Stocks plunged Wednesday after Federal Reserve Chairman Ben Bernanke said a stronger economy may allow the Fed to end its bond buying program later this year.
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The firm angers lawmakers by flooding investigators with paperwork.
The investigators, working for the Financial Crisis Inquiry Commission, asked Goldman for several documents as part of their inquiry. Goldman responded with a document dump of more than 1 billion pages -- far more than what was requested.
The FCIC only has 50 staffers, and they have to prepare and deliver their report by the end of the year. There's no way they can sort through all of Goldman's paperwork and finish on time.
A new iPhone and other encouraging news isn't enough to offset uncertainty about China and the euro.
By Jim Cramer, TheStreet
I'm just sitting here reading about all of the exciting new products coming out of Medtronic (MDT), all the terrific news out of the oncology conference, all the shortages of parts for wireless Internet because of the demand, all of the unbelievable things that the Apple (AAPL) iPhone does (and that ARM Holdings (ARMH) helps them do), and I say to myself: So what?
Have you seen the euro? Gold? Spain?
Seeking approval for its big NBC merger, cable giant's pledge to add minority voices is soundly dismissed at hearing.
It's not enough.
That was a message emphatically delivered Monday by several members of Congress and numerous minority producers and diversity-minded media-business watchdog groups to Comcast and NBC Universal, at a House Judiciary Committee hearing conducted in downtown Los Angeles.
The four-hour hearing, the first and probably only one to be held in Los Angeles over the proposed Comcast purchase of NBCU, was convened at the California Science Center, at the behest of U.S. Rep. Maxine Waters (D-Calif.), who represents the area.
Its purpose: to explore the issue of ethnic and cultural diversity in the broadcast and cable media -- and more specifically, how one of the biggest mergers in media history will improve or worsen that situation.
Outspoken mogul lobbies for vertical integration at Produced By conference
It's time to bring back vertical integration in the movie business, said outspoken entertainment, sports and Internet mogul Mark Cuban at the Producers Guild of America's Produced By conference on Saturday. He said movie studios ought to buy theater chains and explore releasing certain movies to video-on-demand even before those films hit the big screen.
During a wide-ranging conversation moderated by Los Angeles Times reporter Dawn Chmielewski, Cuban said his ownership of both Magnolia Pictures and the Landmark Theaters chain allowed him more flexibility on the release patterns of films like Steven Soderbergh's "Bubble," Neil Jordan's new "Ondine" and Alex Gibney's Oscar-nominated documentary "Enron: The Smartest Guys in the Room."
History in the making for DCTH's PHP treatment.
Written by Douglas Estadt
Eric Whitman, MD, of http://drericwhitman.wordpress.com/, is a board certified surgical oncologist specializing in the care of patients with melanoma, joins us today for an exclusive interview regarding the DTCH presentation at The American Society of Clinical Oncology (ASCO) Annual Meeting.
- Survival rate tripled for cancer patients treated with PHP (Percutaneous Hepatic Perfusion) - 398 days vs. 124 with best alternative care
The magic formula: Ad "pods" within episodes, plus specific demographic data
While The CW may only take in 15% to 20% as much in primetime television ad dollars this year when compared with the Big Four, the speed at which media agencies gobbled up its "convergence packages" Thursday night clearly shows that a nerve was struck.
The result is a potential blueprint for the entire television industry.
Europe needs Germany to step up and spend more, but the country has proposed spending cuts and tax increases.
In gauging the dimensions of a crisis, you have to make certain assumptions.
One thing I've assumed about the current euro debt crisis is that no politician there would do something unusually stupid. Venial. Short-sighted. Duplicitous. Sure. But not something so really stupid that it would raise damage from the crisis by an order of magnitude.
Well, I'm seeing exactly that level of “really stupid” starting to gather momentum. And the source is Chancellor Angela Merkel's government in Germany.
Chief executive Steve Jobs pushes videoconferencing into the mainstream with new feature.
Apple calls it FaceTime, and unveiled the feature Monday as part of its new iPhone announcement. The new iPhone 4 will have a front-facing camera, which is perfect for videoconferencing. Hold the phone in front of your face, instead of at your ear, for a video call.
Video calling isn't a big deal in the corporate world, but it's practically unheard of for mainstream mobile users. Even Apple won't change that immediately -- FaceTime will only run on Wi-fi at first -- but the company is working with carriers to get on 3G networks.
A well-known banking analyst lowers his price target for the nation's largest bank.
Richard Bove, a well-known banking analyst, has lowered his price target for the stock, staying it faces "serious challenges" from multiple sources, according to The New York Times.
And it was a pretty steep drop. Bove's target price is now $22.80, down from his earlier target of $27.50. The stock is trading at about $15.
Safeway, Supervalu and others help organize opposition to new Walmart locations to preserve market share.
The Wall Street Journal reports that competing chains such as Safeway (SWY), Supervalu (SVU) and others retain a consulting firm to lead the charge against a new Wal-Mart store. That means that some of those "concerned citizens" writing letters to the editor may actually be sticking up for corporate interests and not the community’s welfare.
Sprint's new Evo is packed with features, making it a serious rival to the iPhone and BlackBerry.
By Jonathan Blum, TheStreet
There's a new small-business mobile beast loose in the land: the Sprint (S) Evo.
Finally, after, I kid you not, almost a year of speculation, pre-announcements, announcements and other marketing drivel, Sprint's premier 4G superphone, the HTC Evo, is on sale. And while far from perfect -- much more on clunk factor, grim battery life and cost -- the Google (GOOG) Android-powered Evo offers a legitimate, small-business option between the Apple (AAPL) iPhone and the full line of Research in Motion (RIMM) BlackBerry devices.
Without question, the Evo’s bright screen, blazing multi-tasking performance and support for critical business tools compete at the highest levels in the mobile-business-device market.
Time to trim out losing positions and accumulate some cash for a sunny day
I have no crystal ball to tell me what the market will do. I do have a system or discipline that I use. I'm long when the market is rising and the economy is expanding. I'm short when the economy is contracting and the market is tanking. When the market and the economy are in trending in different directions -- as they are now -- I trim poorly performing positions and accumulate cash till things straighten themselves out.
Sunday night has become 'panic night' as nervous investors give in to their emotions.
By Jim Cramer, TheStreet
What happens to traders on Sunday night that drives them to such levels of despair? How can they send oil down to $69 and the Nasdaq ($COMPX) futures down 22 ticks? What gives? How can they be so, well, wrong?
Now it is easy to say "they will be right," but the fact is that the Sunday night futures are some bizarre anti-tell, the sum of all fears, the sense that doom is here and that we will crash Monday. That's why you sell down that hard, because you think we will crash.
It's age-old and ingrained. A really horrible Friday will ineluctably yield a much worse Monday. So just get ready for it and blast out everything, regardless of the available news – which included reports of European bankers actually talking about how to save things, and a decrease in the disastrous Gulf spill.
Boston Consulting Group did a study on investing in African businesses -- Here's a list of how you can add them to your portfolio
Why would you want to invest in Africa? Here are some points they make about Africa:
- With just 4% of global GDP they have 20% of the world's land and 15% of it's population
- Between 2000 and 2008 Africa's GDP grew 5.3% annually but the global GDP only grew 4% for the same time frame
- In 2009 Africa's GDP grew 2% -- US dropped 4%, EU dropped 2.8%, Latin America dropped 1.5%
- These companies do business not only in their own country but in the rest of Africa and around the world as well
- The companies mentioned in their survey far outstripped the rest of the world in increased sales and earnings growth
Lot's of bad news all around. The market was in free fall. Just how bad was it?
Value Line Index -- I like this Index better than the S&P 500 or the much narrower Dow 30 because it contains 1700 stocks so it gives me a better feel of the overall market and not just the large caps -- This week the Index is down
- For the week the Index lost 3.58%
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Plus, after much ado, Softbank is oh-so-close to acquiring Sprint.
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[BRIEFING.COM] Equities ended on their lows with the S&P 500 down 1.4%.
The S&P entered today's session with a week-to-date gain of 1.5% as investors expected reassuring words from today's Federal Open Market Committee Statement.
Stocks traded with slim losses until this afternoon's FOMC Statement and subsequent comments from Chairman Bernanke sent equities and Treasuries to their lows while also providing a significant boost to the dollar.
Today's Statement was ... More
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