"The world is going to want to find a compromise," said David Kelly, chief market strategist at J.P. Morgan Funds.» Read More
Stocks recovered from earlier losses to close near the unchanged mark as investors took positions ahead of tomorrow's Fed meeting. "Investors are basically still cautious despite this big run and although we're very overbought, I think the fact that we could get this overbought is bullish in itself," said Bruce Bittles, chief investment strategist at Robert W. Baird.
As we posted earlier, Alcan is one of the best performing stocks in the contest from the latest stats we've collected. CNBC's David Faber had a video report today on the hostile takeover deal for Alcan that Alcoa is trying to engineer. Evidently, this has been a two year "courtship" between the two companies. But any possible friendly deal was stopped last December by Alcan. And Faber says it's possible there could be more "suitors" for Alcan. Here's his report with some info on Alcan.
The Dow ended at another new high after Alcoa announced a takeover bid for rival Alcan, but the overall indexes closed mixed as Wall Street awaits Wednesday's Fed meeting. "The liquidity and M&A is continuing to drive the market," said Robert Pavlik, chief investment officer at Oaktree Asset Management.
Today Cramer's talking aluminum, iron and three breakout stocks he thinks could make you money in this market.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Alcoa said on Monday it would make a hostile bid for Canada's Alcan for nearly $27 billion, after talks between the rival aluminum producers failed to lead to a deal. If successful, the bid of $73.25 per share in cash and stock would create the world's largest aluminum producer. Alcan said it plans to consider the proposal.
Merger news and analyst upgrades were some of the catalysts behind the most actively traded stocks on Monday.
The dollar weakened ahead of three central bank meetings that may underscore market expectations for U.S. interest rates to fall this year as rates in other major economies climb higher.
Shares of Nortel Networks gained as much as 8% after North America's biggest maker of telephone gear raised its outlook for revenue and gross margins in its first quarter.
Stocks scored their fourth straight week of gains, powering the Dow Jones Industrial Average past the 13,000 mark for the first time. The main engine behind the rally continued to be better-than-expected corporate earnings
The Dow ripped through the 13,000 level to close with a 135-point gain spurred by strong earnings reports and positive news from Alcoa. "The momentum in the equities market is looking really good," said Alec Young, market strategist at S&P. "We were expecting earnings growth of about 3% and we've seen double that."
Alcoa, the world's largest aluminum company, said it may sell three of its businesses including its packaging unit, which makes Reynolds Wrap, sending shares of the world's largest aluminum company up more than 7%.
As corporate earnings reports begin in earnest next week, merely meeting Wall Street expectations may not be good enough. Companies may have to beat forecasts to compete for investor dollars.
Stocks closed broadly lower on Wednesday as investors' hopes for a cut in interest rates diminished following the release of minutes from the Fed's policy meeting three weeks ago."I think what the market wanted to hear was that the Fed was looking to come to the rescue and add liquidity to the system, as they seemed to tip their hat to in the last FOMC announcement," Kevin Caron, market analyst at Ryan Beck, told CNBC.
Alcoa, the world's largest aluminum company, said on Tuesday first-quarter profit rose 9%, driven by higher metal prices and strong demand from aerospace and industrial customers.
The world's largest aluminum company and best Dow performer last quarter unofficially kicked off earnings season today, announcing better-than-expected numbers. The report comes as the Dow Jones Industrial Average is about 200 points from its record high reached earlier this year. Do Alcoa's results set a bullish tone for the rest of earnings season, or is it time to batten down the hatches until the reports are over?
Stocks closed modestly higher on Tuesday as the Dow Jones Industrial Average stretched its winning streak to eight straight sessions. Still, caution ahead of the beginning of earnings season kept many investors on the sidelines.
Chiquita Brands has a new packaging twist for its bananas, and the produce company is betting you’ll buy single bananas at candy-bar prices, at your local convenience store. Greg Bauer, vice president of GEN3 -- Chiquita's partner in the packaging venture -- revealed secrets behind the new version of nature's treat, on "Power Lunch."
Stocks are searching for direction after a 7-session winning streak for the Dow 30. European stocks are moving higher after yesterday's holiday there, and Asian stocks were mixed overnight.
Stocks closed mixed on Monday after a modest follow through rally from Friday's strong jobs numbers quickly fizzled as investors looked ahead to quarterly earnings season. "I think with the next few days we're in a holding pattern waiting for earnings to appear," said Zachary Karabell, portfolio manager at Fred Alger Management.