Word: walles
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...pictures of TIME's Wall Street covers
...average. As concerns about the fate of the newspaper industry mounted, Gannett's shares plunged from over $9 in mid-January to $1.85 in mid-March. Two weeks ago, Ariel Investments announced that it had increased its investment in Gannett from 4.8% of the company to 12.5%. That puzzled Wall St because of the bleak future the industry faces. The news about Ariel caused the stock to rally from $2.69 to $4.06 in four days, which probably pushed a number of short sellers out. Weak earnings knocked the stock back down to $3.09 giving those gambling against the firm some...
...Microsoft (MSFT), the most shorted large tech company traded on any U.S. exchange, is a nearly ideal way to bet against software. It has dominant global market share in PC, server, and enterprise products used by large companies and governments. Microsoft is no longer considered a growth stock by Wall St., but it remains one of the most impressive corporate cash flow machines in the world. Microsoft's ongoing battle with Google (GOOG) over search and desktop software keeps it in the headlines regularly, and its quest to get control of Yahoo!'s (YHOO) search engine operation has gone...
...less than 40% of a bond's original face value. GM's chief executive Fritz Henderson described the terms of the offer as "stern." For the swap to take place 90% of the bondholders must accept the offer. If that percentage is not met, GM will file bankruptcy. Many Wall Streeters believe the prospects for such a major swap of GM stock for debt are dubious since bondholders expect to fare better in bankruptcy. Some bondholders are said to have positioned themselves for a bankruptcy filing by buying credit default swaps, which would pay off if GM filed for Chapter...
...Early today, Facebook announced it was opening up the "stream" - the real-time feed of members' status updates, wall posts and such - to outside developers. Developers can now create new programs that mashup and remix those core data, making the information more useful and fun for members. For instance, say you were a developer, you could build "Facebook dials," as a way for members to dial in which Facebook friends they're interested in - bucketing for later perusal status updates and so forth from the key people in their life - and dial down the ones who aren't. (Read "Facebook...