Peter Sorrentino News
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Emerging stocks fell, trimming the longest weekly rally since January, as the yen’s tumble to a four-year low dimmed the outlook for global exporters. South Korea’s won led a selloff in developing-nation currencies.
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U.S. technology stocks, the second- best industry of the past decade, have fallen to the cheapest levels in at least seven years and are vulnerable to more losses as analysts reduce second-quarter profit estimates.
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Gold plunged the most in 33 years amid record-high trading as an unexpected slowdown in China’s economic expansion sparked a commodity selloff from investors concerned that more cash will be needed to cover positions.
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Investors are boosting wagers on higher commodity prices at the fastest pace in almost four years, rebounding from the least bullish position since 2009, on signs that the U.S. is accelerating and Europe’s debt crisis is easing.
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Emerging-market stocks rose for a second day, led by Mexico, amid better-than estimated American economic reports. Brazilian equities rebounded from an eight- month low as exporters followed commodities higher.
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Procter & Gamble Co. would stand to boost the lowest valuations in a decade versus competitors by parting with businesses from batteries to dog food.
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Chesapeake Energy Corp.’s depressed valuation is making the company a potential target for acquirers willing to bet that natural-gas prices will rebound from a decade low.
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Pfizer Inc.’s industry-leading profit margins and disposal of non-drug businesses still haven’t closed the valuation gap with rival drugmakers. No wonder its chief executive officer is contemplating a full breakup.
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Lloyd C. Blankfein , chief executive officer of Goldman Sachs Group Inc. , has sought to quell shareholder concerns about its bonuses and business practices at the past two annual meetings. Today, he will try again.
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Jeffrey Immelt, saying he holds few regrets after leading General Electric Co. in 10 years bracketed by terrorism and a nuclear meltdown, predicts a payoff through 2013 as reinvigorated industrial units expand globally.
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