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: AIG, Cisco, Goldman, Yahoo

By

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

PrintPRINT

Stocks to watch for Wednesday, September 24, 2008:

  • American International Group (AIG) said it has reached a definitive agreement with the Federal Reserve worth up to $85 billion. Overall, the Fed will gain a 79.9% stake in the company, reported Reuters. AIG will have to pay back the loan from mainly asset sales and new debt or share issues.

  • Cisco (CSCO) is expected to announce a new line of products which will connect people in businesses more effectively. For example, Cisco WebEx Connect will integrate tools such as instant messenger and video conferencing into conventional software, reported The Wall Street Journal. Cisco believes the market for this product to be worth about $34 billion.

  • Goldman Sachs (GS) saw billionaire Warren Buffett take a $5 billion stake via his company Berkshire Hathaway (BRK-A). This seems to be a bet that the $700 billion bailout of the financial system will be effective. According to The Wall Street Journal, "The deal is structured in two parts, giving Berkshire a stream of cash and potential ownership of roughly 10% of Goldman. Berkshire will spend $5 billion on "perpetual" preferred shares of Goldman."

  • Yahoo's (YHOO) board approved discussions to be held regarding Time Warner's (TWX) AOL unit. The company's new directors met for the first time since Carl Icahn was given clearance to the boardroom, reported the Financial Times.


Market Recap

  • Asian trading closed with the Hang Seng +0.47%, Nikkei +0.20%, Sensex +1.17%, Taiwan -0.80% and Shanghai +0.70%.

  • A quick check across the pond finds the CAC -0.31%, DAX -0.09%, FTSE -0.43%, ATX -0.39%, Swiss Market +0.54% and Stockholm -0.35%.

  • Commodities are up with crude oil +2.54 to 109.15 and gold +3.5 to 889.4 this morning.
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.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE