Tuesday Morning Coffee with TradingMarkets

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DOJ Clears Sirius-XM Merger… Bank of China Profit Climbs 31%… Fortress Investment Group Slips into the Red… European Money Market Rates Rise to Highest Level in 2008… MGIC Raises Capital, Sells $745M in Stock and Debt.

Asian stocks up… European stocks up… Treasuries rise… Dollar drops… And the futures are pointing to a higher open.

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TradingMarkets 5 Business Stories You Need to Know

XM, Sirius Move Closer to Improbable MergerWall Street Journal

The Justice Department approved the merger of Sirius and XM, saying the deal will not harm competition.

MGIC Sells $745 Million in Stock, Debt to Raise CashBloomberg

MGIC Investment, the largest U.S. mortgage insurer, raised $745 million, more than it projected, with the sale of stock and convertible debt after a record fourth-quarter loss.

Fortress Posts Q4 LossReuters

Hedge fund and private equity company Fortress Investment Group reported a fourth-quarter loss due to higher compensation costs.

Valero to Fall Short of Lowered Profit MarkMarketWatch

Valero Energy moves into the energy spotlight on Tuesday, likely to trade weaker after the gasoline producer said it would miss its first-quarter earnings target because of rising prices for raw materials and unexpected costs incurred at its refineries.

Dollar Gives Up Gains As Risk Appetite ReturnsDaily FX

After a quiet holiday week-end traders returned to the currency market emboldened to take on more risk by plowing into the high yielders as equity markets across the globe recorded triple digit gains.

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:

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

TradingMarkets 5 Top PowerRatings Stocks for Today

Company
Symbol PowerRatings
iShares Silver Trust SLV 9
Randgold Resources GOLD 9
United States Oil Fund ETF USO 8
TXCO Resources TXCO 8
Trico Marine Services TRMA 8

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