Sponsored Link:

Thursday, October 9th, 2008

Global Investing Roundups

Symantec Upgrade; Monsanto Sees Credit for Crops; AIG’s Costly Retreat; Wells and Citi Extend Ceasefire; Pending Home Sales Climb; Crude Hits Lowest Level in 2008

  • Symantec Corp. (SYMC) was upgraded to “overweight” from “neutral” by a JPMorgan Chase & Co. (JPM) analysts yesterday (Wednesday). "We are upgrading shares of Symantec… as the shares have fallen to a value less than what we believe the maintenance is worth, and investors are essentially getting the consumer business and any future enterprise license for free," JPMorgan’s John DiFucci wrote, MarketWatch reported.
  • Despite criticism from the U.S. Congress and President George W. Bush, American International Group Inc. (AIG) is planning another high-priced broker retreat. The last such trip cost approximately $440,000. The President didn’t push for the bailout “to help top executives go to a spa,” White House Press Secretary Dana Perino said yesterday (Wednesday) at the daily White House briefing, Bloomberg News reported.
  • Wells Fargo & Co. (WFC) and Citigroup Inc. (C) yesterday (Wednesday) agreed to extend their truce in the takeover battle for Wachovia Corp. (WB) The “litigation standstill” was extended until 8 a.m. EST time on Friday, Oct. 10. The truce began Oct. 6 and was scheduled to expire at noon yesterday.
  • Pending home sales rose 7.4% from July to August, the National Association of Realtors said yesterday (Wednesday). The group said its seasonally adjusted index of pending sales for existing homes climbed to 93.4 – the highest reading since June 2007. The index registered an upwardly revised 87 in July.
  • Light, sweet crude for November delivery fell $1.11 yesterday (Wednesday) to settle at $88.95 on the New York Mercantile Exchange. Crude fell as low as $86.05 earlier in the day, its lowest price since Dec. 6, 2007.

More on this topic (What's this?)
Global Investing Roundups Thursday, October 9th, 2008 (Contrarian Profits, 10/9/08)
Monsanto (MON) Raises Guidance (Again) (Fund my Mutual Fund, 9/16/08)
Symantec’s Third Consecutive Earnings Beat (Ahead of the Ticker, 8/6/08)
Ag Stocks Dropping Further? (market folly, 10/26/08)
Read more on Symantec, Monsanto Company at Wikinvest

IMF Quietly Creating Three 100%+ Winners

The International Monetary Fund is about to pump $100 billion into a few select countries. This “no strings attached” bailout is creating three 100%+ gainers in the coming days - if you know how to play it. Get all the details in this report: The Trigger Event Strategy: The Only Proven Way to Make Money in an Insane Market. Just go here…




This entry was posted on Thursday, October 9th, 2008 at 5:34 am and is filed under Global Business Roundup, Global Roundup, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. Due to the amount of comments we receive Money Morning will not be able to respond to all questions. If you have not already registered to leave a comment, once doing so you will receive Money Morning's Daily Email.

There Are 2 Responses So Far. »

  1. Pingback by Global Investing Roundups | Jutia Group on 9 October 2008:

    [...] Money Morning addthis_pub = ‘jutiagroup’; addthis_logo = ‘http://www.jutiagroup.com/favicon.ico’; addthis_brand = ‘Jutia Group’; addthis_options = ‘email, favorites, digg, delicious, myspace, facebook, google, live, reddit, more’; [...]

  2. Pingback by Global Investing Roundups Thursday, October 9th, 2008 on 3 November 2008:

    [...] Global Investing Roundups Thursday, October 9th, 2008 addthis_url = [...]

Post a Response