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Google and AOL in Partnership
Dec 16, 4:56 PM EST |
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| Google is reported to take 5% stake in AOL for $1 B, trumping Microsoft's efforts to get a foothold in the online search space. Oil dropped 3.5%. |
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| Google wants to protect 10% of its revenue, generated by AOL and is reported to be willing to invest $1 billion in AOL unit of Time Warner. Slight fall in third quarter current account deficit failed to excite the market. Near record deficit of $195.8 billion in the quarter was largely caused by deficit in international goods trade. For the year the deficit is likely to reach $780 billion. |
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Lackluster Trading on Expirations
Dec 16, 12:53 PM EST |
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| The deficit in the U.S. current account narrowed in the Q3 to a total of $195.8 billion, down 1% from the deficit in the Q2 quarter of $197.8 billion. |
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| An oil prices decline below $60 a barrel, healthy U.S. economic data and news from GM sent averages higher at the start of Friday session, but the expiration of key options and futures caused volatility to the market. In corporate news, natural gas distributor Southern Union agreed to buy Sid Richardson Energy Services Co. along with a related energy marketing business, for $1.6 billion in cash. |
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Early Rise on Lower Oil
Dec 16, 11:06 AM EST |
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| The deficit in the U.S. current account narrowed in the Q3 to a total of $195.8 billion, down 1% from the deficit in the Q2 quarter of $197.8 billion. |
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| An oil prices decline below $60 a barrel and news from the CEO of General Motors that the company will raise its 2006 revenue sent averages higher at the start of Friday session, but the expiration of key options and futures are likely to cause volatility to the market. Natural gas distributor Southern Union agreed to buy Sid Richardson Energy Services Co. along with a related energy marketing business, for $1.6 billion in cash. |
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Q3 Current Account Deficit Near Record
Dec 16, 9:26 AM EST |
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| Oil prices declined below $60 a barrel on warm weather forecasts. European gold fell, but kept above $500. The dollar dropped vs. major currencies. |
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| The deficit in the U.S. current account narrowed in the third quarter to a total of $195.8 billion, down 1% from the deficit in the April-June quarter of $197.8 billion. Asian benchmarks closed mixed with the Nikkei down 0.5%, falling for a third straight day on profit-taking and weaker dollar. European stocks rose at mid-day on utility stocks. General Motors raised 2006 revenue. Oracle reported 16% increase in Q2 earnings of 19 cents a share on higher revenue, met estimates. |
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