We are tracking news and moves in shares of Express Scripts, Inc. (NASDAQ: ESRX), Intel Corporation (NASDAQ: INTC), Bank of Ireland…
The Twitter-24/7 Wall St Market Report (7/21/2011) Jobless Claims, Morgan Stanley Earnings
Twitter has, by most estimates, 225 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
Today’s Best Market Rumors (7/21/2011) Google To Buy InterDigital
Updated throughout the day. Google (NASDAQ: GOOG) may buy InterDigital (Reuters) EU officials may support a deal which would cause a partial default of Greek debt (WSJ) Cisco’s (NASDAQ: CSCO) job cuts may hurt…
States Where People Pay The Most (And Least) In Taxes
Different states tax their residences at different levels. In some states, like New Jersey, residents pay 12.2% as a percentage of their income. In others, like Alaska, they pay as little as 6.3%. 24/7…
Budget Cap Settlement: A Bridge To Nowhere
President Obama has signaled that he may accept a “short term” solution to matters that have blocked Congress from raising the debt ceiling. The problems is that short term solutions often lead to more…
News Corp Moves Back Toward 52-Week High
There has been enough good news about News Corp in the last two days that the stock appears headed back to the level where it traded before the phone hacking scandal caused it to…
China Manufacturing Dips For Now
China’s purchasing manufactures index contracted in July for the first time since mid-2010 when the recession was hardly over. HSBC, which publishes in index, reported that a reading of 48.9 in July from 50.1…
The E*Trade Sales Catastrophe
Hedge fund Citadel wants E*Trade (NASDAQ: ETFC) to sell itself, so that it can make back the money it invested in the online broker. Citadel waited too long to make its suggestion. It should…
Media Digest (7/21/2011) Reuters, WSJ, NYT, FT, Bloomberg
Germany and France reached a deal on how to handle the Greek debt crisis (MarketWatch) China’s PMI growth rate slowed to the lowest level since July 2010 (MarketWatch) Apple (NASDAQ: AAPL) may soon top…
Intel Posts Record Revenue, Surge In Internet Data Centers (INTC, SMH)
Intel Corp. (NASDAQ: INTC) has released its second quarter earnings report and the company posted record non-GAAP revenue of $13.1 billion. The chipmaking giant’s non-GAAP EPS came in at $0.59. Analysts had been expecting…
Transocean Accounting Official Resigns (RIG, BP)
Transocean Ltd. (NYSE: RIG) was all over the news at this time last year. It was a Transocean drilling rig that exploded in the US Gulf of Mexico, killing 11 workers and dumping 5…
American Airlines to Buy Airbus Planes (AMR, BA, EADSY, LUV, UAL, ALK, DAL, LCC)
AMR Corp. (NYSE: AMR), parent of US carrier American Airlines, has reversed a 15-year single-source purchasing program with Boeing Co. (NYSE: BA) and decided to split an order for 460 planes between US-based Boeing…
Debt-Ceiling Deal Appears Closer to Becoming Reality
The debt-ceiling Armageddon being fought in Washington has never been chiefly about money. Because everyone except the most extreme members of the Tea Party Movement knows that the debt limit must be raised, Republicans…
Alcatel-Lucent Exploring Options (ALU, T, HPQ)
Alcatel-LucentWhen France’s Alcatel acquired Lucent Technologies in 2006 to form Alcatel-Lucent (NYSE: ALU), the deal appeared to be a solid winner. Lucent, which had been spun off from AT&T (NYSE: T), seemed like a…
Housing: One Step Forward, Two Steps Back
It has been only 24 hours since the Commerce Department said new home sales and permits reached multi-month highs. The elation over that ended suddenly as the National Association of Realtors reported that existing…
Another Oil Sands Producer Acquired by China (CEO, SNP, COP, TOT, PTR, CHK)
Another day, another energy acquisition by a Chinese firm. This time its Cnooc Ltd. (NYSE: CEO) putting out about $2.1 billion for Toronto-traded Canadian oil sands developer Opti Canada. In addition to about $2…