Beck's Beer maker Anheuser-Busch InBev has agreed to settle a class action case and is offering refunds to drinkers.» Read More
Stocks rallied to the finish Friday, led by financials and techs, as a tame core-inflation reading and lower oil helped the market end a chaotic week on a high note.
For the week ending Friday, June 13, 2008, the markets were mixed on varied economic news, renewed credit concerns from Lehman and the financial sector, and of course, oil. A surprise increase in retail sales gave hope for economic growth and a rising CPI suggested a potential rate move on the horizon that could strengthen the dollar and begin to tame inflation.
Stocks regained lost ground heading into the final hour of trade, with lower oil boosting financials and a host of other beaten-down sectors as Wall Street bid to finish a seesaw week slightly higher.
Stocks continued a solid rally Friday, boosted by falling oil prices and investors who swooped in to snatch up battered financial stocks.
After another volatile Wall Street session, Dylan labels Thursday "a big fiasco," with the lion's share of the blame going to the Microsoft-Yahoo crash-and-burn. Any possible deal has been aborted for the second and -- very likely -- last time.
Anheuser-Busch is in preliminary merger talks with Mexico's Grupo Modelo that could thwart InBev's unsolicited takeover bid for the brewer, the Wall Street Journal reported.
Stocks pulled back following news that the Microsoft-Yahoo deal is off. Earlier, the market had rallied as oil prices receded, retail sales came in better than expected and merger in the beverage industry got investors jazzed up.
Stocks were well off their highs but still posting solid gains after unexpected strength in retail sales and a multibillion-dollar takeover bid in the brewing sector.
European shares rallied on Thursday, after six days of declines, as banks and mining stocks rose, while the bid from Belgian brewer InBev for U.S. rival Anheuser-Busch boosted beverage stocks.
InBev will probably have to raise its $46.3 billion offer for Anheuser-Busch, analysts told CNBC. BUD shares jumped over 10% in Europe.
Stocks opened higher Thursday after a better-than-expected jump in retail sales and a bid by Belgium-based brewer InBev for Budweiser-maker Anheuser-Busch, but news of the ouster of two high-level executives at Lehman Brothers rattled the market.
KeyCorp, which has been hitting new lows recently, cut its dividend in half and plans to raise $1.5 b in capital. The excuse here is an adverse court ruling on tax treatment, but no one is surprised, nor does anyone think they will be the last to cut dividends.
Investment manager Ken Fisher wants to buy stocks when people are miserable -- and he thinks that is where we are right now.
Belgium brewer InBev made a $46.3 billion cash bid for Anheuser-Busch, the largest brewer in the United States, late Wednesday.
The possibility of Europeans owning Budweiser looks increasingly likely after Belgian brewer InBev launched a takeover bid for Anheuser-Busch.
They're like evil twins scaring the stock market. High oil prices and the credit crunch. The stock market will have to put one or both aside in order to move ahead.
Stocks dropped sharply Wednesday as oil prices recovered from previous losses.
The Dow suffered a triple digit loss on Wednesday after a bigger-than-expected drop in crude inventories sent investors scrambling. What's the "Word on the Street?"
InBev has made an unsolicited $65-a-share cash offer to acquire Anheuser-Busch, the American brewing giant said after markets closed Wednesday.
InBev, the giant Belgian beer company, is moving closer to making an unsolicited bid for Anheuser-Busch, people close to InBev have told CNBC.