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Apr-28-2008

Headlines for April 28

Analysts see Microsoft going hostile  for Yahoo 

Most of Wall Street analysts believe Microsoft (stock ticker: MSFT) now faces a drawn-out proxy campaign to win its unsolicited takeover of Yahoo (YHOO), a Reuters poll found. The general view in February when Microsoft announced its offer was that Yahoo! would agree to a friendly merger if Microsoft were to sweeten its bid. Microsoft executives said they will reveal their next move this week.

Market awaits for Visa and Mastercard´s earning annoucement and outlook

Investors seem optimists about the market conditions since Wall Street´s most important indices are in possitive territory. Visa is fluctuating very much, and has lost some momentum. A lot of expectations pressures Visa (V) to report better than expected earnings and a favourable outlook. 

Oil jumps above $120 on supply worries Crude oil rose to another record high, trading near $120 a barrel in New York on supply concerns.  BP (Big Oil, the world´s thirdlargest integrated oil concern), shut down at North Sea pipeline because of a strike at a Scottish refinery, and gunmen attacked police guarding Nigeria’s largest oil and gas terminal.

Berkshire reportedly near sale of Wrigley to Mars Inc.

Warren Buffett’s is close to selling chewing-gum maker Wringler Jr (stock qoute: WWY) to Mars for approximately $23 billion, The Wall Street Journal reported. Under one scenario under discussion, Berkshire would likely provide financing to Mars for the deal and become a stakeholder in Wrigley, the Journal said, citing unnamed people familiar with the matter. A deal would expand Mars’ global reach since Wrigley generates most of its sales outside the U.S.

Moody´s issues negative outlooks for 32 European companies 

European corporate credit quality is sinking fast, Moody´s said. The credit ratings agency assigned “negative” outlooks to 32 European companies in the first quarter and “positive” ratings to 11 others. The gap indicates deteriorating credit quality in the face of rising oil prices, the possibility of a U.S. recession and the euro’s strength.

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