| Stocks mostly higher after Intel results
The tech arena did see some cheer Wednesday, thanks to Oracle Corp.'s deal to buy BEA Systems Inc. for about $7.85 billion. Last year BEA rejected a less expensive bid from Oracle, which raised its offer but not to the level sought by BEA. In late afternoon trading, the Dow rose 53.08, or 0.42 percent, to 12,554.19. Broader stock indicators also rose. The Standard & Poor's 500 index advanced 2.62, or 0.19 percent, to 1,383.57, and the Nasdaq composite index fell 2.57, or 0.11 percent, to 2,415.02. Intel was by far the biggest decliner among the 30 stocks that make up the Dow and also weighed on the tech-dominated Nasdaq. Intel fell $2.69, or 12 percent, to $20. Advancing issues outpaced decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.47 billion shares.
Icahn Is Crazy for Snubbing Oracle
Let me get this straight. A bidding war for BEA Systems (Nasdaq: BEAS) is nigh because Carl Icahn thinks Oracle's (Nasdaq: ORCL) $6.7 billion proposal for the company is too low? That may be about the dumbest thing I've ever heard. Glory days will pass you byYes, I'm an Oracle shareholder. But I'm as amused as anyone else when CEO Larry Ellison dismisses software as a service as a here-today-gone-tomorrow fad. Every serious claim from Ellison and his team is to be taken with a giant boulder of salt. Yet when Oracle President Charles Phillips recently told investors that BEA had "become less relevant," he had facts on his side. Researcher IDC pegs IBM (NYSE: IBM) as the world leader in "middleware," so called for how the stuff is used to connect systems that wouldn't otherwise talk to each other.
Mexico stocks dip on US recession woes, peso firm
As long as the U.S. market continues with its rollercoaster ride, volatility will prevail in Mexico." Mexico's economy leans heavily on the United States, where it now ships an estimated 80 percent of its exports. The yield on the benchmark government 10-year peso bond <MX10YT=RR> slipped 3 basis points to 8.15 percent. In local stock trading, cellphone operator America Movil (AMXL.MX: Quote, Profile, Research), the most heavily weighted stock in the benchmark IPC index, dropped 1.16 percent to 31.61 pesos. Its New York-traded stock (AMX.N: Quote, Profile, Research) slipped 0.67 percent to $58.05. Financial group Inbursa (GFINBURO.MX: Quote, Profile, Research), owned by Mexican tycoon Carlos Slim, one of the world's richest men, ended among the top decliners, down 6.32 percent at 27.26 pesos.
This Week's Barron's Roundup
The team guides investors through Apple's earnings on Tuesday.
Stockpickr
Jim Cramer's Portfolios of the Week
1/18/2008 11:35 AM EST
These are the stocks Cramer's been talking about lately.
Stockpickr
You Ask, Cramer Answers
1/18/2008 10:39 AM EST
Jim Cramer answers questions on PBR and more.
At the time of publication, Altucher and/or his fund had no holdings in stocks mentioned, although positions may change at any time. James Altucher is president of Stockpickr LLC, a wholly owned subsidiary of TheStreet.com and part of its network of Web properties, and a managing partner at Formula Capital, an alternative asset management firm that runs a fund of hedge funds. He is also a weekly columnist for the Financial Times and the author of Trade Like a Hedge Fund, Trade Like Warren Buffett and SuperCa$h.
Tasered-teen case raises new questions for MPs
What is going on here with the Halifax police service.
If this girl in question did something wrong then arrest is warranted but with 3 grown police officers there's no way the girl can resist arrest. It doesn't add up.
Also using a taser on a teen. Come on here! When the police did tasers on themselves as an experiment they only did it on themselves and not on children/teens. Looks like harsh treatment here.
I usually thought that the police were here 'to serve and protect' but with so many deaths from tasers, police beating deaths, cover ups etc... we can't even trust the police.
So people get those cell phone cameras ready if you're confronted by the police. Man would it make them look bad. Posted 30/01/08 at 1:31 PM EST | Alert an Editor | Link to Comment .
|
