Don Wordell News
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Abercrombie & Fitch Co. is more susceptible than ever to a takeover as an activist investor presses for changes amid faltering sales and shifting teen clothing preferences.
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Avon Products Inc.’s board elected former Chief Executive Officer Andrea Jung and nine other directors to a one-year term as the door-to-door cosmetics seller resists a $10 billion takeover bid from Coty Inc.
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Analysts covering the smallest U.S. equities are proving to be the best stock pickers.
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Following the advice of equity analysts may be perilous for your profits.
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Coty Inc. Chairman Bart Becht said two weeks ago it was time for Avon Products Inc. shareholders to persuade the board to accept his company’s $10 billion bid. Several investors have discussed the offer with the board, and their message is clear: Get more money or forget about it.
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Standard & Poor’s 500 Index companies are returning more than ever in earnings compared with their borrowing costs, a signal that takeovers and capital spending will help investors overcome a slowing U.S. economy.
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Stocks rose, with the Standard & Poor’s 500 Index rebounding from its worst drop since August, as jobless claims fell while a retreat in Italian bond yields and the selection of a new Greek premier tempered concern about Europe’s crisis. The euro gained and Treasuries slid.
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U.S. stocks fell, driving the Standard & Poor’s 500 Index to the lowest level of the month, as Federal Reserve Chairman Ben S. Bernanke said he’s not prepared to take immediate action to stimulate the economy.
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The following are the day's top business stories:
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U.S. stocks sank the most since December 2008, while Treasuries rallied and gold surged to a record, as Standard & Poor’s reduction of the nation’s credit rating fueled concern the economic slowdown will worsen. The Dow Jones Industrial Average plunged 634.76 points as approximately $2.5 trillion was erased from global equities.
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