U.S. stocks ended the week at highs as markets rallied on overseas central banks' stimulus efforts and an encouraging domestic outlook.» Read More
Stocks opened lower Monday as Friday's euphoria cooled with investors realizing that financial woes could go on for quite some time and a fresh wave of new developments emerged.
Much has been made in this Presidential campaign – and much more will be made – about the value of experience and who is qualified to lead. Often, relative youth is cited as a negative.
Minutes after Microsoft's news to launch another $40 billion stock buyback and raise its dividend by 18 percent, Hewlett-Packard and Nike both announced major new buybacks of their own. And all of this may serve as a clarion call to other cash rich tech companies to start sharing their wealth.
Futures are practically unchanged, with many traders noting this morning that hedge fund and mutual fund companies are continuing to see redemptions, and the profit outlook is still poor. As a result, there is debate about how strong buying interest will be here.
"What we’ve really seen over the last three or four years is greed gone wild, and now we’re paying the price for it in a monster hangover..."
For the historic week ending Friday, September 19, 2008, the major U.S. Indices managed to close mixed and almost flat after one of the most volatile trading weeks ever, driven by the collapse of investment bank, Lehman Brothers, enormous government actions around the globe, and billion dollar deal making. In one week, the government bailed out AIG, pumped funds into money markets, and banned short selling of financials - all while keeping the Fed Funds target unchanged and taking unprecedented actions to halt the liquidity crisis. The CBOE Volatility Index (VIX) surpassed the benchmark level of 30, hitting an intraday high of 42.16 on Thursday, its highest level since 10/2002. The major indices were all up and down +/- 3% for 4 of the past 5 days. The Dow posted a 2 day point move of more than 778 points as of Friday’s close, after plummeting 811 between Monday and Wednesday and hitting 10,609.66, its lowest level since 11/9/2005. On Friday, The Nasdaq Composite recorded a 2-day point move of greater than 175 points after it closed down 109.05 points on Wednesday, its first triple digit decline for one day since it began trading after the 9/11 attacks. The S&P 500 flirted with record territory closing up 98.7 over the last two days, marking its biggest 2-day point move since 3/16/2000, the largest 2-day point move ever.
On a week where Financials once again dominated the market with unprecedented moves by the U.S. government, the Dow trades in an over 1000 point range for its biggest 2-day gain since March, 16, 2000.
HP is resurrecting the "Dude, You're Gettin' a Dell" campaign, which wasn't the brightest point in Dell's history, and now it's being used against it.
This has been an unprecedented volatile week for Wall Street, but Google CEO Eric Schmidt isn't going to let that slow down his business.
Smart phone maker Palm shifted to a loss in its most recent quarter, though the deficit wasn't as deep as analysts had forecast.
Seinfeld wasn't "fired," or "canned," or "cancelled," or "let go." The company said from the early going that the Seinfeld commercials were "teaser ads" meant to stir conversation and debate, and tee up this next round of ads.
CNBC Contributor David Pogue says that Microsoft's new Zune is no longer just an iPod clone.
Seattle is seeing many of its economic crown jewels take a hit. There's a strike threat at Boeing, Starbucks is trying to recapture the mojo for its joe, Microsoft faces ever new challenges, and WaMu may go from the nation's largest thrift to...?
They started with such fanfare: Microsoft on the offensive, launching a new TV ad campaign, spending $10 million for the services of comedian Jerry Seinfeld, who would be part of a massive, $300 million ad spend.
After six months as the reigning "World's Richest Billionaire," Warren Buffett has lost his title, and a few billion dollars. The Forbes 400 list of the richest Americans has just been released, and Buffett's friend Bill Gates, the former Microsoft Chairman, is at the top of the rankings, with an estimated net worth of $57 billion. That tops Buffett's $50 billion, although he's still number two out of 400 on the Forbes list of the nation's super-rich.
Wall Street suffered another beating Wednesday at the hands of investors panicking over the state of large banks, as they flocked from stocks and sent safe-haven areas like gold soaring.
Google will hardly be a me-too vendor. I'm sure the new HTC "Dream" phone will be feature-rich. But how it looks and how it feels might eclipse what it does since there are so many other options out there for consumers right now.
Republican presidential candidate John McCain, struggling to strike the right note amid roiling financial markets and a Wall Street restructuring, on Wednesday softened his opposition to a bailout of mega-insurer AIG that he had flatly ruled out a day earlier.
Insurance companies have gotten away from their core competencies and that is "dangerous," said New York State Insurance Superintendent Eric Dinallo.
Former Allstate CEO Edward Liddy will be the new CEO of AIG, which was rescued by an $85 billion loan from the Fed, in exchange for an 79.9% stake in itself.