Main market news here. Stock futures, which started the morning positive, then turned mixed, are now negative with 45 minutes to go until the opening bell.
Verizon Communication's (NYSE:VZ) Verizon Wireless will deliver selected video clips from Google, Inc.'s (NASDAQ:GOOG) YouTube to cell phones starting in December. With YouTube being the leader in online video sharing, Verizon hopes to increase subscriptions to its mobile media service. This works well for YouTube's wishes to to expand beyond computers to phones. Financial terms were not disclosed.
Wal-Mart Stores, Inc. (NYSE:WMT) announced it will launch its own video downloads service this week. Currently, Wal-Mart accounts for about 40% of all DVD sales in the U.S. While analysts say that with this service Wal-Mart can protect that DVD market dominance. I just hope the DVD download site will perform better that Wal-Mart's website did during Black Friday.
After only 40 days on the job, Yahoo China's president, Xie Wen, has resigned ... for personal reasons. He joined Yahoo China on Oct. 17. Yahoo!, Inc. (NYSE:YHOO) has a 40% stake in Alibaba, which owns Yahoo China. The goal of Jack Ma to make Yahoo China profitable in 2007, may have played a part in this. Yahoo China still lags far behind Baidu Inc. (NASDAQ:BIDU), which has roughly half of the market, and Google Inc. (NASDAQ:GOOG).
Pfizer Inc., (NYSE:PFE) said it will discontinue its collaboration with Organon, a unit of Akzo Nobel NV, canceling the development of the schizophrenia treatment asenapine due to being commercially nonviable. Pfizer will return all product rights, intellectual property and data to Organon which will continue to develop the drug.
Time Warner, Inc.'s (NYSE:TWX) Warner Bros' new movie "Blood Diamond" about the bloody diamond trade in Africa to be released next month is picking up steam as it garners media attention.
TheStreet.com looks at yesterday's selloff and urges caution. The possible stocks that could present a good buy include Google, Inc. (NASDAQ:GOOG), Apple Computer, Inc. (NASDAQ:AAPL), Research in Motion (NASDAQ:RIMM) and NYSE Group (NYSE:NYX).
Following yesterday, CNNMoney.com also looked at blue-chip stocks and found that most have some exposure to real-estate or other problematic area in the current economic climate. Anadarko (NYSE:APC) seems to be the one best positioned, according to the article, while the Home Depot Co. (NYSE:HD), Citigroup (NYSE:C), Caterpillar (NYSE:CAT), Pfizer (NYSE:PF) and Aloca (NYSE:AA) have risky exposures and dependencies. And these are just a few listed in the article.
Forbes published today earnings revisions to its beltway index, noting that stock analysts have recently bumped up include Dell, Inc. (NASDAQ:DELL) and Hewlett-Packard Co. (NYSE:HPQ).
Comfort Zone Investing: Buffett buys Burlington
Six top trades for the rest of 2009
Senator Sanders proposes legislation to break up large banks
Reader Comments (Page 1 of 1)
11-28-2006 @ 5:25PM
FeedTheBull said...
This week has been a pretty rough time for the stock market. With 140 point drop on Monday and then Bernanke saying that inflation is still high, it has really played a toll on the market. I am afraid that people are going to over-react and we are going to see a large sell off, not that it is necessarily a bad thing, but I don't think it will be warranted. As Warren Buffett says, Mr. Market is a Manic Depressive and has wide swings in daily emotions. We will have to wait and see how it plays out.
I also want to mention, my site, http://www.feedthebull.com has a lot of great stories, articles and blogs on there as well. You might find something interesting there as well. And, if you register, for free, you can submit your own blog or article or story and vote for others. http://www.feedthebull.com/register.php