Strumors - The Latest on Wall Street

RSS Feed Homepage

Articles: 1, 2, 3, 4, 5, 6, 7

Investors Speculating on Facebook IPO
2008-05-25 22:38:00
Facebook has had tremendous growth over the last couple of years attracting millions of college students. CEO Mark Zuckerberg has remained silent about the company's prospects, except stating on 60 minutes that a 2008 IPO would be "highly unlikely". However, despite the news, investors have been speculating and closely watching Facebook's every move in preparation for the company's initial public offering when and if it occurs.
More About: Facebook , Investors

Nvidia to Enter CPU Market
2008-05-25 22:13:00
Nvidia is set to release two new model CPU chips based on the ARM11 architecture. The first is aimed at hand held devices, and will be direct competitor against Intel's Atom processor. The second is aimed at larger machines such as tablet PCs; however, without X86 support one has to question what exactly is Nvidia's market with this processor.
More About: Market , Enter

Books-A-Million Reports 57 Percent Drop in Income
2008-05-25 15:52:00
Books-A-Million announced that it will need to cut jobs as the book retailer faces tough economic conditions. First quarter net Income for the company dropped over 57 percent to $900,000 or 6 cents per share from $2.1 million or 13 cents per share the year prior. Same store sales, a key indicator in the retail sector, dropped over 3 percent.
More About: Books , Drop

American Airlines to Charge $15 Per Checked in Luggage
2008-05-25 15:47:00
American Airlines will become the first major U.S. carrier to charge for passengers checking in just one bag. Starting June 15, American Airline's passengers will be required to pay an additional $15 for each checked in bag each way. The largest American airliner has had to take drastic measures including cutting domestic flights, laying off workers, and now baggage fees in order to cope with rising fuel prices.
More About: Charge , American , Luggage , American Airlines

Honda Preparing for Hybrid Race
2008-05-25 15:44:00
Toyota beat Honda to the punch by initially bringing the Prius to the market in 1997, and then in 2003 Toyota released a vastly improved model, which quickly an instant hit in Japan. Honda has released hybrid vehicles; however, they have not yet had the same success with their hybrid models as Toyota. Honda is now hoping to change that. It is planning to release three new hybrid vehicles with improved technology, which are aimed to be both more inexpensive and more profitable. Honda will need these three models to be an instant success as the company is quickly losing ground to Toyota.
More About: Hybrid , Race

Goldman Sachs and Candover Patners Bidding Against Halliburton
2008-05-24 14:59:00
Halliburton is looking to acquire drilling equipment maker Expro for $3.36 billion; however, now Candover Partners and Goldman Sachs have countered with a bid of their own for $3.4 billion. Although, the offer is only slightly higher then Halliburton's offer, it may strike a bidding war. Analysts speculate that Haliburton's offer holds more merit, as Haliburton is much more likely to keep the company in long run as opposed to investment firms reselling the company shortly afterwards.
More About: Halliburton , Bidding

Barnes & Noble Looking to Acquire Borders
2008-05-24 14:54:00
Borders has offered itself up for sale and Barnes & Noble Inc confirmed reports that it is looking to acquire the troubled company. Borders has been redesigning, closing stores, and creating its own online e-commerce site as opposed to relying on Amazon in hopes to increase its earnings. However, despite these measures, Borders had to put itself on the auction block earlier this year. Barnes & Nobles is looking at acquiring the company; however, it may be waiting until an actual Borders bankruptcy occurs in order to strike a better deal.
More About: Borders , Acquire

Comcast Selling Off 46 Smaller Cable Systems
2008-05-24 01:11:00
In order to trim costs, Comcast the largest cable TV operator in the U.S. is planning to sell 46 of its smaller cable systems. Altogether, the systems serve 400,000 to 500,000 subscribers.
More About: Selling , Systems , Cable

Apple Releases 2Q Profits Above Expectations
2008-05-24 00:49:00
Apple reported second quarter profits of $1.16 a share compared to $0.87 a share for the same quarter a year prior. On average analysts were only expecting earnings of $1.07. However, the stock initially traded down on the news, as investors are concerned that the company will not be able to keep up its growth as consumer spending continues to dry up.
More About: Apple , Profits , Expectations

Atom Gaining Support
2008-05-23 05:53:00
Intel's Atom processor is gaining attention of several analysts. Investors are excited about the potential impact that Intel's new processor could bring for the company. The Atom processor has the potential to be Intel's real entry into the mobile market. The Atom processor is essentially a low powered version of Intel's duo core desktop CPU designed for mobile devices. The new chip is powerful enough to run Microsoft Windows on a cell phone, and could gain huge support from low-cost computer manufactures.
More About: Support , Gaining

Time Warner Spinning Off its TV Division
2008-05-22 04:42:00
Time Warner revealed Wednesday that it plans to spin off its TV division in a deal valued at $9.25 billion. Time Warner 's board members have already approved the deal. The split off will allow both companies to better position themselves in a competitive market.
More About: Time , Spinning , Division

Fed Relunctant to Lower Rates
2008-05-22 02:02:00
Most Federal Reserve Officials viewed the April rate cut as a close call, indicating that the Federal Reserve is not likely to cut rates again in the near future despite economic weakness.
More About: Lower , Rates

Google Launches Google Health
2008-05-21 03:15:00
Google has officially launched their highly anticipated online health service. The new service stores user's medical history and gathers related information connected to users health conditions. Google has already teamed up with pharmacies, doctors, and medical testing to labs bridging the gap between traditional medical information. Its launch partners include Walgreen's CVS, Quest Diagnostics, and Wal-Mart.
More About: Google , Health , Google Health

Netflix to Offer Streaming Movies Directly to Your TV
2008-05-21 03:11:00
Netflix reviled a set top box for streaming movies directly to your television set. The box itself costs $100; however, there are no additional fees for using the service. The service also requires a minimum connection speed of 1.5 megabits. Analysts have already began comparing the new service to Apple TV. Apple TV allows users to watch videos on a per item basis as apposed to paying a monthly subscription.
More About: Movies , Netflix , Streaming , Offer

Amazon Up Huge After Goldman Sachs Upgrade
2008-05-20 02:59:00
Amazon soared over 8 percent on Monday, after a Goldman Sachs ' analyst upgraded the company to buy with a $98 price target. Mitchell, stated that Amazon should be able to sustain its revenue growth longer then other Internet retailers; Amazon's growth rate in the last few quarters has matched that of Google's. Mitchel expects the company to grow its sales by 20 percent or more each year over the next decade.
More About: Amazon , Huge

Senate Reaches Deal on Mortgage Aid
2008-05-20 02:54:00
The senate has reached a deal to provide government backed loans for at-risk borrowers. The housing bill is aimed at preventing foreclosures, creating affordable housing, and revamp the regulations on both Fannie Mae and Freddie Mac. The bill allows for up to $300 billion in government backed loans to at-risk borrowers pending the condition that lenders agree to write down loan balances below the appraisal value of the borrowers' home. The funds will be paid by Fannie Mae and Freddie Mac shielding tax payers if borrowers default on payments.
More About: Mortgage , Senate , Deal

New MacBook Coming in Q3 2008?
2008-05-18 16:02:00
According to the Commercial Times, AU Optronics and Chi Mei Optoelctronics have received new flat panel orders for Apple's new MacBook. The shipment target date is scheduled for third quarter.
More About: Macbook , 2008

Oil Rises Despite Higher Supply
2008-05-18 15:31:00
Despite Saudi Arabia's decision to increase oil output by 3 percent, oil futures traded even higher on Friday. Investors viewed the increase in oil production as minuscle leaving investors still feeling that the move will not alleviate supply concerns.
More About: Higher

Yahoo Sends Rebuttal Letter to Ichan
2008-05-17 14:29:00
Yahoo sent Carl Ichan a rebuttal letter refuting Ichan's claim that Yahoo's board members were acting irresponsible for not accepting Microsoft's merger offer. Bostock stated that Ichan holds a "significant misunderstanding" of the merger talks.
More About: Yahoo , Letter , Yahoo! , Rebuttal

OPEC Increasing Oil Production by 300,000 Barrels
2008-05-17 03:05:00
Saudi Arabia, the world's largest oil exporter, stated that it plans to increase oil production by 300,000 barrels a day in response to higher demand and by request from President Bush. The move which will go into effect next month will increase its current production supply by 3.3 percent. The news comes just after Goldman Sachs raised their price targets for oil to $141 from $107 stating that due to higher global demand and tightened inventories that the price of oil would continue to rise throughout the rest of the year.
More About: Production

Carl Icahn to Tear Yahoo Apart
2008-05-17 03:01:00
Carl Icahn is looking to replace all of Yahoo 's board stating that the board members have made a bad decision to not accept Microsoft's offer. Icahn's plan is to replace the board members, and then try to reopen negotiations with Microsoft; however, if deals with Microsoft go sour the replacement board may have trouble running the company.
More About: Carl Icahn , Tear , Carl

Apple to Use Intel's Atom CPU in next iPhone
2008-05-16 03:03:00
According to sources at ZDNet.de, Intel's Germany CEO Hannes Schwaderer leaked that Apple will be using Intel's Atom processor in its next major version of the iPhone. The new model is rumored to include a larger display and be capable of desktop like performance. The Intel Atom CPU is based on Intel's duo processors and is even capable of fully running Windows Vista on hand held devices.
More About: Iphone

CBS Agrees to Acquire CNet for $1.8 Billion
2008-05-16 02:58:00
CBS has agreed to acquire CNet for $1.8 billion in cash. The deal for $11.50 a share is a 45% premium compared CNet's stock price prior to the announcement. CBS is looking to increase its earnings as the company continues to see declines in Television subscribers.
More About: Acquire , Billion

GE To Sell its Appliance Division
2008-05-15 03:31:00
General Electric is pursing the option of selling its appliance unit after more then a century. According to rumors, GE who is currently the largest producer of appliances including refrigerators and washing machines for new homes, has hired Goldman Sachs to explore the company's options and to possibly conduct auction to sell off its appliance division. An auction may bring $5 to $8 billion in sales.
More About: Sell , Division , Appliance

Foreclosures Up 65 Percent
2008-05-15 03:25:00
Foreclosures in the U.S. were up 65 percent in April compared to a year prior. Many are concerned that the worst housing slump, since the Great Depression may pull the U.S. economy into a deep recession later this year. With home prices continuing to drop, it is becoming more difficult for consumers to refinance. According to Rick Sharga, RealtyTrac's executive vice president, by the end of the year nearly 25 percent of all homes may be banked owned. He anticipates nearly 60,000 foreclosures each month for the rest of the year.
More About: Foreclosures

Craigslist Sues Ebay
2008-05-14 03:10:00
Craigslist filed a coutersuit against Ebay stating that Ebay used its minority stake in Craigslist to gain corporate trade secrets. Ebay initially filed a suit in Delaware Chancery Court against Craigslist stating that the company held private meeting in order to dilute Ebay's 28.4 percent stake to 24.8 percent or less then a quarter the company.
More About: Craigslist

Apple to Start Selling iPhone in Asia
2008-05-14 02:45:00
Apple has signed deals with four Asia n countries in order to bring the iPhone to the Asian market later this year. Bhariti Airtel, the largest wireless carrier in India, has agreed to sell the iPhone to its 260 million mobile users. India is currently one of the fastest growing markets in the world, and the move should let Apple easily surpass its 2008 sales goal of 10 million units.
More About: Selling , Apple , Iphone , Start

Carl Ichan Looking to Start Yahoo Proxy Fight
2008-05-14 02:41:00
The Microsoft-Yahoo Merger may not be over. Billionaire investor Carl C. Icahn is considering the prospect of starting a proxy fight to gain several seats on Yahoo's board in hopes of restarting negotiations with Microsoft. Icahn has told associates that he has already acquired over 50 million shares, in preparation of pressuring for seats on the board.
More About: Fight , Start , Proxy

RIM Releases 3G BlackBerry
2008-05-13 03:18:00
In its first major revision in over a year, RIM officially released its new 3G BlackBerry. Along with support for 3G, The new device will have double the screen resolution, support dual-band Wi-Fi, GPS, and a host multimedia features. Citigroup Analyst, Jim Suva, stated that the device exceeded his expectations, and he is anticipating that the device could increase quarterly sales by as much as 200,000 to 400,000 for the year. RIM's stock soared nearly 7 percent immediately following the announcement.
More About: Blackberry

JPMorgan's CEO Says U.S. Recession is Just Now Beginning
2008-05-13 03:18:00
JPMorgan's CEO James Dimon stated Monday that he believes that even though the credit problems in the U.S. appear to be nearly three-quarters of the way over, the recession in the U.S. is just starting. He is unsure rather the recession will be mild or severe; however, he stated the bank is forecasting conditions similar to 1982 much worse then in 2001 and 1990. He also said that despite the massive exposure from its acquisition of Bear Stearns, he still believes the deal was the right decision and will eventually be profitable for the company.
More About: Recession