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Thursday, July 17th, 2008

Global Investing Roundups

Wells Fargo Jumps 32% on Dividend Hike; Crude Falls $10 in Two Days; Home Building Collapses; Gazprom Threatens to Take Belarus to Court; Gannett’s 2nd Quarter Tumble; SK Telecom Eyes up Sprint?; Time Warner Travels to Seattle; Delta’s $1 Billion Loss Turns to Gains

  • Wells Fargo Co. (WFC) stock jumped 32% after the nation’s fifth largest bank raised its dividend by 10%, from 31 cents a share to 34 cents. The company reported second-quarter profit fell 22% as more customers defaulted on loans, but the dividend hike was enough to answer any questions concerning the company’s stability.
  • Light, sweet crude for August delivery fell $4.14 to settle at $134.60 a barrel on the New York Mercantile Exchange yesterday (Wednesday) after sinking as low as $132 earlier in the day. Over the past two days crude prices have dropped $10 a barrel.
  • Executives from Time Warner Inc.’s (TWX) AOL unit met with Microsoft Corp. (MSFT) yesterday (Wednesday) to discuss a possible merger. Microsoft is seeking alternatives after Yahoo! Inc. (YHOO) shunned its buyout bid. While the two firms have been in ongoing discussions for some time now, the chances of reaching a deal remain less than certain, MarketWatch reported.

More on this topic (What's this?)
How I Might Get a 55% Dividend Yield On WFC
Euphoric Day in the market today.
Read more on Wells Fargo at Wikinvest

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