Recent Articles
BHP Billiton Wants To Acquire Top Potash Supplier
Mining giant BHP Billiton Ltd. (NYSE: BHP) made an unsolicited offer to acquire Potash Corp. (NYSE: POT) for $130 a share that the Potash board immediately and unanimously rejected as "grossly inadequate." The offer from BHP valued Potash at approximately $38.6 billion. Not only did Potash reject the offer from BHP billiton, the company's board adopted a "poison pill" rule that prohibits any single investor from acquiring a stake greater than 20% in Potash.
Home Depot, Wal-Mart Earnings Fuel Gains
Home Depot Inc. (NYSE:HD) and Wal-Mart Stores Inc. (NYSE: WMT), two components of the Dow Jones industrials, reported better than expected earnings today but not enough better to overcome questions about the second half of 2010.
LOW, HD Point to DIY Comeback
Earnings and sales from clothing and department stores have been merely okay, and management is reluctant to look ahead with much positive feeling about the consumer spending. This morning's earnings report from Lowe's Companies, Inc. (NYSE:LOW) follows that pattern.
Retail Sales Rise 0.4% in July (DDS, JCP, WMT, HD)
The US Department of Commerce reported that July retail sales rose just 0.4%, mostly as a result of increased auto and gasoline sales.
GM Faces Earnings and CEO Change Into IPO
General Motors Co. has suddenly found itself front and center in the news today. The company, or the government agency, posted its second consecutive quarter of positive earnings this morning for the first time since 2004. Second-quarter profit totaled $1.3 billion, or EPS of $2.55. Revenue totaled $33.2 billion. In the second quarter of 2009, GM lost almost $13 billion on its way to a bankruptcy filing. One could say that things are definitely looking up.
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