Filed under: International markets, Commodities, Oil, Recession, Financial CrisisHistory is repeating itself, at least in the oil market. Once again, a miscalculation by OPEC -- probably motivated by greed or rational self interest carried to its logical (but foolish) extension -- has resulted in almost the same set of market conditions that resulted when OPEC made the same mistake in 1990-1991...
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MySpace co-founder sees killer deals for established players that can purchase cash-strapped startups
Tue, Dec 2, 5:00 PM ET
Filed under: Next big thingNot long ago, the sentiment of Web 2.0 startup founders was fairly consistent. Basically, the IPO market would come back; the online advertising market would continue to grow; and valuations would continue to escalate. Well, it looks like things have not gone according to plan. If anything, it looks like we are seeing the return of the dot-com implosion. However, this...
Closing Bell: Markets bounce after yesterday's sell-off; BA, F, GE, DOW all up, GS down
Tue, Dec 2, 4:22 PM ET
Filed under: After the bell, General Electric (GE), Ford Motor (F), Market matters, Boeing Co (BA), Goldman Sachs Group (GS), Dow Chemical (DOW)Equities managed a comeback after yesterday's huge sell-off. Today was on little economic data, but "less bad" data from companies helped as well as overseas markets stabilizing before U.S. traders woke up this morning. We also did not see the continued...
Filed under: DJIAWhile Bill Gross is big-time bond trader for Pacific Investment Management Co., he also has some interesting takes on the equities markets. Unfortunately, his views are fairly pessimistic. According to Gross, the stock market can be somewhat nuanced. In fact, he compares it to a "fragile flower where price is part perception, part valuation, and part hope or lack thereof." In h...
Hedge funds have had a lousy year, losing an average of 10.8%. But two hedge funds -- big winners in 2007 -- kept making money this year as well. Meanwhile, those two winners mask an awful lot of losers who will probably find their way into oblivion. The winners for 2008 (at least through September) are run by James Simons (a math genius whose money-making techniques elude explanation) and John...
Filed under: Delta Air Lines (DAL)Delta may still be ready when you are, but in 2009 they're not going to be as big. Citing the global recession, Delta (NYSE: DAL) announced that it will cut an additional 6-8% of capacity in 2009. The move will result in an up to 10% reduction in domestic capacity, when one includes the impact of previously-announced operational cuts. Delta also said it will el...
Filed under: Rants and raves, Money and Finance Today, Wachovia Corp (WB), Wells Fargo (WFC), Chasing Value, Stocks to Buy, Best Stocks for 2008This has been a terrible year for financial institutions. However, Wells Fargo (NYSE: WFC) has been able to make it through the obstacle course better than most.The stock has been up and down with the market but the scandals and large write-downs that h...
Filed under: Good newsIt must be something in the water in Bentonville, Arkansas. The tiny town is home to Wal-Mart (NYSE: WMT), of course, but also the less famous America's Car-Mart (NASDAQ: CRMT), which operates 92 used car dealerships in the South-Central United States.While the auto industry is mired in the biggest downturn in its history, America's Car-Mart is posting some pretty impressi...
Filed under: Products and services, Hewlett-Packard (HPQ), Best Buy (BBY), Black Friday Dell Inc. (NASDAQ: DELL) came in second to global PC sales leader Hewlett-Packard Co. (NYSE: HPQ) during the Black Friday shopping frenzy and the ensuing weekend, according to analyst firm Thomas Weisel Partners. The report, however, analyzed sales only at a single retailer, Best Buy Co. (NYSE: BBY).Thomas W...
Filed under: Law, Bank of America (BAC), HousingEveryone cheered when Countrywide Financial, owned by Bank of America (NYSE: BAC), agreed to modify loans under a settlement with 11 state attorneys general reached in October.Everyone, that is, except the people who held those mortgages and stood to lose hundreds of millions of dollars as a result of slashed balances and reduced interest rates. S...