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Daily Highlights: 10.16.09
- Greenspan says US should consider breaking up banks that get too large.
- Most Asian stocks rise as Yen weakens, oil gains; Sony climbs on upgrade.
- Euro down to $1.4900 in European morning trade as equity markets trade lower.
- European markets buoyed by Dow's further rise above 10,000 mark; all eyes on US earnings again.
- Oil extends rally, jumps above $78 in Asia, as US gasoline supplies drop.
- US 30-year mortgage rates climb to 4.92% in first increase since August.
- US state tax collections in Q2 falls record 16.6% - the most in almost half a century.
- Yen drops versus Euro, Dollar on prospect Asian stocks will extend rally.
- AMD reported narrower net loss for Q3 at $135M; revs dip 22% to $1.4B.
- Bank of America reported a $1B Sept. 2009 loss.
- BHP Billiton to buy iron ore explorer United Minerals Corp. for $188M.
- Carrefour to exit Russia shortly after having entered it; Q3 sales dip 2.9%.
- Citigroup posts $101M profit after adding reserves at slowest pace in two years.
- Crown Hldgs beats by a cent, posts Q3 EPS at $0.81. Revs fell 3.7% to $2.28B.
- GE's Sept. net income declines from $4.5B last year to $2.5B this year.
- Google's net rose 27% to $1.64B, beating estimates. Revs came in at $4.38B.
- GVT under focus on speculation Vivendi to counter Telefonica's $3.7B bid.
- Harley-Davidson's Q3 net dips 84% from weak sales during the economic downturn.
- IBM's Q3 net rises 14%, topping f'cast. But new contract signings declined last qtr.
- McClatchy Co.'s Q3 net jumps to $23.6M reflecting tax benefit, absence of any charges.
- Mattel 3Q profit declines 3 percent as revenue slips on tough economy.
- Oracle Corp. said it may consider making another computer-hardware acquisition.
- RHJ International to acquire Kleinwort Benson from Commerzbank for $359.3M.
- Roche lifts 2009 EPS view on better-than-expected 9.7% rise in Q3 revs.
- Safeway's Q3 net falls 35% to $128.8M on lower prices. Revs dip 7% to $9.46B.
- Siemens AG acquires Israel's Solel Solar Systems Ltd. for about $418M.
- Southwest Airlines' Q3 loss of mere $16M lends support for clearer skies for airlines.
- Ticketmaster, Live Nation face stiff resistance to their proposed merger from Justice Dept.
- Toyota, Daihatsu to team on emerging-market car priced at lower than $11,000.
- Wal-Mart hits at Amazon, to sell 10 hotly anticipated new books for just $10 apiece.
- Xstrata PLC says it has no intention to mount a takeover bid for Anglo American.
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'Greenspan says...'?? I thought he was the dumbest guy in the world!
Second dumbest. The dumbest is Bernanke for taking the job and mess left by Greenspan. Bernanke is either one arrogant SOB thinking that HE can fix Greenspan's mess OR he really is TOO STUPID to recognize the mess.
Why do you think it's in their itentions to fix anything? It's all part of the plan, guys.
Seems to me that Greenspin is now just an old guy trying to get into heaven. Where were all these helpful ideas when he was chairman?
The goldman cop;
SEC hires Goldman employee to head enforcement...LOL
http://www.bloomberg.com/apps/news?pid=20601087&sid=a6ItnK32Cl6Y
Are you reading impaired???? not a cop, but the CFO...managing the budget and payments from financial industry!! I just threw up and sold everything.
Breaking Up Banks: Let's start with the damn Federal Reserve!
heard they're a big one, break em!!
Tyler, I usually get my first morning laugh reading the Daily Highlights. The very first one had me spitting up coffee.
"Greenspan says US should consider breaking up banks that get too large."
GET too large, as in they aren't too large now but they might just get too large some time in the future?
Only in America can supposedly intelligent people speak such utter stupidity and have it be considered wisdom and news worthy.
I am still taking sh&t for telling my golfing buddies (doctor, lawyer and port-o-let owner) that buying Bank of America at 5 and Citigroup at 3 was a waste as they were/are insolvent.
Time my friend. Give it time. Just because a stock is at 17 doesn't mean it's worth 17 nor will it stay at 17.
I promise you one thing. Those friends of yours are so convinced of the worth of those stocks that they would never dream of selling here and now.
Eventually they will ride those puppies all the way down to zero. Wait for the final act. That's when the last laugh is heard.
Until them, tell your golfing buddies to but more of those great stocks. Tell them they won't regret it if they buy more. It's going to the moon, Alice.
That should set up the final act for even bigger laughs.
Greenspan is on the payroll, in some capacity, for a few large firms / banks. His opinions should be viewed in a prism...or better yet a kaleiodoscope.
Pimco, Deustche...at least following his retirement.
Greenspan belongs in a cell with Made-OFF.