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News Corp to Launch Sports Network. Reports say that News Corp. ( NWSA) has plans to launch a new cable sports network in August. The network will initially feature MLB games, NASCAR, soccer and college football and basketball games. Disney’s (DIS) ESPN may have a difficult time keeping -
China Becomes Worlds Large Oil Importer. According to the most recent EIA data China has become the world’s largest oil importer, surpassing the U.S. China's incoming shipments rose to 6.12 million bpd in December, while U.S. imports fell to 5.98 million bpd. This was the lowest level sinc
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Stock Futures Lower on Overseas News. U.S. stock futures are lower on news of weak Chinese and eurozone PMI prints and post-election instability in Italy. Also not helping was that EU unemployment hit a record high of 11.7% in January. Today is also the final day of trading before the $85 b
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JCPenney Shares Drive on Earnings. J.C. Penney's ( JCP) shares are lower in the premarket after the retailer announced Q4 results. JCP's net losses grew almost six-fold to $552 million, losses per share were $0.24 and revenue fell 28.4% to $3.8 billion. Additionally, the company gave
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Markets are closed in observance of President's Day.
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SEC Investigating Heinz Trades. Reports say that the SEC is investigating unusual option trading activity in Heinz ( HNZ). On Tuesday, one day before the announcement that the company is being bought by Berkshire Hathaway (BRK.A / BRK.B) and 3G Capital for $28 billion, or $72.50 a share the
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AB InBev amends Terms of Modelo Deal. AB InBev ( BUD) has amended the terms to acquire the remaining 50% stake in Mexican brewer Modelo. The $20.1 billion deal had some U.S. antitrust concerns. To alleviate these concerns AB InBev said it will sell the Mexican company's Piedras Negras
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Android Phones Dominate iPhone. Google’s (GOOG) Android based phones are widening their dominance over Apple’s (AAPL) iPhone. Technology research company Gartner reports that in Q4 Android smartphones market share rose to 69.7% from 51.3% in 2011, while Apple's iOS declined to 20.9% from
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State of the Union Address. In tonight’s State of the Union Address President Obama is expected to talk about jobs, immigration reform, defense, and energy. With less focus on the social issues outlined during his inaugural address. Wall Street will focus on any statements about added spe
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Obama to Announce New Spending Program. Tomorrow night during President Obama’s State of the Union address the President is expected to lay out a new spending program to help stimulate the lagging economy. The spending program includes investments in infrastructure, manufacturing, clean en
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