ZURICH, March 30- Switzerland's Holcim said on Monday it had sold its 27.5 percent stake in Thailand's second-largest cement company Siam City Cement, in deals worth 655 million Swiss francs. Zurich- based Holcim, which plans to merge with France's Lafarge, said 24.9 percent of Siam City Cement was acquired by an affiliate of Hong Kong- based conglomerate Jardine...» Read More
Shares of Home Depot are rallying today on news its Chairman and CEO Bob Nardelli has resigned (see earlier posts). But what’s happening behind the scenes? In an interview first on CNBC we found out from one of Home Depot’s largest shareholders, Leon Cooperman. He’s the Founder and Chairman of Omega Advisors, and Former Chairman and CEO of Goldman Sachs Asset Management Division. He spoke by phone.
Today's ISM numbers show there are some stable signs for manufacturing in the U.S. But is this just a blip or can the sector keep getting strong in 2007? That question was posed to two guests on "Morning Call." Joel Naroff is chief economist at Commerce Bank. He thinks it won't. Anthony Chan is from JP Morgan Private Client Services. He thinks there are some good days ahead for manufacturing.
With the new year comes new economic data. Today it’s a double dose. The Institute for Supply Management Index released data for December Also, the government's Construction Spending figures for November are out. CNBC’s Steve Liesman sifted through the numbers and explained what they mean.
CRH, an Irish maker of construction materials, said Wednesday it expects full-year pretax profit to rise about 23% as recent acquisitions contribute for the first time and the company boosted sales at existing businesses.
Showing up for the first trading day of the New Year is a little like arriving for the first day of school. Good grades from last year no longer count, and the books are no longer relevant. That feeling is especially strong when the old year rang in some very comfortable double digit gains for stocks, and the path to the next year's profits is not so clear. The first week of 2007 is awash in data, including the Friday jobs report, auto sales, retailers'.....
After such a strong performance by the markets in 2006, investors are wondering if next year will hold much of the same. But there are concerns that a continuing decline in housing and the weakening U.S. dollar could lead to a recession. Gary Shilling is one such pessimist. He was on “Morning Call” saying there’s a 75% chance the economy will dip in 2007.
Residential real estate may be reeling, but commercial property sales are doing just fine. According to Cushman & Wakefield President and CEO Bruce Mosler, “Commercial real estate is doing nothing but appreciating.” He talked with Erin Burnett on “Street Signs” about what to expect in 2007.
The numbers for existing U.S. home sales in November are out and they’re modestly better than expected. CNBC's Hampton Pearson was at the National Association of Realtors in Washington when the numbers came out. He gave the figures on “Morning Call.” Total existing home sales rose 0.6% in November to 6.28 million – up from 6.24 million in October. That’s a 0.1% increase.
U.S. stocks look set to open lower, taking a breather from Wednesday's record setting gains that sent the Dow above 12,500 for the first time. As we've mentioned--key data to set direction today will be the existing home sales report, jobless claims, consumer confidence and oil inventories. Apple shares are lower in premarket trading.
Good morning. Our quote of the day comes from the stage and film actress Ruth Gordon (of "Harold and Maude" fame): "To be somebody you must last." The lasting memory of Gerald Ford is being honored. Funeral arrangements announced Wednesday include placing the former president's casket for repose outside the U.S. House chamber--and then placing it for repose outside the Senate chamber.
His economic forecast for 2006 was spot on – and now he’s been named "Most Accurate Economist of the Year." On today's "Street Signs" CNBC's Erin Burnett revealed who "he" is – and the warning he has for 2007. BusinessWeek has named Kenneth Mayland “Economic Forecaster of the Year.” (He’s is the Chief Economist with Clearview Economics)....
Top strategists offer predictions on oil, the S&P 500 -- and which sectors you should invest in.
The U.S. housing market has certainly gone through a rough patch lately--but there is some good news on stronger home sales--as we've reported. The Commerce Department says new U.S. home sales rose 3.4% in November. Analysts were looking for a gain of 1-2%. But new home sales are still down from a year ago by 15.3%. So--are there any good stock recommendations out there?
New home sales numbers were released this morning. They’re more than double what was expected, jumping 3.4%, or 1.047 units sold. Peter Morici, a former chief economist for the U.S. International Trade Commission, was on “Morning Call,” and he’s saying this is “very good news for the economy.”
The latest data from the Philadelphia Federal Reserve came out today and it startled CNBC's Senior Economic Reporter, Steve Liesman. Here's why.
Where does the Bush Administration think the U.S. economy is really heading? CNBC's Steve Liesman sat down with the White House economic team, then went straight from the meeting to "Power Lunch" and told CNBC viewers all about it.
Analysts questioned by CNBC seem to discredit the November housing starts number released today. The report showed an increase of 1.58 million units, or 6.7% – a sharp difference from the 13.7% decline in October. Commerce Bank Chief Economist Joel Naroff gave the report a resounding pshaw on “Morning Call.” Don’t expect a real turnaround in the sector until at least early 2008, he says.
Stocks look set to open lower after a sell off in energy and tech took the wind out of the year end rally yesterday, despite nearly $90 billion in deal announcements. Investors will be closely watching the ripple effect in emerging markets from Thailand's clampdown overnight on speculation in the baht....
Good morning. Our quote of the day comes from the poet Horace: "As a rule, adversity reveals genius and prosperity hides it." We'll see just how prosperous the U.S. housing market is today--when the housing starts and building permit numbers come out around 8:30 a.m. ET. We'll have guests including President and CEO Ara Hovnanian of Hovnanian Enterprises..
According to the old adage, "Housing and autos lead the economy into recession". In theory, it should be a scary time to be in the stock market. Housing starts are off 29% and domestic auto sales have slumped 8%. But many on Wall Street are offering an even scarier piece of investment advice, "It's different this time around." Well, is it? The “Squawk Box” team investigated.