Latest Forum Topics / Others | Post Reply |
DOW
|
|||
cyjjerry85
Elite |
06-May-2008 17:51
|
||
x 0
x 0 Alert Admin |
Stocks set for weak openRecord high oil prices weigh on Wall Street; Fannie Mae earnings on deck.LONDON (CNNMoney.com) -- U.S. stock futures wavered early Tuesday as recent optimism about the economy was offset by record high crude prices. At 5:20 a.m. ET, S&P futures were little changed and pointing to a flat start for Wall Street. Stocks tumbled Monday as investors worried about the collapse of several deals and surging crude prices. High oil prices are likely to knock sentiment again Tuesday. Oil futures rose to a new trading high near $121 a barrel in electronic trading. The recent surge in crude prices come amid growing hopes that the downturn in the U.S. may not be as deep as originally feared. No major economic readings are due Tuesday, but investors will take in a string of earnings. Fannie Mae (FNM, Fortune 500) is due to report before the opening bell. Disney and Cisco Systems post results after the market close. Investors will be watching for the latest in the fallout of the failure of Yahoo (YHOO, Fortune 500) and Microsoft (MSFT, Fortune 500) to reach a deal. Yahoo CEO Jerry Yang is still open to a Microsoft takeover, as long as the price is right, according to published reports. Yahoo shares fell as much as 20% Monday after Microsoft withdrew its bid. In major corporate news, Bank of America (BAC, Fortune 500) is committed to its takeover of Countrywide Financial (CFC, Fortune 500), according to a report in the Wall Street Journal. Doubts about the deal grew Monday after an analyst said the bank should ditch the merger. Swiss banking giant UBS said it plans to cut 5,500 jobs after posting an expected $11 billion quarterly loss. Merck (MRK, Fortune 500) said Monday that it plans to cut 1,200 sales positions. The announcement, which was made after the market close, helped push the stock higher in after-hours trading.In global trade, Asian markets drifted as investors eyed the decline on Wall Street. Markets in Japan were closed. European stocks fell in early trading. |
||
Useful To Me Not Useful To Me | |||
cyjjerry85
Elite |
06-May-2008 08:45
|
||
x 0
x 0 Alert Admin |
Down day on Wall StreetStocks slip after crude hits new record, Microsoft abandons Yahoo bid and questions are raised about BofA's purchase of Countrywide.NEW YORK (CNNMoney.com) -- Stocks slumped Monday as oil prices touched a record $120 a barrel, Microsoft abandoned its bid for Yahoo and analysts speculated that Bank of America could renegotiate or walk away from its deal to buy Countrywide Financial. The Dow Jones industrial average (INDU) fell 0.7%. The broader Standard & Poor's 500 (SPX) index lost around 0.5%. The Nasdaq composite (COMP) lost 0.5%. After a strong April and start to May, Wall Street was hit Monday with the possible dissolution of several big proposed mergers, raising worries about the health of Corporate America amid the economic slowdown. Microsoft said Saturday that it was abandoning its sweetened deal for Yahoo and would not pursue a hostile takeover. The talks fell apart over the weekend after Yahoo rejected Microsoft's higher offer. Shares of Yahoo (YHOO, Fortune 500) slumped 15% and topped the Nasdaq's most-active list. Microsoft (MSFT, Fortune 500) shares slipped modestly. Although some analysts say the deal could eventually go through, the disintegration was nonetheless a blow to Wall Street. Deals generally tend to lift investor sentiment, as they represent corporate confidence, and a merger at this level would be especially positive for market psychology. Wall Street also worried about the outlook for Bank of America (BAC, Fortune 500)'s proposed $4 billion bid for Countrywide Financial (CFC, Fortune 500) after two firms issued dour outlooks. A Friedman Billings Ramsey analyst said BofA could walk away from the deal or at least lower its purchase price. Analysts at S&P Equity Research said Monday that they think BofA will complete the deal, but at a lower price. BofA shares fell 2% and Countrywide shares lost over 10%. Investors also reacted to record oil prices above $120 a barrel and a retreat in the dollar after the greenback had showed some strength last week. That turnaround in oil and the dollar after last week was especially concerning, said Joseph Saluzzi, co-head of equity trading at Themis Trading. "I think people thought we were seeing the start of a downtrend in oil and some strengthening of the dollar last week, and this week it's reversed," Saluzzi said. In addition, the Microsoft-Yahoo news was dragging on technology, one of last week's best stock performers, he said, adding that tech could rebound or fall more depending on Cisco Systems' earnings report, due Tuesday. Stocks briefly improved following the morning release of the April ISM services sector index, which rose to 52 from 49.6 versus forecasts for a drop to 49.1. Any reading over 50 indicates expansion in the sector. Deutsche eyeing Sprint: In other potential deal news, Deutsche Telekom is reportedly considering making a bid for Sprint Nextel (S, Fortune 500), according to published reports Monday. Later in the day, the Wall Street Journal reported that Sprint is considering spinning off or selling its troubled Nextel unit. Sprint fell 10.5%. Shares of Google (GOOG, Fortune 500) rose 2.3% after a Goldman Sachs analyst boosted its price target, saying that the company could benefit from the fallout from the failed Microsoft-Yahoo deal. Among other movers, General Motors (GM, Fortune 500) lost 3.6% after workers at its Chevy Malibu plant in Kansas went on strike. Market breadth was negative. On the New York Stock Exchange, losers topped winners by almost three to two on volume of 1.11 billion shares. On the Nasdaq, decliners beat advancers four to three on volume of 1.72 billion shares. Commodities: Oil and gold prices climbed, while gas prices eased modestly. U.S. light crude oil for June delivery jumped $3.65 to set a settlement record of $119.97 per barrel on the New York Mercantile Exchange. Oil - which was up on renewed supply concerns - touched an intraday record of $120.30 a barrel earlier, the first time it has surpassed the $120 mark. COMEX gold for June delivery rose $16.10 to $874.10 an ounce. The national average price for a gallon of regular unleaded gas slipped to $3.611 from the previous day's price of $3.614, according to AAA. Last week, gas prices hit a record of $3.623, after hitting all-time highs for 17 straight days. Other markets: The dollar fell versus the euro after rising against it over the past week. The greenback also slipped versus the yen.Treasury prices dipped, raising the yield on the benchmark 10-year note to 3.86% from 3.85% late Friday. Bond prices and yields move in opposite directions. |
||
Useful To Me Not Useful To Me | |||
|
|||
Blastoff
Elite |
06-May-2008 08:35
|
||
x 0
x 0 Alert Admin |
DOW closed negative, -88.66. | ||
Useful To Me Not Useful To Me | |||
lookcc
Master |
05-May-2008 22:08
|
||
x 0
x 0 Alert Admin |
dow cud close flat or positv 2morrow morning.
|
||
Useful To Me Not Useful To Me | |||
lookcc
Master |
05-May-2008 21:48
|
||
x 0
x 0 Alert Admin |
next is ism non-manuf index level....49.3? 49.6? above 49.6 or below 49.3??? | ||
Useful To Me Not Useful To Me | |||
|
|||
tanglinboy
Elite |
05-May-2008 21:07
Yells: "hello!" |
||
x 0
x 0 Alert Admin |
Dow futures now -115 Because of the Yahoo deal failed |
||
Useful To Me Not Useful To Me | |||
cyjjerry85
Elite |
05-May-2008 18:12
|
||
x 0
x 0 Alert Admin |
Stocks set to stumble at openFutures decline after Microsoft walks away from Yahoo bid; Yahoo shares sink 19% in Frankfurt.LONDON (CNNMoney.com) -- U.S. stocks looked set for a lower open Monday after Microsoft walked away from its takeover bid for Yahoo. At 4:55 a.m. ET, Nasdaq and S&P futures were lower and suggesting a negative open for Wall Street. Microsoft said over the weekend that it withdrew a sweetened offer for Yahoo valued at $46 billion. The move comes after a three-month long takeover battle that many had expected to turn hostile. Yahoo (YHOO, Fortune 500) shares are expected to fall sharply when the market opens in New York. In Frankfurt, the stock sank 19%. Microsoft (MSFT, Fortune 500) shares rose 4% in Germany. In other corporate news, Deutsche Telekom AG is considering a bid to acquire Sprint Nextel (S, Fortune 500), according to a report in The Wall Street Journal.In global trade, Hong Kong stocks finished lower and European shares fell in morning trading. Markets in Japan and the U.K. were closed. |
||
Useful To Me Not Useful To Me | |||
cyjjerry85
Elite |
05-May-2008 13:30
|
||
x 0
x 0 Alert Admin |
from CIMB today: Microsoft Corp walked away from its bid to buy Yahoo Inc on Saturday after the Internet company turned down its offer to raise the price by US$5 billion to US$47.5 billion. Microsoft's offer was for US$33 a share but Yahoo would not lower its demand below US$37, Microsoft chief executive Steve Ballmer said. The software company initially bid US$31 per share for Yahoo more than three months ago. We believe the economics demanded by Yahoo do not make sense for us, and it is in the best interests of Microsoft stockholders, employees and other stakeholders to withdraw our proposal,' Mr Ballmer said in a statement. Analysts say Yahoo has overplayed its hand and they expect the Web pioneer's shares to fall as much as 30% to US$20 levels when Nasdaq trading resumes today. The stock rose nearly 7% to US$28.67 last Friday on hopes of an agreement between Microsoft and Yahoo. |
||
Useful To Me Not Useful To Me | |||
|
|||
cyjjerry85
Elite |
05-May-2008 07:53
|
||
x 0
x 0 Alert Admin |
Yahoo may drag down Nasdaq tonight...and normally its an influencing factor to the DOW...newspapers and also many US analysts see a possible sharp drop of Yahoo shares tonight ..possibility even 8% down Software maker (Microsoft) walks away after it says it raised its offer to $46 billion - says economics demanded by Yahoo 'do not make sense.' |
||
Useful To Me Not Useful To Me | |||
AK_Francis
Supreme |
04-May-2008 23:33
Yells: "Happy go lucky, cheers." |
||
x 0
x 0 Alert Admin |
Ok, risky is the point loh. Tks noted, will vest with care leow. Hence, had Q 3B and 2S counters b4 6pm, very carefully. But the risks are still there loh. Taking the risks with own accord should be the way to go. No blaming. | ||
Useful To Me Not Useful To Me | |||
yongliang168
Member |
04-May-2008 23:14
|
||
x 0
x 0 Alert Admin |
when he dies... we should keep his brain alive. |
||
Useful To Me Not Useful To Me | |||
teeth53
Supreme |
04-May-2008 20:17
Yells: "don't learn through life, learn to grow with life " |
||
x 0
x 0 Alert Admin |
OMAHA (CNNMoney.com) -- In the Q&A session Saturday morning at Berkshire Hathaway's annual meeting, CEO Warren Buffett and vice chairman Charlie Munger repeatedly warned investors to lower their expectations. When a shareholder asked whether Buffett's recent purchases of publicly traded stocks were likely to generate returns greater than 7% to 10% over time, Buffett promptly said no. "We would be very happy if we earned 10%, pre-tax" on the additions to Berkshire's equity portfolio, said Buffett. "Anyone that expects us to come close to replicating the past should sell their stock; it isn't going to happen. We'll get decent results over time, but not indecent results." Added Munger: "You can take what Warren said to the bank. We are very happy at making money at a rate in the future that's much less than the past... and I suggest that you adopt the same attitude." MY OWN VIEW: Over time with each cycle of profiting, it will be getting more and more difficult and more and more risky-ing, unlike the good old day, every dollar, one can easily make one two dollar back, now one may have to pay back, maybe two, three or even four five dollars. |
||
Useful To Me Not Useful To Me | |||
|
|||
teeth53
Supreme |
04-May-2008 20:05
Yells: "don't learn through life, learn to grow with life " |
||
x 1
x 0 Alert Admin |
DOW finished in positive note. Hopefully STI also finish positively, pending regional bourses. |
||
Useful To Me Not Useful To Me | |||
soloman
Master |
03-May-2008 10:52
|
||
x 0
x 0 Alert Admin |
BEAR STERN was the bottom Those who did not go in the mkt has probably missed the first small run up |
||
Useful To Me Not Useful To Me | |||
jasonrxz
Senior |
03-May-2008 01:12
|
||
x 0
x 0 Alert Admin |
Just to echo it again..... from triple digit gain to double digit gain to single digit gain then to single digit losses and to now double digit losses!!!!
OOH MY GOD!!! Really so much profit taking huh? can it close at 13,000 psychological support?? hope it will.... now at 12999.
Haiz..... what a night.....
|
||
Useful To Me Not Useful To Me | |||
lookcc
Master |
03-May-2008 00:58
|
||
x 0
x 0 Alert Admin |
idesa168.....illogical logic....co lost 300 mln last yr, loss is 100mln tis year...good new wat, loss is 1/3 of last yr......so px goes up bcos loss is less than last year....wat a joke! |
||
Useful To Me Not Useful To Me | |||
winsontkl
Elite |
03-May-2008 00:46
|
||
x 0
x 0 Alert Admin |
Ha ha....from triple digit gain....now single digit....will it substain???? | ||
Useful To Me Not Useful To Me | |||
winsontkl
Elite |
02-May-2008 22:22
|
||
x 0
x 0 Alert Admin |
Ha ha...expectation is the main cause of the optimism....why spoilt the party when the going is good.... Like they said in dialect version "No fish, prawn also can....ikan bilis also boleh"...hee hee. Self console....things is not that bad afterall... |
||
Useful To Me Not Useful To Me | |||
jasonrxz
Senior |
02-May-2008 21:38
|
||
x 0
x 0 Alert Admin |
bro idesa,
mainly is bocos above expectation and also the Fed tied up with europe side to pump more $$$ in the financial market..... cheers
But opening not strong and seems like it's the tailwind of yesterday and hope the gain would fade off after 2200 with the factory report coming up.... cross finger now.....
|
||
Useful To Me Not Useful To Me | |||
idesa168
Elite |
02-May-2008 21:32
|
||
x 0
x 0 Alert Admin |
I do not understand the logic behind the surge of the DOW Futures.....because of this news below? "There was a net loss of 20,000 jobs in the month, according to the Labor Department report, compared to the revised loss of 81,000 jobs in the March reading. Economists surveyed by Briefing.com had forecast a loss of 75,000 jobs in April." So the number of lost job in April is below economist estimates and hence tonight the DOW will rally?...but it's still 20,000 jobs lost! It's not 20,000 jobs gained in the mkt! So if a company last year lost $300million but this year lost $100million, the share price will rally because it lost $200million less than last year......the technicality here is total of 2 years the company lost $400million, equivalent to $200million lost each year....the share price will jump?.....sigh! |
||
Useful To Me Not Useful To Me |