Friday Morning Coffee with TradingMarkets

  • March 28, 2008
  • Ashton Dorkins

Good Morning!

Clear Channel Says $19.5B Deal May Collapse… Fannie and Freddie to Raise $20B… EA Extends Offer for Take-Two… Citigroup Reshuffle’s Leadership… Cayne Dumps Bear Stearns Shares… Writedowns Grow for Tech Companies… Xerox Pays $670M to Settle Lawsuit.

Asian stocks mixed… European stocks down… Dollar higher versus euro… And the futures are pointing to a higher open.

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TradingMarkets 5 Business Stories You Need to Know

Toward the Exit: Cayne Sells Big Stake in Bear – Wall Street Journal

Two years ago, James Cayne of Bear Stearns became the first Wall Street chief executive to own stock and options in his own company worth $1 billion. These days, that stake is worth less than $100 million.

Fannie, Freddie May Raise $20 Billion – Bloomberg

Fannie Mae and Freddie Mac may raise as much as $20 billion in capital as part of an agreement that allows them to buy more debt securities, their regulator said.

Electronic Arts Extends Tender Offer for Take-Two – MarketWatch

Electronic Arts said Friday that it’s amending its tender offer for Take-Two Interactive Software in light of the video-game publisher’s latest rejection of its bid.

Ice-Cold Condo Market Burns Florida Builder – SmartMoney

At the height of the housing boom, speculators around the country flocked to Florida. With its balmy weather and miles of beachfront, the Sunshine State was a natural lure for real-estate buyers.

World’s Best CEOs – Barron’s

From the keeper of American Express to the creator of Wii, these 30 leaders know how to ride all the waves.

For more stories as they happen, go to our Breaking News section.

TradingMarkets 7 Stocks You Need to Know for Today

Here are 7 stocks for traders for today from TradingMarkets.com:

  • Oracle
    (
    ORCL |
    Quote |
    Chart |
    News |
    PowerRating)     lost 7.2%, despite reporting better than expected earnings, as investors fretted over the company’s sales outlook.

  • ComScore reported the number of clicks on Google‘s
    (
    GOOG |
    Quote |
    Chart |
    News |
    PowerRating)     ads fell 3% in February.

  • ConAgra Foods
    (
    CAG |
    Quote |
    Chart |
    News |
    PowerRating)     reported earnings that beat estimates by $0.22 per share and announced the sale of its trading unit for $2.13 billion.

  • American Express
    (
    AXP |
    Quote |
    Chart |
    News |
    PowerRating)     agreed to acquire General Electric’s corporate payments division for $1.1 billion.

  • After the close, Accenture
    (
    ACN |
    Quote |
    Chart |
    News |
    PowerRating)     reported Q2 earnings that beat estimates by $0.08 and issued upside guidance for Q3.

  • Global Payments
    (
    GPN |
    Quote |
    Chart |
    News |
    PowerRating)     also beat estimates and raised full-year guidance above consensus.

  • Before the market open, KB Home
    (
    KBH |
    Quote |
    Chart |
    News |
    PowerRating)     report a much larger than expected loss. KBH lost -$3.47 per share, versus estimates of -$1.17.

For a list of today’s highest PowerRating stocks, click here.

TradingMarkets 5 PowerRatings Stocks for Today

Company
 Symbol PowerRatings
The St. Joe Company JOE 9
Oriental Financial Group OFG 8
MultiFineline Electronix MFLX 8
The Buckle Inc. BKE 8
Analogic ALOG 8

View More Stocks

TradingMarkets Tracking the Wizards

Free Report! The Only 3 Options Trading Strategies You’ll Ever Need – TradingMarkets

There may be as many ways to trade the market as there are traders who want to do so. But the difference between the professionals and the amateurs when it comes to trading is that the majority of professional traders know that the edge lies in buying markets when they are weak and selling them when they are strong.

Building Great Traders: The TradingMarkets Battle Plan for Stocks – TradingMarkets

The TradingMarkets Battle Plan for Stocks is your daily “How To” trading guide, filled with the quick, to-the-point commentary and analysis, as well as what you as a short-term stock trader need most.

Currency Pairs Selling Their Personalities – TradingMarkets

The forex market is the largest financial market in the world, even bigger than stock markets. It is important for a trader or investor to understand the characteristics of Forex and to trade or invest accordingly.

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