Archive for June 26th, 2009

The newest member of the New York Stock Exchange is Invesco Mortgage Capital , which entered the investing world at 9 a.m. Friday. The company raised 200 million in its public offering and now trades at 19.75 a share-half what its parent company, asset management giant Invesco , originally hoped to raise for the mortgage… »

They say that the rising tide of a bull market lifts all ships. If an analysis out Friday from FBR Capital Markets is correct, insurance giant Allstate is a lot more buoyant than investors thought.Higher stock prices off the March lows and higher bond prices across the board from Treasuries to high-yield have strengthened Allstate… »

Despite the recession and consumer retrenchment in the Western World, some analysts are forecasting good times ahead for hard drive manufacturers. Demand for disk space will continue to rise whether or not the economy recovers, and the big players, burned badly in 2008, have cut costs and supply of new drives to the point where… »

xtdpvs8ej5 What do Italy’s billionaire Benetton family, French entrepreneur Bernard Tapie and lender Credit Agricole have in common? They all now own a stake in Club Mediterrannee-the French resort chain known for its bourgeois clientele, its all-inclusive vacation packages and its erratic financial performance-and they have very different ideas on how to revive a company… »

At the end of last year, the corporate bond market looked boarded up. Some fretted that the lack of access to credit would crush many large corporations. Since March, however, when financial fears hit a peak, the cost of bond market borrowing has dropped and even companies that were struggling with interest payments have been… »

MUMBAI – India’s first public offer in 15 months, from timeshare firm Mahindra Holidays & Resorts, concluded successfully on Friday. The issue of 9.27 million shares received a deluge of 60,000 applications and bids for 90.83 million shares at the end of trading as the Sensex gained 419 points, or 2.9%, to close at 14,765.”We’ve… »

As budget-minded shoppers roll through grocery store aisles looking for ways to stretch their cash, grocers are responding to the competitive pricing environment by doing their own share of penny-pinching.For Wal-Mart Stores -which touted itself as the low-price leader even when other stores tried to lure higher-income shoppers with remodeled stores and improved product mix-private-label… »

Wall Street started Friday on a lukewarm foot.Stocks were down in the United States during morning trading, as the Dow Jones industrial average slipped 0.2%, or 19.20 points, to 8,453.20, while the Nasdaq composite index lowered 0.1%, or 1.84 points, to 1,827.70. The S&P 500 index dropped 0.3%, or 2.38 points, to 917.88.Meanwhile overseas, European… »

Is UBS testing the waters to see if it can get on without state support? This seems a possibility after the beleaguered bank announced Friday that it would place 3.8 billion Swiss francs with a small group of institutional investors to raise its core capital ratio by 100 basis points, to around 13%. “It could… »

First the shock at the tragic and sudden death of Michael Jackson. Now comes the sober reality for a handful of companies involved in promoting his planned 50 sell-out concerts at London’s O2 Arena, an event that had been billed as one of the most spectacular multimedia extravaganzas of all time. With fans having paid… »