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Investing

Overseas Market News (MAY 9, 2007)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
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                                VALUE        CHANGE    % CHANGE
NIKKEI                    17,748.12    91.28            0.52%
Shanghai Comp    4,013.08    63.07             1.60%
Hang Seng             20,844.78    138.43         0.67%
FTSE 100                6,569.50    19.10             0.29%
DAX 30                    7,466.40    24.20              0.33%
CAC 40                    6,043.77    9.52                0.16%

Toyota Motors (TM) posted a 2 Trillion Yen profit in Japan; sees slower growth ahead; stock indicated down 0.55%.

Japan Airlines posted a loss for its fiscal 2006.

Softbank (9984.JP) posted 2006 revenues of 2 Trillion Yen.

Rio Tinto (RTP) trading higher on London speculation that BHP Billiton (BHP) may bid on the company.  Keep in mind this could have antitrust issues on a global basis.

BNP Paribas posted a 25% EPS gaiun in Europe.

Easyjet trading lower despite narrower losses in London.

Alltel (AT) is generating bid interest from several groups according to WSJ. Rumors have been out there on this name already.

China Mobile (CHL) looking for acquisitions in Asia according to WSJ.

General Electric (GE) is being urged to split up the company by shareholders according to WSJ.  This is a short term-bull market play and a bad idea long-term.

Outback Steakhouse (OSI) shareholder vote delayed on merger because of a lack of shareholder vote.  They didn’t offer enough premium is why.

Thomason (TOC) and Reuters (RTRSY) talks now looking like a $17.5 Billion deal according to New York Times.

Jon C. Ogg
May 9, 2007

Jon Ogg can be reached at [email protected]; he does not own securities in any of the companies he covers.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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