Diamonds and Dogs
the pause that refreshesLOOKS GOOD ON YOU, OR, OTHER PEOPLES MONEY
Over the last several weeks big banks have raised at least $85 billion to bolster their balance sheets. They are selling shares to the public, people like you and I, as fast as they can so that they can look good for Uncle Sam, their newest business partner. With this fund raising, it is interesting to note that insiders, the people that run the banks, have not been buying. With much fanfare, insiders at the major banks were buying their stock in January and February and to their credit, they have managed to double or triple their money in some cases. Now it is the public's turn to buy, and the ones that matter, the insiders, are no place to be found. The financial stock run may be due for a pause that refreshes&
Diamonds and Dogs
Thursday June 4, 2009
Wind River Systems
Intel Corp interested in acquiring Wind River Systems Inc. for an $884 million all-cash deal during Thursdays trading. Wind River shares soared after the announcement as Intel plans to pay $11.50 a share for Wind River, a 44% premium above shares' from Wednesday closing price of $8. This will help the world's largest computer chip maker flourish beyond the PC market. Intel has already been working on expanding its processor and software offering, launching its newly Linux-based operating system call "Moblin," which will create opportunities for new innovations.
Abercrombie and Fitch
Trouble in retail occurred during Thursday's afternoon trading when clothing company Abercrombie & Fitch Co. stocks tumbled. Abercrombie reported that sales plunged 28% in the month of May. This was a 4% steeper decline than what Wall Street analysts expected. Abercrombie financial results for May were far worse than its competitors such as Buckle Inc. and Aeropostale Inc who both experienced double-digit increases. Abercrombie stocks decreased by nearly 12.5%, or $3.97 to $27.73 a share from its previously $31.70 a share.