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| Cheap carriers on Android spells trouble for iPhone
December 15, 2009 at 7:30 pm
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| Filed under: Investing  Each day on my way to work, I walk by a poster advertising unlimited data, text and calling with carrier MetroPCS (PCS) for $50. Ouch. I pay close to $100 per month for my Apple (AAPL) iPhone on rival AT&T (T) for essentially the same plan. That's roughly a $600 per year difference in costs.
So, one would logically ask, why have I stuck with AT&T? First, I much prefer my iPhone to BlackBerry (RIMM) models available on MetroPCS (PCS) or competitor Leap Wireless. You can get far more applications on your iPhone. The iPhone is, to my mind, a much easier device to use and integrate with my laptop. But if those companies offered a phone based on Google's (GOOG) Android operating system, then I might truly consider a switch.Continue reading Cheap carriers on Android spells trouble for iPhone Cheap carriers on Android spells trouble for iPhone originally appeared on DailyFinance on Tue, 15 Dec 2009 19:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Home buyers more bullish on real estate than home builders
December 15, 2009 at 7:00 pm
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| Filed under: Economy  America's home builders remain in a funk over the real estate market, with a key industry confidence indicator dropping to its lowest level in six months on Tuesday. But home buyers may finally be perking up a bit. Even in southern California, ground zero in the housing bust, there are signs of life. The median price paid for a home in November was $285,000, up 1.8% from October and the same as November 2008, according to research firm MDA DataQuick. The total number of homes sold in the region rose 14.7% from the same month last year.
In another measurement of the industry's strength, the National Association of Realtors said pending home sales, a forward-looking indicator based on contracts signed, have risen for nine consecutive months. Pending home sales were up 3.7% in October compared to September, and up 31.8% compared with October 2008.Continue reading Home buyers more bullish on real estate than home builders Home buyers more bullish on real estate than home builders originally appeared on DailyFinance on Tue, 15 Dec 2009 19:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Chris Brown v. Walmart: Blame poor CD sales on apathy or sabotage?
December 15, 2009 at 6:30 pm
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| Filed under: Company News, People, Sony, Wal-Mart Stores  Last weekend, pop singer Chris Brown spent a lot of time re-Tweeting stories from fans who were claiming that his new album Graffiti, released on Dec. 8 by Sony (SNE) subsidiary Jive, was being held back from store shelves. Brown's domestic-violence incident last February with then-girlfriend Rihanna last February has polarized listeners and lit up message boards over the last few months, and Brown -- and his fans -- implied that his detractors were engaged in retail sabotage to take revenge against him.Continue reading Chris Brown v. Walmart: Blame poor CD sales on apathy or sabotage? Chris Brown v. Walmart: Blame poor CD sales on apathy or sabotage? originally appeared on DailyFinance on Tue, 15 Dec 2009 18:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Gilead, Elan, Transition Therapeutics halt drug trials
December 15, 2009 at 6:10 pm
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| Filed under: Company News, Healthcare, Johnson & Johnson  Just because a drug has managed to successfully meet earlier trial goals, it's no guarantee it will continue to do so. On Tuesday, Gilead, Elan and Transition Therapeutics halted trials of experimental drugs that had previously showed promising results.
Elan Corp. (ELN) and Transition Therapeutics Inc. (TTHI) have partially halted a mid-stage clinical trial of their experimental Alzheimer's drug, ELND005. They said that patients will be immediately withdrawn from the study in the two higher-dose groups of 1,000 milligrams and 2,000 mg twice daily, due to greater rates of serious adverse events in those groups, including nine deaths.Continue reading Gilead, Elan, Transition Therapeutics halt drug trials Gilead, Elan, Transition Therapeutics halt drug trials originally appeared on DailyFinance on Tue, 15 Dec 2009 18:10:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Promotions all around at Rodale -- but not for editor of Men's Health
December 15, 2009 at 5:40 pm
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| Filed under: People, Media  A recent spate of executive turnover at health-and-fitness publisher Rodale Inc. culminated in a round of promotions and organizational-chart redrawing on Tuesday -- although one person who conspicuously missed out on the fun was Men's Health editor , who embarrassed the company last week with revelations of his cookie-cutter scheme for producing covers.
Four months ago, Rodale's CEO, Steven Murphy, stepped down, handing over his post to Maria Rodale, granddaughter of the company's founders. Today's changes can thus be read as Rodale putting her own management team in place.Continue reading Promotions all around at Rodale -- but not for editor of Men's Health Promotions all around at Rodale -- but not for editor of Men's Health originally appeared on DailyFinance on Tue, 15 Dec 2009 17:40:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Abbott, Amgen are on the prowl with small deals
December 15, 2009 at 5:00 pm
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| Filed under: Company News, Technology, Healthcare  Acquisitions and deals are always a risky business, especially in the pharmaceuticals industry. Just today, Elan Corp. (ELN) and Gilead Sciences (GILD) discovered the price of such deals when both halted drug trials on compounds developed by other pharmaceutical firms. Due to safety concerns, Elan partially halted an Alzheimer's drug trial in partnership with Transition Therapeutics Inc. (TTHI). And due to efficacy issues, Gilead halted a trial of a blood pressure drug it bought with its $2.5 billion acquisition of Myogen.
In that light, it's interesting to hear of two new deals today. Amgen Inc. (AMGN) has entered an agreement with Array BioPharma Inc. (ARRY) to develop a potential treatment for type 2 diabetes, while Abbott Laboratories (ABT) agreed to acquire Starlims Technologies Ltd. (LIMS) for about $123 million.Continue reading Abbott, Amgen are on the prowl with small deals Abbott, Amgen are on the prowl with small deals originally appeared on DailyFinance on Tue, 15 Dec 2009 17:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Lucky Somali pirates' haul was $120 million richer than they thought
December 15, 2009 at 4:00 pm
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| Filed under: Energy, Economy, Media  Contrary to earlier published reports, the hijacked U.S.-bound oil tanker Maran Centaurus is carrying about $140 million worth of Saudi crude -- not the $20 million previously claimed -- DailyFinance has learned. Reached in Greece Tuesday, a representative for Maran Tankers Management, the ship's owner, confirmed that the Centaurus is carrying about 2 million barrels of oil.
At today's market rate of around $70 per barrel, that would mean the 1,085-foot supertanker is carrying $140 million worth of oil, said John van Schaik, the New York bureau chief for the Energy Intelligence Group, a leading industry authority. Previously, the Associated Press had reported that the ship was only carrying $20 million worth of oil. The correct number indicates that the pirates have a much more valuable cargo on their hands.Continue reading Lucky Somali pirates' haul was $120 million richer than they thought Lucky Somali pirates' haul was $120 million richer than they thought originally appeared on DailyFinance on Tue, 15 Dec 2009 16:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| ExxonMobil buys gas, as Big Oil plans for a renewable-energy future
December 15, 2009 at 3:40 pm
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| Filed under: Energy, Company News, Economy, Exxon Mobil, Green  These days, everyone wants a piece of the rock -- domestic shale, that is. With oil-drilling costs north of $3.5 million per well and natural gas trading below $3, global energy companies are all about American shale. In November, Europe's second-largest supplier of natural gas, Norwegian-based StatOilHydro (STOHF), signed a $3.4 billion agreement in November to acquire 32.5% of Chesapeake Energy's (CHK) 32,000 shale-gas leases in Pennsylvania, West Virginia, New York, and Ohio.Continue reading ExxonMobil buys gas, as Big Oil plans for a renewable-energy future ExxonMobil buys gas, as Big Oil plans for a renewable-energy future originally appeared on DailyFinance on Tue, 15 Dec 2009 15:40:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| New York City's anti-soda ad aims to take the fizz out of Coke and Pepsi
December 15, 2009 at 3:30 pm
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| Filed under: Company News, Media, Coca-Cola Company, Pepsico  New York City is embarking on the "second phase" of its campaign against soda, although skeptics may say it's a Quixotic attempt to reform the public's love affair with Coke and Pepsi. The city's health department this week released a video depicting what it says is the effect of drinking sugary sodas: consuming bubbling, roiling blobs of fat. (A word of warning: viewing this ad may make induce hours of queasiness.)Continue reading New York City's anti-soda ad aims to take the fizz out of Coke and Pepsi New York City's anti-soda ad aims to take the fizz out of Coke and Pepsi originally appeared on DailyFinance on Tue, 15 Dec 2009 15:30:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
| Home builder confidence index falls to lowest level since June
December 15, 2009 at 3:20 pm
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| Filed under: Economy  The National Association of Home Builders said Tuesday its Housing Market Index fell again in December to 16, from November's reading of 17 -- the index's lowest level since June.
According to a Bloomberg News survey, economists had expected the index to rise to 18 in December. The index was at 20 in October, after hitting a cycle low of eight in January. The NAHB Housing Market Index measures builder perceptions of current single-family sales conditions, sales expectations for the next six months, and the traffic of prospective buyers. Readings over 50 indicate that more builders view sales conditions as good than poor.Continue reading Home builder confidence index falls to lowest level since June Home builder confidence index falls to lowest level since June originally appeared on DailyFinance on Tue, 15 Dec 2009 15:20:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Monsanto has stranglehold on seed industry, says AP
December 15, 2009 at 3:00 pm
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| Filed under: Company News, Economy, Green  The seeds of Monsanto Company (MON) are everywhere in the typical American diet; in those corn chips, corn flakes and soy milk, yes, but also in the yogurt, hamburger and sausage McMuffin; in the soda, candy bars, barbecue sauce and sandwich bread.
A new investigative report by the Associated Press, based on a series of confidential licensing contracts, reveals that not only are Monsanto-patented genes in 95% of the soybeans and 80% of the corn grown in the U.S., but that the company's control over the seed industry is so ironclad, prices are sure to rise precipitously in the next several years.Continue reading Monsanto has stranglehold on seed industry, says AP Monsanto has stranglehold on seed industry, says AP originally appeared on DailyFinance on Tue, 15 Dec 2009 15:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Consumer group blasts White House's digital piracy pow-wow
December 15, 2009 at 2:40 pm
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| Filed under: Technology, Sony, Viacom, News Corp.  Late last month, Somali brigands in a dinghy hijacked the Maran Centaurus, an American-bound tanker carrying millions of barrels of crude oil, in the latest episode of escalating pirate attacks off the coast of the failed, anarchic East African state. But that event won't come up at Tuesday afternoon's White House meeting on piracy, because at that gathering, the topic of discussion will be so-called digital piracy. Led by Vice President Joe Biden, the meeting "is the first of its kind, and will bring together all of the stakeholders to discuss ways to combat piracy in this rapidly changing technological age," according to the White House.
On Tuesday morning, a prominent consumer advocacy group took the White House to task for the lopsided guest list of the meeting, which did not include "consumer or public-interest groups, technology companies, technology associations or Internet Service Providers."Continue reading Consumer group blasts White House's digital piracy pow-wow Consumer group blasts White House's digital piracy pow-wow originally appeared on DailyFinance on Tue, 15 Dec 2009 14:40:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| George Stephanopoulos on Good Morning America: The reviews are in
December 15, 2009 at 2:20 pm
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| Filed under: People, Media  "Smooth" was the word of choice among TV critics trying to characterize the debut performance of George Stephanopoulos as co-host of Good Morning America.
"George Stephanopoulos slid over into Diane Sawyer's co-host seat . . . so smoothly Monday that the most noticeable changes were the hair, jacket and jewelry," wrote David Hinckley in the New York Daily News. "Stephanopoulos seemed pretty smooth and comfortable in his own right for his first day," agreed The Baltimore Sun's David Zurawik. "Stephanopoulos moved smoothly if not memorably into the anchor chair," opined Tom Shales in The Washington Post.Continue reading George Stephanopoulos on Good Morning America: The reviews are in George Stephanopoulos on Good Morning America: The reviews are in originally appeared on DailyFinance on Tue, 15 Dec 2009 14:20:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Best Buy's earnings rise, but falling prices trim profit margins
December 15, 2009 at 2:00 pm
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| Filed under: Company News, Technology, Earnings, Wal-Mart Stores, Costco Wholesale Corp.  Falling prices for electronics kept taking a chunk out of Best Buy (BBY) profits, but company executives said more sales and traffic helped it achieve third-quarter earnings that easily beat analysts' estimates. And expecting more of the same for the rest of the year, they upped their guidance to investors.
The electronics chain posted net income of $227 million, or 53 cents per share, a dime better than the 43 cents Wall Street had expected. That's 51% above the same period a year ago, after factoring out a one-time accounting charge that hit earnings in 2008.Continue reading Best Buy's earnings rise, but falling prices trim profit margins Best Buy's earnings rise, but falling prices trim profit margins originally appeared on DailyFinance on Tue, 15 Dec 2009 14:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Easy money: Deducting your tax losses could save you up to $1,000 this year
December 15, 2009 at 1:30 pm
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| Filed under: Retirement, Investing  The autumn's juicy apples and fresh squash will soon give way to the stale processed foods of winter. And just as people like to pick what produce remains as the agricultural season ends, investors may want to "harvest" their stock market losses as the calendar year closes.
Here's the deal: Any taxpayer in any tax bracket may deduct stock market losses of up to $3,000 against his or her ordinary income. In other words, if you've sold stocks at a loss of $3,000 this year, that same amount of your total earnings becomes exempt from taxation. The higher your tax bracket, the more money you save by harvesting losses. Someone taxed at 33% would save $1,000 while someone taxed at 25% would save $750.Continue reading Easy money: Deducting your tax losses could save you up to $1,000 this year Easy money: Deducting your tax losses could save you up to $1,000 this year originally appeared on DailyFinance on Tue, 15 Dec 2009 13:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Afro-themed image on a magazine cover shocks industry, ignites firestorm
December 15, 2009 at 1:00 pm
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| Filed under: People, Media, News Corp.  When Nielsen Business Media announced last week it was shutting down book-publishing trade magazine Kirkus Reviews, industry observers could declare a winner to an age-old rivalry: Publishers Weekly.
Not that PW hasn't had its problems. The 136-year-old magazine, published by Reed Elsevier's (ENL) Reed Business Information, has been on the block off-and-on for the last couple of years -- and most definitely on since last July. PW has weathered all manner of cuts and layoffs, including that of editor-in-chief Sara Nelson at the start of 2009.
But it seems the magazine's newest strategy for survival is to court controversy. Last month its Best Books of 2009 roster raised hackles for excluding any books by women. This week, it's the magazine's cover (pictured), promoting a feature about African-American literature, that's sparking a debate in the industry.Continue reading Afro-themed image on a magazine cover shocks industry, ignites firestorm Afro-themed image on a magazine cover shocks industry, ignites firestorm originally appeared on DailyFinance on Tue, 15 Dec 2009 13:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Is Robert Rubin manipulating Obama to help Wall Street?
December 15, 2009 at 12:30 pm
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| Filed under: People, Goldman Sachs , Citigroup  Rolling Stone's Matt Taibbi argues in a new article, "Obama's Big Sellout," that President Obama's advisors are undermining his campaign promises for change by forcing him to do the bidding of Wall Street.
Obama's most powerful advisors are reportedly under the sway of former Treasury Secretary Robert Rubin, who has many acolytes sprinkled throughout the administration. Taibbi essentially argues that these advisors are Rubin's puppets. Other advisors, progressives who want to protect the little guy and fundamentally change how Washington works, have been marginalized.
Continue reading Is Robert Rubin manipulating Obama to help Wall Street? Is Robert Rubin manipulating Obama to help Wall Street? originally appeared on DailyFinance on Tue, 15 Dec 2009 12:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Fed is likely to maintain status quo in December meeting
December 15, 2009 at 12:00 pm
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| Filed under: Economy, Investing  The Federal Reserve is expected to maintain the current target interest rate of 0% to 0.25% when it meets Tuesday and Wednesday. We'll know for sure when the Federal Open Market Committee releases its policy statement around 2:15 p.m. on Wednesday.
But with the unemployment rate at 10% and analysts predicting it will barely drop to 9.9% by the third quarter of 2010, Federal Reserve Chairman Ben Bernanke would be committing political suicide if he raised rates now, just as Congress decides whether or not to support his second term as chairman. Nor do analysts expect the Fed to speed up withdrawal of its special lending and purchase programs, which have kept the financial markets out of even worse trouble during the crisis.Continue reading Fed is likely to maintain status quo in December meeting Fed is likely to maintain status quo in December meeting originally appeared on DailyFinance on Tue, 15 Dec 2009 12:00:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
| TomTom's price cut on iPhone app shows GPS-maker's pain
December 15, 2009 at 11:30 am
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| Filed under: Company News, Technology, Google , Microsoft, Apple, Palm  GPS software- and hardware-maker TomTom slashed prices on its iPhone turn-by-turn navigation app, The Unofficial Apple Weblog (TUAW) reported Monday. The new price for the app providing directions in the U.S. is $49, well down from the original price of $99, as reported by Engadget. The fallout from Google's (GOOG) free turn-by-turn navigation app is clearly being felt by the incumbents -- the same downdraft that pummeled their stock prices the days after the announcement. So expect the price for TomTom's Apple (AAPL) iPhone app to keep heading south.
Black Friday deals for GPS devices from TomTom and Garmin (GRMN) were running well below $100 (as compared to closer to $200 two years ago). In fact, TomTom was selling Black Friday doorbuster models for $59, while refurbished high-end GPS devices have dipped below $50 on eBay. This latest price cut is a further signal that TomTom realizes it won't be able to sustain premium pricing for either its standalone or iPhone software products for very long.Continue reading TomTom's price cut on iPhone app shows GPS-maker's pain TomTom's price cut on iPhone app shows GPS-maker's pain originally appeared on DailyFinance on Tue, 15 Dec 2009 11:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Industrial output rises by 0.8% in November, biggest gain since August
December 15, 2009 at 11:00 am
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| Filed under: Economy  The recovery in the U.S. manufacturing sector is continuing: The output of U.S. factories, mines and utilities rose 0.8% in November -- the biggest industrial output gain in three months -- the U.S. Federal Reserve announced Tuesday. Further, it was a broad-based gain, with all groups and sectors except for utilities registering increases after a generally disappointing October.
Meanwhile, the factory utilization rate, also known as capacity utilization, rose to 71.3% in November from a revised 70.6% in both October and September. The capacity utilization rate is 9.6 percentage points below its average for 1972-2008, the Fed said; still lower than where utilization should be, but nevertheless better than the level recorded in October.Continue reading Industrial output rises by 0.8% in November, biggest gain since August Industrial output rises by 0.8% in November, biggest gain since August originally appeared on DailyFinance on Tue, 15 Dec 2009 11:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Capital One charge-offs leap to 9.6% in November
December 15, 2009 at 10:30 am
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| Filed under: Company News, Economy, Investing  Capital One's charge off rate jumped from 9.04% in October to 9.60% in November, indicating the increased number of accounts that Capital One (COF) does not believe it will collect. This comes as little surprise. Moody's has previously predicted that charge-offs for credit card companies will peak between 11% and 13% by mid-2010. When Capital One next reports earnings, expect to see a higher charge-off rate and a decrease in profits.
Moody's noted that the early-stage delinquency rate, which measures account balances for which a payment is 30 days late as a percentage of the total outstanding principal balance, is running 14% higher than for the same period last year. Moody's expects this increase to translate into even higher charge-off levels in the first half of 2010.Continue reading Capital One charge-offs leap to 9.6% in November Capital One charge-offs leap to 9.6% in November originally appeared on DailyFinance on Tue, 15 Dec 2009 10:30:00 EST. Please see our terms for use of feeds. Read | Permalink | Email this | Comments |
| Scroogier holiday spending means blue Christmas for communities
December 15, 2009 at 10:00 am
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| Filed under: Technology, Economy  As 2009 draws to a close, higher unemployment and lower incomes are translating into a Christmas that will be even leaner than last year's. According to a recent CNN poll, 49% of consumers plan to spend less this holiday than they did in 2008. Another 39% say their spending will remain the same as last year. Only 12% of respondents plan to spend more.
The CNN poll, which surveyed over 1,000 consumers, showed that increasing frugality will also influence the types of gifts that people give. Some 68% of respondents plan to give presents that recipients need, while 27% say their gifts will be playful.Continue reading Scroogier holiday spending means blue Christmas for communities Scroogier holiday spending means blue Christmas for communities originally appeared on DailyFinance on Tue, 15 Dec 2009 10:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Producer prices jump 1.8% in November on energy prices
December 15, 2009 at 9:30 am
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| Filed under: Economy  Producer prices unexpectedly surged 1.8% in November, the U.S. Labor Department announced Tuesday, as a jump in energy prices pushed the wholesale index higher. Further, excluding the often-volatile food and energy component, "core" producer prices rose 0.5%.
A Bloomberg News economists survey had expected producer prices to increase 1% in November after rising 0.3% in October and falling 0.6% in September. Economists also had expected the core rate to tick up 0.2% in November after slipping 0.6% in October and 0.1% in September.Continue reading Producer prices jump 1.8% in November on energy prices Producer prices jump 1.8% in November on energy prices originally appeared on DailyFinance on Tue, 15 Dec 2009 09:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Stocks in the news: Best Buy, Wells Fargo, GE, Goldman Sachs
December 15, 2009 at 9:05 am
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| Filed under: Company News, Investing Well Fargo (WFC) said Monday it has reached an agreement with the government to return the $25 billion in bailout money it received during last year's financial crisis. Repayment of the funds is contingent on a $10.4 billion common stock offering. Shares jumped over 2% in pre-market trading.
Best Buy (BBY) reported third-quarter earnings of 53 cents a share, topping analysts' estimates by 10 cents a share. Sales in the quarter climbed 4.6% from a year ago to $12.02 billion, also exceeding estimates. Looking ahead, Best Buy raised earnings and revenue guidance for 2010 ahead of consensus estimates. But shares fell more than 4.5% before the bell as investors were concerned about the lower margin.Continue reading Stocks in the news: Best Buy, Wells Fargo, GE, Goldman Sachs Stocks in the news: Best Buy, Wells Fargo, GE, Goldman Sachs originally appeared on DailyFinance on Tue, 15 Dec 2009 09:05:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Are senior AIG execs going broke?
December 15, 2009 at 9:00 am
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| Filed under: Company News, American International Group, INC.  AIG (AIG) CEO Robert Benmosche wants to make it clear that many of his senior staff have made tremendous financial sacrifices in the insurance firm's restructuring. This isn't simply due to salary cuts by the government's pay czar. Many top AIG executives have also lost all the money they had in AIG stock.
Benmosche told The Wall Street Journal that "10 individuals who report directly to him have lost a combined $168 million in prior years' pay since the U.S. bailout of AIG in September 2008." Many of the losses stemmed from stock options and unvested shares.
Continue reading Are senior AIG execs going broke? Are senior AIG execs going broke? originally appeared on DailyFinance on Tue, 15 Dec 2009 09:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Daily Blogwatch: What do day traders do on Sundays? Did Tiger Woods affect the stock market?
December 15, 2009 at 8:30 am
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| Filed under: Company News, Columns, Economy, Earnings Below are some of the best reads for investors from around the web:
What day traders do on Sundays. It's a tough job, so how do they spend their day off? ________________ Guess which country is first in the 2010 GDP country growth estimates. ________________ Phil Knight, CEO of Nike (NKE), has some interesting thoughts on Tiger Woods. ________________ Continue reading Daily Blogwatch: What do day traders do on Sundays? Did Tiger Woods affect the stock market? Daily Blogwatch: What do day traders do on Sundays? Did Tiger Woods affect the stock market? originally appeared on DailyFinance on Tue, 15 Dec 2009 08:30:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| Stocks set to decline with manufacturing, inflation data on tap
December 15, 2009 at 8:00 am
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| Filed under: Economy, Investing  U.S. stocks are set to open lower Tuesday morning, at least that's the indication ahead of some key economic data, including inflation and manufacturing, to be reported before the opening bell. The Federal Open Market Committee also begins its two-day policy meeting. While no decision will be made today, investors, who in general expect the Fed to keep rates at low levels, may be wary ahead of Wednesday's statement. Meanwhile, Wells Fargo joined Citigroup and repaid its bailout fund.
More here: Before the bell: Futures lower ahead of data; Fed meeting in focusStocks set to decline with manufacturing, inflation data on tap originally appeared on DailyFinance on Tue, 15 Dec 2009 08:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| New taxes take the shine off Chinese real estate -- shares plummet in HK and Shanghai
December 15, 2009 at 7:00 am
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| Filed under: Economy, Investing, Real Estate  In Asia Tuesday, shares closed lower. The Shanghai Composite Index lost 0.9%, closing at 3,274 and in Hong Kong, the Hang Seng Index was down 1.3% at 21,814. Japan's Nikkei 225 Index shed 0.2%, ending the day at 10,083.
In China, declines were led by property developers as investors reacted to the government's reinstatement of property taxes for homes sold within 5 years of purchase. Prices for residential homes in China's 70 largest cities spiked 5.7% in November alone, and fears of a bubble are seeming more and more likely to be realized. "We have modest real estate bubbles that are emerging, but they are really at a very early stage," Prasenjit K. Basu, Chief Economist at Daiwa, said on CNBC this morning. But some say the tax of 5.5% will not dampen consumer enthusiasm.
Continue reading New taxes take the shine off Chinese real estate -- shares plummet in HK and Shanghai New taxes take the shine off Chinese real estate -- shares plummet in HK and Shanghai originally appeared on DailyFinance on Tue, 15 Dec 2009 07:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments |
| And then there were none: Wells Fargo to repay TARP
December 15, 2009 at 5:00 am
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| Filed under: Company News, Citigroup, Wells Fargo & Co.  Wells Fargo (WFC) plans to follow Citigroup's (C) lead and repay the money it owes to the TARP fund. Wells Fargo, the last large bank that still holds government money, said it had received approval to repay the $25 billion it owes. Part of payment will come from a stock offering of $10.4 billion. The bank said the move would save it $1.25 billion in annual preferred stock payments.
After the news of the repayments from the two huge banks, Treasury Secretary Geithner said in a statement, "With the recent announcements on repayments, we are now on track to reduce TARP bank investments by more than 75%, while earning a healthy profit on that commitment." Continue reading And then there were none: Wells Fargo to repay TARP And then there were none: Wells Fargo to repay TARP originally appeared on DailyFinance on Tue, 15 Dec 2009 05:00:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments | | | 
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