Living up to its reputation, January was a relatively stable month on Wall Street.
Volatility eased as investors appeared to take in stride the latest developments in the European debt crisis and persistent worries about economic growth.
Regards,
Don
Investigators have determined what happened to nearly all of the customer money that disappeared from MF Global around the time of its bankruptcy last Oct. 31, but have not publicly disclosed their progress, fearing that doing so might cripple efforts to recover the cash and pursue potential wrongdoing, people briefed on the investigation said.
Regards,
Don
LG Electronics Inc., South Korea’s second-largest electronics maker, reported a narrower full-year loss at the parent level, helped by sales of high-end televisions and mobile phones.
The net loss narrowed to 277.9 billion won ($247 million) in the 12 months ended Dec. 31 from a loss of 635.9 billion won a year earlier, Seoul-based LG said in a regulatory filing today. The consolidated full-year net loss, to be released later today, was probably 322.2 billion won, according to the average of 37 analyst estimates compiled by Bloomberg. That compares with 1.28 trillion won the company reported in a January 2011 in a statement.
Regards,
Don
Samsung took a double-hit in its battle against archrival Apple when the European Union announced it would investigate whether it was illegally trying to hinder competitors and Germany blocked sales of some of its tablet computers
Regards,
Don
A report from the International Financing Review cites unnamed “sources close to the deal” as saying that Facebook is trying to raise $5 billion for its initial public offering.
Reports have said that the social network will file the paperwork for its IPO on Wednesday.
Regards,
Don
In what was mostly a slow and steady climb, the Dow Jones industrial average rose 3.4 percent in January and the Standard & Poor’s 500 gained 4.4 percent, the best performances for both indexes to open a year since 1997.
Regards,
Don
Oil traded near the lowest price in more than a week on signs that consumer confidence and demand for fuel is slipping in the U.S., the biggest crude consumer.
Regards,
Don
South Korea’s central bank is considering buying several hundred million dollars worth of Chinese equities and a greater amount of the nation’s bonds to diversify its foreign-exchange reserves.
Regards,
Don
Broadcom Corp. (BRCM), a maker of chips that help mobile devices connect to the Internet, forecast first-quarter sales that may exceed analysts’ estimates amid stronger demand for parts for Apple Inc. (AAPL)’s iPhone.
Regards,
Don
Facebook Inc., the world’s largest social-networking service, chose Morgan Stanley (MS) to take the lead on its planned initial public offering, four people with knowledge of the matter said.
Regards,
Don
Amazon.com Inc. (AMZN), the world’s largest Internet retailer, missed analysts’ fourth-quarter revenue estimates and reported a 57 percent decline in profit, dragged down by shipping costs and the money-losing Kindle Fire.
Regards,
Don
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