2009年1月18日星期日
期货市场 资金推动沪燃油逆市走高
华闻期货1月16日燃油周评
资金推动沪燃油逆市走高
本周沪燃油在多头资金推动下，未受国际原油下跌影响，逆市大涨。在周二随前夜国际原油价格走低后，在多头资金推动下，沪燃油在下半周持续上涨。多空双方逐渐将持仓由0903合约向0905合约迁移，0905合约成为新的主力合约。主力合约0905合约本周收盘价3060，较上周大涨170点，几近本周最高点收盘。成交量因迁仓较上周大幅放大，总体持仓大幅增加9万6千多手。主力多头在0905合约连续大幅增仓，不过周五主力空头也在大幅增仓，其中现货商中油燃料增仓4500手。本周上期所燃料油库存没有变化，注册仓单增加1500吨。技术分析方面，从周线上看，收带下影线阳线，价格在5周均线之上，接近20周均线。5周均线上穿10周均线。日K线图上，价格在下半周重上5日均线之上。均线系统保持向上多头排列。技术上沪燃油仍保持上涨趋势，但因多空双方主力都大幅增仓，预计沪燃油价格波动程度将加剧。
一、利空因素影响，国际原油近期价格逼近5年低点，但远月坚挺国际原油价格本周继续回落，逼近五年低点。受石油输出国组织(OPEC)预期全球需求疲弱，本地经济数据黯淡和美国石油库存大增等因素影响，国际原油价格继续回落。NYMEX 2月轻质低硫原油期货结算价跌1.88美元，至每桶35.40美元，下跌4.96美元。NYMEX 2月轻质低硫原油期货合约走势与其他合约相背离，其他原油价格指数仍稳稳站在每桶40美元上方。NYMEX位于俄克拉何马州库欣原油合约交割点的可用储油空间所剩无几，交易员必须确保在1月结束前不进行任何实物交割，否则将支付高昂的空储存油罐租赁费。原油合约交割点的原油库存在截至1月9日当周触及3,300万桶的纪录高点。炼油厂需求仍然疲软，这意味着储油空间吃紧或导致三月期货合约追随二月期货合约的走势。美国燃料需求大减导致其原油库存增至16个月来的最高水平。美国能源部声称，截止1月9日当周，美国原油库存增加了114万桶至3.266亿桶。而汽油和馏分油的供给也同样增加。美国燃料需求下降6%至186万桶/天，是自04年2月以来的最大单周跌幅。美国能源安全分析公司原油分析师Rick Mueller称，这份报告没有任何利好因子。需求糟糕，即使天气寒冷炼油厂生产的燃料也多于需求。欧佩克几个成员国及其秘书长暗示欧佩克或采取第三轮减产措施的言论提振了市场人气。欧佩克下次会议定于3月15日召开。欧佩克秘书长巴德里13日表示，如果市场供应过剩的状况依然延续，欧佩克或在定于3月15日召开的会议上采取进一步措施，以使市场供求恢复平衡。利空因素仍然打压国际原油价格，2月合约更因库存因素而逼近5年低点。不过远月合约仍保持在40美元上方，保持坚挺。三、新加坡燃料油价格坚挺新加坡亚洲基准180CST燃料油市场价格本周因供应紧张保持坚挺。周四基准180CST燃料油现货价格，至256.50美元美元/吨，较上周小幅上升。如果经济低迷状况进一步打压全球交易的话，包括马士基在内的船运公司将增加“停运”船的数量，马士基集团首席执行官Nils S. Andersen表示；“根据需要，我们可能会减少运输网络中的运船量，10、12或20只。”停运船只数量增多可能会打压全球船用燃料油的销量；新加坡最大的船用燃料油购买商马士基的月度购买量在100万吨以上，目前其已经宣布2009年的购买量将减少8%。欧洲天然气危机支撑市场，因流入东方的燃料油套利船货供应在欧洲用户转用燃料油后可能将减少。欧洲天然气危机迫使更多国家转用燃料油。预期来自黑海的供应将减少。不过，市场面可能将很快走疲，因俄罗斯向欧洲供应天然气恢复正常，新加坡燃料油库存可能也将在未来两周内激增，因西方套利船货供应增加。2月份来自加勒比海和欧洲的套利船货供应可能仍会高达340万吨左右。船期显示，1月供应量为380万吨。1月套利船货供应量高及中国下调燃油价格可能打压市场。中国政府周二下调汽柴油零售价格，可能将吞噬小型炼商的利润，并打压直馏燃料油需求，尤其在新的燃油税开征后。直馏燃料油为小型炼厂生产原料。因此，新加坡燃料油价格后势将保持震荡走低走势。四、国内现货价格仍以稳定为主华南黄埔燃料油市场本周价格仍以稳定为主。目前黄埔市场国产调和180CST 燃料油的主流报价仍稳定于2600-2850元/吨。据了解，近期市场有少量交易达成，实际成交价约在2650元/吨。国产重油方面，主营炼厂的油浆报价仍稳于2200-2500元/吨，节前终端需求有限，炼厂表示价格将以稳为主。广东小炼厂高硫渣油的整体报价大体维持在2400元/吨左右。目前炼厂整体库存不高，对价格形成支撑，地炼整体开工率偏低。当前，新加坡市场现货180CST燃料油价格较为坚挺，据测算，到华南黄埔的进口成本大致在3248元/吨，与目前华南市场的成交价格相比，倒挂约500元/吨左右。这也是继消费税新政实施后，对进口商的又一打击。本月，华南地区进口到货环比锐减，截至目前，本周进口到货再现零纪录，进口商大多心灰意冷，加之临近春节，操作愈加谨慎。此外，由于国际油价的持续走低，广东小炼厂的炼油成本再度回落，理论上的炼油利润有所增加，但下游销售疲软，炼厂仍缺乏开工积极性，好在现货库存不多，价格大跌的可能性不大。
综上所述，国际原油价格未见上涨的迹象，沪燃油在资金多头推动下大幅逆市上涨。预计后势多空双方争夺激烈，沪燃油价格将震荡激烈。建议观望。
资金推动沪燃油逆市走高
本周沪燃油在多头资金推动下，未受国际原油下跌影响，逆市大涨。在周二随前夜国际原油价格走低后，在多头资金推动下，沪燃油在下半周持续上涨。多空双方逐渐将持仓由0903合约向0905合约迁移，0905合约成为新的主力合约。主力合约0905合约本周收盘价3060，较上周大涨170点，几近本周最高点收盘。成交量因迁仓较上周大幅放大，总体持仓大幅增加9万6千多手。主力多头在0905合约连续大幅增仓，不过周五主力空头也在大幅增仓，其中现货商中油燃料增仓4500手。本周上期所燃料油库存没有变化，注册仓单增加1500吨。技术分析方面，从周线上看，收带下影线阳线，价格在5周均线之上，接近20周均线。5周均线上穿10周均线。日K线图上，价格在下半周重上5日均线之上。均线系统保持向上多头排列。技术上沪燃油仍保持上涨趋势，但因多空双方主力都大幅增仓，预计沪燃油价格波动程度将加剧。
一、利空因素影响，国际原油近期价格逼近5年低点，但远月坚挺国际原油价格本周继续回落，逼近五年低点。受石油输出国组织(OPEC)预期全球需求疲弱，本地经济数据黯淡和美国石油库存大增等因素影响，国际原油价格继续回落。NYMEX 2月轻质低硫原油期货结算价跌1.88美元，至每桶35.40美元，下跌4.96美元。NYMEX 2月轻质低硫原油期货合约走势与其他合约相背离，其他原油价格指数仍稳稳站在每桶40美元上方。NYMEX位于俄克拉何马州库欣原油合约交割点的可用储油空间所剩无几，交易员必须确保在1月结束前不进行任何实物交割，否则将支付高昂的空储存油罐租赁费。原油合约交割点的原油库存在截至1月9日当周触及3,300万桶的纪录高点。炼油厂需求仍然疲软，这意味着储油空间吃紧或导致三月期货合约追随二月期货合约的走势。美国燃料需求大减导致其原油库存增至16个月来的最高水平。美国能源部声称，截止1月9日当周，美国原油库存增加了114万桶至3.266亿桶。而汽油和馏分油的供给也同样增加。美国燃料需求下降6%至186万桶/天，是自04年2月以来的最大单周跌幅。美国能源安全分析公司原油分析师Rick Mueller称，这份报告没有任何利好因子。需求糟糕，即使天气寒冷炼油厂生产的燃料也多于需求。欧佩克几个成员国及其秘书长暗示欧佩克或采取第三轮减产措施的言论提振了市场人气。欧佩克下次会议定于3月15日召开。欧佩克秘书长巴德里13日表示，如果市场供应过剩的状况依然延续，欧佩克或在定于3月15日召开的会议上采取进一步措施，以使市场供求恢复平衡。利空因素仍然打压国际原油价格，2月合约更因库存因素而逼近5年低点。不过远月合约仍保持在40美元上方，保持坚挺。三、新加坡燃料油价格坚挺新加坡亚洲基准180CST燃料油市场价格本周因供应紧张保持坚挺。周四基准180CST燃料油现货价格，至256.50美元美元/吨，较上周小幅上升。如果经济低迷状况进一步打压全球交易的话，包括马士基在内的船运公司将增加“停运”船的数量，马士基集团首席执行官Nils S. Andersen表示；“根据需要，我们可能会减少运输网络中的运船量，10、12或20只。”停运船只数量增多可能会打压全球船用燃料油的销量；新加坡最大的船用燃料油购买商马士基的月度购买量在100万吨以上，目前其已经宣布2009年的购买量将减少8%。欧洲天然气危机支撑市场，因流入东方的燃料油套利船货供应在欧洲用户转用燃料油后可能将减少。欧洲天然气危机迫使更多国家转用燃料油。预期来自黑海的供应将减少。不过，市场面可能将很快走疲，因俄罗斯向欧洲供应天然气恢复正常，新加坡燃料油库存可能也将在未来两周内激增，因西方套利船货供应增加。2月份来自加勒比海和欧洲的套利船货供应可能仍会高达340万吨左右。船期显示，1月供应量为380万吨。1月套利船货供应量高及中国下调燃油价格可能打压市场。中国政府周二下调汽柴油零售价格，可能将吞噬小型炼商的利润，并打压直馏燃料油需求，尤其在新的燃油税开征后。直馏燃料油为小型炼厂生产原料。因此，新加坡燃料油价格后势将保持震荡走低走势。四、国内现货价格仍以稳定为主华南黄埔燃料油市场本周价格仍以稳定为主。目前黄埔市场国产调和180CST 燃料油的主流报价仍稳定于2600-2850元/吨。据了解，近期市场有少量交易达成，实际成交价约在2650元/吨。国产重油方面，主营炼厂的油浆报价仍稳于2200-2500元/吨，节前终端需求有限，炼厂表示价格将以稳为主。广东小炼厂高硫渣油的整体报价大体维持在2400元/吨左右。目前炼厂整体库存不高，对价格形成支撑，地炼整体开工率偏低。当前，新加坡市场现货180CST燃料油价格较为坚挺，据测算，到华南黄埔的进口成本大致在3248元/吨，与目前华南市场的成交价格相比，倒挂约500元/吨左右。这也是继消费税新政实施后，对进口商的又一打击。本月，华南地区进口到货环比锐减，截至目前，本周进口到货再现零纪录，进口商大多心灰意冷，加之临近春节，操作愈加谨慎。此外，由于国际油价的持续走低，广东小炼厂的炼油成本再度回落，理论上的炼油利润有所增加，但下游销售疲软，炼厂仍缺乏开工积极性，好在现货库存不多，价格大跌的可能性不大。
综上所述，国际原油价格未见上涨的迹象，沪燃油在资金多头推动下大幅逆市上涨。预计后势多空双方争夺激烈，沪燃油价格将震荡激烈。建议观望。
MarketWatch Headlines
MarketWatch Headlines
Illinois-based Nat'l Bank of Commerce closed At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Berkeley, Ill.-based National Bank of Commerce was closed by regulators Friday, marking the first bank failure of 2009, the Federal Deposit Insurance Corporation said in a statement. Republic Bank of Chicago will assume all of National Bank of Commerce's deposits, while the two locations of National Bank of Commerce will reopen Saturday as branches of Republic Bank, the FDIC said. National Commerce Bank had total deposits of $402.1 million as of Jan. 7, and total assets of $430.9 million, the FDIC said.
U.S. government mulls state-run 'bad bank,' WSJ reports At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- The U.S. government is considering new ways to steady the financial system, including the possible creation of a state-run "bad bank" that would buy troubled assets from struggling lenders, the Wall Street Journal reported late Friday. Officials at the Treasury, Federal Reserve and Federal Deposit Insurance Corp., in consultation with the incoming Obama administration, are discussing a range of options because they realize the banking crisis is larger than originally thought, the newspaper explained. Another possible solution would standardize efforts to have...
Gannett to close Tucson Citizen if it can't sell assets At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Gannett Co. said late Friday it is seeking a buyer for certain assets of the Arizona-based Tucson Citizen. The newspaper company said that if a sale is not completed by March 21, it will have to close the paper.
ConocoPhillips to trim work force by 4% At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- ConocoPhillips said late Friday it will trim its work force by about 4%, and will reduce the number of contractors it uses. The announcement comes as the oil company approved a $12.5 billion capital program for 2009, down from $15.3 billion in 2008. ConocoPhillips has just over 32,000 employees. Shares of ConocoPhillips fell 2.1% to $48.35 in after-hours activity.
ConocoPhillips outlines 2009 capital program At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- ConocoPhillips said late Friday it approved a capital program of $12.5 billion for 2009. The oil company said that $11.7 billion of the amount is the company's 2009 capital budget and $800 million will fund a business venture with exploration and production company EnCana Corp. . ConocoPhillips said that about 82% of the capital program will go toward exploration and production, and 16% will go toward refining and marketing.
Moody's cuts BofA, Merrill Lynch on quarterly losses At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Friday lowered the debt ratings of Bank of America Corp. and Merrill Lynch & Co. to A1 from Aa3. The downgrade follows the disclosure of substantial losses at Merrill Lynch in the fourth quarter and more modest losses at Bank of America. "Moody's views positively the actions taken by Bank of America to limit further losses in the asset pool, to bolster its Tier 1 capital, and to cut its common dividend. However, in light of the magnitude of losses at Merrill Lynch, Moody's has concerns that the risk management challenges at Merrill...
U.S. stocks off for week as financials roil market At MarketWatch 01/16/09
NEW YORK (MarketWatch) -- U.S. stocks on Friday ended with daily gains and weekly losses after an up-and-down day that had some of the biggest financial companies hit. The Dow Jones Industrial Average climbed 68.73 points, or 0.8%, to 8,281.22, leaving it down 3.7% from last Friday's close. The S&P 500 gained 6.38 points, or 0.8%, to 850.12, leaving the broad market indicator with a weekly loss of 4.5%. The Nasdaq Composite added 17.49 points, or 1.2%, to stand at 1,529.33, down 2.7% from a week ago.
Moody's may cut Citi, notes concerns over preferred dividend At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Friday placed Citigroup Inc.'s long-term debt rating of A2 as well as its Prime-1 short-term rating under review for possible downgrade. Moody's also lowered its ratings on preferred stock issued by Citigroup to Baa3 from Baa2 due to greater possibility that preferred dividends could be deferred. "Citigroup's current preferred dividend payments are a hurdle for future capital generation, especially when considering Citigroup's poor earnings prospects for 2009," said Sean Jones, Moody's senior vice-president. The review will focus on...
Barclays sees full-year profit topping analyst forecasts At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Barclays PLC said Friday that full-year profit will likely exceed analyst forecasts, adding that directors of the bank know no reason why its share price slumped. The board of the U.K. bank expects full-year pre-tax profit, including all costs, impairments and market valuations, to come in above 5.3 billion pounds, which is the consensus forecast of sell-side analysts. Barclays also said its tier one capital ratio will be roughly 9.5% at the end of 2008. This ratio is a closely watched measure of banks' financial strength. Barclays shares slumped 25% during...
Toyota recalls 214,500 Lexus cars over possible fuel leak At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Toyota Motor Corp. said Friday it is recalling about 214,500 Lexus cars in the United States because of possible fuel leaks. The company said that ethanol fuels could corrode fuel delivery pipes and result in a leak. The recall affects certain 2006 through 2008 models of GS300/350, IS250/350, and LS460/460L vehicles.
Oil rises on short-covering; loses 10.6% in week At MarketWatch 01/16/09
NEW YORK (MarketWatch) -- Crude-oil futures erased earlier losses Friday, rallying more than 2% as traders short-selling February oil bought the contract to cover their positions before February futures expire on Tuesday. Meanwhile, traders moved their short positions to March futures, the next front-month contract, pushing down the March contract by more than 2% and shrinking the price difference between the two successive futures contracts.Crude for February delivery ended up $1.11, or 3.1%, at $36.51 a barrel on the New York Mercantile Exchange. It dropped 3.4% to as low as $34.18...
AMD to record $684 million charge related to ATI purchase At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) - Advanced Micro Devices Inc. on Friday said it will record a $622 million goodwill impairment charge related to its acquisition of ATI Technologies. The Sunnyvale, Calif.-based chip giant said it is also posting an additional $62 million charge related to its purchase of the graphics chip company in 2006.
Europe says Microsoft can't include its browser in Windows At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- European antitrust regulators have told Microsoft Corp. that the company's practice of including its Internet browser with its popular Windows operating system violates European competition law, Microsoft said Friday. Microsoft said in a statement that it's been told that related remedies put in place by U.S. courts when Microsoft settled an antitrust case in this country in 2002 are not adequate for Europe, though a "final determination" hasn't been made on the matter. Microsoft said it is "studying the statement of objections" from the European Commission and...
S&P affirms Citi counterparty rating, has dividend concerns At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Standard & Poor's affirmed its counterparty credit rating on Citigroup Inc. Friday, but lowered its hybrid capital issues rating because of dividend concerns. The action comes after Citi posted a net fourth-quarter loss of $8.29 billion and announced plans to reorganize the company. The ratings agency has a A/A-1 counterparty credit rating on Citi with a stable outlook. S&P cut its ratings on Citi's hybrid capital issues to BB from BBB, on increased concerns that dividend payments could be deferred.
ConAgra names John Gehring as chief financial officer At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- ConAgra Foods Inc. said Friday it named John Gehring, currently senior vice president and controller, as executive vice president and chief financial officer. Gehring succeeds Andre Hawaux who was promoted to president of consumer foods unit.More MarketWatch headlines...
Illinois-based Nat'l Bank of Commerce closed At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Berkeley, Ill.-based National Bank of Commerce was closed by regulators Friday, marking the first bank failure of 2009, the Federal Deposit Insurance Corporation said in a statement. Republic Bank of Chicago will assume all of National Bank of Commerce's deposits, while the two locations of National Bank of Commerce will reopen Saturday as branches of Republic Bank, the FDIC said. National Commerce Bank had total deposits of $402.1 million as of Jan. 7, and total assets of $430.9 million, the FDIC said.
U.S. government mulls state-run 'bad bank,' WSJ reports At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- The U.S. government is considering new ways to steady the financial system, including the possible creation of a state-run "bad bank" that would buy troubled assets from struggling lenders, the Wall Street Journal reported late Friday. Officials at the Treasury, Federal Reserve and Federal Deposit Insurance Corp., in consultation with the incoming Obama administration, are discussing a range of options because they realize the banking crisis is larger than originally thought, the newspaper explained. Another possible solution would standardize efforts to have...
Gannett to close Tucson Citizen if it can't sell assets At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Gannett Co. said late Friday it is seeking a buyer for certain assets of the Arizona-based Tucson Citizen. The newspaper company said that if a sale is not completed by March 21, it will have to close the paper.
ConocoPhillips to trim work force by 4% At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- ConocoPhillips said late Friday it will trim its work force by about 4%, and will reduce the number of contractors it uses. The announcement comes as the oil company approved a $12.5 billion capital program for 2009, down from $15.3 billion in 2008. ConocoPhillips has just over 32,000 employees. Shares of ConocoPhillips fell 2.1% to $48.35 in after-hours activity.
ConocoPhillips outlines 2009 capital program At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- ConocoPhillips said late Friday it approved a capital program of $12.5 billion for 2009. The oil company said that $11.7 billion of the amount is the company's 2009 capital budget and $800 million will fund a business venture with exploration and production company EnCana Corp. . ConocoPhillips said that about 82% of the capital program will go toward exploration and production, and 16% will go toward refining and marketing.
Moody's cuts BofA, Merrill Lynch on quarterly losses At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Friday lowered the debt ratings of Bank of America Corp. and Merrill Lynch & Co. to A1 from Aa3. The downgrade follows the disclosure of substantial losses at Merrill Lynch in the fourth quarter and more modest losses at Bank of America. "Moody's views positively the actions taken by Bank of America to limit further losses in the asset pool, to bolster its Tier 1 capital, and to cut its common dividend. However, in light of the magnitude of losses at Merrill Lynch, Moody's has concerns that the risk management challenges at Merrill...
U.S. stocks off for week as financials roil market At MarketWatch 01/16/09
NEW YORK (MarketWatch) -- U.S. stocks on Friday ended with daily gains and weekly losses after an up-and-down day that had some of the biggest financial companies hit. The Dow Jones Industrial Average climbed 68.73 points, or 0.8%, to 8,281.22, leaving it down 3.7% from last Friday's close. The S&P 500 gained 6.38 points, or 0.8%, to 850.12, leaving the broad market indicator with a weekly loss of 4.5%. The Nasdaq Composite added 17.49 points, or 1.2%, to stand at 1,529.33, down 2.7% from a week ago.
Moody's may cut Citi, notes concerns over preferred dividend At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Friday placed Citigroup Inc.'s long-term debt rating of A2 as well as its Prime-1 short-term rating under review for possible downgrade. Moody's also lowered its ratings on preferred stock issued by Citigroup to Baa3 from Baa2 due to greater possibility that preferred dividends could be deferred. "Citigroup's current preferred dividend payments are a hurdle for future capital generation, especially when considering Citigroup's poor earnings prospects for 2009," said Sean Jones, Moody's senior vice-president. The review will focus on...
Barclays sees full-year profit topping analyst forecasts At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Barclays PLC said Friday that full-year profit will likely exceed analyst forecasts, adding that directors of the bank know no reason why its share price slumped. The board of the U.K. bank expects full-year pre-tax profit, including all costs, impairments and market valuations, to come in above 5.3 billion pounds, which is the consensus forecast of sell-side analysts. Barclays also said its tier one capital ratio will be roughly 9.5% at the end of 2008. This ratio is a closely watched measure of banks' financial strength. Barclays shares slumped 25% during...
Toyota recalls 214,500 Lexus cars over possible fuel leak At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Toyota Motor Corp. said Friday it is recalling about 214,500 Lexus cars in the United States because of possible fuel leaks. The company said that ethanol fuels could corrode fuel delivery pipes and result in a leak. The recall affects certain 2006 through 2008 models of GS300/350, IS250/350, and LS460/460L vehicles.
Oil rises on short-covering; loses 10.6% in week At MarketWatch 01/16/09
NEW YORK (MarketWatch) -- Crude-oil futures erased earlier losses Friday, rallying more than 2% as traders short-selling February oil bought the contract to cover their positions before February futures expire on Tuesday. Meanwhile, traders moved their short positions to March futures, the next front-month contract, pushing down the March contract by more than 2% and shrinking the price difference between the two successive futures contracts.Crude for February delivery ended up $1.11, or 3.1%, at $36.51 a barrel on the New York Mercantile Exchange. It dropped 3.4% to as low as $34.18...
AMD to record $684 million charge related to ATI purchase At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) - Advanced Micro Devices Inc. on Friday said it will record a $622 million goodwill impairment charge related to its acquisition of ATI Technologies. The Sunnyvale, Calif.-based chip giant said it is also posting an additional $62 million charge related to its purchase of the graphics chip company in 2006.
Europe says Microsoft can't include its browser in Windows At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- European antitrust regulators have told Microsoft Corp. that the company's practice of including its Internet browser with its popular Windows operating system violates European competition law, Microsoft said Friday. Microsoft said in a statement that it's been told that related remedies put in place by U.S. courts when Microsoft settled an antitrust case in this country in 2002 are not adequate for Europe, though a "final determination" hasn't been made on the matter. Microsoft said it is "studying the statement of objections" from the European Commission and...
S&P affirms Citi counterparty rating, has dividend concerns At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- Standard & Poor's affirmed its counterparty credit rating on Citigroup Inc. Friday, but lowered its hybrid capital issues rating because of dividend concerns. The action comes after Citi posted a net fourth-quarter loss of $8.29 billion and announced plans to reorganize the company. The ratings agency has a A/A-1 counterparty credit rating on Citi with a stable outlook. S&P cut its ratings on Citi's hybrid capital issues to BB from BBB, on increased concerns that dividend payments could be deferred.
ConAgra names John Gehring as chief financial officer At MarketWatch 01/16/09
SAN FRANCISCO (MarketWatch) -- ConAgra Foods Inc. said Friday it named John Gehring, currently senior vice president and controller, as executive vice president and chief financial officer. Gehring succeeds Andre Hawaux who was promoted to president of consumer foods unit.More MarketWatch headlines...
Barron's Headlines
Barron's Headlines
How to (Maybe) Make Money Out of Thin Air At Barron's 01/17/09
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$ Rocky Road At Barron's 01/17/09
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$ Getting Down to Core Business at KeyCorp At Barron's 01/17/09
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$ A Better Grid: Will It Juice Stocks? At Barron's 01/17/09
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$ Profits Head for a Record Tumble At Barron's 01/17/09
...
$ Warning: Rough Road Ahead At Barron's 01/17/09
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$ Going Short, Winning Big At Barron's 01/17/09
...
$ Review At Barron's 01/17/09
...
$ Research Reports At Barron's 01/17/09
...
$ Preview At Barron's 01/17/09
...
$ Mailbag At Barron's 01/17/09
...
$ Follow-Up At Barron's 01/17/09
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$ Charting The Market At Barron's 01/17/09
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$ 13D Filings At Barron's 01/17/09
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$ Hold the Group Hug; No Sign Yet of Sustained Rally At Barron's 01/17/09
...More Barron's headlines...
How to (Maybe) Make Money Out of Thin Air At Barron's 01/17/09
...
$ Rocky Road At Barron's 01/17/09
...
$ Getting Down to Core Business at KeyCorp At Barron's 01/17/09
...
$ A Better Grid: Will It Juice Stocks? At Barron's 01/17/09
...
$ Profits Head for a Record Tumble At Barron's 01/17/09
...
$ Warning: Rough Road Ahead At Barron's 01/17/09
...
$ Going Short, Winning Big At Barron's 01/17/09
...
$ Review At Barron's 01/17/09
...
$ Research Reports At Barron's 01/17/09
...
$ Preview At Barron's 01/17/09
...
$ Mailbag At Barron's 01/17/09
...
$ Follow-Up At Barron's 01/17/09
...
$ Charting The Market At Barron's 01/17/09
...
$ 13D Filings At Barron's 01/17/09
...
$ Hold the Group Hug; No Sign Yet of Sustained Rally At Barron's 01/17/09
...More Barron's headlines...
Wall Street Journal Headlines
Wall Street Journal Headlines
Peer Review: Apple Stock Is a Bargain At Wall Street Journal 01/16/09
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HSBC's Need for New Capital At Wall Street Journal 01/16/09
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ConocoPhillips to Cut Jobs At Wall Street Journal 01/16/09
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Stocks Shrug Off Bank Trouble At Wall Street Journal 01/16/09
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Bank of America Swings to a Loss At Wall Street Journal 01/16/09
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Chrysler Financial Gets U.S. Loan At Wall Street Journal 01/16/09
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Wells Fargo, Exxon Mobil: Money Flow Leaders (WFC, XOM) At Wall Street Journal 01/16/09
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Terra Industries, First Place Financial: Biggest Price Gainers At Wall Street Journal 01/16/09
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Allied Irish Banks, Elizabeth Arden: Biggest Price Decliners At Wall Street Journal 01/16/09
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Fed Names Trustees for AIG Stake At Wall Street Journal 01/16/09
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Euro Advances on Dollar, Yen At Wall Street Journal 01/16/09
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Circuit City to Liquidate At Wall Street Journal 01/16/09
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Barclays Gives Outlook as Shares Sink At Wall Street Journal 01/16/09
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Ken Lewis, Citigroup, and Getting Rescued From a Wreck At Wall Street Journal 01/16/09
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Clear Channel to Cut Staff At Wall Street Journal 01/16/09
...More Wall Street Journal headlines...
Peer Review: Apple Stock Is a Bargain At Wall Street Journal 01/16/09
...
HSBC's Need for New Capital At Wall Street Journal 01/16/09
...
ConocoPhillips to Cut Jobs At Wall Street Journal 01/16/09
...
Stocks Shrug Off Bank Trouble At Wall Street Journal 01/16/09
...
Bank of America Swings to a Loss At Wall Street Journal 01/16/09
...
Chrysler Financial Gets U.S. Loan At Wall Street Journal 01/16/09
...
Wells Fargo, Exxon Mobil: Money Flow Leaders (WFC, XOM) At Wall Street Journal 01/16/09
...
Terra Industries, First Place Financial: Biggest Price Gainers At Wall Street Journal 01/16/09
...
Allied Irish Banks, Elizabeth Arden: Biggest Price Decliners At Wall Street Journal 01/16/09
...
Fed Names Trustees for AIG Stake At Wall Street Journal 01/16/09
...
Euro Advances on Dollar, Yen At Wall Street Journal 01/16/09
...
Circuit City to Liquidate At Wall Street Journal 01/16/09
...
Barclays Gives Outlook as Shares Sink At Wall Street Journal 01/16/09
...
Ken Lewis, Citigroup, and Getting Rescued From a Wreck At Wall Street Journal 01/16/09
...
Clear Channel to Cut Staff At Wall Street Journal 01/16/09
...More Wall Street Journal headlines...
Forbes Headlines
Forbes Headlines
The Steve Jobs Disclosure Dilemma At Forbes 01/17/09
What must a company reveal? In Apple's case, possibly more than most companies.
PaidContent.org: Jobs Asks Bloomberg To Be Left Alone; Tim Cook At Forbes 01/17/09
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PaidContent.org: Federated Media Shifts Away From Display Ads; At Forbes 01/17/09
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Follow the Methane! At Forbes 01/17/09
New NASA strategy for Mars?
Chrysler Financial Fueled By TARP At Forbes 01/17/09
The automaker's financing arm scores a $1.5B loan from the government.
Short Fuse At Circuit City At Forbes 01/17/09
The electronics retailer will liquidate its assets after failing to reel in a buyer.
PPG Not In High Demand At Forbes 01/17/09
The paints and coatings company expects little improvement in near-term sales.
Touched Up Outlooks Look Unattractive At Forbes 01/17/09
Cosmetics companies Estee Lauder and Elizabeth Arden said earlier Q2 guidance was marred by weak spending.
First Horizon Eases Lending At Forbes 01/17/09
The regional bank fattened its cash position and narrowed its loss as it dodged risky loans.
PaidContent.org: eBay Founder Omidyar Launching New Startup Ginx, At Forbes 01/16/09
...
PaidContent.org: Yahoo CEO Bartz Gets $1 Million Salary—But At Forbes 01/16/09
...
Cutting Health Care Costs At Forbes 01/16/09
From sinus infections to surgeries, tips on staying healthy without going broke.
MSNBC's Maddow Faces The Obama Challenge At Forbes 01/16/09
Rachel Maddow was hilarious busting on Bush. Can she stay funny now that her side has won?
Personal Finance Roundtable At Forbes 01/16/09
Fresh stock picks from leading investment strategists.
Business Visionaries At Forbes 01/16/09
Great thinkers who are setting our global agendas.More Forbes headlines...
The Steve Jobs Disclosure Dilemma At Forbes 01/17/09
What must a company reveal? In Apple's case, possibly more than most companies.
PaidContent.org: Jobs Asks Bloomberg To Be Left Alone; Tim Cook At Forbes 01/17/09
...
PaidContent.org: Federated Media Shifts Away From Display Ads; At Forbes 01/17/09
...
Follow the Methane! At Forbes 01/17/09
New NASA strategy for Mars?
Chrysler Financial Fueled By TARP At Forbes 01/17/09
The automaker's financing arm scores a $1.5B loan from the government.
Short Fuse At Circuit City At Forbes 01/17/09
The electronics retailer will liquidate its assets after failing to reel in a buyer.
PPG Not In High Demand At Forbes 01/17/09
The paints and coatings company expects little improvement in near-term sales.
Touched Up Outlooks Look Unattractive At Forbes 01/17/09
Cosmetics companies Estee Lauder and Elizabeth Arden said earlier Q2 guidance was marred by weak spending.
First Horizon Eases Lending At Forbes 01/17/09
The regional bank fattened its cash position and narrowed its loss as it dodged risky loans.
PaidContent.org: eBay Founder Omidyar Launching New Startup Ginx, At Forbes 01/16/09
...
PaidContent.org: Yahoo CEO Bartz Gets $1 Million Salary—But At Forbes 01/16/09
...
Cutting Health Care Costs At Forbes 01/16/09
From sinus infections to surgeries, tips on staying healthy without going broke.
MSNBC's Maddow Faces The Obama Challenge At Forbes 01/16/09
Rachel Maddow was hilarious busting on Bush. Can she stay funny now that her side has won?
Personal Finance Roundtable At Forbes 01/16/09
Fresh stock picks from leading investment strategists.
Business Visionaries At Forbes 01/16/09
Great thinkers who are setting our global agendas.More Forbes headlines...
BusinessWeek Headlines
BusinessWeek Headlines
Nortel's Road to Bankruptcy 01/16/09
As a long-distance runner, Mike Zafirovski is used to daunting challenges. An Ironman triathlete unafraid of long, hard slogs, the CEO of Nortel Networks (NT) knew when he took the job back in 2005 that turning around the struggling Canadian telecommunications equipment maker would be no easy task. But you can bet Zafirovski never expected the road, however bumpy, would lead to bankruptcy.
Europe's Investing Climate: A Deepening Chill 01/16/09
A deteriorating environment for investors in Europe is yet more evidence that the global economic crisis will not go gently into the New Year.
Merrill Lynch Turns Into a Black Hole for Bank of America 01/16/09
One deal too many. That could be the epitaph of many CEOs -- Jerry Levin of Time Warner (TWX) and Ken Thompson of Wachovia (WFC) come to mind -- who built their companies through ever-bigger mergers and then watched those crowning acquisitions become their downfall. Now the question is: Will Merrill Lynch come to represent Bank of America (BAC) CEO Ken Lewis' Waterloo as well?
What Yahoo Needs from Bartz Right Now 01/15/09
With a new chief executive chosen from well outside its decaying orbit, Yahoo (YHOO) now has one last chance to salvage itself from a slow spiral into irrelevance. On Jan. 13, the struggling Internet icon appointed Carol Bartz, the executive chairman and former CEO of computer design software firm Autodesk (ADSK), to succeed co-founder Jerry Yang at Yahoo's helm.
Stocks Sink on Gloomy Data, Fed Outlook 01/15/09
U.S. stocks closed sharply lower Wednesday, as investors digested a weak Beige Book report on economic conditions from the Federal Reserve, which followed news of a 2.7% plunge in U.S. December retail sales, marking a record sixth straight month of declines. Major indexes were each lower by 3% or more.
Get Cell Phones into Schools 01/15/09
Evidence abounds that many schools don't consider technology central to their core mission.
Investing: Good News for Newsletters? 01/14/09
If investing newsletters were stocks, what would the financial gurus who produce them think of their prospects? The number of subscribers of financial newsletters has been declining steadily for the past 10 years, which "is more a phenomenon of the Internet than of bull and bear markets," according to Mark Hulbert, publisher of Hulbert's Financial Digest, which rates the performance of paid investing newsletters. "Even at the top of the bull market in 2007, there were a lot fewer subscriptions, half of what there were in 1999."...
Movers: Citigroup, Morgan Stanley, Alcoa, GE, Yahoo, WellPoint 01/14/09
Citigroup (C) and Morgan Stanley (MS) announced they have reached a definitive agreement to combine Morgan Stanley's Global Wealth Management Group and Citi's Smith Barney, Quilter in the UK, and Smith Barney Australia into a new joint venture to be called Morgan Stanley Smith Barney. Under the terms of the agreement, Citi will exchange 100% of its Smith Barney, Smith Barney Australia and Quilter units for a 49% stake in the joint venture and an upfront cash payment of $2.7 billion. Morgan Stanley will exchange 100% of its Global Wealth Management business for a 51% stake in the joint venture.
An Agenda for Obama's CTO 01/13/09
President-elect Barack Obama has promised to appoint the world's first governmental Chief Technology Officer [CTO]. On its transition Web site, www.change.gov, the incoming Administration has published a list of goals for the soon-to-be anointed CTO: broadband expansion, boosting science/tech education, health-care computerization, patent reform, and e-government.
Facebook, Meet the Locals 01/13/09
Victor Donselaar, a Dutchman living in Helsinki, Finland, finds the social network Facebook useful for staying in touch with new friends and business contacts from across Europe. But when he wants to connect with old buddies from the Netherlands, his social network of choice is strictly homegrown. "In Holland, none of my friends are on Facebook," Donselaar says. Instead, he notes, they're on a popular Dutch site called Hyves.
Stocks Fall as Jobs News Points Up Weak Economy 01/12/09
U.S. stocks finished broadly lower Friday on light trading volume following a report December nonfarm payrolls fell 524,000 after plunging a revised 584,000 in October, and the unemployment rate jumped to 7.2% from 6.8%.
TD Ameritrade Dives into Thinkorswim 01/12/09
You would think that the widespread market carnage over the past year or more would be enough to scare most retail investors away from risky investments like options, but that's not the signal being sent by TD Ameritrade's (AMTD) proposed cash-and-stock deal, valued at $606 million, to acquire online options broker Thinkorswim Group (SWIM), announced on Jan. 8. Ameritrade is the No. 2 online broker in terms of market capitalization, behind Charles Schwab (SCHW).
Stocks End Mixed Ahead of Jobs Report 01/11/09
U.S. stocks closed mixed Thursday, with the Dow industrials lagging broader-market indexes ahead of Friday's December U.S. nonfarm payrolls data. Trading was light but volatile ahead of the data, with the consensus forecast calling for a 490,000 decline in December after a 533,000 drop in November and a rise in the jobless rate to 6.9%.
Obama Begins Selling Americans the Stimulus Plan 01/11/09
President-elect Barack Obama rocketed to national prominence and won the battle for the nation's highest office in large part thanks to his extraordinary communication skills. Now, just 12 days before he takes office, he's turning to those skills to convince Americans that his ambitious $775 billion stimulus plan will go a long way to helping pull the U.S. economy out of its deep funk.
Marcial: Hot Stock Bets for 2009 01/08/09
What now, Dow Jones? Without a doubt, the big question confronting investors is whether the stock market has bottomed, with the Dow Jones industrial average recently up some 7% in just
Nortel's Road to Bankruptcy 01/16/09
As a long-distance runner, Mike Zafirovski is used to daunting challenges. An Ironman triathlete unafraid of long, hard slogs, the CEO of Nortel Networks (NT) knew when he took the job back in 2005 that turning around the struggling Canadian telecommunications equipment maker would be no easy task. But you can bet Zafirovski never expected the road, however bumpy, would lead to bankruptcy.
Europe's Investing Climate: A Deepening Chill 01/16/09
A deteriorating environment for investors in Europe is yet more evidence that the global economic crisis will not go gently into the New Year.
Merrill Lynch Turns Into a Black Hole for Bank of America 01/16/09
One deal too many. That could be the epitaph of many CEOs -- Jerry Levin of Time Warner (TWX) and Ken Thompson of Wachovia (WFC) come to mind -- who built their companies through ever-bigger mergers and then watched those crowning acquisitions become their downfall. Now the question is: Will Merrill Lynch come to represent Bank of America (BAC) CEO Ken Lewis' Waterloo as well?
What Yahoo Needs from Bartz Right Now 01/15/09
With a new chief executive chosen from well outside its decaying orbit, Yahoo (YHOO) now has one last chance to salvage itself from a slow spiral into irrelevance. On Jan. 13, the struggling Internet icon appointed Carol Bartz, the executive chairman and former CEO of computer design software firm Autodesk (ADSK), to succeed co-founder Jerry Yang at Yahoo's helm.
Stocks Sink on Gloomy Data, Fed Outlook 01/15/09
U.S. stocks closed sharply lower Wednesday, as investors digested a weak Beige Book report on economic conditions from the Federal Reserve, which followed news of a 2.7% plunge in U.S. December retail sales, marking a record sixth straight month of declines. Major indexes were each lower by 3% or more.
Get Cell Phones into Schools 01/15/09
Evidence abounds that many schools don't consider technology central to their core mission.
Investing: Good News for Newsletters? 01/14/09
If investing newsletters were stocks, what would the financial gurus who produce them think of their prospects? The number of subscribers of financial newsletters has been declining steadily for the past 10 years, which "is more a phenomenon of the Internet than of bull and bear markets," according to Mark Hulbert, publisher of Hulbert's Financial Digest, which rates the performance of paid investing newsletters. "Even at the top of the bull market in 2007, there were a lot fewer subscriptions, half of what there were in 1999."...
Movers: Citigroup, Morgan Stanley, Alcoa, GE, Yahoo, WellPoint 01/14/09
Citigroup (C) and Morgan Stanley (MS) announced they have reached a definitive agreement to combine Morgan Stanley's Global Wealth Management Group and Citi's Smith Barney, Quilter in the UK, and Smith Barney Australia into a new joint venture to be called Morgan Stanley Smith Barney. Under the terms of the agreement, Citi will exchange 100% of its Smith Barney, Smith Barney Australia and Quilter units for a 49% stake in the joint venture and an upfront cash payment of $2.7 billion. Morgan Stanley will exchange 100% of its Global Wealth Management business for a 51% stake in the joint venture.
An Agenda for Obama's CTO 01/13/09
President-elect Barack Obama has promised to appoint the world's first governmental Chief Technology Officer [CTO]. On its transition Web site, www.change.gov, the incoming Administration has published a list of goals for the soon-to-be anointed CTO: broadband expansion, boosting science/tech education, health-care computerization, patent reform, and e-government.
Facebook, Meet the Locals 01/13/09
Victor Donselaar, a Dutchman living in Helsinki, Finland, finds the social network Facebook useful for staying in touch with new friends and business contacts from across Europe. But when he wants to connect with old buddies from the Netherlands, his social network of choice is strictly homegrown. "In Holland, none of my friends are on Facebook," Donselaar says. Instead, he notes, they're on a popular Dutch site called Hyves.
Stocks Fall as Jobs News Points Up Weak Economy 01/12/09
U.S. stocks finished broadly lower Friday on light trading volume following a report December nonfarm payrolls fell 524,000 after plunging a revised 584,000 in October, and the unemployment rate jumped to 7.2% from 6.8%.
TD Ameritrade Dives into Thinkorswim 01/12/09
You would think that the widespread market carnage over the past year or more would be enough to scare most retail investors away from risky investments like options, but that's not the signal being sent by TD Ameritrade's (AMTD) proposed cash-and-stock deal, valued at $606 million, to acquire online options broker Thinkorswim Group (SWIM), announced on Jan. 8. Ameritrade is the No. 2 online broker in terms of market capitalization, behind Charles Schwab (SCHW).
Stocks End Mixed Ahead of Jobs Report 01/11/09
U.S. stocks closed mixed Thursday, with the Dow industrials lagging broader-market indexes ahead of Friday's December U.S. nonfarm payrolls data. Trading was light but volatile ahead of the data, with the consensus forecast calling for a 490,000 decline in December after a 533,000 drop in November and a rise in the jobless rate to 6.9%.
Obama Begins Selling Americans the Stimulus Plan 01/11/09
President-elect Barack Obama rocketed to national prominence and won the battle for the nation's highest office in large part thanks to his extraordinary communication skills. Now, just 12 days before he takes office, he's turning to those skills to convince Americans that his ambitious $775 billion stimulus plan will go a long way to helping pull the U.S. economy out of its deep funk.
Marcial: Hot Stock Bets for 2009 01/08/09
What now, Dow Jones? Without a doubt, the big question confronting investors is whether the stock market has bottomed, with the Dow Jones industrial average recently up some 7% in just
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Reuters: 香港市场报道
Reuters: 香港市场报道
〔香港股市〕恒指收盘近持平,本周录得两个半月来最大单周跌幅(更新版) - 2009年1月16日
〔香港股市〕恒指收盘近持平,但汇控则连续第三日大挫 - 2009年1月16日
〔香港股市〕恒指小幅高开0.27%,但涨幅受汇丰控股拖累 - 2009年1月15日
〔香港热股〕汇丰控股开盘跌3.33%,稍早遭高盛大削目标价 - 2009年1月15日
〔香港股市〕恒指收挫3.4%至七周低位,但中资股上涨限制跌幅(更新版) - 2009年1月15日
Reuters: U.S.
Cranes used to raise crashed jet from Hudson River
Almost all U.S. cities to lose jobs in 2009: forecast
Missing money manager believed alive: associate
U.S. mayors skeptical of city help in stimulus plan
Older Americans postpone retirement as economy sags
Reuters: 美国市场
〔美国股市〕收高,能源股反弹且金融股缩减跌幅 - 2009年1月16日
〔美国股市〕ADR收高,因油股反弹和巴克莱言论 - 2009年1月16日
〔美国股市〕道琼工业指数收高0.84%,Nasdaq综合股价指数上扬1.16% - 2009年1月16日
〔美国股市〕开高,因美国银行获政府注资 - 2009年1月16日
〔美股盘前〕主要银行股价上涨,此前美国政府向美国银行注资 - 2009年1月16日
Reuters: Business News
Europe had "catastrophic" 4th quarter: EU Verheugen
India Satyam says talking to Citi, BNP for funds: paper
Mexico's Slim may invest in New York Times: source
Nippon sees recovery in 2 years, Toyota deal delay
Obama team seeks fresh approach to bank crisis
Reuters: 全球外汇动态
〔纽约汇市〕美元和日圆下挫,因美政府注资美银提振信心 - 2009年1月16日
〔欧洲汇市〕英镑上扬,美国政府金援美银压制厌恶风险情绪 - 2009年1月16日
〔纽约汇市〕美元和日圆下挫,因风险意愿回升 - 2009年1月16日
〔香港汇市〕港元兑美元窄幅波动,银行间拆息微幅走高 - 2009年1月16日
《全球外汇动态》--英国央行副总裁吉弗称将考虑更多措施--1月16日(II) - 2009年1月16日
Reuters: 债券
〔美国债市〕公债价格下滑,因担心大量新债供应 - 2009年1月16日
〔英国债市〕英国公债大幅下滑,受对银行账面的忧虑打压 - 2009年1月16日
〔欧元债市〕公债受压,因股市走强削弱公债需求 - 2009年1月16日
〔汽车产业〕欧洲汽车产业前景"极其严峻",汽车厂商生存堪忧--工业执委 - 2009年1月16日
〔伦敦美债〕公债收益率跳升,因美政府银行业援助计划使避险意识稍降温 - 2009年1月16日
Reuters: 股票
〔美国股市〕收高,能源股反弹且金融股缩减跌幅 - 2009年1月16日
〔美国股市〕ADR收高,因油股反弹和巴克莱言论 - 2009年1月16日
〔美国股市〕道琼工业指数收高0.84%,Nasdaq综合股价指数上扬1.16% - 2009年1月16日
〔欧洲股市〕收高,但巴克莱和苏格兰皇家银行暴跌 - 2009年1月16日
〔英国股市〕结束七日连跌收高,但巴克莱股价暴跌 - 2009年1月16日
Reuters: 商品期货
〔纽约金属〕COMEX期铜劲升逾5%,受助于美元下滑 - 2009年1月16日
〔芝加哥期市〕CBOT大豆期货上扬,因阿根廷天气乾燥和出口带动 - 2009年1月16日
〔芝加哥期市〕CBOT小麦期货收高,受惠于大豆和玉米期货涨势 - 2009年1月16日
〔国际油市〕NYMEX原油期货收高,因空头回补 - 2009年1月16日
〔纽约期市〕ICE棉花期货收高,因基金和贸易买盘 - 2009年1月16日
Reuters: 期货期权
〔英国债市〕英国公债大幅下滑,受对银行账面的忧虑打压 - 2009年1月16日
〔欧元债市〕公债受压,因股市走强削弱公债需求 - 2009年1月16日
〔伦敦美债〕公债收益率跳升,因美政府银行业援助计划使避险意识稍降温 - 2009年1月16日
(重发)〔韩国债市〕公债受累于供给忧虑扩大跌幅,短期公司债则上扬 - 2009年1月16日
〔韩国债市〕公债受累于供给忧虑扩大跌幅,短期公司债则上扬 - 2009年1月16日
Reuters: Mergers News
UPDATE 2-Mexico's Slim may invest in New York Times-source - 2009年1月18日
UPDATE 1-Obama team weighs government bank to ease crisis - 2009年1月17日
Obama team weighs government bank to ease crisis - 2009年1月17日
UPDATE 1-Qatar Tel to begin Indosat shares tender Jan 20 - 2009年1月17日
UPDATE 2-Kuwait wealth fund not to cut foreign investments - 2009年1月17日
Reuters: 兼并收购
〔欧洲个股〕瑞银向巴克莱出售非战略性商品业务,二季度底前完成转移 - 2009年1月16日
〔爱尔兰金融〕政府将Anglo Irish Bank国有化,以防该行倒下冲击经济 - 2009年1月15日
更正:〔航空产业〕今年亚太区航空业亏损料超11亿美元,出口大幅衰减拖累中国 - 2009年1月15日
(重温稿)〔香港个股〕嘉里建设及香格里拉(亚洲)放弃河北省唐山市项目 - 2009年1月15日
〔香港个股〕嘉里建设及香格里拉(亚洲)放弃河北省唐山市项目 - 2009年1月15日
Reuters: 财经报道
〔美国股市〕ADR收高,因油股反弹和巴克莱言论 - 2009年1月16日
〔香港个股〕复星国际称郭广昌辞任行政总裁,原副董事长接任 - 2009年1月16日
〔香港经济〕香港去年12月破产申请创五年新高,至1,334宗 - 2009年1月16日
〔香港汇市〕港元兑美元窄幅波动,银行间拆息微幅走高 - 2009年1月16日
〔香港个股〕华润创业称陈树林辞任董事总经理,原副总经理接任 - 2009年1月16日
Reuters: 市场报道
〔台湾货币市场〕拆款利率低档持稳,银行为库存现金调度出现实质需求(更新版) - 2009年1月17日
〔台湾央行〕拟受理银行业申请外汇存款转存,增加其外汇资金运用(更新版) - 2009年1月17日
〔台湾债市〕10年期指标公债持券集中度变化表 - 2009年1月17日
〔台湾债市〕97/6期借券成交4亿台币,加权平均利率为-0.0237% - 2009年1月17日
〔台湾债市〕97/6期10年期公债中,证券业卖超5.5亿台币 - 2009年1月17日
金融資訊
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Reuters: 地产资讯
〔香港个股〕复星国际称郭广昌辞任行政总裁,原副董事长接任 - 2009年1月16日
〔欧洲个股〕法国兴业银行旗下私营银行将建立全球性房地产投资部门 - 2009年1月16日
〔中港个股〕工行月底调整存量房贷利率,房贷收入损失料数十亿--消息 - 2009年1月15日
〔中国经济〕国土资源部称将利用市场低迷强化土地和矿产资源管理 - 2009年1月15日
(重温稿)〔香港个股〕嘉里建设及香格里拉(亚洲)放弃河北省唐山市项目 - 2009年1月15日
Reuters: 宏观经济
〔欧元债市〕公债受压,因股市走强削弱公债需求 - 2009年1月16日
美国各类经济指标总览--2009/1/16 - 2009年1月16日
〔欧元区经济〕在2009年第四季开始复苏--欧元集团主席贾克 - 2009年1月16日
〔美国经济〕1月9日当周领先指标下跌,美国经济未走出衰退--ECRI - 2009年1月16日
〔美国金融〕大部分TARP资金应用于银行注资计划--保尔森 - 2009年1月16日
Reuters: 东京市场报道
〔日本股市〕收高2.6%,因美国银行获救消息和日圆贬值提振市场(更新版) - 2009年1月16日
〔日本股市〕收高2.6%,因美国银行获救消息和日圆贬值提振市场 - 2009年1月16日
〔日本股市〕早盘收升1.3%,因美股上扬且日圆下挫 - 2009年1月15日
〔日本股市〕开盘上涨1.3%,科技股走扬 - 2009年1月15日
〔日本股市〕日股收创一个月低位,受经济低迷和疲弱数据冲击(更新版) - 2009年1月15日
Reuters: 欧洲市场报道
〔欧洲股市〕收高,但巴克莱和苏格兰皇家银行暴跌 - 2009年1月16日
〔欧洲股市〕连跌七日,银行股和能源股续挫 - 2009年1月15日
〔欧洲股市〕重挫4.3%,汇丰控股带领银行股下跌 - 2009年1月14日
〔欧洲股市〕收低1.5%,金融股重挫 - 2009年1月13日
〔欧洲股市〕受油股和汽车股拖累收低1.6% - 2009年1月12日
Reuters: 对冲基金
〔基金产业〕对冲基金12月资金流出1,484亿美元,创纪录高位--TrimTabs - 2009年1月14日
〔欧洲企业〕瑞士UBP在收到内部预警後仍投资于马多夫的公司--WSJ - 2009年1月14日
〔基金产业〕对冲基金2008年平均亏损19%--瑞信/Tremont - 2009年1月12日
〔基金产业〕对冲基金08年蒙受有史以来最大亏损,但表现优于整体市场 - 2009年1月8日
〔基金产业〕美林分析师伯恩斯坦预期对冲基金及新兴市场将进一步承压 - 2009年1月8日
Reuters: 私募投资
〔汽车产业〕克莱斯勒称不会出售品牌或车厂,将寻求出售"PT漫步者"设备 - 2009年1月14日
〔美国个股〕雷曼兄弟已达成协议出售两支私人直接投资基金--消息 - 2009年1月8日
〔韩国金融〕银行团终止将大宇电子售予Ripplewood的谈判 - 2009年1月7日
〔中国基金〕金沙江创业募集3.8亿美元基金,首投网游公司爱柠檬(更新版2) - 2009年1月6日
〔全球金融〕亿万富翁也难逃危机威胁,资产迅速缩水 - 2008年12月31日
Reuters: Private Equity
Battered Wall St tops Obama inaugural donors-study
UPDATE 1-HP plans to offer shareholders a say on pay
UPDATE 1-Microsoft CEO and Yahoo Chairman have met - reports
Microsoft CEO and Yahoo Chairman have met - NYT
Ottawa urged to put auto-lease measures in budget
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〔香港股市〕恒指收盘近持平,本周录得两个半月来最大单周跌幅(更新版) - 2009年1月16日
〔香港股市〕恒指收盘近持平,但汇控则连续第三日大挫 - 2009年1月16日
〔香港股市〕恒指小幅高开0.27%,但涨幅受汇丰控股拖累 - 2009年1月15日
〔香港热股〕汇丰控股开盘跌3.33%,稍早遭高盛大削目标价 - 2009年1月15日
〔香港股市〕恒指收挫3.4%至七周低位,但中资股上涨限制跌幅(更新版) - 2009年1月15日
Reuters: U.S.
Cranes used to raise crashed jet from Hudson River
Almost all U.S. cities to lose jobs in 2009: forecast
Missing money manager believed alive: associate
U.S. mayors skeptical of city help in stimulus plan
Older Americans postpone retirement as economy sags
Reuters: 美国市场
〔美国股市〕收高,能源股反弹且金融股缩减跌幅 - 2009年1月16日
〔美国股市〕ADR收高,因油股反弹和巴克莱言论 - 2009年1月16日
〔美国股市〕道琼工业指数收高0.84%,Nasdaq综合股价指数上扬1.16% - 2009年1月16日
〔美国股市〕开高,因美国银行获政府注资 - 2009年1月16日
〔美股盘前〕主要银行股价上涨,此前美国政府向美国银行注资 - 2009年1月16日
Reuters: Business News
Europe had "catastrophic" 4th quarter: EU Verheugen
India Satyam says talking to Citi, BNP for funds: paper
Mexico's Slim may invest in New York Times: source
Nippon sees recovery in 2 years, Toyota deal delay
Obama team seeks fresh approach to bank crisis
Reuters: 全球外汇动态
〔纽约汇市〕美元和日圆下挫,因美政府注资美银提振信心 - 2009年1月16日
〔欧洲汇市〕英镑上扬,美国政府金援美银压制厌恶风险情绪 - 2009年1月16日
〔纽约汇市〕美元和日圆下挫,因风险意愿回升 - 2009年1月16日
〔香港汇市〕港元兑美元窄幅波动,银行间拆息微幅走高 - 2009年1月16日
《全球外汇动态》--英国央行副总裁吉弗称将考虑更多措施--1月16日(II) - 2009年1月16日
Reuters: 债券
〔美国债市〕公债价格下滑,因担心大量新债供应 - 2009年1月16日
〔英国债市〕英国公债大幅下滑,受对银行账面的忧虑打压 - 2009年1月16日
〔欧元债市〕公债受压,因股市走强削弱公债需求 - 2009年1月16日
〔汽车产业〕欧洲汽车产业前景"极其严峻",汽车厂商生存堪忧--工业执委 - 2009年1月16日
〔伦敦美债〕公债收益率跳升,因美政府银行业援助计划使避险意识稍降温 - 2009年1月16日
Reuters: 股票
〔美国股市〕收高,能源股反弹且金融股缩减跌幅 - 2009年1月16日
〔美国股市〕ADR收高,因油股反弹和巴克莱言论 - 2009年1月16日
〔美国股市〕道琼工业指数收高0.84%,Nasdaq综合股价指数上扬1.16% - 2009年1月16日
〔欧洲股市〕收高,但巴克莱和苏格兰皇家银行暴跌 - 2009年1月16日
〔英国股市〕结束七日连跌收高,但巴克莱股价暴跌 - 2009年1月16日
Reuters: 商品期货
〔纽约金属〕COMEX期铜劲升逾5%,受助于美元下滑 - 2009年1月16日
〔芝加哥期市〕CBOT大豆期货上扬,因阿根廷天气乾燥和出口带动 - 2009年1月16日
〔芝加哥期市〕CBOT小麦期货收高,受惠于大豆和玉米期货涨势 - 2009年1月16日
〔国际油市〕NYMEX原油期货收高,因空头回补 - 2009年1月16日
〔纽约期市〕ICE棉花期货收高,因基金和贸易买盘 - 2009年1月16日
Reuters: 期货期权
〔英国债市〕英国公债大幅下滑,受对银行账面的忧虑打压 - 2009年1月16日
〔欧元债市〕公债受压,因股市走强削弱公债需求 - 2009年1月16日
〔伦敦美债〕公债收益率跳升,因美政府银行业援助计划使避险意识稍降温 - 2009年1月16日
(重发)〔韩国债市〕公债受累于供给忧虑扩大跌幅,短期公司债则上扬 - 2009年1月16日
〔韩国债市〕公债受累于供给忧虑扩大跌幅,短期公司债则上扬 - 2009年1月16日
Reuters: Mergers News
UPDATE 2-Mexico's Slim may invest in New York Times-source - 2009年1月18日
UPDATE 1-Obama team weighs government bank to ease crisis - 2009年1月17日
Obama team weighs government bank to ease crisis - 2009年1月17日
UPDATE 1-Qatar Tel to begin Indosat shares tender Jan 20 - 2009年1月17日
UPDATE 2-Kuwait wealth fund not to cut foreign investments - 2009年1月17日
Reuters: 兼并收购
〔欧洲个股〕瑞银向巴克莱出售非战略性商品业务,二季度底前完成转移 - 2009年1月16日
〔爱尔兰金融〕政府将Anglo Irish Bank国有化,以防该行倒下冲击经济 - 2009年1月15日
更正:〔航空产业〕今年亚太区航空业亏损料超11亿美元,出口大幅衰减拖累中国 - 2009年1月15日
(重温稿)〔香港个股〕嘉里建设及香格里拉(亚洲)放弃河北省唐山市项目 - 2009年1月15日
〔香港个股〕嘉里建设及香格里拉(亚洲)放弃河北省唐山市项目 - 2009年1月15日
Reuters: 财经报道
〔美国股市〕ADR收高,因油股反弹和巴克莱言论 - 2009年1月16日
〔香港个股〕复星国际称郭广昌辞任行政总裁,原副董事长接任 - 2009年1月16日
〔香港经济〕香港去年12月破产申请创五年新高,至1,334宗 - 2009年1月16日
〔香港汇市〕港元兑美元窄幅波动,银行间拆息微幅走高 - 2009年1月16日
〔香港个股〕华润创业称陈树林辞任董事总经理,原副总经理接任 - 2009年1月16日
Reuters: 市场报道
〔台湾货币市场〕拆款利率低档持稳,银行为库存现金调度出现实质需求(更新版) - 2009年1月17日
〔台湾央行〕拟受理银行业申请外汇存款转存,增加其外汇资金运用(更新版) - 2009年1月17日
〔台湾债市〕10年期指标公债持券集中度变化表 - 2009年1月17日
〔台湾债市〕97/6期借券成交4亿台币,加权平均利率为-0.0237% - 2009年1月17日
〔台湾债市〕97/6期10年期公债中,证券业卖超5.5亿台币 - 2009年1月17日
金融資訊
powered by
Reuters: 地产资讯
〔香港个股〕复星国际称郭广昌辞任行政总裁,原副董事长接任 - 2009年1月16日
〔欧洲个股〕法国兴业银行旗下私营银行将建立全球性房地产投资部门 - 2009年1月16日
〔中港个股〕工行月底调整存量房贷利率,房贷收入损失料数十亿--消息 - 2009年1月15日
〔中国经济〕国土资源部称将利用市场低迷强化土地和矿产资源管理 - 2009年1月15日
(重温稿)〔香港个股〕嘉里建设及香格里拉(亚洲)放弃河北省唐山市项目 - 2009年1月15日
Reuters: 宏观经济
〔欧元债市〕公债受压,因股市走强削弱公债需求 - 2009年1月16日
美国各类经济指标总览--2009/1/16 - 2009年1月16日
〔欧元区经济〕在2009年第四季开始复苏--欧元集团主席贾克 - 2009年1月16日
〔美国经济〕1月9日当周领先指标下跌,美国经济未走出衰退--ECRI - 2009年1月16日
〔美国金融〕大部分TARP资金应用于银行注资计划--保尔森 - 2009年1月16日
Reuters: 东京市场报道
〔日本股市〕收高2.6%,因美国银行获救消息和日圆贬值提振市场(更新版) - 2009年1月16日
〔日本股市〕收高2.6%,因美国银行获救消息和日圆贬值提振市场 - 2009年1月16日
〔日本股市〕早盘收升1.3%,因美股上扬且日圆下挫 - 2009年1月15日
〔日本股市〕开盘上涨1.3%,科技股走扬 - 2009年1月15日
〔日本股市〕日股收创一个月低位,受经济低迷和疲弱数据冲击(更新版) - 2009年1月15日
Reuters: 欧洲市场报道
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Nortel's Road to Bankruptcy
Nortel's Road to BankruptcyJanuary 16, 2009 11:00 AM ET
As a long-distance runner, Mike Zafirovski is used to daunting challenges. An Ironman triathlete unafraid of long, hard slogs, the CEO of Nortel Networks (NT) knew when he took the job back in 2005 that turning around the struggling Canadian telecommunications equipment maker would be no easy task. But you can bet Zafirovski never expected the road, however bumpy, would lead to bankruptcy.
Yet that's exactly where Mike Z., as he's known, has found himself. Nortel, the largest North American maker of telecom gear, said on Jan. 14 it had filed for bankruptcy protection in Canada, the U.S., and Europe.
The Toronto-based company said it still has enough cash to continue operating while the bankruptcy plays out. However, diminishing demand for phone equipment and stiff competition battered Nortel, while the global financial crisis that accelerated in the fourth quarter made it harder for companies like Nortel to restructure loans. "The world changed dramatically in September," Zafirovski says in an interview with BusinessWeek. "So we needed to preserve the balance sheet and to ensure that we were on sound financial footing for the long term."
Zafirovski spent the day holding meetings and conference calls with staffers and customers trying to explain the decision and salvage some hope for the future. With the cash on hand, Zafirovski expects Nortel to continue meeting demand, supplying equipment for orders and making further sales. Behind the scenes, he's working to hash out a plan that would have the company emerge from bankruptcy operating smoothly. "We're not making any announcements now about our strategy, but we are providing confirmation to our customers," he says.
Burning Through Cash
Whatever its condition upon emergence from bankruptcy, Nortel is in rough shape going in. Once the darling of Canadian business, with $30 billion in revenue, Nortel had recently become a $10 billion shell of its former self. The company is saddled with mounting debt and dwindling cash flow. The company would have hit a cash crunch by the end of 2010, said UBS (UBS) analyst Nikos Theodosopoulos. Nortel had $2.6 billion in cash at the end of the third quarter, and by some analyst estimates has been burning through about $300 million to $400 million in cash a quarter. "It was better to file [for bankruptcy] now with cash on hand than wait until they were under more pressure," Theodosopoulos says.
Zafirovski was hired because he was perceived to be the sort of change agent needed to return Nortel to its former glory. An alum of General Electric (GE) and one of the few executives credited with wringing profits out of Motorola's (MOT) ill-performing phone unit in recent years, Zafirovski was thought at least to have the skills for turning around a company that had long suffered from declining sales and managerial upheaval.
Not only had the tech bubble burst, but Nortel was coming out of an accounting scandal that required a great deal of attention from Zafirovski and his team for much of his first year. He was battling to regain shareholders' confidence. "The stock became almost tainted merchandise," says Michael R. Sprung, president of Sprung & Co. Investment Counsel. "The investment community certainly had doubts about his ability and the board's to turn the company around."
True to form, Zafirovski didn't waste time setting new goals. At the heart of his plan was dramatic improvement in Nortel's operating margins, a yardstick of profitability. Nortel's margins were wallowing around 6% at the time, and Zafirovski pledged to boost them as high as 19% before long.
Did Nortel Exit the Wrong Business?
Zafirovski now says revenue growth and cash flow filled out a three-pronged approach to improvement. The plan was to redirect the company toward the future. When he took over, some 55% of spending was devoted to "legacy products," such as conventional phone gear that was being systematically replaced with new Internet-based equipment. "So we looked at how do we redirect R&D spending," he says. In hockey terms, he "wanted to go to where the puck [was being hit] rather than where the person is."
Makes sense, but the big question is whether Zafirovski should have pushed Nortel to exit certain businesses sooner and been more aggressive in seeking mergers or joint-venture partnerships that would have given Nortel much needed scale. Nortel has long had its hands in several businesses -- from optical networks to wireless infrastructure to government and enterprise systems. But in recent years it has not dominated in any of its markets; Nortel was not No. 1 or No. 2 in its four major businesses. Just as bad, analysts say, it had one of the weakest balance sheets among the telecom equipment companies. "Nortel tried to hold on to all of its pieces," says Ronald Gruia, a telecom analyst for consulting firm Frost & Sullivan. Zafirovski should have focused on one or two and jettisoned the others. "If you do a good job of managing, maintaining all those pieces, you have a very diversified portfolio," Gruia says. But if you fail, "When it comes the time to make cuts, you have to start starving these individual businesses."
When Nortel did decide to exit a business, it chose the wrong one, Gruia says. Nortel opted to jettison one of the dominant next-generation technologies, a 3G technology called UMTS. Yet, some of the world's largest wireless service providers have decided to hitch their fortunes to this technology, rather than those Nortel kept in its quiver. "Getting out of UMTS was a mistake," Gruia says.
Zafirovski vehemently disagrees, noting that Nortel only had a 5% to 6% share in the UMTS business but a 22% stake in the next-generation technology used by Verizon Wireless that it chose to keep. "The move out of UMTS where we were not making money was the best move at the time," he says.
Ironically, bankruptcy might prove to be the best decision Zafirovski has made during his tenure. If it allows Nortel to restructure its debt adequately -- Theodosopoulos says it could potentially renegotiate its $4.5 billion in debt to as low as $900 million -- there's a chance for a decent second life. Zafirovski will have to either sell or shut down several Nortel businesses as part of the bankruptcy restructuring, enabling the company to "come out a strong and focused technology player." If not, as Sprung says, it will be "a sad end to what was a great Canadian success story."
Copyright 2009 BusinessWeek
As a long-distance runner, Mike Zafirovski is used to daunting challenges. An Ironman triathlete unafraid of long, hard slogs, the CEO of Nortel Networks (NT) knew when he took the job back in 2005 that turning around the struggling Canadian telecommunications equipment maker would be no easy task. But you can bet Zafirovski never expected the road, however bumpy, would lead to bankruptcy.
Yet that's exactly where Mike Z., as he's known, has found himself. Nortel, the largest North American maker of telecom gear, said on Jan. 14 it had filed for bankruptcy protection in Canada, the U.S., and Europe.
The Toronto-based company said it still has enough cash to continue operating while the bankruptcy plays out. However, diminishing demand for phone equipment and stiff competition battered Nortel, while the global financial crisis that accelerated in the fourth quarter made it harder for companies like Nortel to restructure loans. "The world changed dramatically in September," Zafirovski says in an interview with BusinessWeek. "So we needed to preserve the balance sheet and to ensure that we were on sound financial footing for the long term."
Zafirovski spent the day holding meetings and conference calls with staffers and customers trying to explain the decision and salvage some hope for the future. With the cash on hand, Zafirovski expects Nortel to continue meeting demand, supplying equipment for orders and making further sales. Behind the scenes, he's working to hash out a plan that would have the company emerge from bankruptcy operating smoothly. "We're not making any announcements now about our strategy, but we are providing confirmation to our customers," he says.
Burning Through Cash
Whatever its condition upon emergence from bankruptcy, Nortel is in rough shape going in. Once the darling of Canadian business, with $30 billion in revenue, Nortel had recently become a $10 billion shell of its former self. The company is saddled with mounting debt and dwindling cash flow. The company would have hit a cash crunch by the end of 2010, said UBS (UBS) analyst Nikos Theodosopoulos. Nortel had $2.6 billion in cash at the end of the third quarter, and by some analyst estimates has been burning through about $300 million to $400 million in cash a quarter. "It was better to file [for bankruptcy] now with cash on hand than wait until they were under more pressure," Theodosopoulos says.
Zafirovski was hired because he was perceived to be the sort of change agent needed to return Nortel to its former glory. An alum of General Electric (GE) and one of the few executives credited with wringing profits out of Motorola's (MOT) ill-performing phone unit in recent years, Zafirovski was thought at least to have the skills for turning around a company that had long suffered from declining sales and managerial upheaval.
Not only had the tech bubble burst, but Nortel was coming out of an accounting scandal that required a great deal of attention from Zafirovski and his team for much of his first year. He was battling to regain shareholders' confidence. "The stock became almost tainted merchandise," says Michael R. Sprung, president of Sprung & Co. Investment Counsel. "The investment community certainly had doubts about his ability and the board's to turn the company around."
True to form, Zafirovski didn't waste time setting new goals. At the heart of his plan was dramatic improvement in Nortel's operating margins, a yardstick of profitability. Nortel's margins were wallowing around 6% at the time, and Zafirovski pledged to boost them as high as 19% before long.
Did Nortel Exit the Wrong Business?
Zafirovski now says revenue growth and cash flow filled out a three-pronged approach to improvement. The plan was to redirect the company toward the future. When he took over, some 55% of spending was devoted to "legacy products," such as conventional phone gear that was being systematically replaced with new Internet-based equipment. "So we looked at how do we redirect R&D spending," he says. In hockey terms, he "wanted to go to where the puck [was being hit] rather than where the person is."
Makes sense, but the big question is whether Zafirovski should have pushed Nortel to exit certain businesses sooner and been more aggressive in seeking mergers or joint-venture partnerships that would have given Nortel much needed scale. Nortel has long had its hands in several businesses -- from optical networks to wireless infrastructure to government and enterprise systems. But in recent years it has not dominated in any of its markets; Nortel was not No. 1 or No. 2 in its four major businesses. Just as bad, analysts say, it had one of the weakest balance sheets among the telecom equipment companies. "Nortel tried to hold on to all of its pieces," says Ronald Gruia, a telecom analyst for consulting firm Frost & Sullivan. Zafirovski should have focused on one or two and jettisoned the others. "If you do a good job of managing, maintaining all those pieces, you have a very diversified portfolio," Gruia says. But if you fail, "When it comes the time to make cuts, you have to start starving these individual businesses."
When Nortel did decide to exit a business, it chose the wrong one, Gruia says. Nortel opted to jettison one of the dominant next-generation technologies, a 3G technology called UMTS. Yet, some of the world's largest wireless service providers have decided to hitch their fortunes to this technology, rather than those Nortel kept in its quiver. "Getting out of UMTS was a mistake," Gruia says.
Zafirovski vehemently disagrees, noting that Nortel only had a 5% to 6% share in the UMTS business but a 22% stake in the next-generation technology used by Verizon Wireless that it chose to keep. "The move out of UMTS where we were not making money was the best move at the time," he says.
Ironically, bankruptcy might prove to be the best decision Zafirovski has made during his tenure. If it allows Nortel to restructure its debt adequately -- Theodosopoulos says it could potentially renegotiate its $4.5 billion in debt to as low as $900 million -- there's a chance for a decent second life. Zafirovski will have to either sell or shut down several Nortel businesses as part of the bankruptcy restructuring, enabling the company to "come out a strong and focused technology player." If not, as Sprung says, it will be "a sad end to what was a great Canadian success story."
Copyright 2009 BusinessWeek
Fitch Downgrades Bank of America N.A. IDR to 'A+'; Affirms BofA Corp. at 'A+'
January 16, 2009 04:44 PM Eastern Time
Fitch Downgrades Bank of America N.A. IDR to 'A+'; Affirms BofA Corp. at 'A+'
CHICAGO--(BUSINESS WIRE)--Fitch Ratings has downgraded the long-term Issuer Default Rating (IDR) of Bank of America, N.A. (BANA) and other bank subsidiaries of Bank of America Corporation (BAC) to `A+' from `AA-'. The long-term IDRs of Bank of America Corporation and other non-bank subsidiaries including Merrill Lynch & Co., Inc. (MER) are affirmed at `A+.' All short-term ratings are affirmed at 'F1+.' Support Ratings of BAC and its nonbank subsidiaries have been raised to `1' from `5' and Support Floors for bank and nonbank entities have been raised to `A+' from 'A-' (for banks) and `NF' (for nonbank entities). The Rating Outlook for the IDRs of all entities is Stable.
Individual Ratings (scale = 'A' through 'F') of all entities, with the exception of Merrill Lynch & Co. Inc., are downgraded to `C' from `B.' and are placed on Rating Watch Negative. The Individual Rating of Merrill Lynch & Co. has been downgraded to `F.' Preferred stock ratings for all entities have been downgraded to `BBB' from `A' and have been placed on Rating Watch Negative. A complete list of ratings follows at the end of this release.
Fitch's rating actions reflect our view that the combined BAC/MER franchise is likely to experience ongoing operating and asset quality pressures in the current severe recessionary environment. The actions, which result in a convergence of BAC's IDR at its Support Floor, also reflect the fact that government support has been forthcoming and additional support will likely be provided in the future if necessary, due to BAC's prominence in the global and domestic banking system.
BAC and MER, which merged on January 1, 2009, have now reported 4Q'08 results. Legacy MER reported massive losses in excess of $15 billion, including writedowns of various assets held for sale. Legacy BAC reported losses of about $2.4 billion after preferred dividends, stemming from loss provisions to cover existing and expected losses in both consumer and commercial loan portfolios. BAC's results also reflect significant writedowns on structured securities, leveraged loans, and commercial mortgage related assets held for sale.
The U.S. Treasury has agreed to provide assistance to BAC to replenish the losses incurred by MER and to protect against future deterioration in a pool of troubled assets. BAC will sell an additional $20 billion of preferred stock to the U.S. Treasury, at a fixed coupon of 8%. Also BAC and the Treasury will enter into a loss sharing agreement on a pool of troubled U.S. based assets, the majority of which are legacy MER holdings with the remainder being similar holdings from legacy BAC. Under this loss-sharing arrangement, BAC will absorb the first $10 billion of losses, with any losses above this level to be absorbed 90% by Treasury and 10% by BAC.
The current level of government support and any future government support should enable BAC to maintain its ability to operate at a risk level appropriate for a company with long-term and short-term IDRs of 'A+/F1+'. The importance of BAC to the global banking system necessitates this level of support, in Fitch's opinion. The upgrade of Support Floors for all entities and support ratings for non-bank entities reflects this view, as does the Stable Rating Outlook.
Fitch's previous IDRs for the parent BAC and its non-bank subsidiaries were already at the `A+/F1+' level, and these ratings are affirmed. However, Fitch has lowered the long-term ratings of BAC's lead bank, Bank of America N.A. and other bank affiliates by one notch, to `A+' from `AA-.'
The downgrade of Merrill Lynch & Co's Individual Rating to `F' reflects Fitch's view that this entity would likely not have survived absent assistance provided by the U.S. Treasury. This rating will remain at `F' for thirty days, after which it will be realigned with the Individual ratings of BAC's other subsidiaries. The downgrade of the Individual Ratings of legacy BAC entities and of MER's other bank and non-bank subsidiaries reflects the pressures that BAC's core franchise faces in the intermediate term, including ongoing deterioration in consumer lending exposures and mark to market assets, challenges faced by MER's investment banking franchise, and weakening trends in BAC's commercial lending book. Since the economic and operating environment continues to deteriorate, these Individual Ratings have been placed on Rating Watch Negative.
The current capital infusion will boost BAC's tier 1 ratio to about 10.7% on a proforma basis. However, over half of BAC's capital base is now comprised of preferred and trust preferred issues. To reflect the higher risk and debt burden associated with these holdings, Fitch has also downgraded BAC's preferred and trust preferred securities ratings by several notches, to `BBB.' Fitch has assigned a Rating Watch Negative to these issues, indicating the potential for further deterioration near term.
Fitch has downgraded the following ratings and placed them on Rating Watch Negative:
Bank of America Corporation
--Preferred stock to `BBB' from `A';
--Individual to `C' from 'B'.
Merrill Lynch & Co. Inc.
--Preferred stock to `BBB' from `A'.
Bank of America N.A.
--Individual to `C' from 'B'.
Bank of America Georgia, N.A
Bank of America Oregon, National Association
Bank of America Rhode Island, National Association
Bank of America California, National Association
--Individual to `C' from 'B'.
Countrywide Bank FSB
FIA Card Services N.A.
LaSalle Bank Corporation
MBNA Europe Bank Ltd.
--Individual to `C' from 'B'.
Merrill Lynch International Bank
Merrill Lynch Bank USA
Merrill Lynch Bank & Trust Co., FSB
Merrill Lynch Canada Finance
--Individual to `C' from 'B'.
BankAmerica Corporation
--Preferred Stock to `BBB' from `A'.
BAC Capital Trust I - VIII
--Trust preferred securities to `BBB' from `A'.
BAC Capital Trust X - XV
--Trust preferred securities to `BBB' from `A'.
BAC AAH Capital Funding LLC I - XIX
--Preferred stock `BBB' from `A'.
BAC LB Capital Funding Trust I - II
--Trust preferred securities to `BBB' from `A'.
BankAmerica Capital II, III
--Trust preferred securities to `BBB' from `A'.
BankAmerica Institutional Capital A, B
--Trust preferred securities to `BBB' from `A'.
BankBoston Capital Trust III-IV
--Trust preferred securities to `BBB' from `A'.
Barnett Capital Trust III
--Trust preferred securities to `BBB' from `A'.
Countrywide Capital I, III, IV, V
--Trust preferred securities to `BBB' from `A'.
First Republic Preferred Capital Corp.
--Preferred stock to `BBB' from `A'.
First Republic Preferred Capital Corp. II
--Preferred stock to `BBB' from `A'.
Fleet Capital Trust II, V, VIII, IX
--Trust preferred securities to `BBB' from `A'.
MBNA Capital A, B, D, E
--Trust preferred securities to `BBB' from `A'.
Merrill Lynch Preferred Capital Trust III, IV, and V
--Trust preferred to `BBB' from `A'.
Merrill Lynch Capital Trust I, II and III
--Trust preferred to `BBB' from `A'.
NB Capital Trust II, III, IV
--Trust preferred securities to `BBB' from `A'.
Fitch has downgraded the following ratings:
Merrill Lynch & Co. Inc.
--Individual to `F' from 'B'.
Bank of America N.A.
--Long-term deposits to `AA-' from `AA';
--Long-term IDR to `A+' from `AA-';
--Long-term senior debt to `A+' from `AA-';
--Long-term subordinated debt to `A' from `A+';
--Rating Outlook Stable.
Banc of America Securities Limited
--Long-term IDR to `A+' from `AA-';
--Rating Outlook Stable.
Bank of America Georgia, N.A.
Bank of America Oregon, National Association
Bank of America Rhode Island, National Association
Bank of America California, National Association
--Long-term IDR to `A+' from `AA-';
--Rating Outlook Stable.
Countrywide Bank FSB
--Long-term IDR to `A+' from `AA-';
--Senior debt to `A+' from `AA-';
--Long-term deposits to `AA-' from `AA';
--Rating Outlook Stable.
FIA Card Services N.A.
--Long-term deposits to `AA-' from `AA';
--Long-term IDR to `A+' from `AA-';
--Long-term senior debt to `A+' from `AA-';
--Long-term subordinated debt to `A' from `A+';
--Rating Outlook Stable.
MBNA Canada Bank
--Long-term IDR to `A+' from `AA-';
--Long-term senior debt to `A+' from `AA-';
--Long-term subordinated debt to `A' from `A+';
--Rating Outlook Stable.
MBNA Europe Bank Ltd.
--Long-term IDR to `A+' from `AA-';
--Long-term senior debt to `A+' from `AA-';
--Long-term subordinated debt to `A' from `A+';
--Rating Outlook Stable.
Merrill Lynch Bank USA
--Long-term IDR to 'A+' from `AA-';
--Long-term deposits to 'AA-' from `AA';
--Rating Outlook Stable.
Merrill Lynch Bank & Trust Co., FSB
--Long-term IDR to `A+' from `AA-';
--Long-term deposits to `AA-' from `AA';
--Rating Outlook Stable.
Merrill Lynch International Bank Ltd.
--Long-term IDR to 'A+' from `AA-';
--Rating Outlook Stable.
LaSalle Bank N.A.
LaSalle Bank Midwest N.A.
United States Trust Company N.A.
--Long-term Deposits to `AA-' from `AA'.
NationsBank, N.A.
--Long-term senior debt to `A+' from `AA-'.
Fitch has affirmed the following ratings:
Bank of America Corporation
--Long-term debt guaranteed by TLGP at `AAA';
--Short-term debt guaranteed by TLGP at `F1+';
--Long-term IDR at `A+';
--Long-term senior debt at `A+';
--Long-term subordinated debt at `A';
--Short-term IDR at 'F1+';
--Short-term debt at `F1+';
--Rating Outlook Stable.
Bank of America N.A.
--Long-term debt guaranteed by TLGP at `AAA';
--Short-term debt guaranteed by TLGP at `F1+';
--Short-term IDR at 'F1+';
--Short-term deposits at `F1+';
--Short-term debt at `F1+';
--Support at '1'.
Banc of America Securities Limited
--Short-term IDR at 'F1+'.
Banc of America Securities LLC
--Long-term IDR at 'A+';
--Short-term IDR at 'F1+';
--Rating Outlook Stable.
B of A Issuance B.V.
--Long-term IDR at `A+';
--Long-term senior debt at 'A+';
--Subordinated debt at 'A';
--Support at '1';
--Rating Outlook Stable.
Countrywide Bank FSB
--Short-term IDR at `F1+';
--Short-term deposits at `F1+';
--Short-term debt at `F1+';
--Support at `1'.
Bank of America Georgia, N.A.
Bank of America Oregon, National Association
Bank of America Rhode Island, National Association
Bank of America California, National Association
--Short-term IDR at 'F1+';
--Support at '1'.
FIA Card Services N.A.
--Short-term IDR at 'F1+';
--Short-term deposits at `F1+';
--Support at '1'.
BankAmerica Corporation
--Long-term senior debt at `A+';
--Long-term subordinated debt at `A'.
BankBoston Corporation
--Long-term subordinated debt at `A'.
Countrywide Financial Corp.
--Long-term senior debt at `A+';
--Long-term subordinated debt at `A'.
Countrywide Home Loans, Inc.
--Long-term senior debt at `A+'.
FleetBoston Financial Corp
--Long-term subordinated debt at `A'.
LaSalle Funding LLC
--Long-term senior debt at `A+'.
MBNA Corp.
--Long-term senior debt at `A+';
--Long-term subordinated debt at `A';
--Short-term debt at 'F1+'.
NationsBank Corp
--Long-term senior debt at `A+';
--Long-term subordinated debt at `A'.
NCNB, Inc.
--Long-term subordinated debt at `A'.
LaSalle Bank Corporation
--Long-term IDR at `A+';
--Short-term IDR at 'F1+'.
LaSalle Bank N.A.
LaSalle Bank Midwest N.A.
United States Trust Company N.A.
--Short-term deposits at `F1+'.
MBNA Canada Bank
--Short-term IDR at 'F1+'.
MBNA Europe Bank Ltd.
--Short-term IDR at 'F1+';
--Support at '1'.
Merrill Lynch & Co., Inc.
--Long-term IDR at 'A+';
--Long-term senior at 'A+';
--Subordinated debt at 'A';
--Short-term IDR at 'F1+';
--Commercial paper at `F1+';
--Rating Outlook Stable.
Merrill Lynch Canada Finance
--Long-term IDR at 'A+';
--Long-term senior at 'A+';
--Short-term IDR at `F1+';
--Support at '1';
--Rating Outlook Stable.
Merrill Lynch S.A.
--Long-term IDR at 'A+';
--Long-term senior at 'A+';
--Support at '1';
--Rating Outlook Stable.
Merrill Lynch Bank USA
--Short-term IDR at `F1+';
--Short-term deposits at 'F1+';
--Support at '1'.
Merrill Lynch Bank & Trust Co., FSB
--Short-term IDR at `F1+';
--Short-term deposits at 'F1+';
--Support at '1'.
Merrill Lynch Finance (Australia) Pty LTD
--Short-term IDR at `F1+';
--Commercial Paper at `F1+'.
Merrill Lynch International Bank Ltd.
--Short-term IDR at `F1+';
--Support at '1'.
Merrill Lynch & Co., Canada Ltd.
--Short-term IDR at `F1+';
--Short-term debt at `F1+'.
First Republic Bank
--Subordinated debt at 'A'.
Fitch has upgraded the following ratings:
Bank of America Corporation
--Support to `1' from '5';
Merrill Lynch & Co., Inc.
--Support to `1' from '5';
LaSalle Bank Corporation
--Support to `1' from '5';
Fitch has revised the following ratings:
Bank of America Corporation
--Support Floor to `A+' from 'NF';
Bank of America N.A.
--Support Floor to `A+' from `A-';
Bank of America Georgia, N.A.
Bank of America Oregon, National Association
Bank of America Rhode Island, National Association
Bank of America California, National Association
--Support Floor to `A+' from `A-';
Countrywide Bank FSB
--Support Floor to `A+' from `A-';
FIA Card Services N.A.
--Support Floor to `A+' from `A-';
Merrill Lynch Bank & Trust Co., FSB
--Support floor to `A+' from `A-';
Merrill Lynch Bank USA
--Support Floor to `A+' from `A-';
Merrill Lynch & Co., Inc.
--Support Floor to `A+' from 'NF';
LaSalle Bank Corporation
--Support Floor to `A+' from 'NF'.
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Key Developments For Goldman Sachs Group Inc
TPG And The Goldman Sachs Group, Inc. Weigh HeidelbergCement Stake-ReutersFriday, 16 Jan 2009 05:27am EST
Reuters reported that U.S. private equity firm TPG is considering taking a stake in HeidelbergCement jointly with The Goldman Sachs Group, Inc., sources familiar with the matter said, confirming an earlier report. One of the sources said Bain Capital was also weighing involvement in the bid for a stake in the cement maker, together with The Goldman Sachs Group, Inc. and TPG. HeidelbergCement, controlled by the Merckle family, which has been forced to put up financial assets as collateral for bank loans it is getting to help refinance, declined to comment.
Inmobiliaria Colonial Creditor Banks, Including The Goldman Sachs Group, Inc. Exercise Options On Fomento de Construcciones y Contratas And Societe Fonciere Lyonnaise Stakes-DJThursday, 15 Jan 2009 01:49am EST
Dow Jones reported that InmobilIaria Colonial said that Royal Bank of Scotland and The Goldman Sachs Group, Inc. have exercised options to acquire stakes in Fomento de Construcciones y Contratas and Societe Fonciere Lyonnaise from the real-estate company. InmobilIaria Colonial agreed to sell the stakes as part of a September agreement with its banks Goldman, Royal Bank of Scotland Group plc, Calyon and Eurohypo to restructure its debt. In a Spanish regulatory filing, InmobilIaria Colonial said that Royal Bank of Scotland Group plc bought a 3.396% stake in Fomento de Construcciones y Contratas and 7.25% of Societe Fonciere Lyonnaise. Goldman Sachs bought 7.25% of Societe Fonciere Lyonnaise and 0.72% of Fomento de Construcciones y Contratas. InmobilIaria Colonial said that under the terms of the September agreement with its creditors, these banks have acquired 14.31% of Fomento de Construcciones y Contratas and 30.56% of Societe Fonciere Lyonnaise for a total of EUR1.043 billion. These funds will be used to pay down the Company's senior debt.
The Goldman Sachs Group, Inc. Sells $3.5 Billion In 2.5 Year Notes-ReutersTuesday, 13 Jan 2009 02:42pm EST
Reuters reported that The Goldman Sachs Group, Inc. sold $3.5 billion in 2.5-year FDIC-guaranteed notes under the TLG program. Goldman Sachs was the sole bookrunning manager for the sale.
Enron creditors Recovery Corp. Settles Commercial Paper Dispute With Goldman Sachs Group, Inc.-ReutersFriday, 9 Jan 2009 02:07pm EST
Reuters reported that Enron creditors Recovery Corp. has settled a five-year legal battle over commercial paper with Goldman Sachs Group, Inc. In a bankruptcy court filing in New York, Enron said that Goldman had agreed to pay about $7 million to settle the lawsuit. Enron had originally sought to recover $383 million plus interest from Goldman.
Goldman Sachs Group, Inc. Subsidiaries to Acquire Shares in Sevan Marine ASAFriday, 9 Jan 2009 02:30am EST
Sevan Marine ASA announced that Goldman Sachs International (GSIL), a wholly owned subsidiary of Goldman Sachs Group, Inc. acquired 3,585,000 ordinary shares issued by Sevan Marine ASA. Following this transaction, GSIL was interested in 12,260,947 shares of Sevan Marine, equal to 6.25% of Sevan Marine's total issued share capital of 196,128,448. A further interest in 30,000 shares (0.02%) arose from the interest held by Goldman Sachs Asset Management, LP a wholly owned subsidiary of Goldman Sachs Group, Inc. acting as discretionary manager.
Panasonic Corporation And The Goldman Sachs Group, Inc. Agree On Sanyo Electric Co., Ltd. Sale-DJWednesday, 17 Dec 2008 12:41pm EST
Dow Jones reported that according to The Nikkei, the three financial firms that are major shareholders in Sanyo Electric Co., Ltd. have agreed to sell all their holdings in Sanyo Electric Co., Ltd. to Panasonic Corporation. Panasonic Corporation's President Fumio Ohtsubo and senior officials from The Goldman Sachs Group, Inc. met in Tokyo, with the U.S. firm agreeing to sell its Sanyo Electric Co., Ltd.'s shares. The two other major Sanyo Electric Co., Ltd. shareholders - Daiwa Securities SMBC Co. and Sumitomo Mitsui Banking Corp. - had already agreed to go along with the tender offer.
The Goldman Sachs Group, Inc. To Cut About 3,250 Jobs-DJTuesday, 16 Dec 2008 10:18am EST
Dow Jones reported that The Goldman Sachs Group, Inc. said it will cut about 3,250 jobs, or 10% of its work force, to save on costs.
The Goldman Sachs Group, Inc. Announces Change In Fiscal Year End And DividendsTuesday, 16 Dec 2008 08:15am EST
The Goldman Sachs Group, Inc. announced that the Board of Directors have approved a change in the firm’s fiscal year end from the last Friday of November, to the last Friday of December. The change is effective for the firm's 2009 fiscal year. The Board also declared a dividend of $0.4666666 per common share to be paid on March 26, 2009, to common shareholders of record on February 24, 2009. The dividend of $0.4666666 per common share is reflective of a four month period (December 2008 through March 2009), due to the change in the firm’s fiscal year end. The Board also declared dividends of $239.58, $387.50, $255.56 and $255.56 per share of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock, respectively (represented by depositary shares, each representing a 1/1,000th interest in a share of preferred stock), to be paid on February 10, 2009 to preferred shareholders of record on January 26, 2009. In addition, the Board declared dividends of $2,500 per share of Series G Preferred Stock to be paid on February 10, 2009 to preferred shareholders of record on January 26, 2009 and dividends of $14.8611111 per share of Series H Preferred Stock to be paid on February 17, 2009 to preferred shareholders of record on January 31, 2009.
The Goldman Sachs Group, Inc. Gets OK To Buy 25% Of Hongshi Group For $120 Million-DJSunday, 14 Dec 2008 08:44pm EST
Dow Jones reported that The Goldman Sachs Group, Inc. has received regulatory approval to buy a 25% stake in cement maker Hongshi Group Co. for $120 million.
The Goldman Sachs Group, Inc. To Axe 200 Staff In London-ReutersWednesday, 10 Dec 2008 11:26am EST
Reuters reported that The Goldman Sachs Group, Inc. laying off some 200 staff in London this week as part of a 10% cut in global headcount first reported in October.
The Goldman Sachs Group, Inc. Rejects Panasonic Corporation Offer on Sanyo Electric Co., Ltd.-ReutersThursday, 4 Dec 2008 12:55am EST
Reuters reported that The Goldman Sachs Group, Inc. has rejected an offer from Panasonic Corporation to buy its shares in Sanyo Electric Co., Ltd. because it believes the offer price is too low. Panasonic has raised its offer by JPY0.10 to JPY1.30 for each share in Sanyo.
The Goldman Sachs Group, Inc. Mulling Internet Banking Operation-ReutersWednesday, 3 Dec 2008 12:56am EST
Reuters reported that The Goldman Sachs Group, Inc. is considering launching an internet banking operation. If the Company goes ahead, the new unit will seek deposits that can be used to fund various businesses. The possible online bank has not been named yet, and many details of its operating plans are undecided. It is likely to offer a range of savings products, such as certificates of deposit.
Sea Containers Ltd. Reaches $17.5 Million Settlement With The Goldman Sachs Group, Inc.-DJTuesday, 2 Dec 2008 02:59pm EST
Dow Jones reported that Sea Containers Ltd. has agreed to pay $17.5 million to The Goldman Sachs Group, Inc. to settle a dispute that threatened to put some of the company's units into insolvency proceedings in Europe. Sea Containers says without the settlement, it would face new hurdles to finalizing its two-year bankruptcy reorganization and would be tied up in litigation with Goldman Sachs. The settlement, which requires court approval, resolves Goldman Sachs' claims against Sea Containers stemming from a money-losing ferry business in Europe that Sea Containers operated. Without the deal, Goldman Sachs could have forced some of Sea Containers' subsidiaries into insolvency proceedings in the United Kingdom and in Italy, according to court documents.
The Goldman Sachs Group, Inc. Sells $500 Million Three Year TLGP Floaters-ReutersTuesday, 2 Dec 2008 12:29pm EST
Reuters reported that The Goldman Sachs Group, Inc. sold $500 million in three-year floating rate notes under the FDIC's TLGP program. Goldman Sachs was the sole bookrunning manager for the sale.
The Goldman Sachs Group, Inc. Lays Off Dubai Workers On 10% Cuts-DJMonday, 1 Dec 2008 05:12am EST
Dow Jones reported that The Goldman Sachs Group, Inc. has cut its Dubai-based workforce in line with a 10% global reduction in staff to save costs. The layoffs in the Bank's Dubai International Financial Center offices were part of its global strategy. The Bank declined to give the exact numbers of the Dubai job cuts. The cuts began three weeks ago.
Reuters reported that U.S. private equity firm TPG is considering taking a stake in HeidelbergCement jointly with The Goldman Sachs Group, Inc., sources familiar with the matter said, confirming an earlier report. One of the sources said Bain Capital was also weighing involvement in the bid for a stake in the cement maker, together with The Goldman Sachs Group, Inc. and TPG. HeidelbergCement, controlled by the Merckle family, which has been forced to put up financial assets as collateral for bank loans it is getting to help refinance, declined to comment.
Inmobiliaria Colonial Creditor Banks, Including The Goldman Sachs Group, Inc. Exercise Options On Fomento de Construcciones y Contratas And Societe Fonciere Lyonnaise Stakes-DJThursday, 15 Jan 2009 01:49am EST
Dow Jones reported that InmobilIaria Colonial said that Royal Bank of Scotland and The Goldman Sachs Group, Inc. have exercised options to acquire stakes in Fomento de Construcciones y Contratas and Societe Fonciere Lyonnaise from the real-estate company. InmobilIaria Colonial agreed to sell the stakes as part of a September agreement with its banks Goldman, Royal Bank of Scotland Group plc, Calyon and Eurohypo to restructure its debt. In a Spanish regulatory filing, InmobilIaria Colonial said that Royal Bank of Scotland Group plc bought a 3.396% stake in Fomento de Construcciones y Contratas and 7.25% of Societe Fonciere Lyonnaise. Goldman Sachs bought 7.25% of Societe Fonciere Lyonnaise and 0.72% of Fomento de Construcciones y Contratas. InmobilIaria Colonial said that under the terms of the September agreement with its creditors, these banks have acquired 14.31% of Fomento de Construcciones y Contratas and 30.56% of Societe Fonciere Lyonnaise for a total of EUR1.043 billion. These funds will be used to pay down the Company's senior debt.
The Goldman Sachs Group, Inc. Sells $3.5 Billion In 2.5 Year Notes-ReutersTuesday, 13 Jan 2009 02:42pm EST
Reuters reported that The Goldman Sachs Group, Inc. sold $3.5 billion in 2.5-year FDIC-guaranteed notes under the TLG program. Goldman Sachs was the sole bookrunning manager for the sale.
Enron creditors Recovery Corp. Settles Commercial Paper Dispute With Goldman Sachs Group, Inc.-ReutersFriday, 9 Jan 2009 02:07pm EST
Reuters reported that Enron creditors Recovery Corp. has settled a five-year legal battle over commercial paper with Goldman Sachs Group, Inc. In a bankruptcy court filing in New York, Enron said that Goldman had agreed to pay about $7 million to settle the lawsuit. Enron had originally sought to recover $383 million plus interest from Goldman.
Goldman Sachs Group, Inc. Subsidiaries to Acquire Shares in Sevan Marine ASAFriday, 9 Jan 2009 02:30am EST
Sevan Marine ASA announced that Goldman Sachs International (GSIL), a wholly owned subsidiary of Goldman Sachs Group, Inc. acquired 3,585,000 ordinary shares issued by Sevan Marine ASA. Following this transaction, GSIL was interested in 12,260,947 shares of Sevan Marine, equal to 6.25% of Sevan Marine's total issued share capital of 196,128,448. A further interest in 30,000 shares (0.02%) arose from the interest held by Goldman Sachs Asset Management, LP a wholly owned subsidiary of Goldman Sachs Group, Inc. acting as discretionary manager.
Panasonic Corporation And The Goldman Sachs Group, Inc. Agree On Sanyo Electric Co., Ltd. Sale-DJWednesday, 17 Dec 2008 12:41pm EST
Dow Jones reported that according to The Nikkei, the three financial firms that are major shareholders in Sanyo Electric Co., Ltd. have agreed to sell all their holdings in Sanyo Electric Co., Ltd. to Panasonic Corporation. Panasonic Corporation's President Fumio Ohtsubo and senior officials from The Goldman Sachs Group, Inc. met in Tokyo, with the U.S. firm agreeing to sell its Sanyo Electric Co., Ltd.'s shares. The two other major Sanyo Electric Co., Ltd. shareholders - Daiwa Securities SMBC Co. and Sumitomo Mitsui Banking Corp. - had already agreed to go along with the tender offer.
The Goldman Sachs Group, Inc. To Cut About 3,250 Jobs-DJTuesday, 16 Dec 2008 10:18am EST
Dow Jones reported that The Goldman Sachs Group, Inc. said it will cut about 3,250 jobs, or 10% of its work force, to save on costs.
The Goldman Sachs Group, Inc. Announces Change In Fiscal Year End And DividendsTuesday, 16 Dec 2008 08:15am EST
The Goldman Sachs Group, Inc. announced that the Board of Directors have approved a change in the firm’s fiscal year end from the last Friday of November, to the last Friday of December. The change is effective for the firm's 2009 fiscal year. The Board also declared a dividend of $0.4666666 per common share to be paid on March 26, 2009, to common shareholders of record on February 24, 2009. The dividend of $0.4666666 per common share is reflective of a four month period (December 2008 through March 2009), due to the change in the firm’s fiscal year end. The Board also declared dividends of $239.58, $387.50, $255.56 and $255.56 per share of Series A Preferred Stock, Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock, respectively (represented by depositary shares, each representing a 1/1,000th interest in a share of preferred stock), to be paid on February 10, 2009 to preferred shareholders of record on January 26, 2009. In addition, the Board declared dividends of $2,500 per share of Series G Preferred Stock to be paid on February 10, 2009 to preferred shareholders of record on January 26, 2009 and dividends of $14.8611111 per share of Series H Preferred Stock to be paid on February 17, 2009 to preferred shareholders of record on January 31, 2009.
The Goldman Sachs Group, Inc. Gets OK To Buy 25% Of Hongshi Group For $120 Million-DJSunday, 14 Dec 2008 08:44pm EST
Dow Jones reported that The Goldman Sachs Group, Inc. has received regulatory approval to buy a 25% stake in cement maker Hongshi Group Co. for $120 million.
The Goldman Sachs Group, Inc. To Axe 200 Staff In London-ReutersWednesday, 10 Dec 2008 11:26am EST
Reuters reported that The Goldman Sachs Group, Inc. laying off some 200 staff in London this week as part of a 10% cut in global headcount first reported in October.
The Goldman Sachs Group, Inc. Rejects Panasonic Corporation Offer on Sanyo Electric Co., Ltd.-ReutersThursday, 4 Dec 2008 12:55am EST
Reuters reported that The Goldman Sachs Group, Inc. has rejected an offer from Panasonic Corporation to buy its shares in Sanyo Electric Co., Ltd. because it believes the offer price is too low. Panasonic has raised its offer by JPY0.10 to JPY1.30 for each share in Sanyo.
The Goldman Sachs Group, Inc. Mulling Internet Banking Operation-ReutersWednesday, 3 Dec 2008 12:56am EST
Reuters reported that The Goldman Sachs Group, Inc. is considering launching an internet banking operation. If the Company goes ahead, the new unit will seek deposits that can be used to fund various businesses. The possible online bank has not been named yet, and many details of its operating plans are undecided. It is likely to offer a range of savings products, such as certificates of deposit.
Sea Containers Ltd. Reaches $17.5 Million Settlement With The Goldman Sachs Group, Inc.-DJTuesday, 2 Dec 2008 02:59pm EST
Dow Jones reported that Sea Containers Ltd. has agreed to pay $17.5 million to The Goldman Sachs Group, Inc. to settle a dispute that threatened to put some of the company's units into insolvency proceedings in Europe. Sea Containers says without the settlement, it would face new hurdles to finalizing its two-year bankruptcy reorganization and would be tied up in litigation with Goldman Sachs. The settlement, which requires court approval, resolves Goldman Sachs' claims against Sea Containers stemming from a money-losing ferry business in Europe that Sea Containers operated. Without the deal, Goldman Sachs could have forced some of Sea Containers' subsidiaries into insolvency proceedings in the United Kingdom and in Italy, according to court documents.
The Goldman Sachs Group, Inc. Sells $500 Million Three Year TLGP Floaters-ReutersTuesday, 2 Dec 2008 12:29pm EST
Reuters reported that The Goldman Sachs Group, Inc. sold $500 million in three-year floating rate notes under the FDIC's TLGP program. Goldman Sachs was the sole bookrunning manager for the sale.
The Goldman Sachs Group, Inc. Lays Off Dubai Workers On 10% Cuts-DJMonday, 1 Dec 2008 05:12am EST
Dow Jones reported that The Goldman Sachs Group, Inc. has cut its Dubai-based workforce in line with a 10% global reduction in staff to save costs. The layoffs in the Bank's Dubai International Financial Center offices were part of its global strategy. The Bank declined to give the exact numbers of the Dubai job cuts. The cuts began three weeks ago.
Key Developments For Morgan Stanley
Citigroup Inc. In Discussions With Morgan Stanley To Consider Combination Of Retail Brokerage BusinessTuesday, 13 Jan 2009 09:34am EST
Citigroup Inc. announced that it is in discussions with Morgan Stanley concerning a possible combination of the retail brokerage business operated under the Smith Barney name and the wealth management business operated by Morgan Stanley. No definitive agreement has been reached, and no assurance can be given that any such agreement will be reached.
Citigroup Inc. In Talks To Merge Brokerage With Morgan Stanley-ReutersFriday, 9 Jan 2009 04:37pm EST
Reuters reported that according to a source familiar with the matter, Citigroup Inc. is in talks to sell its Smith Barney brokerage unit, and is considering a joint venture with Morgan Stanley to merge their respective brokerage units. Under the plan being discussed, Morgan Stanley would own 51% of the joint venture and Citigroup would own the rest. Citigroup would cede operational and strategic control of the retail brokerage business to Morgan Stanley. Morgan Stanley would expect to buy the rest of Citigroup's Smith Barney business over the next three to five years, the source said. Citigroup and Morgan Stanley declined to comment.
Morgan Stanley Files Automatic Mixed Securities Shelf-DJTuesday, 23 Dec 2008 02:12pm EST
Dow Jones reported that Morgan Stanley and affiliates filed with the Securities and Exchange Commission to sell an undisclosed amount of mixed securities from time to time. The mixed securities include Morgan Stanley warrants, common and preferred stock, debt securities, depositary shares, purchase contracts and units. They also include capital securities of Morgan Stanley Capital Trusts three through 13, and guarantees of Morgan Stanley with respect to capital securities. Morgan Stanley said it plans to use net proceeds from the sale for general corporate purposes, which may include, additions to working capital, the repurchase of outstanding common stock and the repayment of indebtedness. Morgan Stanley said it anticipates raising additional funds from time to time through equity or debt financing, including borrowings under revolving credit agreements, to finance its businesses worldwide.
Morgan Stanley's Morgan Stanley Private Equity Asia Buys Stake In Biotor Industries-DJTuesday, 23 Dec 2008 06:54am EST
Dow Jones reported that Morgan Stanley Private Equity Asia, the Asian private equity group of Morgan Stanley, has bought a minority stake in Biotor Industries for INR1.8 billion. It didn't reveal the size of the stake in Biotor, which manufactures castor oil and castor derivatives.
Morgan Stanley Announces Change In Fiscal Year End; Declares Quarterly DividendWednesday, 17 Dec 2008 08:00am EST
Morgan Stanley announced that on December 16, 2008, its Board of Directors approved a change in the Firm’s fiscal year end from November 30 to December 31 of each year. This change to a calendar year reporting cycle will begin January 1, 2009. As a result of the change, the Company will have a December 2008 fiscal month transition period, the results of which are expected to be separately reported in the Company's Quarterly Report on Form 10-Q for the new calendar first quarter ending March 31, 2009 and in the Company's Annual Report on Form 10-K for calendar year 2009. The Company expects this change to also impact any record dates and payment dates for any dividends to be paid on the Company’s common stock, as may be approved by the Board in the future, as compared to such dates in fiscal 2008. The Company announced that its Board of Directors declared a $0.27 quarterly dividend per common share. The dividend is payable on February 13, 2009, to common shareholders of record on January 30, 2009.
The Securities Law Firm Of Tramont Guerra & Nunez, PA Announces Securities Arbitration Claim Filed Against Morgan StanleyMonday, 8 Dec 2008 08:01am EST
The Securities Law Firm of Tramont Guerra & Nunez, PA (TGN) announced the filing of a securities arbitration claim against Morgan Stanley with the Financial Industry Regulatory Authority (FINRA) for sales practice violations. The securities arbitration claim alleges sales practice violations which include excessive activity, known as churning and violation of NASD Notice to Members 04-89, Compliance Bulletin titled Liquefied Home Equity. The securities arbitration claim, filed with FINRA, alleges account churning of an account which lost roughly 80% of its value over a four month period. The arbitration claim alleges conclusive evidence of churning based on the level of turnover of the account assets during the period at issue. The source of the funds for the account assets was from the refinancing of the client's personal residence.
Chicago Parking Meters, LLC Selected As Winning Bidder For Chicago Metered Parking SystemWednesday, 3 Dec 2008 08:00am EST
Morgan Stanley announced that Chicago Parking Meters, LLC, a consortium led by its infrastructure investment group that is part of the Firm’s Investment Management Division, has been selected by the City of Chicago as the winning bidder for the 75 year concession of the Chicago Metered Parking System (the System or metered parking system). Chicago Parking Meters, LLC submitted a bid of $1.15 billion for the metered parking system. LAZ Parking (LAZ) will be responsible for the operation of the System. The metered parking system has approximately 36,000 parking meters throughout the City of Chicago. The City retains all power and authority to set rates and periods of stay and operation for all of the parking meters in the System. The concession is subject to the approval of the Chicago City Council, and the closing is expected to occur in the first quarter of 2009.
Morgan Stanley Lays Off 15% Of Dubai Office-DJSunday, 30 Nov 2008 11:27pm EST
Dow Jones reported that Morgan Stanley laid off almost 15% of its workforce in Dubai last week.
Morgan Stanley Sells $5.25 Billion In Notes-ReutersWednesday, 26 Nov 2008 10:47am EST
Reuters reported that Morgan Stanley sold $5.25 billion of debt in a three-part deal backed by the Federal Deposit Insurance Corp. The bank offered $2.25 billion of two-year fixed-rate notes at 180 basis points over the 1.25% Treasury due in November 2010. It also offered a second tranche of $2.5 billion of three-year fixed-rate notes that priced at 186 basis points over comparable Treasuries. The bank offered a third tranche of $500 million three-year floating-rate notes at the three-month London Interbank Offer Rate plus 85 basis points.
Morgan Stanley Buys 19.9% Of Hangzhou Industrial & Commercial Trust Co. For $29 Million-DJTuesday, 25 Nov 2008 11:05pm EST
Dow Jones reported that Morgan Stanley has acquired 19.9% of China's Hangzhou Industrial & Commercial Trust Co. for CNY200 million ($29 million).
Citigroup Inc. announced that it is in discussions with Morgan Stanley concerning a possible combination of the retail brokerage business operated under the Smith Barney name and the wealth management business operated by Morgan Stanley. No definitive agreement has been reached, and no assurance can be given that any such agreement will be reached.
Citigroup Inc. In Talks To Merge Brokerage With Morgan Stanley-ReutersFriday, 9 Jan 2009 04:37pm EST
Reuters reported that according to a source familiar with the matter, Citigroup Inc. is in talks to sell its Smith Barney brokerage unit, and is considering a joint venture with Morgan Stanley to merge their respective brokerage units. Under the plan being discussed, Morgan Stanley would own 51% of the joint venture and Citigroup would own the rest. Citigroup would cede operational and strategic control of the retail brokerage business to Morgan Stanley. Morgan Stanley would expect to buy the rest of Citigroup's Smith Barney business over the next three to five years, the source said. Citigroup and Morgan Stanley declined to comment.
Morgan Stanley Files Automatic Mixed Securities Shelf-DJTuesday, 23 Dec 2008 02:12pm EST
Dow Jones reported that Morgan Stanley and affiliates filed with the Securities and Exchange Commission to sell an undisclosed amount of mixed securities from time to time. The mixed securities include Morgan Stanley warrants, common and preferred stock, debt securities, depositary shares, purchase contracts and units. They also include capital securities of Morgan Stanley Capital Trusts three through 13, and guarantees of Morgan Stanley with respect to capital securities. Morgan Stanley said it plans to use net proceeds from the sale for general corporate purposes, which may include, additions to working capital, the repurchase of outstanding common stock and the repayment of indebtedness. Morgan Stanley said it anticipates raising additional funds from time to time through equity or debt financing, including borrowings under revolving credit agreements, to finance its businesses worldwide.
Morgan Stanley's Morgan Stanley Private Equity Asia Buys Stake In Biotor Industries-DJTuesday, 23 Dec 2008 06:54am EST
Dow Jones reported that Morgan Stanley Private Equity Asia, the Asian private equity group of Morgan Stanley, has bought a minority stake in Biotor Industries for INR1.8 billion. It didn't reveal the size of the stake in Biotor, which manufactures castor oil and castor derivatives.
Morgan Stanley Announces Change In Fiscal Year End; Declares Quarterly DividendWednesday, 17 Dec 2008 08:00am EST
Morgan Stanley announced that on December 16, 2008, its Board of Directors approved a change in the Firm’s fiscal year end from November 30 to December 31 of each year. This change to a calendar year reporting cycle will begin January 1, 2009. As a result of the change, the Company will have a December 2008 fiscal month transition period, the results of which are expected to be separately reported in the Company's Quarterly Report on Form 10-Q for the new calendar first quarter ending March 31, 2009 and in the Company's Annual Report on Form 10-K for calendar year 2009. The Company expects this change to also impact any record dates and payment dates for any dividends to be paid on the Company’s common stock, as may be approved by the Board in the future, as compared to such dates in fiscal 2008. The Company announced that its Board of Directors declared a $0.27 quarterly dividend per common share. The dividend is payable on February 13, 2009, to common shareholders of record on January 30, 2009.
The Securities Law Firm Of Tramont Guerra & Nunez, PA Announces Securities Arbitration Claim Filed Against Morgan StanleyMonday, 8 Dec 2008 08:01am EST
The Securities Law Firm of Tramont Guerra & Nunez, PA (TGN) announced the filing of a securities arbitration claim against Morgan Stanley with the Financial Industry Regulatory Authority (FINRA) for sales practice violations. The securities arbitration claim alleges sales practice violations which include excessive activity, known as churning and violation of NASD Notice to Members 04-89, Compliance Bulletin titled Liquefied Home Equity. The securities arbitration claim, filed with FINRA, alleges account churning of an account which lost roughly 80% of its value over a four month period. The arbitration claim alleges conclusive evidence of churning based on the level of turnover of the account assets during the period at issue. The source of the funds for the account assets was from the refinancing of the client's personal residence.
Chicago Parking Meters, LLC Selected As Winning Bidder For Chicago Metered Parking SystemWednesday, 3 Dec 2008 08:00am EST
Morgan Stanley announced that Chicago Parking Meters, LLC, a consortium led by its infrastructure investment group that is part of the Firm’s Investment Management Division, has been selected by the City of Chicago as the winning bidder for the 75 year concession of the Chicago Metered Parking System (the System or metered parking system). Chicago Parking Meters, LLC submitted a bid of $1.15 billion for the metered parking system. LAZ Parking (LAZ) will be responsible for the operation of the System. The metered parking system has approximately 36,000 parking meters throughout the City of Chicago. The City retains all power and authority to set rates and periods of stay and operation for all of the parking meters in the System. The concession is subject to the approval of the Chicago City Council, and the closing is expected to occur in the first quarter of 2009.
Morgan Stanley Lays Off 15% Of Dubai Office-DJSunday, 30 Nov 2008 11:27pm EST
Dow Jones reported that Morgan Stanley laid off almost 15% of its workforce in Dubai last week.
Morgan Stanley Sells $5.25 Billion In Notes-ReutersWednesday, 26 Nov 2008 10:47am EST
Reuters reported that Morgan Stanley sold $5.25 billion of debt in a three-part deal backed by the Federal Deposit Insurance Corp. The bank offered $2.25 billion of two-year fixed-rate notes at 180 basis points over the 1.25% Treasury due in November 2010. It also offered a second tranche of $2.5 billion of three-year fixed-rate notes that priced at 186 basis points over comparable Treasuries. The bank offered a third tranche of $500 million three-year floating-rate notes at the three-month London Interbank Offer Rate plus 85 basis points.
Morgan Stanley Buys 19.9% Of Hangzhou Industrial & Commercial Trust Co. For $29 Million-DJTuesday, 25 Nov 2008 11:05pm EST
Dow Jones reported that Morgan Stanley has acquired 19.9% of China's Hangzhou Industrial & Commercial Trust Co. for CNY200 million ($29 million).
美国银行17年来首次报亏 第四季亏17.9亿美元
美国银行美东时间16日上午(北京时间16日晚)公布第四财季业绩，美国银行第四财季亏损17.9亿美元，这是美国银行自1991年以来首次报亏，美国银行同时宣布将削减股息。
根据美国银行公告，这家美国最大银行第四财季亏损17.9亿美元，合每股亏损48美分，美国银行上年同期净利2.62亿美元，每股盈利5美分，美国银行的业绩中并没有计入美林的153亿美元亏损，美国银行本月初完成了对美林的收购。
16日早些时候，美国政府同意将向美国银行提供200亿美元的新资本并为其1180亿美元资产提供担保，此举旨在帮助美国银行消化对美林的并购并防止金融危机进一步深化。美国政府向美国银行注资200亿美元，将获得该银行部分优先股。
美国政府还同意分担美国银行并购美林所产生的不良资产损失。美国银行将消化首批100亿美元损失，财政部和联邦存款保险公司将分担另外100亿美元损失，在政府承担首批100亿美元损失后，美联储将以贷款做为支持后盾。
相关报道：
收购美林再重创美国银行 巨额损失披露股价狂跌
美国银行获得合计1380亿美元金融援助
美国政府向美国银行提供200亿美元救助资金
美国政府宣布将向美国银行再注资200亿美元
美国银行获数十亿美元政府资助
分析师称美国银行可能是下一个花旗
美国银行和美林将在伦敦裁员1900人
前美林总裁将离开美国银行
相关专题：
花旗大摩合并经纪业务
华尔街 综述：银行报巨亏 美股探底反弹(0116)
北京时间1月17日凌晨消息，美股周五再次走出一个探底反弹行情，主要股指收盘小幅上扬。因部分金融股被抛售，美股周五一度大幅下跌，道指在下午最低下跌103点。道指收盘涨0.8%，纳指涨1.2%，标准普尔500指数涨0.8%。
美国政府于周五早间宣布向美国银行提供200亿美元投资，并为其总值1180亿美元的问题资产提供担保。同时，花旗3010亿美元的问题资产也得到了美国政府的担保。花旗宣布，已经敲定了与政府担保计划有关的条款。美国政府在去年11月下旬公布了为花旗提供保护的计划。
美国银行(BAC)下跌了13.7%，该行报告第四财季每股亏损48美分，而分析师的平均预期为每股收益8美分。美国银行迫于资金需求将每股分红从32美分调降至1美分。该股当前股价接近15年来低点。
花旗集团(C)下跌了8.6%，该公司第四财季每股亏损1.72美元，分析师此前的平均预期为每股亏损41美分。花旗同时宣布将公司拆分为两个独立运营部门。
伦敦GFT衍生部门主管马汀-斯兰尼(Martin Slaney)指出，美国政府似乎愿意继续提供现金注资和担保承诺，为那些‘大到不能倒下’的公司提供继续经营下去的支援，这一点受到了市场的欢迎。他们相信，银行的资产负债表漏洞百出，融资能力急剧下降，若无政府的直接行动，信贷市场难以有实质性的好转。随着时间的推移，迫使政府采取非常规手段进行干预的压力将越来越大
美国劳工部周五报告，2008年美国消费者价格仅上涨0.1%，成为全球经济已陷入严重衰退的又一有力证据。十二月份消费者价格指数下降0.7%，为该指数连续三个月来的下跌。其中能源价格大跌8.3%，食品价格下滑0.1%。此前华尔街经济学家普遍预计十二月份消费者价格指数下滑0.8%。
1月份密歇根大学消费者信心初步指数连续第二个月上升，从去年12月份的60.1上升至61.9，原因是汽油价格下跌，且市场预期当选总统奥巴马将采取措施避免经济继续恶化。
美联储报告，去年12月份工业产值下滑2%，降幅是经济学家此前预期的两倍，原因是美国公司纷纷减产以应对需求下降的局面。当月，汽车产量下降至1/4个世纪以来的最低水平。
纽约商业交易所的2月期原油合约上涨1.11美元，收于36.51美元，涨幅为3.1%。国际能源机构(IEA)发布石油需求将持续下滑的预期后，上午油价一度跌至34.18美元，创一个月以来新低。
周五欧洲股市收高，这是最近八个交易日以来欧洲股市首次上涨。政府再度出台振兴金融行业措施的消息提升了投资者情绪，银行业和石油生产商板块涨幅领先。泛欧道琼斯600指数上涨了0.9%，法国CAC-40指数上涨了0.7%，德国DAX 30指数上涨了0.7%，英国富时100指数上涨了0.6%。
截至收盘美东时间1月16日下午4:00(北京时间1月17日5:00)，道琼斯工业平均指数上涨了68.73点，至8281.22点，涨幅为0.84%。道指本周共下跌3.7%。
标准普尔500指数上涨了6.38点，至850.12点，涨幅为0.76%。公共水电气事业、医疗与非必需消费品板块领涨，能源、通讯服务与金融股跌幅较大。标准普尔500指数本周共下跌4.5%。
纳斯达克综合指数上涨了17.49点，至1529.33点，涨幅为1.16%。
英特尔(INTC)上涨了3.4%，该公司报告第四季度盈利较去年同期下降90%，与市场预期相符。
Baird Research分析师称目前买入这支股票还为时尚早，“在我们看来，由于第四季度和第一季度营收大幅下降，且到目前为止该公司还没有拿出长期的制造成本削减措施，该公司管理层对于下半年产能利用率恢复正常的预期可能无法变成现实，”
Genentech(DNA)发布的09年盈利预期没有达到分析师预期，该股上涨了0.02%。
周四，美股大幅下跌后强劲反弹，收盘小幅上扬，道指结束了连续6天下跌的势头。美股盘中最低下跌了3%，道指一度下跌205点并跌破8000点大关。道指收盘涨0.2%，纳指涨1.5%，标准普尔500指数涨0.1%。
美12月CPI下降0.7% 年涨幅创54年新低
美国劳工部周五报告，2008年美国消费者价格仅上涨0.1%，成为全球经济已陷入严重衰退的又一有力证据。
十二月份消费者价格指数下降0.7%，为该指数连续三个月来的下跌。其中能源价格大跌8.3%，食品价格下滑0.1%。此前华尔街经济学家普遍预计十二月份消费者价格指数下滑0.8%。
CPI自去年七月份上涨0.8%以来，一直呈现下降趋势。自七月份以后，能源和商品期货价格均大幅走跌。
十二月份，扣除食品和能源价格后的核心价格指数连续第二个月持平，与市场预期相符。自去年九月份以来，核心CPI就一直没有上涨。
2008年，消费者价格仅上涨0.1%，涨幅创自1954年以来新低。1954年，年通胀率下降了0.7%。2008年核心CPI攀升1.8%，为自2003年以来最小升幅。
若十二月份CPI如预期的那样下降0.8%，那么2008年消费者价格不仅没有增长，且呈下降趋势。
另一项针对城市工人的CPI调查结果显示，2008年消费者价格下滑0.5%，创自1949年以来跌幅之最。
十二月份城市工人CPI下降0.9%，平均时薪减少0.3%，实际(经通胀因素调整后)周薪增加0.6%。2009年，实际薪金增加2.9%。
多数经济学家预计，随着全球需求下滑，今年通胀压力将趋于缓和。美联储官员表示对通货紧缩问题并不十分担心，他们声称，为防止明年通货膨胀的威胁抬头，一旦经济开始复苏，他们将准备缩紧货币供应量。
密歇根大学1月消费者信心指数意外上升
1月份美国消费者信心指数意外上升，原因是汽油价格下跌，且市场加大了对当选总统巴拉克·奥巴马(Barack Obama)可能采取措施避免经济继续恶化的预期。
密歇根大学消费者信心报告显示，1月份密歇根大学消费者信心初步指数连续第二个月上升，从去年12月份的60.1上升至61.9；通胀预期指数则有所上升。
此前调查显示，根据接受调查的63名经济学家的平均预期，该指数将下跌至59，预测范围在54到63之间。
报告显示，未来六个月中的消费者信心预期指数从去年12月份的54上升至57.2，当前状况指数从69.5下跌至69.2。
据美国汽车协会(AAA)称，本月截至目前为止，全美常规汽油的平均零售价格为每加仑1.72美元，不足去年10月初价格的一半。
美国当选总统巴拉克·奥巴马(Barrack Obama)将于下周正式上台，目前他正在向国会施压，要求后者尽快通过一项经济激励计划，该计划的总额可能超过8000亿美元，目的是创造更多就业岗位、削减税收及提高基础设施开支。但即使如此，失业率上升、个人资产下滑及信贷的缺乏仍将令消费者开支受到限制。
东京三菱日联银行(Tokyo-Mitsubishi UFJ Ltd.)驻纽约的资深经济学家艾伦·岑特纳(Ellen Zentner)称：“奥巴马经济激励计划将给消费者带来帮助，但经济信心仍旧很难得到提振，消费者开支前景十分黯淡。”
周五纽约油价上涨3.1% 报36.51美元
纽约市场的主力原油期货合约止住了连续两天下跌的颓势，最终温和高收。国际能源机构(IEA)发布石油需求将持续下滑的预期后，早盘油价一度跌至34.18美元，创一个月以来新低。
IEA公布最新的需求预测报告前，美国政府和石油输出国家组织(OPEC)在本周稍早时都发布了类似预期。如果这些预期是正确的，全球石油需求将出现数十年来的第一次连续两年下滑。
纽约商业交易所的2月期原油合约上涨1.11美元，收于36.51美元，涨幅为3.1%。该合约将于下周二到期。目前3月期合约的交易更为活跃，收盘价较2月合约高出约8美元。
在周五晨发布的月度报告中，总部位于巴黎的IEA宣布，将自己对2009年全球石油需求的预期下调100万桶/天。此外，该机构将2008年的需求估计值降至8580万桶/天，较原预期减少了7万桶/天。这是IEA近26年来首次预言石油消费将连续两年下滑。
此前，美国能源部下属的能源信息署(EIA)在本周二发表了类似言论，预测09年的全球石油消费量将连续第二年下降，降幅约为80万桶/天。周四OPEC指出，今年的全球石油消费将减少约20万桶/天，而2008年的数字将同比减少10万桶/天。
Sucden金融研究公司的分析师尼米特-卡玛(Nimit Khamar)评论道，上述看空石油需求的预期“表明了油市基本面的脆弱，限制了周五油价的上涨空间”。
周五欧股反弹 石油股领涨
周五欧洲股市收高，这是最近八个交易日以来欧洲股市首次上涨。政府再度出台振兴金融行业措施的消息提升了投资者情绪，银行业和石油生产商板块涨幅领先。
泛欧道琼斯600指数上涨了0.9%，收于192.95点；该指数15个板块当中有11个上涨。
HBOS银行股市策略师表示，“为了防止金融危机状况继续恶化，美国政府已决定继续向美国银行注资、并帮助该公司承担美林公司不良资产带来的亏损。金融行业的稳定对于全球股市和经济增长都有好处。”
银行业板块在周五欧洲股市中涨幅领先。法国兴业银行(17.93,0.85,4.98%,吧)(Societe Generale) (FR:013080)和意大利联合信贷银行(Unicredit) (IT:UCG)均上涨了3%。
受到市场对银行业公司前景问题的担忧情绪影响，本周欧洲股市大幅下跌。但在周五美国银行(Bank of America) (BAC)获得政府注资200亿美元并得到帮助该公司承担未来亏损的承诺之后，今天欧洲股市中的银行业板块有所回升。
今天盘前，美国银行和花旗集团(Citigroup) (C)均宣布蒙受了巨额亏损。NCB Stockbrokers机构策略师伯纳德-麦克阿灵顿(Bernard McAlinden)表示，“坏消息是美国银行需要更多的政府资金资助和保证。但如果该行不能得到这些，那么情况还将变得更加糟糕。”
此外，英国《泰晤士报》报道称，英国政府正在考虑采取包括注资等在内的新措施以推动英国银行业继续开始放贷，具体措施有可能在下周公布。
周五欧洲各主要国家股市中，法国CAC-40 (FR:1804546)指数上涨了0.7%，重返3000点整数关口之上，收于3,016.75点。德国DAX 30指数(DX:1876534)上涨了0.7%，收于4,366.28点。英国富时100指数(UK:UKX)上涨了0.6%，收于4,147.06点。
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