| Belo sets exchange rate for newspaper spin-off
DALLAS—Media owner Belo Corp. has set a date for spinning off its newspapers, including The Dallas Morning News, with stockholders getting one share of the new company for every five shares of Belo they own on Jan. 25. Belo also said Friday that it asked the Internal Revenue Service to let the transaction qualify as a tax-free distribution to its shareholders. Dallas-based Belo, which will keep its 20 television stations, said the shares of the newspaper company, A.H. Belo Corp., would be distributed Feb. 8 and begin trading on the New York Stock Exchange three days later under ticker symbol AHC. Belo announced Oct. 1 that it would spin off its four daily newspapers and their Web sites into a new company. Some shareholders had pressed for the split in hopes that Belo stock would rise without the weight of the newspaper division.
Indonesian shares close lower on Dow fall, record oil price - UPDATE
Gains in oil producers and palm plantation stocks helped limit the market fall although trading volume remained light as most players were still away for the new year break. The composite index closed down 16.44 points or 0.6 percent at 2,715.07, off a low of 2,702.76. The LQ-45 index was down 5.20 points at 591.35. Decliners led gainers 121 to 59, with 57 stocks unchanged. Volume was 2.11 billion shares valued at 2.93 trillion rupiah. The Indonesian rupiah was trading at 9,407/9,412 to the US dollar, compared to 9,390/9,400 late Wednesday. "The falls on Wall Street overnight and the rise in the oil price to a record level were the main drivers of the market's fall today," Mandiri Securities analyst Rafdi Prima said. Technically speaking, he said the key index has been consolidating since mid December after going through a strong rally in November.
QQQQ to Nasdaq Composite: See Ya
EVERYONE KNOWS IT'S A MARKET of stocks, not a stock market. But that old saw even holds for traders of index funds, notably those based on the Nasdaq Composite Index and the Nasdaq-100. So far in 2007, the Nasdaq Composite's total return is up 19.09%, while the Nasdaq-100 -- the basis for the popular QQQQ exchange-traded fund, is up 27.74%. The outperformance of the QQQQ is so significant that it has persuaded most options traders and investors to consider less-diversified investment strategies, Credit Suisse derivatives strategists Ed Tom and Glenn DeSouza said in a recent trading advisory. The ETF (now officially called PowerShares QQQ Trust due to a licensing marketing agreement) consists of only the top 100 Nasdaq nonfinancial stocks. The Nasdaq Composite (IXIC) consists of all the listed Nasdaq stocks, which now totals about 3,000 companies.
Ford stock plummets to 22-year low
SOUTHFIELD, Mich. - Ford Motor Co. fell to the lowest price since 1986 in New York trading after losing its status as the No. 2 seller of autos in the U.S. for the first time in three-quarters of a century. Ford slid 32 cents, or five per cent, to $6.13 at in New York Stock Exchange composite trading, a day after posting a 12 per cent drop in U.S. sales and forecasting a "challenging" 2008. Toyota Motor Corp., which modeled itself on Ford following the Second World War, has overtaken the Dearborn, Mich.-based automaker on its home turf. The market value of the 104-year-old company founded by Henry Ford has tumbled to $13 billion from $68 billion in 1998, when Ford sold one of every four new vehicles in the U.S. Three restructuring plans at Ford since 2001 have failed to stem 12 years of plunging U.S.
Day Trading Guru David Marsh Launches New Web Site, Offers E-Mini ...
For nearly two decades day trading guru David Marsh has been successfully profiting from the Stock Market. Last month marked the launch of his new web site and E-Mini day trading course The Tick Trader, which he hopes will help newcomers learn from his mistakes. .
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