Profit Concern Causes Amazon Share Drops

Wednesday shares of Amazon.com Inc hit lowest levels since March, slipping 30 cents and moving from $170.25 earlier to closing at $180.21. Mid-October shares were at a record $246.71, 35% up for the year to date. The drop happened on concern that its big spending and aggressive pricing will gain well come holiday season through 2012. After the record October shares, Amazon introduced the Kindle Fire tablet at $199 which was...

AMR Corporation Making a Way around Bankruptcy

On Tuesday, American Airlines parent company joined those that filed for Chapter 11 bankruptcy. High fuel prices, over $800 million labor costs and competitors winning the airline’s business travelers over caused its defeat. Despite the filed bankruptcy with a cash stockpile of $4.1 billion, the company said buying new aircraft from Boeing and Airbus is still feasible. It may resurface as a tough contender by 2012’s end...

AT&T Prepares for Possible Failure of T-Mobil...

U.S. regulators say AT&T’s takeover of T-Mobile USA would destroy jobs and limit competition down to three. Applications to the DOJ and U.S. Federal Communications Commission are temporarily withdrawn but AT&T and T-Mobile owner Deutsche Telekom said to continue to pursue the sale. AT&T faces a $4 billion charge should the takeover fail and will be a blow to CEO Randall Stephenson who confidently offered a big...

Heavy U.S. and Europe Debts Cause 4th day of Sell-...

The uncertainty over U.S. and Europe debts sapped investor confidence causing a 4th day of weak stocks. Shares of industrial and energy fell with volumes lower than average and sparked a sell-off. U.S. congressional committee co-chairs said there is still a failure to reach deficit-reducing deals. KeyBanc Capital Markets’ Kevin Kruszenski said the situation adds to the overall malaise but it is not something unexpected....

Real Estate: Why home prices won’t bottom ou...

The U.S. home market is yet to fully start recovering. Problems continue to pressure it despite ten real estate markets leading the path towards general recovery and stability said the National Association of Realtors. The slow economic recovery resulted to new defaults and foreclosures after 5 continued quarterly drops. October foreclosures went 14% higher from 2nd to 3rd quarter, said Realtytrac. It may not be like the...

BP CEO Dudley Pressured Anew by Failed Deal

In October, BP’s CEO Bob Dudley said it could increase its dividend in February to recover from the Gulf of Mexico oil spill. However, his planned sale of $7 billion stake in an Argentinean unit failed as supposed buyer Bridas (co-owned by China’s CNOOC) terminated the talks. This is Dudley’s second failed multi-billion dollar deal and investors now question if he can indeed make a turnaround for the group. On Monday,...

Obama Faces Convincing Struggles with Weakening G2...

President Barack Obama will meet with Group of 20’s French President Nicolas Sarkozy and Germany’s Angela Merkel on Wednesday at the world economic summit in France. He is expected to be frank about pushing European leaders to end their debt situation but has to tread carefully. After all, the country he runs is faced with fixing its own fiscal problems. This limits his means to interfere with the European crisis which...

Google Results Assuage Ad Market, Costs Worries

Strong advertising sales and cost controls boosted Google Inc’s 3rd quarter results, its profit up by 26%, its revenue by 37%. The damp economic outlook more so in Europe caused advertising growth fears. However, Google’s profit and paid-clicks results brought positive 4th quarter outlook. Macquarie Research analyst Ben Schachter said softness in Western Europe is starting to be seen but it’s being more than made up...