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May.09
3:23 PM ET
Friday, 9 May 2008
The Week: Oil Weighs on Markets Even as Wal-Mart Beats

The relentless upward march of oil prices dominated the business headlines through the week, but there were other developments, like the collapse of Microsoft's bid to take over Yahoo and Wal-Mart's upbeat sales that also helped spice up the week and keep the markets active. Here are some of the week's highlights:

Monday, May 5

  • Microsoft-Yahoo Talks Collapse: Yahoo [  Loading...      ()   ] fell after Microsoft [  Loading...      ()   ] offered to increase its bid to $47.5 billion on Saturday, but that still wasn't enough for the Internet company.

Dave Rovelli, Canaccord Adams: "Don't be scared by profit-taking;" Itron [ITRI  Loading...      ()   ] and Research In Motion [RIMM  Loading...      ()   ]

Jason Trennert, Strategas Partners: "If you're thinking about M&A, I think this is the year to do it."

SanDisk [SNDK  Loading...      ()   ] and CommScope [CTV  Loading...      ()   ]

Ryan Jacob, Jacob Internet Fund: Wait and see on Yahoo; buy Earthlink [ELNK  Loading...      ()   ] Martin Pyykkonen, Global Crown Capital: Buy online advertising companies, Google [GOOG  Loading...      ()   ] and Valueclick [VCLK  Loading...      ()   ]

  • Oil, other commodities remain near record levels: Jeff Auxier, Auxier Asset Management: Buy Supermarket chains and profit from food inflation and "dining-in" trend: Tesco [TSCDY  Loading...      ()   ], Kroger [KR  Loading...      ()   ], and Safeway [SWY  Loading...      ()   ]

Tuesday, May 6

  • Fannie Mae posts loss, sees home prices falling more sharply, credit losses increasing, 2009 worse than 2008, predicts increased delinquencies, defaults, foreclosures.

Economist Martin Feldstein tells CNBC falling housing prices and negative equity could push the economy into recession.

Jay Bowen, Bowen Hanes & Co. Go global; companies without global exposure have not been doing well. Caterpillar [CAT  Loading...      ()   ], DuPont [DD  Loading...      ()   ], Parker Hannifin [PH  Loading...      ()   ], BASF [BASFY  Loading...      ()   ], ABB[