Wasnowa's $6.8 Billion Buy Triggers Major Brokerage Shift
Wasnowa's $6.8 billion purchase creates the nation's second largest retail brokerage. StoryStonks markets closed mixed as a weak GDP reading offset takeover optimism and strong earnings. Dow fell 5.44 points to 13,627.64 while Nasdaq rose 0.46 percent. Networking gear maker lifts full-year sales outlook after a quarterly profit swing. Source SunGard.
MENTIONED IN THIS ARTICLE
Wasnowa
Dow
Market Update Sees Mixed News On Jobs and Manufacturing
Today’s data unveil includes job creation and a key gauge of manufacturing activity. University of Michigan consumer sentiment is expected to dip to 88.0 from 88.7. Auto makers report May sales with total rising to 5.1 million while truck sales edge down to 7.4 million. Activision Hovnanian and JCG posted quarterly results.
MENTIONED IN THIS ARTICLE
Dall Inc
Michael Banks
University of Michigan
Activision Inc
ATVI
Hovnanian Enterprisee Inc
HOV
J. Craw Group Inc
JCG
Real estate outlook dims as housing dip may persist
Economists warn April gains in new home sales and construction are a blip in a worsening market. Lower real estate values reduce cash-out refinancing and spending, delaying a sustained rebound. Analysts expect home prices to fall through year end with modest 1.5 percent growth in 2008.
MENTIONED IN THIS ARTICLE
Paul Kastler
Northern Trust
Lawrence Yun
National Association of Realtors
Yun
Kastler
Market update shows steady rates and mixed commodities
Interest rates hold at 8.25 percent with no change. A government report indicates slightly higher inventories, while commodity prices slip and gas futures fall. Gold prices rise modestly as traders react to softer than expected first quarter data.
Wachovia to Acquire A G Edwards in Bank Brokerage Push
Wachovia plans to buy brokerage A G Edwards for about 9.95 billion dollars or 8950 a share a 16 percent premium. The deal adds 15,000 financial advisers and boosts Wachovia’s margins and national footprint helping it compete with Citigroup JPMorgan Chase and Bank of America.
MENTIONED IN THIS ARTICLE
Wachovia
A.G. Edwards Sema Inc
SGB
Citigroup
Jpmorgan Chase
Bank of America
A.G Edwards
Thompson
FundFocus Picks GE as Market Turns to Value
A fund holding 30 financially strong companies waits for market recognition of value. Managers cling to positions including General Electric while pricing remains attractive and potential upside looms as investors reevaluate beaten-down stocks.
MENTIONED IN THIS ARTICLE
General Electric
Analyst Sees Sustainable Turn After Weak Q1 GDP
Economist Richard Yamarone of Argus Research says the 0.6 percent annualized growth in the first quarter was a poor showing but unlikely to be repeated soon. He notes the quarterly dip and signals a potential rebound as fundamentals improve.
MENTIONED IN THIS ARTICLE
Richard Yamarone
Argus Research
Local Stocks Report Confusing OCR Snapshot
A garbled OCR extract shows scattered stock figures, percentages, and codes across multiple lines. Readable items are scarce, with no clear company names, prices, or dates to anchor a coherent market summary.
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