Big rally on Wall St. Led by Wal-mart and 2 Banks
Stocks surged Tuesday, with the Dow climbing nearly 320 points, after comments from executives at Goldman Sachs and other major banks reassured investors worried about the ongoing fallout from the credit market crisis.
The buy-in began after Wal-Mart gave a more upbeat sales forecast and reported better-than-expected third-quarter earnings.

Chinese retail sales surge 18.1%, CPI at 11-year high

Oil All the Way Below $93 a Barrel
The International Energy Agency on Tuesday sharply reduced its forecast for oil demand growth through the rest of '07 and into '08 saying oil's march towards $100 was already slowing consumption.Oil deepened losses and was down more than $1 a barrel shortly after the IEA report was released. But at just under $94, the price for U.S. crude is not far off an inflation-adjusted high of $101.70 hit in 1980.

Realtors revise home sales forecast lower again
The National Association of Realtors said Tuesday that sales of existing homes in the U.S. are expected to decline to a five-year low this year, and the outlook for 2008 is worsening.


Morgan Stanley sees revenue growth slowing in 2008
Morgan Stanley (MS.N: Quote, Profile, Research) expects revenue and common equity growth to slow next year amid a more challenging environment, the company's chief financial officer said at a conference on Tuesday.

Google DoubleClick Deal
European regulators refused Tuesday to approve Google’s $3.1 billion purchase of the Internet advertising company DoubleClick. They ordered a review of the deal amid opposition from rivals, publishers and consumer groups.


Sirius, XM holders back merger
Shareholders of both XM and Sirius satellite radio voted on Tuesday in favor of a planned $5.1 billion merger of the two rivals that still needs approval by the federal government.

AT&T launches mobile banking with Wachovia, SunTrust
The program will enable customers to view account balances, transfer funds and pay bills from their AT&T (NYSE: T) mobile phones. Wachovia Corp. (NYSE: WB) and SunTrust Banks Inc. (NYSE: STI) have partnered with mobile banking providers Firethorn Holdings LLC and CheckFree Corp. (NASDAQ: CKFR) in order to provide a mobile banking solution for the millions of customers who bank with them.


Murdoch says to give free access to WSJ
Rupert Murdoch says he plans to abolish subscription fees at The Wall Street Journal’s Web site, according to news accounts from Australia. This apparently was news to executives at his company and The Journal, who cautioned that the decision might not be final.

Atari's CEO departs
Atari has announced its CEO David Pierce has resigned and is handing over the company reins to Chief Restructuring Officer Curtis G. Solsvig III on an interim basis. Pierce oversaw the company since September 2006, a time filled with financial woes. Most recently, last week Atari confirmed its financing has run dry.


Citigroup in capital market revamp
Citigroup on Tuesday unveiled a further shake-up of its capital markets operation following last week’s admission that it faces up to $11bn of further writedowns on its exposure to subprime mortgage securities.

KKR hoping to defy tourmoil with IPO
KKR, the US private equity group, on Tuesday offered evidence that it was moving ahead with plans for an initial public offering, in spite of the turmoil in the credit markets.

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This entry was posted by David Choi, on Tuesday, November 13, 2007. You can leave your response.