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Stocks trade mixed following quarterly reportsNEW YORK -- Stocks fluctuated in early trading today as investors examined a mix of earnings reports and watched the price of oil tick higher.Source: Infocious RSS raw feed - channel BNPaperBusiness | 29 Jul 2008 | 7:00 am Stocks trade mixed following quarterly reportsNEW YORK -- Stocks fluctuated in early trading today as investors examined a mix of earnings reports and watched the price of oil tick higher.Source: L.A. Times - Business | 29 Jul 2008 | 7:00 am Shareholder perks that you might not know aboutInvestors in some of the UK's biggest and best-known companies have witnessed share prices being hammered since the onset of the credit crisis, but some companies are offering shareholder perks to those...Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jul 2008 | 3:37 pm Shareholder perks that you might not know aboutInvestors in some of the UK's biggest and best-known companies have witnessed share prices being hammered since the onset of the credit crisis, but some companies are offering shareholder perks to those who spot them.Source: Telegraph Business | 28 Jul 2008 | 3:37 pm Kraft (KFT) Shines While Tyson (TSN) StinksKraft Foods Inc. (KFT) blew away Wall Street's earnings expectations and raised its guidance as it was able to raise prices sufficiently to cover increasing commodity costs. Meanwhile, Tyson Foods Inc. (TSN) posted a lousy quarter after getting slammed by a huge jump in costs. Both stocks should be avoided for the time being.Source: 24/7 Wall St. | 28 Jul 2008 | 3:05 pm Look again - there's good earnings newsThe deluge of quarterly financial reports continue this week. What have we learned so far?Source: Business and financial news - CNNMoney.com | 28 Jul 2008 | 2:58 pm Tesco to buy RBS stake in joint venture for $1.9 billionBritain’s biggest supermarket chain will pay $1.9 billion to buy out Royal Bank of Scotland’s half of their personal-finance joint venture.Source: MarketWatch.com - Top Stories | 28 Jul 2008 | 2:55 pm Market Snapshot: U.S. stocks fall as oil gains and financials hit againNEW YORK (MarketWatch) -- U.S. stocks on Monday were on the defensive as oil prices rose and with earnings reports, including a sharp profit drop at Tyson Foods Inc., eclipsing cheer over a pending rescue plan for Fannie Mae and Freddie Mac.Source: MarketWatch.com - Top Stories | 28 Jul 2008 | 2:54 pm Wall Street digests Verizon and Kraft resultsWall Street stocks markets were largely unchanged as some mixed results from the likes of Verizon, Kraft and Tyson played against a rise in oil pricesSource: FT.com - US homepage | 28 Jul 2008 | 2:54 pm Metals Stocks: Gold futures edge lower as traders watch dollar and oilGold futures edged lower Monday, extending their decline from the previous week, as traders kept a close watch on movements in the oil and currency markets.Source: MarketWatch.com - Top Stories | 28 Jul 2008 | 2:54 pm Natural gas boom vs. groundwater risksNew technology and higher prices have brought vast domestic oil and natural gas deposits within reach to a country desperate for new energy sources. But danger comes with this bounty: Chemicals used to extract this energy may contaminate the groundwater.Source: Business and financial news - CNNMoney.com | 28 Jul 2008 | 2:51 pm KKR says market slump good time for going public (Reuters)
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News: Business | 28 Jul 2008 | 2:47 pm KKR says market slump good time for going publicNEW YORK (Reuters) - KKR & Co's proposed merger with struggling affiliate KKR Private Equity Partners, and then going public on the New York Stock Exchange will help the giant buyout firm expand at an ideal time for making acquisitions, executives said on Monday.Source: Reuters: Business News | 28 Jul 2008 | 2:46 pm How the housing rescue bill can help youThe Senate on Saturday passed a $300 billion housing rescue bill aimed at helping troubled homeowners avoid foreclosure and supporting mortgage giants Fannie Mae and Freddie Mac.Source: Business and financial news - CNNMoney.com | 28 Jul 2008 | 2:46 pm IMF sees no end in sight to credit crisisGlobal financial markets are 'fragile' and indicators of systemic risk remain 'elevated' almost a year into the credit crisis, the International Monetary Fund saidSource: FT.com - US homepage | 28 Jul 2008 | 2:45 pm Stocks slump on credit worriesStocks slipped Monday as investors feared that the ongoing credit crisis would dampen an economic recovery.Source: Business and financial news - CNNMoney.com | 28 Jul 2008 | 2:43 pm Movers & Shakers: Monday's biggest gaining and declining stocksAmong the companies whose shares are expected to see active trade in Monday's session are Cal-Maine, Cameron, H-P, Ilog, Lorillard, Mattel, Ryanair, Sirius, Taro, Tyson, Vanda and Xantrex.Source: MarketWatch.com - Top Stories | 28 Jul 2008 | 2:38 pm Verizon net bolstered 12% by wirelessRead full story for latest details.Source: Business and financial news - CNNMoney.com | 28 Jul 2008 | 2:37 pm Tyson's profit hit by feed costs; shares slideTyson Foods Inc. on Monday reports a narrower quarterly profit from a year ago, weighed down by losses in its chicken business and hefty costs for feed grains.Source: MarketWatch.com - Top Stories | 28 Jul 2008 | 2:37 pm Kraft profit climbs 4% despite higher input costsNEW YORK (MarketWatch) -- Kraft Foods Inc. said Monday its quarterly profit rose about 4% as higher product prices more than offset a sharp jump in raw material costs, particularly for its dairy items.Source: MarketWatch.com - Top Stories | 28 Jul 2008 | 2:36 pm Verizon earnings rise 12% on wireless strengthVerizon Communications Inc. on Monday posts a 12% gain in second-quarter earnings, buoyed by robust wireless sales despite a weakening economy.Source: MarketWatch.com - Top Stories | 28 Jul 2008 | 2:33 pm Kraft earnings rise after price increasesKraft Foods raised its full year earnings and sales forecast as the largest food maker in the US reported a rise in profits for the quarter after price increases helped it offset big rises in the price of commodities like wheatSource: FT.com - US homepage | 28 Jul 2008 | 2:32 pm Earnings Watch: Updates, advisories and surprisesA roundup of the latest corporate earnings reports and what companies are saying about future quarters.Source: MarketWatch.com - Top Stories | 28 Jul 2008 | 2:31 pm Futures Movers: Oil futures pare gains as traders eye Nigeria, IranCrude-oil futures gain Monday, rebounding after their sharp losses last week, as pipeline attacks in Nigeria and comments by Iran’s president escalate geopolitical worries.Source: MarketWatch.com - Top Stories | 28 Jul 2008 | 2:29 pm Bond Report: Treasurys rise ahead of Fed speech and economic reportsTreasurys rose early on Monday, ahead of a scheduled speech by Federal Reserve Gov. Frederic Mishkin later in the session and a number of key economic reports later this week.Source: MarketWatch.com - Top Stories | 28 Jul 2008 | 2:28 pm Loews has $4.96 billion profit on Lorillard split-offNEW YORK (Reuters) - Loews Corp posted a second-quarter profit of $4.96 billion on Monday, reflecting the split-off of its Lorillard Inc tobacco unit.Source: Reuters: Business News | 28 Jul 2008 | 2:14 pm Yahoo director Kotick to resign after meetingNEW YORK (Reuters) - Yahoo Inc director Robert Kotick's resignation will take effect after the company's annual meeting this week, where he will stand for reelection, to comply with a settlement with investor Carl Icahn.Source: Reuters: Business News | 28 Jul 2008 | 2:12 pm Emirates plans five A380s a day for HeathrowEmirates is ready to fly five Airbus A380s a day into Heathrow as the airline continues to defy the gloom dominating most of the aviation industry.Source: Telegraph Business | 28 Jul 2008 | 2:10 pm Emirates plans five A380s a day for HeathrowEmirates is ready to fly five Airbus A380s a day into Heathrow as the airline continues to defy the gloom dominating most of the aviation industry.Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jul 2008 | 2:10 pm Even Healthy Companies Can't Get LoansIn a turn that no one could have expected, the banking community is in such a tight credit fix that even companies with near-perfect credit cannot get loans. As one small company borrower told The New York Times, "This is going to slow down the American economy.”Source: 24/7 Wall St. | 28 Jul 2008 | 2:06 pm Record 2008 deficit - Bush officialRead full story for latest details.Source: Business and financial news - CNNMoney.com | 28 Jul 2008 | 2:05 pm VeriFone Sets Do or Die Date With SEC (PAY)VeriFone Holdings Inc. (NYSE: PAY) is seeing a rather solid recovery this morning early on, but the volume is rather light considering its past and shares have already pulled back nearly 5% from its post-open highs so far. The company issued a release today with the announcement that it plans to FINALLY file its amended and restated financial reports as follows: Quarterly report for January 31, 2007 Quarterly report for April 30, 2007 Quarterly report for July 31, 2007 Quarterly report for October 31, 2007 Quarterly report for January 31, 2008 Quarterly report for April 30, 2008 Annual report for...Source: 24/7 Wall St. | 28 Jul 2008 | 2:02 pm Two top UK insurers vie for growthAviva and Prudential, the biggest insurers in the UK, are expected to report first-half operating profits of more than £3 billion between them this week amid fears that the credit crunch has put a dampener on people's ability to save.Source: Latest Business News from Times Online | 28 Jul 2008 | 1:58 pm Iraq bomb attacks target Shia pilgrimsThree bomb attacks in quick succession killed at least 28 people and wounded 92 in Baghdad as Shia pilgrims flooded into the Iraqi capital for a major religious event, police saidSource: FT.com - US homepage | 28 Jul 2008 | 1:58 pm Milking Auntie for her moneyI want my kids to spend more time with my wealthy great aunt, but my wife thinks I'm being crass. Who's right?Source: Business and financial news - CNNMoney.com | 28 Jul 2008 | 1:53 pm Equities Start FlatThe major indexes were barely changed on mixed earnings and a drop in the cost of gasoline.Source: SmartMoney.com | 28 Jul 2008 | 1:53 pm Toyota cut global sales forecastToyota cut its 2008 global sales forecast by 350,000 vehicles, or 3.5 per cent, to reflect plunging sales in the US of its pick-up trucks and SUVs, in the latest sign of strain on the auto industrySource: FT.com - US homepage | 28 Jul 2008 | 1:53 pm Toyota cut global sales forecastToyota on Monday cut its 2008 global sales forecast by 350,000 vehicles, or 3.5 per cent, to reflect plunging sales in the US of its pick-up trucks and SUVs.The revision is the latest sign of strain in...Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jul 2008 | 1:53 pm US says China, India put trade talks in jeopardyA surge of optimism around the so-called 'Doha round' of global trade talks has been tempered by a war of words breaking out between the US, India and China over farm and industrial goods tradeSource: FT.com - US homepage | 28 Jul 2008 | 1:51 pm Tesco to go solo in banking after RBS buyoutTesco, the UK supermarket giant, today announced that it will buy Royal Bank of Scotland's 50 per cent share in Tesco Personal Finance Group (TPF) for £950 million.Source: Latest Business News from Times Online | 28 Jul 2008 | 1:50 pm Drivers shave off 9.6B miles in MayAmericans drove 9.6 billion fewer miles in May compared to a year earlier, according to a report from the Federal Highway Administration.Source: Business and financial news - CNNMoney.com | 28 Jul 2008 | 1:47 pm Verizon quarterly profit gains, led by wireless (Reuters)
Source: Yahoo! News: Business | 28 Jul 2008 | 1:44 pm Verizon quarterly profit gains, led by wirelessNEW YORK (Reuters) - Verizon Communications Inc posted a higher-than-expected quarterly profit on Monday on strong wireless sales and improved margins, offsetting a fall in landline users.Source: Reuters: Business News | 28 Jul 2008 | 1:44 pm Former Googleers unveil Cuil, a new search engineMENLO PARK, California (Reuters) - A start-up led by former star Google engineers on Sunday unveiled a new Web search service that aims to outdo the Internet search leader in size, but faces an uphill battle changing Web surfing habits.Source: Reuters: Business News | 28 Jul 2008 | 1:41 pm Yahoo director Kotick to resign after meeting (Reuters)
Source: Yahoo! News: Business | 28 Jul 2008 | 1:41 pm Market falls at open on financial jitters (Reuters)
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News: Business | 28 Jul 2008 | 1:39 pm Market falls at open on financial jittersNEW YORK (Reuters) - Stocks fell at the open on Monday as markets remained jittery about the outlook for the financial sector,Source: Reuters: Business News | 28 Jul 2008 | 1:38 pm Wall Street digests Verizon and Kraft resultsWall Street stocks were set for modest gains on Monday morning as some solid results from Verizon and Kraft helped offset a rise in oil prices.Kraft, the foodmaker, said second-quarter profits rose from...Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jul 2008 | 1:33 pm Tyson Foods' profit tumbles as feed costs hurtCHICAGO (Reuters) - Top U.S. meat producer Tyson Foods Inc reported lower-than-expected quarterly profit on Monday as higher feed prices produced a loss in its chicken unit, while $75 million in hedging and forward pricing losses pared profits in its beef business.Source: Reuters: Business News | 28 Jul 2008 | 1:11 pm Kraft Foods profit beats estimatesCHICAGO (Reuters) - Kraft Foods Inc posted higher-than-expected quarterly profit on Monday as price increases and hedging positions offset rising costs for energy and commodities like wheat.Source: Reuters: Business News | 28 Jul 2008 | 1:05 pm Reckitt customer price rises lifts sales by 18%Reckitt Benckiser, the world’s biggest manufacturer of household cleaning products, today defied the market gloom by unveiling an 18 per cent rise in profits and a sharp increase in its dividend.Source: Latest Business News from Times Online | 28 Jul 2008 | 1:02 pm Credit crunch 'still worsening'The International Monetary Fund says the global credit crunch is still getting worse and may spread to developing countries.Source: BBC News | Business | World Edition | 28 Jul 2008 | 1:00 pm Singapore Air Profit Drops on Fuel CostSingapore Airlines posted a 15 percent drop in quarterly profit due to costlier jet fuel but still managed to beat market expectations.Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jul 2008 | 12:58 pm Fuel Subsidies Overseas Take a Toll on U.S.To understand why fuel prices in the U.S. have soared over the last year, it helps to get an idea of how foreign governments are subsidizing energy prices.Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jul 2008 | 12:57 pm Bladex Reports Second Quarter Net Income of $26.3 Million Compared With $19.2 Million for the Prior QuarterROE Was 16.7%, Compared to 12.6% in the First Quarter PANAMA CITY, July 28 /PRNewswire-FirstCall/ -- Banco Latinoamericano de Exportaciones, S.A. (NYSE: BLX)...Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jul 2008 | 12:41 pm Provident Financial Services, Inc. to Present at the Keefe, Bruyette & Woods, Inc. Ninth Annual Community Bank Investor ConferenceJERSEY CITY, N.J., July 28 /PRNewswire-FirstCall/ -- Provident Financial Services, Inc. (NYSE: PFS) (the "Company"), announced that it has been invited to...Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jul 2008 | 12:40 pm Compliance11 and Evare Partner to Help Financial Firms Better Manage Employee Personal Trading ActivityPartnership Brings Electronic Brokerage Feeds for Employee Trading Accounts to Small and Mid-Sized Firms CHICAGO and BURLINGTON, Mass., July 28 /PRNewswire/ --...Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jul 2008 | 12:38 pm Wrigley Reports 15 Percent Earnings Per Share Increase on Record Quarterly SalesCHICAGO, July 28 /PRNewswire-FirstCall/ -- The Wm. Wrigley Jr. Company (NYSE: WWY) today announced a 14 percent gain in second quarter sales versus a year ago to a recordSource: Infocious RSS raw feed - channel BNewsBusiness | 28 Jul 2008 | 12:37 pm Tyson earnings plunge; chicken segment costs citedTyson Foods Inc., the world's largest meat company, saw its profit drop 90 percent for its third quarter because of the rising cost of grain with which to feed chicken. The company...Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jul 2008 | 12:36 pm Prophecy drills 45.5 metres of 0.33% copper and 0.003% Molybdenum at Okeover, continues to expand the resource at the North Lake ZoneTSX-V Symbol: PCY VANCOUVER, July 28 /PRNewswire-FirstCall/ - Prophecy Resource Corp. (TSX-V: PCY) has received the final results of a six hole, 1,449 metre...Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jul 2008 | 12:30 pm Pre-Paid Legal Announces 2008 Second Quarter Financial ResultsMembership Revenues Up 2%; Net Income Up 14% and EPS Up 26% ADA, Okla., July 28 /PRNewswire-FirstCall/ -- Pre-Paid Legal Services, Inc. (NYSE: PPD), announced...Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jul 2008 | 12:30 pm MSA Announces Record Second Quarter Sales and Income- Net Sales Increase 18 Percent - European Sales Increase 37 Percent - Net Income Increases 15 Percent PITTSBURGH, July 28 /PRNewswire-FirstCall/ -- MSA (NYSE:...Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jul 2008 | 12:30 pm Identity Theft 101: Removing the Target from College StudentsSAN DIEGO, July 28 /PRNewswire/ -- According to various studies, including the FTC complaint study, the 18-29-year-old age bracket continues to account for almost 30% of...Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jul 2008 | 12:30 pm ASA Limited Announces Expiration and Preliminary Results of Tender OfferBUFFALO, N.Y., July 28 /PRNewswire-FirstCall/ -- ASA Limited (NYSE: ASA), a closed-end fund specializing in gold and other precious mineral investments worldwide, today...Source: Infocious RSS raw feed - channel BNewsBusiness | 28 Jul 2008 | 12:30 pm Former manager convicted in Siemens caseThe legal battles surrounding Siemens' €1.3bn bribery scandal reached a crescendo as a Munich trial ended with a two-year suspended sentence and a hefty fine for a former middle-ranking managerSource: FT.com - US homepage | 28 Jul 2008 | 12:26 pm Former manager convicted in Siemens caseThe legal battles surrounding Siemens' 1.3bn bribery scandal reached a crescendo on Monday as a Munich trial ended with a two-year suspended sentence and a hefty fine for a former middle-ranking manager...Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jul 2008 | 12:26 pm KKR's Amsterdam shares soar on $15bn IPOGlobal private equity giant Kohlberg Kravis Roberts is finally set to go public, in spite of the depressed state of the financial markets and a year after first signalling its intention to do so.Source: Telegraph Business | 28 Jul 2008 | 12:20 pm KKR's Amsterdam shares soar on $15bn IPOGlobal private equity giant Kohlberg Kravis Roberts is finally set to go public, in spite of the depressed state of the financial markets and a year after first signalling its intention to do so.Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jul 2008 | 12:20 pm The 3 Biggest Retirement Fear Factors (SmartMoney Magazine)The economy has many investors worried about their retirement, but should they be?Source: SmartMoney.com | 28 Jul 2008 | 12:13 pm Are you against in-flight mobile phone calls?Ryanair, Europe's largest low fares airline, will start to allow in-flight mobile phone calls on a limited basis as early as next month.Source: Telegraph Business | 28 Jul 2008 | 12:10 pm Are you against in-flight mobile phone calls?Ryanair, Europe's largest low fares airline, will start to allow in-flight mobile phone calls on a limited basis as early as next month.Source: Infocious RSS raw feed - channel BNPaperBusiness | 28 Jul 2008 | 12:10 pm Deal still elusive at trade talksRich and poor countries struggle to reach a compromise as talks on a global trade pact enter a second week.Source: BBC News | Business | World Edition | 28 Jul 2008 | 12:09 pm Rising inflation hits German confidence (AP)AP - Consumer confidence in Europe's biggest economy slid for a third straight month, falling to a more than 5-year low as higher energy prices, growing fears of a recession and concern about the global economy bothered German shoppers.Source: Yahoo! News: Business | 28 Jul 2008 | 12:08 pm Fannie, Freddie jump in pre-market tradingThe battered stocks for Fannie Mae and Freddie Mac climbed in pre-market trading Monday, lifted by a housing rescue plan the Senate passed over the weekend.Source: Business and financial news - CNNMoney.com | 28 Jul 2008 | 12:01 pm K.K.R.'s Big PlansHenry Kravis is, at long last, taking buyout giant Kohlberg Kravis Roberts & Co. public, but a look at the deal and the firm's ambitions means management may want it to look more like BlackRock than Steve Schwarzman's Blackstone.When Blackstone went public last year, it was a spectacle as dollar signs danced in the heads of Wall Street. Now, the stock has essentially been cut in half as buyout deals have gotten less attractive as their costs have risen. K.K.R., the original barbarians at the gate, is doing a merger with its Amsterdam-listed K.K.R. Private Equity Investors to go public in order to keep the value of that vehicle strong. It appears that K.K.R., unlike several of the private equity and hedge fund operations that have gone public in the past three years, is buying itself low instead of selling high to the investing public. The new publicly traded firm would be valued between $12 billion and $15 billion when its shares are listed on the New York Stock Exchange, the Wall Street Journal reported. That would make K.K.R. more valuable than battered Lehman Brothers and about half the market value of wounded Merrill Lynch. The W.S.J. says the secretive K.K.R. wants to depend less on private equity deals and become a larger money manager. That's pretty much the model Larry Fink's BlackRock has followed to become one of the few Wall Street giants that's remained strong in the tornado of the credit crunch. Since January, both Blackstone and BlackRock have been volatile, but as of Monday morning, BlackRock was flat while Blackstone was off almost 25 percent. Some see the deal having advantages for investors exactly because it doesn't seem like such a sweet deal for insiders. According to 24/7WallSt.com, "this is somewhat of a distressed I.P.O.—and that may mean investors will be better positioned for success than they were by the cynical insider cash-outs at companies like Blackstone and Fortress Investment Group." Related Links Masters of the Universe, Ranked WaMu Gets Its Deal Blackstone: The First of Many Private Equity IPOs Source: Portfolio.com: Top 5 | 28 Jul 2008 | 12:00 pm Kraft Foods profit beats estimates (Reuters)
Source: Yahoo! News: Business | 28 Jul 2008 | 11:55 am Toyota cuts 2008 outlookTOKYO (Reuters) - Toyota Motor Corp on Monday cut its 2008 groupwide global sales forecast by 350,000 units to 9.5 million vehicles due to a pronounced downturn in the U.S. market, in a rare setback for the world's biggest automaker.Source: Reuters: Business News | 28 Jul 2008 | 11:53 am Gas: Under $4 a gallon and fallingGas prices declined for the 11th straight day on Monday, falling to a level not seen since May, according to a nationwide survey of filling station credit card swipes. Other fuel prices also continued to fall.Source: Business and financial news - CNNMoney.com | 28 Jul 2008 | 11:46 am Verizon (VZ) Rise Driven By Broadband And WirelessWireless and broadband sales drove a strong quarterly performance for Verizon (VZ) EPS rose to $.66 from $.58 in the same period a year ago. The company added 1.5 million new wireless subscribers to hit 68.7 million and subscriber churn dropped to 1.12%. VZ also picked up 176,000 new FiOS fiber-to-the-home TV/broadband/voice customers, bad news for competing cable companies.Source: 24/7 Wall St. | 28 Jul 2008 | 11:42 am More oil workers freed in NigeriaA second group of foreign oil workers kidnapped in Nigeria in recent days is freed unharmed.Source: BBC News | Business | World Edition | 28 Jul 2008 | 11:37 am KKR to go public through fund mergerKohlberg Kravis Roberts is finally going public through a complicated transaction in which it will merge with its Dutch unit before listing in New YorkSource: FT.com - US homepage | 28 Jul 2008 | 11:37 am Top Pre-Market Analyst Upgrades (AFL, AMGN, BBY, CHTT, CVH, HNT, KMB, PCLN, RDC)These are not all of the upgrades or positive calls we have seen, but these are some calls moving shares this Monday morning: AFLAC (AFL) Raised to Outperform at Raymond James. Amgen (AMGN) Raised to Overweight at Morgan Stanley. Best Buy (BBY) Raised to Buy at Banc of America. Chattem (CHTT) Raised to Overweight at JPMorgan. Coventry Health (CVH) Raised to Buy at UBS. Health Ney (HNT) Raised to Buy at UBS. Kimberly-Clark (KMB) Raised to Neutral at Goldman Sachs. Pricleine.com (PCLN) Raised to Overweight at Thomas Weisel. Rowan (RDC) Raised to Neutral at JPMorgan. Jon C. Ogg July 28,...Source: 24/7 Wall St. | 28 Jul 2008 | 11:30 am F.C.C. SmackdownComcast is poised for legal showdown with the Federal Communications Commission as the agency moves to fine the cable giant for blocking file-sharing traffic on its Web network. The Comcast Mystery Deepens Comcast's Compromise Piling On Source: Portfolio.com: Top 5 | 28 Jul 2008 | 11:30 am House prices 'fall 1% in June'The Land Registry says that house prices fell by 1% in June compared with May, slowing house price inflation for a tenth month.Source: BBC News | Business | World Edition | 28 Jul 2008 | 11:29 am Former Siemens manager convictedAn ex-manager at German industrial giant Siemens is convicted of corruption after admitting to setting up slush funds to pay bribes.Source: BBC News | Business | World Edition | 28 Jul 2008 | 11:25 am Top Pre-Market Analyst Downgrades (JOBS, AUO, AVR, CRDN, CLX, DKS, GR, MPEL, PLXS, VSE)These are not all of the downgrades or negative calls we have seen, but these are some calls moving shares this Monday morning: 51jobs (JOBS) Cut to Sell at Goldman Sachs. AU Optronics (AUO) Cut to Neutral at HSBC. Aventine Renewable (AVR) Cut to Underweight at Lehman. Ceradyne (CRDN) Cut to Market Perform at FBR. Clorox (CLX) Cut to Sell at Goldman Sachs. Dick’s Sporting Goods (DKS) Raised to Buy at Goldman Sachs. Goodrich (GR) Cut to Sell at Deutsche Bank. Melco Crown Entertainment (MPEL) Cut to Neutral at Credit Suisse. Plexus (PLXS) Cut to Neutral at Baird. VeraSun Energy...Source: 24/7 Wall St. | 28 Jul 2008 | 11:24 am Tax bill threatens brewery jobsA brewery chain employing 1,000 people is facing closure over an unpaid tax bill.Source: BBC News | Business | World Edition | 28 Jul 2008 | 11:18 am Bernard Matthews rebrands to recapture 'bootiful' daysBernard Matthews is planning a complete overhaul of its brand in the hope of recapturing the "bootiful" days of profitability it enjoyed as Britain's biggest poultry producer.Source: Telegraph Business | 28 Jul 2008 | 11:00 am Southern slump drags house prices down 1%House prices in England and Wales fell by one per cent during June in the tenth consecutive month of decline, dragging down the average value of a home to £180,781.Source: Latest Business News from Times Online | 28 Jul 2008 | 10:49 am Ryanair warns of potential lossesRyanair warns it could make an annual loss of up to 60m euros if oil prices stay high - though says it will still cut fares.Source: BBC News | Business | World Edition | 28 Jul 2008 | 10:46 am Some Of America's Most Prominent Companies Face Massive Dilution (SIRI) (AMR)(FRE)(C)(AMD)(FNM)(GM)(CHTR)The national economy has gotten so bad, driven by high commodities prices and a credit crisis which cannot seem to find a bottom, that some of America's most well-known companies will have to raise capital, diluting current shareholders, sometime by as much as 75%. The low share prices of these firm's makes matters significantly worse as they turn to the markets for cash.Source: 24/7 Wall St. | 28 Jul 2008 | 10:36 am German shopper mood at 5-year lowGerman consumer confidence drops to its lowest level in five years as rising prices and a lacklustre economy worry shoppers.Source: BBC News | Business | World Edition | 28 Jul 2008 | 10:03 am Shoppers turn to frozen foods to save money, Northern Foods saysSupermarket shoppers are buying more frozen food instead of chilled fresh goods and are eating out less as they try to cut their food bills during the economic downturn, according to ready meals maker Northern Foods.Source: Telegraph Business | 28 Jul 2008 | 10:01 am Ryanair shares plunge as airline dives into redRyanair lost more than a fifth of its value this morning after the no-frills airline revealed it had dived into the red in the first quarter as fuel costs soared.Source: Telegraph Business | 28 Jul 2008 | 10:00 am Google's (GOOG) New Rival, Cuil, Doesn't WorkGoogle (GOOG) has a new rival, Cuil. Out of the box, it seems hopelessly broken. The news search engine claims it covers three times as many web pages as Google.Source: 24/7 Wall St. | 28 Jul 2008 | 9:50 am JPMorgan Cazenove lures ex-Barclays finance bossJP Morgan Cazenove has hired Naguib Kheraj, Barclays' former finance director, as its new chief executive.Source: Latest Business News from Times Online | 28 Jul 2008 | 9:40 am European airlines see shares fallShares in many of Europe's largest airlines have fallen amid more worries for the industry.Source: BBC News | Business | World Edition | 28 Jul 2008 | 9:34 am US gloom knocks Toyota forecastsJapanese carmaker Toyota says it expects to sell fewer cars this year than previously forecast because of the weak US car market.Source: BBC News | Business | World Edition | 28 Jul 2008 | 9:22 am If Dell (DELL) Says Business Is Good, Someone Else's Is NotIn an interview with BusinessWeek, Dell (DELL) founder, chairman and CEO Michael Dell said that the company's turnaround efforts are bearing fruit. He said growth rates for the second half of 2008 could exceed the first half: "We've kind of reignited the thing. . . We're going to have a big second half." The company has boosted sales and market share by moving into retail channels -- including Wal-Mart. A year ago Dell computers couldn't be found in any store -- now 13,000 carry them. Dell also said that the industry is being buoyed by strong overseas growth but that,...Source: 24/7 Wall St. | 28 Jul 2008 | 9:18 am Pearson defies ad sales gloom on luxury demandPearson, owner of the Financial Times and Penguin Books, boosted interim pre-tax profit by 57 per cent after a rise in luxury goods advertising offset weaknesses in IT, corporate finance, recruitment and mortgage revenue.Source: Latest Business News from Times Online | 28 Jul 2008 | 9:17 am Japanese shares end slightly higher (AP)
Source: Yahoo! News: Business | 28 Jul 2008 | 9:13 am Motorola (MOT), A Creature Of The Past, Auctions It FutureManagement at Motorola (MOT) is in the midst of an ugly capitulation. It now as much as admits that it cannot run the company with any success, even though it is spinning off the albatross of its handset unit. At one point, Motorola has 22% of the global cell phone industry. On a good day that is now 10%. The operation, the company's largest, is losing over $1 billion a year and its revenue is falling at a rate of about 30%. The company has decided to follow dumping handsets with a reorganization of its second largest division.Source: 24/7 Wall St. | 28 Jul 2008 | 9:11 am UK business: The week ahead July 28-Aug 1And so begins one of the busiest reporting weeks of the calendar as most investors continue to count their losses.Source: Telegraph Business | 28 Jul 2008 | 9:10 am Inflation's next front is retailers as costs rise (AP)
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News: Business | 28 Jul 2008 | 8:33 am Fannie Mae and Freddie Mac: Congress backs rescue packageWorld markets are poised for a major relief rally today after the US Congress met in a rare weekend session to pass the most far-reaching rescue package for America's financial system since Franklin Roosevelt's New Deal.Source: Telegraph Business | 28 Jul 2008 | 8:15 am BAE secures Detica in £531m takeover dealShares in Detica, the security technology company, soared by over 17 per cent today after BAE Systems unveiled a £531 million offer to buy the company.Source: Latest Business News from Times Online | 28 Jul 2008 | 7:49 am BAE Systems snaps up security specialists Detica for £531mBritish defence company BAE Systems has announced a £531m agreed offer for Detica, the specialist security consultants.Source: Telegraph Business | 28 Jul 2008 | 7:35 am Icon Aircraft's A5 is built for just plane funA Marina del Rey company's light sport plane is meant to be flown more places by more people, and can land at remote airfields and on lakes.Want to get away but tired of driving to a crowded airport and cramming into an airliner? Source: L.A. Times - Business | 28 Jul 2008 | 7:00 am IRS cellphone rule called outmodedEmployers must pay back taxes if workers fail to keep detailed usage logs. Some see a disconnect between law and life.Small, cheap cellphones have become ubiquitous in the workplace. But federal tax rules governing them date to the days of big handsets, big bills and big hair. Source: L.A. Times - Business | 28 Jul 2008 | 7:00 am Secrecy cloaked 'Dark Knight'Warner Bros. took painstaking care to thwart pirates ahead of the film's premier, and the effort paid off.For Warner Bros., the mission was to keep "The Dark Knight" from seeing the light of day. Source: L.A. Times - Business | 28 Jul 2008 | 7:00 am Build up funding base to aid small-business growth, expert saysActions suggested for CK Arts include increasing the line of credit or forming a joint venture with a larger company.CK Arts Inc. has done a good job cementing its future to the increasing interest in Southern California's historic buildings by putting in place many of the basics needed to position the small business for growth, financial consultant Maryellen Galuchie says. Source: L.A. Times - Business | 28 Jul 2008 | 7:00 am If you prefer the unsweetened truth, abstainThe thing that bothers me about "The Ten Commandments for Business Failure" is the author's grandfather's toe.Source: L.A. Times - Business | 28 Jul 2008 | 7:00 am Building restorer's financial base needs a liftCK Arts is seeing big growth, but obtaining the funding to deal with associated costs poses a challenge.To take a stroll through downtown Los Angeles is to take a three-dimensional tour of the portfolio of historic-restoration specialist CK Arts Inc. Source: L.A. Times - Business | 28 Jul 2008 | 7:00 am Batman delivers $300 million in record time" The Dark Knight" continues to obliterate box-office records, crossing the $300-million mark in just 10 days.Source: L.A. Times - Business | 28 Jul 2008 | 7:00 am Electric dirt bike ready to rideThe Zero X matches the performance of its gas-powered peers but propels its owner into the future.When the Zero X wheeled onto the dirt track at Lake Elsinore, the Colgate-white motocross bike looked positively virginal next to the belching, candy-colored models that leaped from mound to mound around it. Source: L.A. Times - Business | 28 Jul 2008 | 7:00 am KKR expected to take untraditional path to going publicThe equity firm would acquire its publicly traded buyout fund using new shares to be listed on the NYSE.KKR & Co., the private equity firm run by Henry Kravis and George Roberts, plans to go public in a transaction that may value it at as much as $15 billion, according to two people familiar with the matter. Source: L.A. Times - Business | 28 Jul 2008 | 7:00 am Ryanair issues warning as profits plunge 85%Ryanair today revealed profits fell 85 per cent during the first quarter, which Europe’s largest airline blamed on a near-100 per cent rise in its fuel bill.Source: Latest Business News from Times Online | 28 Jul 2008 | 6:38 am Istanbul blasts kill 16 and wound 154A massive security operation was under way in Istanbul in the aftermath of two bomb explosions that killed 16 people and injured 154 in one of the deadliest attacks in the city for years.Source: FT.com - US homepage | 28 Jul 2008 | 6:38 am Qantas names Jetstar's Joyce to replace Dixon as CEOSYDNEY (Reuters) - Qantas Airways Ltd said on Monday Alan Joyce will take over as chief executive, taking the baton from Geoff Dixon who steps down after a string of belt tightenings as world airlines battle soaring fuel bills.Source: Reuters: Business News | 28 Jul 2008 | 6:25 am Currency: Dollar little changed against USThe New Zealand dollar was little changed against the US dollar today and posted a modest gain against the Australian dollar. By 5pm today the kiwi was buying US74.37c from the US74.31c at 8am and US74.28c at 4.30pm on Friday. Bank...Source: New Zealand Herald - Business | 28 Jul 2008 | 5:32 am WTO scrambling for fresh options on trade pactGENEVA - Top negotiators prepared to turn to fresh proposals today in a bid to nail a new global free trade pact despite growing discord and warnings that years of painstaking negotiations could unravel at the last minute. Squabbles...Source: New Zealand Herald - Business | 28 Jul 2008 | 4:00 am Qantas announces new CEO as 747 blast probe continuesQantas has announced a new chief executive as investigations continue into the cause of an explosion on board one of its 747s.Source: Latest Business News from Times Online | 28 Jul 2008 | 3:26 am New banking reports spook the marketThe ANZ trading update is a worry. It feels like the twin beasts of the US credit crunch and the local commercial property meltdown are eating their way up the food chain. Last Tuesday it was big news when a CitiGroup analyst...Source: New Zealand Herald - Business | 28 Jul 2008 | 3:00 am ANZ shares hammered - still expects $1b profitANZ National bank still expects to make a billion-dollar-plus profit in New Zealand this fiscal year despite its Australian parent today announced A$1.2 ($1.56) billion of provisions for bad loans in its second half. Some of those...Source: New Zealand Herald - Business | 28 Jul 2008 | 2:00 am Qantas names new CEO after departure of DixonQantas has named Alan Joyce, the head of its Jetstar offshoot, as chief executive of the airline group. Joyce becomes chief executive designate from today and will take over when outgoing chief Geoff Dixon steps down after the...Source: New Zealand Herald - Business | 28 Jul 2008 | 1:00 am Airport fights Canadians for $6 million in takeover costsThe unsuccessful Canadian bidders for a stake in Auckland International Airport (AIA) are in dispute with the airport company over $6 million of unpaid expenses incurred in the bid. AIA today said it had sought $7.6m for expenses,...Source: New Zealand Herald - Business | 28 Jul 2008 | 12:00 am Role at Commerce CommissionCommerce Minister Lianne Dalziel today announced the appointment of Donal Curtin as Deputy Chair of the Commerce Commission for a five-year term. "This appointment recognises the valuable contribution that Curtin has made at the...Source: New Zealand Herald - Business | 27 Jul 2008 | 11:30 pm Kohlberg Kravis Roberts gets set for $15bn flotation in New York$Kohlberg Kravis Roberts, the best-known name in leveraged buyouts, pressed the button on its long-awaited flotation in the United States last night in a deal expected to value the firm at up to $15 billion ($£7.5 billion).Source: Latest Business News from Times Online | 27 Jul 2008 | 11:00 pm NZ stocks: Modest gains as Telecom liftsNew Zealand sharemarket made modest gains in early trading today, with top stock Telecom up 3c shortly after the market opened. Around 10.15am the benchmark NZSX-50 index was up 14.12 points to 3268.28, having lost 1 per cent on...Source: New Zealand Herald - Business | 27 Jul 2008 | 10:45 pm Feltex directors' court challenge behind closed doorsNine lawyers lined up in the High Court at Christchurch for a bid by former directors, owners and advisers of carpetmaker Feltex to block a claim from shareholders who are trying to recover their money lost when the company collapsed. The...Source: New Zealand Herald - Business | 27 Jul 2008 | 10:00 pm Exports reduce trade deficit for JuneNew Zealand had a $223 million trade deficit in June, a better performance than economists had predicted. The deficit for the June year was also lower than expected at $4.48 billion - 11.2 per cent of exports. Economists in...Source: New Zealand Herald - Business | 27 Jul 2008 | 9:30 pm Obama turns focus to economic policiesFresh from an international tour in which he sought to burnish his foreign policy credentials, Barack Obama will this week shift gears and seek to convince voters he would be better equipped than John McCain to run the sputtering US economy.Source: FT.com - US homepage | 27 Jul 2008 | 9:17 pm
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