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Lexus vs. Cadillac showdown

Thu, 06 Mar 2008 09:05:05 GMT

Carey Fiertz of Export Risk Management owns two BMWs and says he couldn't see himself in a Cadillac dealership "in a million years." But as Cadillac tries to hoist itself up to the level of BMW, Daimler's Mercedes-Benz, and Toyota's Lexus, this successful entrepreneur represents the very demographic that it yearns to seduce.

Logitech says any Microsoft bid "without sense"

Sun, 09 Mar 2008 07:47:19 GMT

MILAN (Reuters) - Any takeover bid for peripherals maker Logitech International SA by Microsoft Corp would be "an operation without sense", Logitech's chairman was quoted as saying in an Italian newspaper on Sunday.

Deutsche Bank chief investigated

Sun, 09 Mar 2008 03:43:01 GMT

Mugabe approves Zimbabwe nationalization law

Sun, 09 Mar 2008 05:28:13 GMT

HARARE (Reuters) - Zimbabwe's President Robert Mugabe has signed into law a bill giving local owners the right to take majority control of foreign companies, including mines and banks, a government newspaper reported on Sunday.

FBI begins Countrywide criminal inquiry: paper

Sun, 09 Mar 2008 03:31:28 GMT

NEW YORK (Reuters) - The FBI has begun a criminal inquiry into the largest U.S. mortgage lender, Countrywide Financial Corp, for suspected securities fraud as part of investigations into the mortgage crisis, The New York Times reported in Sunday editions.

EU's Barroso says euro cushioning oil price impact

Sat, 08 Mar 2008 18:15:05 GMT

PARIS (Reuters) - Europe has been shielded from the effects of rising oil prices to some extent by the strength of the euro, European Commission President Jose Manuel Barroso told a French newspaper in an interview released on Saturday.

Obama wins Wyoming's Democratic caucuses

Sat, 08 Mar 2008 15:03:54 GMT

WASHINGTON (MarketWatch) -- Sen. Barack Obama won Wyoming's Democratic caucuses on Saturday, U.S. media reported. Eighteen delegates were at stake in Wyoming, a state Obama was expected to win. Before the vote, Obama led Clinton in the delegate count, 1,569 to 1,462, according to The Wall Street Journal's tally. The Democratic candidate will need 2,025 delegates to claim the nomination.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Stocks drop as job data deepens economic woe

Sat, 08 Mar 2008 09:46:43 GMT

NEW YORK (Reuters) - U.S. stocks fell on Friday to close at their lowest level in 19 months after a report showed that employers unexpectedly shed jobs at the steepest rate in nearly five years, standing as confirmation for many investors that the United States is in recession.

Countrywide reportedly under FBI investigation

Sat, 08 Mar 2008 03:09:05 GMT

The FBI has launched an investigation into the lending practices of battered home lender Countrywide Financial Corp., according to a report in The Wall Street Journal. The mortgage company is suspected of widespread fraud, the paper said, which may have contributed to the subprime mortgage crisis that has rocked the U.S. economy.

Banks face "systemic margin call," $325 billion hit: JPM

Sat, 08 Mar 2008 07:23:59 GMT

NEW YORK (Reuters) - Wall Street banks are facing a "systemic margin call" that may deplete banks of $325 billion of capital due to deteriorating subprime U.S. mortgages, JPMorgan Chase & Co , said in a report late on Friday.

Paulson says dollar to reflect strong fundamentals

Fri, 07 Mar 2008 21:07:46 GMT

STANFORD, California (Reuters) - Treasury Secretary Henry Paulson on Friday reiterated his view that a strong dollar was in the U.S. interest and the greenback's value would ultimately reflect strong economic fundamentals.

Chrysler to close California design studio

Fri, 07 Mar 2008 20:06:52 GMT

DETROIT (Reuters) - Chrysler LLC on Friday said it would close a California studio that has helped design some of the automaker's biggest recent hits, including the Chrysler 300 sedan and the revived Dodge Challenger.

Goldman CEO gets $54M in compensation

Fri, 07 Mar 2008 13:27:05 GMT

Yahoo increases bonuses despite weak earnings

Fri, 07 Mar 2008 12:32:02 GMT

Read full story for latest details.

Texas Instruments' CEO pay falls to $10M

Fri, 07 Mar 2008 12:20:02 GMT

Read full story for latest details.

Fed boosts auction size in surprise action

Fri, 07 Mar 2008 17:34:36 GMT

WASHINGTON (Reuters) - The Federal Reserve on Friday announced emergency measures to add $200 billion into the banking system in a bid to ease persistent liquidity strains that are leading to a global credit freeze.

Recession fears rise on more job cuts

Sat, 08 Mar 2008 09:39:36 GMT

WASHINGTON (Reuters) - Employers unexpectedly cut jobs in February at the steepest rate in nearly five years, a second straight month of employment losses that heightened fears the world's largest economy has skidded into recession.

AngioDynamics Flatlines

Lisa LaMotta — Fri, 07 Mar 2008 12:35:32 GMT

Stocks of the medical device maker tumble after missing analyst estimates.

ArcelorMittal's Noble Investment

Ruthie Ackerman — Fri, 07 Mar 2008 13:53:51 GMT

The auto parts supplier announced the world's largest steel manufacturer intends to make a massive investment.

Ambac's Surprisingly Strong Day

Maurna Desmond — Fri, 07 Mar 2008 14:40:00 GMT

Company raises funds with flood of stock, and its stock has a rare great day.

Fed: The Bank That Keeps On Giving

Carl Gutierrez — Fri, 07 Mar 2008 12:30:00 GMT

Central bank expands term auction facilty and offers repos to encourage lending.

MF Global's Rogue Was Small Fry

Carl Gutierrez — Fri, 07 Mar 2008 16:50:00 GMT

Futures broker expects a strong quarter despite $141M loss.

Thornburg Falls Some More

Carl Gutierrez — Fri, 07 Mar 2008 17:05:00 GMT

The mortgage lender's shares decline, but savvy Bill Gross is buying its bonds.

Stocks may fall anew on recession fears

Fri, 07 Mar 2008 16:46:22 GMT

NEW YORK (Reuters) - Stocks could face a further pounding next week as evidence mounts that the economy has entered a recession and problems in the financial sector accelerate.

Boeing may file protest in Air Force tanker bid by next week

Fri, 07 Mar 2008 15:11:42 GMT

SAN FRANCISCO (MarketWatch) -- Boeing Co. said late Friday it may file a protest against the U.S. Air Force's decision to choose a tanker made by Northrop Grumman Corp. and EADS to replace the nation's aging airborne tanker fleet. Boeing's comments come after meeting with Air Force officials Friday for a debriefing on why the company didn't win the multibillion dollar contract. "While we are grateful for the timely debriefing, we left the room with significant concerns about the process in several areas, including program requirements related to capabilities, cost and risk; evaluation of the bids and the ultimate decision," said Mark McGraw, Boeing's KC-767 tanker program manager, in a statement. McGraw also said reports that Northrop-EADS won by a wide margin "could not be more inaccurate." The company will give serious consideration to filing a protest with a decision next week, McGraw said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Fitch cuts WaMu, Wells Fargo, puts Citi, BofA on review

Fri, 07 Mar 2008 15:17:26 GMT

SAN FRANCISCO (MarketWatch) - Fitch cut ratings of several major banks and put a few on Watch Negative for a possible downgrade, citing concerns with consumer lending and home equity in particular, the rating agency said late Friday. It downgraded Washington Mutual Inc.'s long-term issuer default rating to BBB from A- and Wells Fargo's individual rating to A/B from A. At the same time, Fitch placed Bank of America Corp. and Citigroup Inc. on Watch Negative, indicating the possibility of a downgrade in the future.

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MBIA: Fitch ratings process different; coverage limited

Fri, 07 Mar 2008 15:35:11 GMT

SAN FRANCISCO (MarketWatch) - Elaborating on its earlier request to Fitch Ratings to withdraw insurer financial strength ratings on six of its units, MBIA late Friday noted that Fitch's rating process differs from other rating agencies. It also pointed out that Fitch's coverage of the underlying credit quality of transactions that MBIA insures is limited, which could lead to "misinterpretation" in turbulent times. In response, Fitch stated that its analysis is of the highest quality and its understanding of MBIA's municipal and structured exposure is strong. Nonetheless, the rating agency will evaluate its ability to maintain coverage on MBIA over the next few days and make a final announcement.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Gadfly Investor: Audible Offer Falls Short

Maurna Desmond — Fri, 07 Mar 2008 12:20:10 GMT

Red Oaks Fund wants Audible to slow down and rethink the offer on the table.

Legg Mason Gives Fund A Leg Up

Ruthie Ackerman — Fri, 07 Mar 2008 14:00:00 GMT

Asset manager takes $59M charge to bolster SIV-tainted money fund.

Ciena Draws Profits From The Ether(net)

Miriam Marcus — Fri, 07 Mar 2008 16:15:00 GMT

Demand for flexible communications gear lifts profit past projections.

Aries Sets Itself Up For Sale

Ruthie Ackerman — Fri, 07 Mar 2008 12:31:28 GMT

The owner and operator of tankers and container vessels announced its CFO resigned, it may cut its dividend, and its exploring strategic alternatives.

PeopleSupport Can't Outsource Its Pain

Carl Gutierrez — Fri, 07 Mar 2008 11:55:00 GMT

Outsourcer's shares tank on dim outlook for U.S. tech sector.

Stocks hit lowest levels in over a year

Fri, 07 Mar 2008 11:03:04 GMT

Stocks tanked Friday, falling to the worst levels in nearly 18 months after a weak February employment report and more financial sector woes exacerbated recession fears.

PeopleSupport: Outsizer's Outsized Share Loss

Carl Gutierrez — Fri, 07 Mar 2008 11:55:00 GMT

Outsourcer's shares tank on dim outlook for U.S. tech sector.

Economy Chips Away At Nat'l Semi

Melinda Peer — Fri, 07 Mar 2008 15:30:00 GMT

Sales outlook is below expectations.

GM says 8 more plants affected by supplier strike

Fri, 07 Mar 2008 15:39:31 GMT

DETROIT (Reuters) - General Motors Corp said on Friday an additional eight plants would be partly shut down next week as the impact from a strike against a key supplier spread to affect over 37,000 GM hourly workers.

Hume Bank in Missouri closed; FDIC named receiver

Fri, 07 Mar 2008 14:16:53 GMT

SAN FRANCISCO (MarketWatch) -- The Federal Deposit Insurance Corporation said late Friday the Commissioner of Missouri's Division of Finance closed Hume Bank in Hume, Mo., with FDIC named as the receiver. Hume Bank's insured deposits will be assumed by Security Bank, in Rich Hill, Mo. As of Dec. 31, Hume Bank had assets of $18.7 million and total deposits of $13.6 million. Security Bank agreed to assume $12.5 million of the failed bank's insured deposits for a premium of 4.26%, FDIC said.

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Motorola's former head of mobile devices unit Stu Reed quits

Fri, 07 Mar 2008 14:14:56 GMT

SAN FRANCISCO (MarketWatch) - Motorola Inc. late Friday said Stu Reed, formerly president of Motorola's mobile devices business, is resigning, effective immediately. "Mr. Reed and his team launched a number of key initiatives important to the Mobile Devices business that the Company will continue to drive and expand upon," the telecommunication giant said. Reed is the latest in a string of high-profile executives to leave the Schaumburg, Ill.-based company.

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Thornburg's Crumbling

Carl Gutierrez — Fri, 07 Mar 2008 13:46:23 GMT

The mortgage lender is flirting with disaster, nonetheless Bill Gross sees an opportunity.

Pfizer Protects Celebrex Patent From Teva

Lisa LaMotta — Fri, 07 Mar 2008 11:21:02 GMT

The two drug company's continue to battle over the Celebrex patents.

MF Global Says It's Fine

Carl Gutierrez — Fri, 07 Mar 2008 15:00:00 GMT

Futures broker expects a strong quarter despite a rogue trader's $141M loss.

MBIA requests Fitch withdraw insurance finance ratings

Fri, 07 Mar 2008 13:44:56 GMT

SAN FRANCISCO (MarketWatch) -- Bond insurer MBIA Inc. said late Friday it asked Fitch Ratings to withdraw insurer financial strength ratings on six of its units. MBIA wants the rating withdrawn on MBIA Insurance Corp., MBIA Insurance Corp. of Illinois, MBIA UK Insurance Ltd., MBIA Assurance SA, MBIA Mexico SA de CV, and Capital Markets Assurance Corp. MBIA said it asked Fitch to still rate outstanding debt obligations of MBIA Inc. and MBIA Insurance Corp.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Thornburg restates 2007 net loss at $10.94 a share

Fri, 07 Mar 2008 13:31:23 GMT

SAN FRANCISCO (MarketWatch) - Thornburg Mortgage Inc. late Friday restated its 2007 net loss at $1.3 billion, or $10.94 a share, from a loss of $875 million, or $7.48 a share, reported previously, according to a regulatory filing. The restatement was prompted by a $427.8 million charge for the impairment of adjustable-rate mortgage assets that it held at the end of 2007. Thornburg also said it has received default notices for a total of about $130 million from Natixis Securities North America Inc., which is acting as an agent for Natixis Financial Products Inc., ING Financial Markets LLC, and Goldman Sachs & Co.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Fannie Mae names Jacqueline Wagner chief audit executive

Fri, 07 Mar 2008 13:58:38 GMT

SAN FRANCISCO (MarketWatch) - Fannie Mae Friday named Jacqueline Wagner as senior vice president and chief audit executive, the mortgage investor said. In her role, Wagner will prepare and present the annual audit plan to the audit committee of Fannie Mae's board and provide periodic updates on the status and overall operation of the internal audit department. Wagner succeeds Jean Hinrichs.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

AngioDynamics Flat Lines

Lisa LaMotta — Fri, 07 Mar 2008 12:35:32 GMT

Stocks of the medical device maker tumble after missing analyst estimates.

Ambac Churns Out New Shares

Maurna Desmond — Fri, 07 Mar 2008 14:40:00 GMT

Company raises funds with flood of stock.

Noble Gets $50 Million Boost

Ruthie Ackerman — Fri, 07 Mar 2008 13:53:51 GMT

The auto parts suppplier announced the world's largest steel manufacturer intends to make a massive investment.

Legg Mason Pays The Piper

Ruthie Ackerman — Fri, 07 Mar 2008 14:00:00 GMT

Asset manager takes $59M charge to bolster SIV-tainted money fund.

Tanker Firm Aries Up In The Air

Ruthie Ackerman — Fri, 07 Mar 2008 12:31:28 GMT

The owner and operator of tankers and container vessels announced its CFO resigned, it may cut its dividend.

Judge says Delphi can proceed with help from GM

Fri, 07 Mar 2008 14:22:56 GMT

NEW YORK (Reuters) - A U.S. bankruptcy judge on Friday said Delphi Corp can proceed with an exit financing deal that relies heavily on General Motors Corp , a crucial step for the bankrupt auto parts maker.