Some of the names on the move ahead of the open.» Read More
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."
General Electric and Pearson may challenge News Corp.'s $5 billion bid for Dow Jones & Co. with a plan that could let Dow Jones's controlling Bancroft family keep an interest in the company, the Financial Times and The Wall Street Journal reported on their Web sites.
Hollywood's superhero foursome is still fantastic at the box office.
Financial Times owner Pearson has approached US conglomerate General Electric about a joint bid for Dow Jones, owner of the Wall Street Journal, the Sunday Times reported, citing unnamed sources close to the talks.
Pearson, the publisher of the Financial Times, is seeking partners for a possible bid for Dow Jones, which publishes the FT's main rival, the Wall Street Journal, the Journal reported on its Web site Friday.
Financial Times publisher Pearson is looking for partners to make a bid for Dow Jones, The Wall Street Journal is reporting. Don't expect News Corp. to give up easily, Cramer says.
Merrill Lynch reported that Fox (owned by News Corp) is gearing up to launch its business channel in the fall with 30-million plus subscriptions. This could be the largest cable network launch ever, but it's certainly taken them long enough, Fox has been trying to get subscription access for years. And it won't come cheap-- start up costs are estimated to be about $200 million, with News Corp expecting the division to break even by its fourth year. But it sounds like Fox Business Channel won't be anything like CNBC (GE is parent company.)
DirecTV and EchoStar's Dish network are rivals, but apparently they're far less worried about each other than they are about rivals in cable and telecom. DirecTV and Dish are also the kind of rivals who once wanted to merge with each other, but since they can't, thanks to regulatory issues--they're playing nice with each other, to try to make their industry more viable.
The Bancroft family that controls Wall Street Journal publisher Dow Jones has rejected its own lawyers' draft of a plan to protect the paper's independence as too timid, according to the New York Times.
The Wall Street Journal, whose parent Dow Jones is the target of a $5 billion takeover offer by News Corp., is set to shake up its newsroom by reassigning and replacing several top editors, the New York Times reported on its Web site.
Stocks closed at session lows and the Dow was off 129 as Treasury yields rose to multiyear highs, dashing investors' hopes for a Fed rate cut. "A few weeks ago people were convinced rates were going lower, you don't hear any of that talk now," said James Maguire, floor broker at Christopher J. Forbes.
The Bancroft family, controlling shareholders of Dow Jones, are set to submit a new set of proposals to News Corp. on how to protect the Wall Street Journal's editorial independence, the Journal reported on Monday.
Yahoo! is a top Internet destination -- but that hasn't brought bliss to all of the Web portal's shareholders. One particularly disgruntled stockholder is Eric Jackson, president and CEO of Jackson Leadership Systems. He explained to "Closing Bell" viewers why he intends to hold Yahoo! CEO Terry Semel's "feet to the fire" at the company's annual shareholder meeting on Tuesday.
Stocks closed flat as the markets failed to hang onto a minor afternoon rally. "As volatility starts to pick up again, people have begun to realize that the probability of the Fed easing here is very, very low -- maybe even a better probability the Fed tightens here," said Richard Bernstein, chief investment strategist at Merrill Lynch.
Wall Street is looking for direction and futures are little changed this morning, though stock markets around the world gained ground after Friday's U.S. market rally. Oil is slightly firmer, the dollar is up, and interest rates remain a cause for concern in the stock market.