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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.
General Electric and Microsoft discussed joining forces for a competing bid for Dow Jones & Co. in recent weeks, but the idea was abandoned, the Wall Street Journal reported on Monday.
Dow Jones has implemented change-in-control provisions for more than 100 top managers, as the company considers a $5 billion unsolicited offer from Rupert Murdoch’s News Corp., The Wall Street Journal reports.
A "Wall Street group" and an Internet entrepreneur have expressed interest in mounting a counterbid to News Corp. chief Rupert Murdoch's $5 billion offer for Dow Jones, an adviser to the Dow Jones employee union said on Thursday.
Brian Tierney, who led the investor group that bought the Philadelphia Inquirer and the Philadelphia Daily News for $515 million, said he is interested in taking a look at Dow Jones The Wall Street Journal reports.
Stocks closed lower as investors used rising bond yields and diminished outlook for an interest rate cut as excuses to take profits. "Technically, the market looks a lot like it looked before the 5% correction we got back in late February," said John Kattar, chief investment officer with Eastern Investment Advisors. "The market is overbought."