Stocks are stuck in a funk after a week during which economic concerns essentially overshadowed everything else.
Encouraging earnings from Hewlett-Packard (HPQ) aren’t helping the market today, as broader questions about the outlook for the tech sector as well as CEO succession uncertainty continues to dog the shares.
Newswires’ Steve Wisnefski and Mike Reid discuss on the Markets Hub.
Intel’s move to acquire computer-security software maker McAfee fails to buoy the stock market, as economic data again darkens the outlook for the economy sparking sharp moves across financial markets.
Philly Fed’s manufacturing index also unexpectedly dropped, adding to mounting concerns over the stagnant labor market. Newswires’ Steve Wisnefski, Mike Reid and Michael Casey discuss on the Markets Hub.
Leaders from the Group of 20 are gathering in Toronto to discuss the state of the global economy as markets have begun reassessing the growth outlook. Markets are also focusing again on BP, whose shares are getting another hammering as the costs of the spill continue to increase. Newswires editors Madeleine Lim and Mike Reid discuss on the Markets Hub.
No matter what happens today, May was a bad month for stocks (it was a bad month for everything, really, unless maybe for New York Knicks fans, and even that’s a pretty big maybe.) But despite yesterday’s big rally, the underlying themes and issues haven’t changed, which means it may not exactly be a summer of love we’re in store for.) Mike Reid and I discuss in today’s Markets Hub.
J.P. Morgan reported some strong earnings today. But what this bloggers eye were some of the sub-numbers in the earnings report. The bank booked $1.8 billion in investment banking fees. But don’t be fooled – that wasn’t from big M&A advising. But $429 million was in advisory fees. Instead, that $1.3 billion + remaining fees […]
David Oreck, founder of a well-known maker of vacuums and air purifiers, says he’s upset his namesake company is in bankruptcy. He says Nashville, Tenn.-based Oreck Corp. was a perfectly profitable company when he sold his stake in it to a private equity firm in 2004. He blames the firm, New York-based American Securities Capital […]