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Archive for August, 2012

SAN FRANCISCO Tech stocks scored broad gains in early trading Friday, with data-analytics technology company Splunk Inc. up by more than 16% at $ 35.40 a share, and digital-imaging company OmniVision Technologies Inc. rising more than 7%, to $ 17.03. Both companies reported upbeat quarterly results late Thursday. Gains also came from Apple Inc. , Microsoft Corp. and eBay Inc. . The Nasdaq Composite Index rose more than 17 points to […]

JACKSON HOLE, Wyo. – More asset purchases by the Federal Reserve would be a “mistake” and would not help the real economy, said Glenn Hubbard, the dean of the Columbia University Graduate School of Business and a senior adviser to Republican presidential candidate Mitt Romney. Hubbard told MarketWatch that QE has brought down bond yields but its impact on the real economy remains in doubt. “I don’t think that another 20 basis points on a ten-year yield is what is holding back the U.S. economy,” he said. Hubbard is mentioned as a possible replacement for Fed Chief Ben Bernanke if […]

SAN FRANCISCO Facecbook Inc. saw its price target slashed to $ 15 from $ 25 by BMO Capital on Friday morning. The stock is currently trading down 3.4% to a new low of $ 18.44, as Bank of America-Merrill Lynch also drastically cut its target on the shares to $ 23 from $ 35. In a note to clients, BMO analyst Daniel Salmon pointed to his own checks that indicate weakness in the company’s advertising business, with some advertisers indicating a desire to “pause” in order to reevaluate the platform. “We expect investor attention to return to fundamentals after the […]

In an attempt to reduce the government’s role in housing finance, the nation’s regulator for Fannie Mae and Freddie Mac announced Friday that it is raising the fees that the two government-seized housing giants charge for guaranteeing credit risk. Edward DeMarco, acting director for the Federal Housing Finance Agency, said the agency has directed Fannie Mae and Freddie Mac to raise the guarantee fees it charges on single-family mortgages by an average of 10 basis points. The changes to the guarantee fee pricing “represent a step toward encouraging greater participation in the mortgage market by private firms,” said DeMarco. According […]

Facebook Shares Hit New Low

Facebook (FB) shares plummeted to a new all-time low on Friday as concerns continued to mount about its ad platform and as lock-up expirations over the next year threaten to weigh on the social network’s value and stock. Shares of Mark Zuckerberg’s company fell more than 4% Friday morning to a lifetime low of $ 18.23. The stock has fallen about 52% from its initial public offering on May 18.   BMO Capital Market cut Facebook’s price target to $ 15 from $ 25 on an “underperform” rating Friday morning, citing uncertainty around Facebook’s highly-criticized ad platform as well as […]

Consumer sentiment climbed to a three-month high in August as households made progress paying down debt, but future expectations remained grim, a survey on Friday showed. The Thomson Reuters/University of Michigan’s final reading on overall consumer sentiment this month rose to 74.3, its highest since May and above economists’ expectations of 73.6. In July, the number stood at 72.3. Buying was bolstered by price discounts and low interest rates, the survey found. But the biggest source of optimism was tied to success in trimming debt. “Rather than citing income changes, consumers were more likely to cite favorable shifts in the […]

Car Insurance: When Not to Skimp

Understanding car insurance When shopping for car insurance, the unfamiliar names and functions of major coverage can read like ancient Sanskrit. Collision sounds self-explanatory enough, but what’s up with “comprehensive” and “uninsured/underinsured motorist”? We asked three auto insurance experts to break down the standard policy to help you purchase the coverage you need at a price you can afford. Our auto insurance guide ranks each coverage type by its relative urgency to the consumer by a red, orange or yellow designation. Red is most urgent, and yellow is least urgent. While each is an important tool to cover the legal […]

Berezovsky loses against Abramovich

Businessman and Chelsea Football Club owner Roman Abramovich denied intimidated Berezovsky into selling his oil and gas stakes.Boris Berezovsky, the Russian oligarch and fierce Kremlin critic, has lost his $ 6.5bn lawsuit.Berezovsky claims that Abramovich intimidated him into selling his oil and gas stakes.Justice Gloster’s ruling contained a demolition of Berezovsky’s character as a witness.London (Financial Times) — Boris Berezovsky, the Russian oligarch and fierce Kremlin critic, has lost his $ 6.5bn lawsuit against fellow oligarch Roman Abramovich, the billionaire owner of Chelsea football club, after one of the most expensive court battles ever heard in Britain.Mrs Justice Gloster, who […]

Now that the Supreme Court has upheld the government’s right to require virtually all Americans to have health insurance or face a fine, what might it cost you to forgo coverage when health care reform’s so-called individual mandate kicks in Jan. 1, 2014? Before we do the math, let’s define who will and won’t be affected by the individual mandate. Will you be hit by health care ‘mandate’? “If you’ve got insurance, you’re fine; you keep it. It’s the uninsured who are affected,” says Judy Feder, health policy expert with the Urban Institute, a nonpartisan think tank in Washington, D.C. […]

What’s Still Possible in 2012?

As you’re reading this, we’re heading into the final third of 2012. We’re a long way from those goals or resolutions or wishes expressed last January. So how’s it going? Do you despise me right now for asking? Or are you delighted I’ve given you a chance to pat yourself on the back? Most of us are somewhere in between, I’d venture. Let’s start here. I’m wondering if you know off the top of your head what you said you’d do back in the beginning of the year. If it’s something you’ve been working on, you can probably call it […]

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