Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Spotlight Stocks: Goldman, Intel, Time Warner, Toyota


Wednesday's top stories and stocks with potential to move.


Stocks to watch for Wednesday, July 16, 2008:

  • Goldman Sachs (GS) is being accused by executives at Bear Stearns and Lehman Brothers (LEH) of helping along the process to their demise. The Wall Street Journal reported former Bear CEO Alan Schwartz said GS traders in London had manipulated the firm's stock price in the days leading to its fall. LEH CEO Richard Fuld Jr. also reportedly alleged that Goldman traders had been spreading negative rumors about the firm. Goldman CEO Lloyd Blankfein said he would act "severely" if he ever discovered this type of behavior had occurred.

  • Intel (INTC) reported 2Q net income of $1.6 billion, or 28 cents a share, a 25% leap from $1.28 billion, or 22 cents a share a year ago and beating Street expectations. Strong sales of laptop chips helped the results as CEO Paul Otellini said, demand was strong "in all segments and all parts of the globe." Shares rose 23 cents, or 1.1 percent, to $20.94 in after-hours trading.

  • Time Warner (TWX) is looking to speedily complete a deal where it would either merge or sell its AOL unit to Microsoft (MSFT) or Yahoo (YHOO). Reuters reports, citing a source familiar with the matter, that the company hopes the talks are finished by a deadline of August 1, when Yahoo holds its important shareholders meeting. Terms of any proposed deal are not currently available. It is likely a deal with Yahoo would be a merger of sorts, while Microsoft is more likely to buy the AOL unit.

  • Toyota (TM) said it will cut its global sales forecast for fiscal 2008 to 9.5 million vehicles, or a 3.6% decline, as the economic and consumer slowdown continues to pinch its efforts in the US and Japan, said Reuters. The official announcement of the cuts, which are in line with analyst expectations, is expected this month.

Market Recap

  • Asian trading closed with the Hang Seng +0.23%, Nikkei +0.05%, Sensex -0.79%, Taiwan -1.81% and Shanghai -2.65%.

  • A quick check of Europe finds the CAC -1.13%, DAX -0.83%, FTSE -1.28%, ATX -2.45%, Swiss Mkt. -1.57% and Stockholm -0.57%.

  • In commodities, crude oil is lower -0.78 to 137.96 and gold is also down -1.4 to 977.4 this morning.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos