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Stocks finished little-changed after a roller-coaster session as investors tried to figure out the Federal Reserve's latest statement on inflation and interest rates. "The Fed's been engaged in a real delicate balancing act," said Bruce Bittles, chief investment strategist at Robert W. Baird
A tentative deal over editorial independence at the Wall Street Journal would give Rupert Murdoch's News Corp. the sole power to hire and fire the newspaper's top editors if it succeeds in buying Dow Jones , the New York Times said on Thursday.
Rupert Murdoch said on Wednesday he had no plan to raise his bid for media group Dow Jones and expected a final approval from the Bancroft family, which controls the company, within two to three weeks, "if at all."
Brad Greenspan, who is offering to buy 25% of Dow Jones for $60 a share, said on CNBC that he will be meeting with the Dow Jones board later this week to talk about his proposal. Earlier on Tuesday, Rupert Murdoch's News Corp. and Dow Jones agreed on a structure to protect the editorial independence of Dow's news operations.
Stocks ended lower as investors were rattled by concerns regarded leveraged mortgage securities held by two Bear Stearns hedge funds. "We will see a splash near term as some of these funds need to unwind positions in paper that really isn't traded too much," said Jack Ablin of Harris Private Bank.
For the first time in French media history, the country's top two business newspapers La Tribune and Les Echos will not be published on Monday.
Stocks ended broadly lower as Wall Street pondered the fate of two Bear Stearns mortgage debt funds. Losses were compounded by adjustments in several key indexes.
When MySpace announced the beta launch of its instant messaging system -- MySpaceIM -- I wasn't impressed, I was surprised that MySpace was so late to the game. And what kind of a beta launch is this? It had a soft launch a year ago to give it some legs, before MySpace announced the "official beta." Check out this comparison of traffic ranking of MySpace, YouTube and Facebook traffic.
European equity markets looked set to extend losses next week as stocks teetered at inflated price levels with little on the corporate and economic calendar to act as a positive catalyst.
General Electric and Pearson said on Thursday they will not pursue a joint offer for publisher Dow Jones, removing a potential challenge to a $5-billion bid by Rupert Murdoch's News Corp.
You've probably heard by now, Yahoo is buying Rivals for something close to $100 million. The first question you should ask me is, is it worth it? That's such a hard question to answer, but let me tell you what you need to consider. A lot of people are going to criticize the value of this deal. They're going to say, it would have cost Yahoo a whole lot less to get 200 local journalists in each of the markets and have them build sites. What's missing from that equation is time.
The board of Dow Jones is assuming control of negotiations with Rupert Murdoch's News Corp. over the media conglomerate's unsolicited $5 billion offer to buy the company, which publishes The Wall Street Journal.
An uptick in bond yields and rising oil prices are adding pressure to stock futures after yesterday's rocky trading day. Asian stocks were higher overnight, but European markets are wilting this morning.
Apple Inc. and the company's iPhone continue to generate the lion share of headlines in the world of tech nowadays; it's the world of tech that may be worth a second look for investors. Something crazy is going on. It seems to have begun on Monday when our David Faber broke the news that Yahoo was in play, and he rattled off a list of companies that might be sniffing around for a deal. Time Warner, AT&T, Comcast, Microsoft, News Corp. The usual suspects, if you will.
In the wake of Terry Semel leaving Yahoo and Jerry Yang stepping back in, the question is, how far will those ripples be felt. A couple of my in-the-know sources are predicting that Microsoft will buy Yahoo. And then of course there's speculation that Yahoo might combine with eBay. But let's talk about News Corp talking about swapping MySpace for 25% of Yahoo -- what would that loss mean for News Corp.
Rupert Murdoch's News Corp. is considering selling its social networking Web site MySpace.com to Yahoo for a 25% stake in the Internet portal, worth about $12.3 billion, the Times of London reported.
Yahoo's next chapter begins today with a "what's old is new again" approach. Yahoo co-founder Jerry Yang moves into the C-suite; and Susan Decker moves next door as the company's president. And with a few hours under our belts to digest Terry Semel's departure, it gives us some opportunity to look ahead at what's next for this company.
A potential rival bid to Rupert Murdoch's lofty $5 billion offer to buy Dow Jones & Co. Inc. will have to surmount major hurdles of its own to succeed, even though investors are warming up to it.
So, there's this new Trojan TV commercial premiering Monday. It shows a bar filled with hot women and big fat pigs (www.trojanevolve.com). The hot women reject the men, disgusted, until one of the guys goes to the bathroom and buys a condom. He emerges as a hot guy, and the girl at the bar is thrilled to talk to him. .
Stocks closed slightly lower as investors focused on rising oil prices and fluctuating interest rates. "Prices for crude oil are not really moving up as much as they are being pulled up by gasoline," said Stephen Schork, editor of The Schork Report. "Specifically, there's the persistent fear in the market that there is not going to enough gasoline to get us through the season."