Talbots will now be a private company after Sycamore Partners offered the company $193.3 million or $2.75 per share. This news came as a surprise to many investors after Sycamore left buyout talks last week after Talbots failed to give them an answer on their original offer of $3.05 per share. Fast forward a week [...]
ContinueJobless Claims Rise, 1.9% Economic Growth in First Quarter
Stocks are trading lower again today as data shows the economy grew at 1.9% in the first quarter, less than analysts were expecting. The data showed that business were restocking shelves at a slower rate and that government spending has fallen more than previously estimated. Jobless claims rose 10,000 last week to a seasonally adjusted [...]
ContinueEU Concerns Weigh Heavily on Markets Today
Stocks opened the day down more than 1% as fears grew that Spain would be the next country in the EU to follow Greece’s fate. There were reports earlier today that the ECB had rejected Spain’s plan to save its banking sector by using the central bank for funds. The ECB has denied these reports [...]
ContinueJPMorgan Attempts to Offset Huge Trading Loss
JPMorgan has recuperated about half of its trading $2 billion trading loss by selling an estimated $25 billion of profitable securities. This sale netted the company about $1 billion in gains and as a result the JPMorgan will not report as big a hit for its second quarter earnings. A consultant and former chief accountant [...]
ContinueMarkets Start the Week Up
Stocks are trading higher today despite ongoing fears about the euro zone, specifically Spain. The Dow was up more around 150 points earlier today, but has since given back about half of those gains as investors continue to mull over EU economic uncertainty. Earlier today, Egan-Jones downgraded Spain’s credit rating for the second time in [...]
ContinueFacebook Continues to Get Destroyed
Facebook continues to disappoint as it has fallen below $30 for the first time this morning. Shares of the social media giant are down more than 8% right now at $29.20. Facebook’s much anticipated IPO on May 18th was overshadowed by technical glitches and behind the scenes downgrades by its underwriters. Facebook shares hit a [...]
ContinueGreece Shakes World Markets, Gold and Oil Reeling
Worries that Greece could exit the euro zone which in turn could lead to other weak euro nations leaving has shaken the global markets. The Dow is currently down more than 1% and traders are flooding into U.S. Treasurys, pushing yields close to historic lows. Commodities took a big hit today with Marc Chandler, chief [...]
ContinueWall Street Bounces after Recent Declines
Stocks jumped today after posting their biggest weekly decline of the year. Euro zone problems took a back seat today as investors bought stocks recently hit hard by euro zone uncertainty. This bounce will probably be shortlived as any news out of the EU will have huge implications in financial markets across the globe. Facebook [...]
ContinueLowe’s Cuts Profit Outlook, Shares Down 10%
Lowe’s Companies Inc. (NYSE:LOW) cut its fiscal-year earnings outlook as demand slowed down near the end of a usually strong quarter. This cut in outlook comes a few days after its rival, Home Depot, missed Wall Street quarterly estimates on weak demand in April. Both of these companies saw good demand during the warmer than [...]
ContinueYahoo! Rises on Reports Alibaba Deal Close
Yahoo! (NASDAQ:YHOO) is on the rise today after reports that it is close to selling part of its stake in the Alibaba Group. The details of the deal has Yahoo! selling half of its 40% stake in Alibaba back to the company. Jordan Rohan, an analyst with Stifel Nicolaus, said Yahoo could receive an estimated [...]
ContinueZynga Shares Halted as Facebook IPO Fails to Impress
Shares of Zynga Inc. (NASDAQ:ZNGA) were halted earlier this morning after tumbling more than 13% as Facebook (NASDAQ:FB) started off shaky. Facebook’s much celebrated IPO started with a dud today after opening at $42 and then falling to $38 before recovering some. The social media giant has been single handedly moving the market today with [...]
ContinueJPMorgan’s Trading Loss Worsens
The much talked about losing trade by JPMorgan last week continues to sting the company as its loss has jumped at least 50%. CEO Jamie Dimon warned last week that the loss could double in the coming quarters, but has happened much quicker as investors take advantage of JPMorgan’s precarious position. There are reports the [...]
ContinueFirst Casualty to JPMorgan’s Huge Trading Loss
Ina Drew, Chief Investment Officer, will retire after 30 years with the company. She was responsible for the trading strategy at JPMorgan and was one of the highest ranking women on Wall Street. CEO Jamie Dimon was quick to point out Drew’s “vast contributions to our company should not be overshadowed by these events.” He [...]
ContinueBest Buy Founder Stepping Down
Richard Schulze, Founder and Chairman, is stepping down after he failed to tell the board that former CEO, Brian Dunn, violated company policy by having “an extremely close personal relationship” with a female employee. An investigation found that the relationship did impact the work environment but no misuse of company resources took place. Dunn left [...]
ContinuePolitical Stalemate in Greece, Euro Exit Looking More Likely
Efforts to form a coalition for a Greek government continue to fall short 8 days after elections. Policymakers in the EU have warned that Greece cannot remain a EU member if it does away with its bailout program which has seen massive austerity measures cripple the country. Should a coalition not be formed, the country [...]
ContinueCisco’s John Chambers Comments Has Corporate IT Focused Stocks Reeling
Cisco Systems Inc. (NASDAQ:CSCO) is currently down more than 10% at $16.85. Cisco’s drop comes as the company forecasted profits below what the Street was expecting. It was Chief Executive John Chambers’ comments that had everyone talking today. Chambers warned of a “cautious IT spending environment.” This comment sent companies focused on corporate IT lower. [...]
ContinueStocks Recover After Multiple Down Days Following Euro Elections
Stocks are trading higher this afternoon thanks to a slightly better than expected jobless claims report. The Labor Department said weekly jobless claims fell slightly last week to a seasonally adjusted 367,000. Analysts were expecting a slight uptick to 369,000. Other domestic economic news include the U.S. trade deficit widening in March to $51.8 million [...]
ContinueElections in Europe Bring Uncertainty Back to Markets
News out of Europe is looking dire as weekend elections in Greece and France threw out governments who supported failing austerity policies in both countries. Socialist Francois Hollande defeated French President Nicolas Sarkozy while Greek elections saw fringe parties gain many seats in parliament. The winners of the elections have vowed to put the needs [...]
ContinueChrysler Recalls Some Dodge Chargers and Chrysler 300s
Potential problems in these cars’ electrical stability control and anti-lock braking systems initiated the recall. About 127,350 current models have been recalled according to the company and U.S. safety regulators. Chrysler has said it is not aware of any injuries or crashes due to these issues. According to a filing, a fuse in the power [...]
Continue$OTT Chart
Otelco Inc. provides a range of telecommunications services on a retail and wholesale basis. These services include local and long distance calling; network access to and from its customers; data transport; digital high-speed and dial-up Internet access; cable, satellite and Internet protocol television; wireless, and other telephone related services. The principal markets for these services [...]
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