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Stocks ended higher after minutes from the Federal Reserve 's last meeting encouraged investors hoping for further rate cuts. "I don't think there is any question it's a good thing for stocks, it just reinforces the view from the investor's perspective that the Fed's there to save the day if necessary," said Michael Chren, portfolio manager at Allegiant Asset Management.
A sprinkling of deal news, sinking oil prices and a firmer dollar are in the background as stocks edge higher Tuesday. The big news for markets though will come in the Federal Reserve's meeting minutes, set for release at 2 p.m. ET. The minutes of the September 18 meeting and the August 16 call will be released. Traders are watching for hints of what made the Fed take the aggressive step to slash the Fed funds rate by a half point, greater than the 1/4 point widely expected.
The Fed and the start of earnings season are two big focuses for stocks Tuesday, after Monday's dullish session. The Fed releases minutes of its September 18 meeting and its August 16 call at 2p ET. This time last week, traders would have been digging into those minutes to find any confirmation of their view that rates will be cut again at the Fed's October 31 meeting.
Stocks closed mixed on Monday as strength in tech stocks was overshadowed by investor concerns ahead of earnings season.
Alcoa, the biggest U.S. aluminum producer, said Thursday it will sell its packaging and consumer and automotive castings businesses, and restructure its electrical and electronic solutions business.
Stocks ended Friday down slightly as dollar weakness sparked inflation concerns but losses were limited by solid U.S. consumer data. "Housing is slowing down but the U.S. consumer isn't," said Robert Froehlich of DWS Scudder. "The numbers today show that this dichotomy is in place and housing is in trouble but the consumers keep shopping."
The board of directors of Alcatel-Lucent has given chief executive Patricia Russo one month to produce an emergency restructuring plan, the Financial Times reported on Friday.
There's a reason CEOs end up in Cramer's Hall of Shame. Here are three whose companies are a definite sell, sell, sell!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.
While the general feeling is that this will be a quiet two days due partly to the Rosh Hashanah holiday, there is a fly in the ointment: next week's quadruple witching expiration (the quarterly expiration of index futures and options, and individual stock futures and options) coupled with the Fed meeting has a lot of traders nervous about expected high levels of volatility...
Telecoms equipment maker Alcatel-Lucent lost over a tenth of its stock market value after issuing its third outlook warning this year.
Shares in Aluminum Corp of China, dived more than 11% on Thursday after news that Alcoa, the world's top aluminum producer, sold its stake in the Chinese firm for US$2 billion.
Alcoa said Wednesday it sold its stake in Aluminum Corp. of China (Chalco) for about $2 billion, a $1.8 billion gain on an investment that had yielded no real cooperation on the ground.
The shortage of aluminum and titanium bolts -- known as fasteners in the aerospace industry -- has been publicly discussed by Boeing for six months or so, but the problem is still not completely solved, Boeing CEO Jim McNerney said at an investor presentation.
Rio Tinto, the world's third largest miner by revenues, said Monday it has won U.S. antitrust approval for its $38.1 billion (28 billion euros) takeover of Alcan.
The market’s rebound from its worst decline in four years picked up steam Wednesday. The Dow jumped 145 points on the hopes The Fed has restored order to the credit market and dealmaking can continue unbridled. Can it?
A late rally pushed U.S. stocks sharply higher at the close as takeover news and rate-cut speculation overshadowed jitters about tighter credit markets. "We think that liquidity is returning to the market after being problematic," said Kevin Cronin, head of investments at Putnam. "We think the Fed's actions last week righted the ship."
Late last year, in his first and last interview with CNBC following the blowup of the cholesterol drug torcetrapib, I asked new Pfizer CEO, Jeff Kindler, how he could go from "selling chicken" at Boston Market (he used to run the chain for McDonald's) to "selling drugs". Based on the subsequent vibe I got, it was clear that some of the Pfizer media relations people at the time didn't like the question.
Pfizer on Wednesday said it named Frank A. D'Amelio, a senior executive of Alcatel-Lucent, as chief financial officer of the drugmaker.
Stocks rallied Friday as investors were encouraged by a cut in discount rates by the Fed. "As long as we can stay out of the woods with further credit problems, we can build from this base and go forward steadily," said James Maguire, Sr., managing director at LaBranche. "I think we've hit the bottom. We might fish around here for a bit, but I'm very confident."
Midwest Air Group, which had been fending off hostile suitor AirTran Holdings, on Friday said it accepted a higher bid of about $450 million from private equity firm TPG Capital and Northwest Airlines.