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Get ready for another blast of stock volatility
After the most turbulent market week in years, some strategists are ready to call the all clear. But others say stocks could test the lows of the past week.
IBM to pay Globalfoundries to take chip unit
(Reuters) - IBM Corp (IBM.N) said it would hive off its loss-making semiconductor unit to contract-chipmaker Globalfoundries Inc to focus on cloud computing, mobile and big data analytics. IBM will pay ...
Sears to raise up to $625 mln through notes offering
Struggling retailer Sears Holdings Corp said it would raise up to $625 million through a rights offering of senior notes due 2019 and warrants to buy shares. Sears Chief Executive Eddie Lampert and his hedge fund, ESL Investments Inc and certain affiliated funds, plan to exercise their rights, the company said in a statement. Sears said this month that it would raise up to $380 million by lowering its stake in Sears Canada to 12 percent from 51 percent through a rights offering.
Value Investors Hoarding Cash See Few Bargains After Rout
Eric Cinnamond had 75 percent of the money in his mutual fund in cash at the end of July because he couldn't find enough cheap small-company stocks to buy. "While the recent decline is refreshing, in my opinion, small caps remain expensive given the insane heights they reached this cycle," Cinnamond, manager of the $691 million Aston/River Road Independent Value Fund, (ARIVX) wrote in an e-mail. The plunge hasn't been enough for Cinnamond and other money managers who hold unusually high levels of cash, such as Stephen Yacktman of Yacktman Asset Management LP and Wally Weitz of Weitz Investment Management Inc., who say bargains still aren't easy to find. "It's not as if the world is all of a sudden dirt cheap," Keith Trauner, co-manager of the $509 million GoodHaven Fund, said in a telephone interview from Miami.
Adidas shares jump on report of bid for Reebok unit
Shares in German sportswear firm Adidas AG (ADSGn.DE) jumped on Monday after the Wall Street Journal reported that an investor group that includes Jynwel Capital and funds affiliated with the Abu Dhabi government planned a $2.2 billion (1.36 billion pounds) bid to buy Reebok. Jynwel Capital, a Hong Kong-based private equity investment and advisory firm run by Jho Low, and the Abu Dhabi government-affiliated funds planned to make the offer imminently in a letter to Adidas directors, the Journal reported, citing unnamed sources close to the matter. Adidas declined to comment. Adidas, the world's second largest sports apparel firm behind Nike, bought the U.S.-headquartered Reebok in August 2005 for $3.8 billion.
Japan leads Asia stocks higher after US rebound
Asian stock markets rose Monday, led by a 4 percent surge in Japan, after Wall Street's rebound eased nerves about the outlook for the world economy and investors looked ahead to a report on China's economic growth. European shares wilted amid gloom about prospects for the region's economy.
Market action reinforces need for policy patience: Fed's...
The recent volatility in financial markets reinforces the need for the Federal Reserve to be patient with its policy stimulus and to clearly tie an eventual interest-rate rise to improving economic conditions, a top Fed policymaker told Reuters. Boston Fed President Eric Rosengren said that while it would take a few more weeks to understand the real economic fallout from the market selloff, he could "easily imagine" a scenario in which the U.S. "Patient monetary policy probably makes sense," Rosengren, a dovish Fed official, said in an interview over the weekend. Rosengren predicted the U.S.
Is the oil price fall more than just a coincidence?
The recent drop in oil prices could be due to more than just lower demand, according to some analysts, who have suggested that the U.S. could be deliberately manipulating the market.
Hedge Funds Cut Bullish Bets on Crude as Prices Tumble
Plunging oil prices spurred hedge funds to cut bullish wagers by the most in six weeks, losing confidence in the willingness of producers to constrict supply. Money managers cut net-long positions in West ...
Cramer Remix: Time your Apple picking
Mad Money host Jim Cramer makes a call on Apple ahead of its report and many more, including buys in the investable market bottom
Reebok may run away from Adidas marriage
A group of investors from Hong Kong and Abu Dhabi is readying an around $1.7 billion euro ($2.2 billion) bid to buy sportswear maker Reebok from Adidas, according to the Wall Street Journal.
World stocks advance on strong data, earnings
Global stocks climbed on Monday, with strong U.S. MSCI's broadest index of Asia-Pacific shares outside Japan surged 1.2 percent overnight as an upbeat survey of U.S. "Calm returns after last week's roller-coaster ride," Saxo Bank trader Andrea Tueni said. Japan's $1.2 trillion Government Pension Investment Fund -- the world's biggest, with a war chest bigger than the annual output of Mexico's economy -- is likely to raise its allocation for domestic stocks to about 25 percent, people familiar with the process said on Saturday.
IBM Corp said it would hive off its loss-making semiconductor unit to contract-chipmaker Globalfoundries Inc to focus on cloud computing, mobile and big data analytics. IBM will pay Globalfoundries $1.5 ...
Shares in German sportswear firm Adidas AG jumped on Monday after the Wall Street Journal reported that an investor group that includes Jynwel Capital and funds affiliated with the Abu Dhabi government planned a $2.2 billion bid to buy Reebok. Jynwel Capital, a Hong Kong-based private equity investment and advisory firm run by Jho Low, and the Abu Dhabi government-affiliated funds planned to make the offer imminently in a letter to Adidas directors, the Journal reported, citing unnamed sources close to the matter. Adidas declined to comment. Adidas, the world's second largest sports apparel firm behind Nike, bought the U.S.-headquartered Reebok in August 2005 for $3.8 billion.
SAP cloud sales quicken, deferred sales hit outlook
German business software maker SAP (SAPG.DE) on Monday cut its outlook for full-year operating profit amid an accelerating shift by customers to buy its software over the Internet rather than as packaged software, delaying recognition of those sales. Company executives said the accelerating switch from license-software sales to Internet-based, so-called cloud software, is to cut into its 2014 profit, but that these sales would begin to bolster revenue and profit in coming quarters. SAP specializes in providing a mix of business application software for companies, but has come under pressure from cheaper rivals that offer services over the Internet, or "the cloud". "De-accelerating in the cloud would make absolutely no sense," SAP finance chief Luka Mucic said on a conference call.
Credibility meets compromise in Europe's bank stress test
When Europe announced its latest health check of top banks early last year it promised a "comprehensive assessment" of how well prepared they were to withstand another financial crisis. A series of Reuters interviews with officials, bankers and others involved in the European Central Bank's financial inspection of the euro zone's biggest banks shows that in the seven months since it began, the ECB has had to shoot down countless pleas from banks and national supervisors for special treatment. The ECB, which takes over as supervisor for the region's top banks on Nov. 4, declined to comment in detail on the issues raised but insisted the exercise was robust and thorough. It will announce on Oct. 26 which of Europe's 130 biggest banks have valued their assets properly and which have not, as well as whether banks need more capital to withstand another economic crash.
Yahoo set to outline cost-cutting efforts: WSJ
Yahoo is considering acquiring one or more large technology startups with some of the $5.8 billion it made from the initial public offering of Alibaba Group Holding Ltd, the newspaper said. Representatives at Yahoo did not immediately respond to an email seeking comment outside regular U.S. Last month, activist investor Starboard Value LP publicly pressured Yahoo to cut what it referred to as a "bloated" cost structure. Starboard, the second activist investor to target Yahoo in the last three years, also said the company should quickly "monetize" its Asian assets, which exceed the enterprise value of its actual business.
StanChart readies to close thousands of UAE accounts as...
"We regret to notify you that Standard Chartered Bank will no longer be able to provide banking services to you, and your account(s) will be closed 30 days from the date of this letter," the London-listed bank wrote in a letter to customers dated Oct. 9. The letter - seen by Reuters - has angered UAE customers, who say they have not been given enough time to close their accounts. Under a settlement agreed with the New York State Department of Financial Services in August, the bank was fined $300 million and given 90 days to end high-risk relationships with SMEs in the UAE and suspend processing of dollar-denominated payments for some clients at its Hong Kong unit. The UAE central bank said in August that between 1,400 and 8,000 Standard Chartered accounts in the country were expected to be affected by the U.S.
Japan firms want government action if yen weakens:...
Nearly half of Japanese firms think the government should start defending the yen at this month's dollar high of 110, a Reuters survey shows, underscoring the threat that rising fuel and other import costs pose to a fragile economy. Over the past two years, Prime Minister Shinzo Abe has sought to boost the economy and cure deflation with bold monetary stimulus that has successfully wrought a much weaker yen.
Pilots extend Lufthansa strikes to long-haul flights
German pilots union VC on Monday widened its strike at Lufthansa (LHAG.DE) to include long-haul flights on Tuesday, having previously targeted only the carrier's short and medium-haul routes on Monday and Tuesday. The walkout affecting long-haul flights, scheduled from 12 midnight-5:59 p.m. EDT, adds weight to the eighth strike action taken by pilots against Lufthansa this year in a drawn-out dispute over retirement benefits. Lufthansa on Sunday canceled 1,450 flights after the pilots union called for a strike on Monday and Tuesday, adding to travelers' misery in Germany after millions were left stranded by a weekend-long train drivers' stoppage. The initial schedule for the strike at Lufthansa was for 7:00 a.m. EDT on Monday until 5:59 p.m. EDT on Tuesday.
Will Apple revive the bulls or incite the bears?
Wall Street threw a tantrum last week as traders mulled a deluge of headlines. Will earnings from the world's biggest tech company provide relief?
Asia markets kick off week in rally mode
Markets in Asia zipped higher after a wild trading week as market participants cheered upbeat U.S. data and corporate earnings.
Cramer: We have an investable bottom
Mad Money's Jim Cramer says the checklist he created Monday has been fulfilled and investors can safely do some buying.
Top economist looking for Fed to surprise market
Top economist Maury Harris of UBS Investment Research thinks the Fed will surprise the market at its next meeting. Will you be ready?
Apple suits up for war in payment arena
Apple sided with credit-card networks with its mobile payment system, prompting numerous big-name retailers to craft their own service.
Oil Is Cheap. But Not So Cheap That Americans Won’t...
With crude prices teasing $80 a barrel for the first time in years, about 25 percent of the synthetic crude produced from the sands is no longer profitable, according to the International Energy Agency.
Where Cramer stands on Apple
Mad Money host Jim Cramer makes a call on this stock (and many others) ahead of earnings.
Sinking oil prices to wreak havoc on these 6 countries
Oil shocks, it turns out, are a double-edged sword: They're convenient for many consumers, but painful for countries reliant on crude exports.
Chipotle can grow earnings 40% this quarter and still lose
When Chipotle reports earnings Oct. 20, it will do so amid a level of optimism unlike any that's been seen in at least the past four years -- and if it doesn't deliver, the shares may be in for a very long day.
Blodget: Stocks still 30 - 40% overvalued
Henry Blodget tells Yahoo Finance editor-in-chief investors should rein in expectations over the next 5 years.
Insurers to sell hospitals cover against Ebola business...
Two privately owned insurance brokers have teamed up with Lloyd's of London underwriter Ark Syndicate to sell hospitals a product that insures against any loss of profit from Ebola quarantine shutdowns. British broker Miller Insurance Services LLP said the product it created with U.S. There has been "considerable interest" in the product throughout the United States, Mark Sleet, Professional Risks broker at Miller, told Reuters. "The healthcare industry is at the forefront on the Ebola situation and faces a unique and augmented set of risk exposures," said Gigi Norris, managing director of Aon Risk Solutions' healthcare practice.
Here's the 'knockout' feature Apple didn't mention
Amid the hype of the launch of the latest iPad models, there was one "remarkable" new member of Apple's ecosystem that wasn't mentioned: Apple SIM.
IMF: Market sell-off may have been 'over-reaction'
PARIS (AP) — The head of the International Monetary Fund says market turmoil this week may have been an "over-reaction," as leading economic figures met to discuss Friday the global economy and worries about another recession in Europe.
Consumers win as Internet TV gains HBO, CBS
Cord-cutting consumers are seeing their options multiply, as CBS and HBO plot to go online.
Still bullish on Netflix: Blodget
Netflix stock takes a beating on disappointing subscriber numbers, but Business Insider's Henry Blodget tells Yahoo Finance's Aaron Task, why he's still bullish on the streaming-video play.
3 black eyes in the U.S. job market
A casual glance at the job market makes it appear that things are a lot better. The unemployment rate was 7.2% a year ago. Now it's 5.9%. But there's a dark side to this recovery: Millions of people are ...
Gold set to post weekly gain on uncertain U.S. rate outlook
Gold edged lower on Friday as shares rebounded, but it was still set for a second straight weekly gain as concerns over the global economy have raised speculation the U.S. Federal Reserve could keep interest rates low for longer. Spot gold was down 0.1 percent at $1,237.40 an ounce by 1145 GMT. "There has been a move down in the dollar and equities this week, but in comparison the upside in gold has been relatively modest," ABN Amro analyst Georgette Boele said.
U.S. consumer sentiment rises despite Ebola fears
While the appearance of the deadly Ebola virus in Texas is worrying the nation, it has yet to lead Americans to take a more cautious view over how to spend their money, data suggested on Friday. The Thomson Reuters/University of Michigan index of consumer sentiment unexpectedly rose in early October to its highest level since July 2007.
Fed times pep talk to stop wild week of market swoons
A non-voting Fed board member’s oblique reference to the possibility that the Fed may not completely eliminate its monthly QE program marked the lows for the correction.
Gold takes center stage amid global rut
The selloff’s silverlining: Gold and Oil.