“Warren Buffett’s Berkshire Hathaway has agreed to purchase 63 daily and weekly newspapers owned by Media General for $142 million, including titles in Virginia, North Carolina, South Carolina and Alabama.
Separately, Berkshire took a 19.9 percent stake in parent company Media General under an agreement to provide the firm with a $400 million term loan and a $45 million revolving credit line.”
Comments »Continuing claims: Prior 3250k, Market expects 3250k, Actual 3265k
Comments »Remember when the story broke the losses were only $2 billion, but could rise; well they have risen to $3 billion and it has been estimated that losses could top out at $8 billion.
Comments »$WMT experienced more foot traffic as prices were lowered during the q. The company earned $1.09 per share vs estimates of $1.04
Comments »Experiencing the Asian financial crisis first hand, Governor Aziz states the worst case scenario would be a crisis similar to the Asian Contagion on the 90s.
Comments »The Aussie and Kiwi dollars see a dead cat bounce.
The Euro has broken through 1.28 and is hovering above a key support level that could open the door to 1.16ish.
Comments »Bankia was nationalized last week, but depositors have withdrew over a billion Euros in a classic style bank run. It is being reported that the Spanish government has tried to calm markets, but it appears that the effort is futile and other banks are beginning to see panic.
Comments »“Oil traded near its lowest settlement in six months as the European Central Bank suspended lending to some Greek institutions, fanning concern that the region’s debt crisis will hurt fuel demand.
West Texas Intermediate pared an advance of as much as 1 percent, and Brent traded below $110 for a barrel. The Frankfurt-based ECB said yesterday it will push the responsibility for lending to some Greek financial institutions onto the country’s central bank until they have sufficiently boosted their capital. Oil had gained as Enbridge Inc. (ENB) and Enterprise Products Partners LP (EPD) prepared to reverse flows on their Seaway pipeline, relieving a supply build-up at the main U.S. storage site in Cushing, Oklahoma.”
Comments »The finance ministers of Spain have tried in vain to quell rumors of Spanish bank runs. As a result European markets are down and Spanish yields are blowing out.
Comments »Here were today’s hybrid movers courtesy of The PPT. I’ve imported the tickers in finviz for your viewing pleasure, click here for charts.
Comments »Although you’ve already made up your mind, Weidner gives you 10 reasons why you might want to pause before sending that FB buy order.
Read the article here.
Comments »Ritholtz and Faber are going to be backtesting some interesting re-entry signals. Based on Faber’s and Ritholtz’s track records, their results will likely prove to be of significant value to the system trader who wants to follow a long-term quasi buy-n-hold strategy with a market timing entry and exit. Read exactly what they will be testing here.
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