Welcome to The Daily Stock Report...brought to you by QualityStocks.Net, performance tracked daily.
I'm Cathy Rankin and for Monday May 14th we're bringing you the latest news from around the markets as well as the top movers to look out for today...
(HEADLINE NEWS)
In Headline News Today...
The major averages finished mixed as concerns about economic growth and trepidation ahead of key inflation data overshadowed more M&A news.
Per usual, investors were again greeted with another wave of M&A news Monday morning.
The biggest news was confirmation that DaimlerChrysler (DCX 83.16 +1.16) finally found a buyer for its struggling Chrysler unit. Cerberus Capital Management agreed to acquire an 80% stake for $7.45 bln.
However, since Chrysler has been on the block for three months and the actual price tag masks a failed $36 bln merger effort between Daimler AG and Chrysler, investors didn't get too worked up about it.
Nevertheless, autos comprised the best-performing S&P industry today. An analyst upgrade of General Motors contributed to the out performance. GM's 3.6% surge accounted for nearly half of the Dow's 20-point advance. It was also reported that rival Ford Motor's founding family is mulling the divestiture of their controlling stake.
Despite the strength in autos, weakness in everything from restaurants and retail to homebuilding prevented the Discretionary sector from finishing higher. Investors also exhibited a sense of caution ahead of Tuesday's Consumer Price Index
Even worse for the bulls was the fact that today's biggest laggards were also among the most influential sectors.
Financials, which carries the heaviest weighting on the S&P 500, paced the way lower. The Fed saying in a survey that U.S. banks dramatically tightened their lending standards over the first three months of 2007 took an intraday toll on the rate-sensitive sector
A JP Morgan strategist downgrading Financials to "Underweight'' also weighed on the influential sector. Briefing.com lowered its rating on Financials to Underweight last month (SMALL CAP)
And now for our Small Cap News... brought to you by Solar Enertech Corp
Solar Enertech Corp. (SOEN.OB) operates as a photovoltaic (PV) solar energy cell manufacturing company. It plans to invest in PV cell research to develop cells to use in its manufacturing processes
Inova Technology announced its partnership with IBM through its recently acquired RFID subsidiary RightTag. IBM has already purchased several RFID readers from RightTag. Right Tag has commenced development of products that will make its RFID products compatible with various RFID solutions provided by IBM
Retail RFID sales will top $4 billion by 2011, according to a report from Frost & Sullivan. The RFID industry should grow to $26.9 billion by 2015 from $1.95 billion in 2005, according to a report by Research and Markets.
MathStar Inc. will sell $25 million common shares in an underwritten public offering. The company expects the offering to close on the offering in mid-June 2007. The shares sold in the offering will be used to cover over-allotments.
MathStar, Inc. is a development stage semiconductor company who engages in the design, development, and marketing of semiconductor integrated circuits or chips.
And that's our newsmakers, Stay tuned right here to Quality Stocks Daily for the latest news from small cap to large cap, and everything in by QualityStocks.Net, where performance is tracked daily.
Thank you for tuning in, I'm Cathy Rankin, Have a great day and we'll see you tomorrow, right here on the daily report.
Please see Disclaimer on site: http://Disclaimer.QualityStocks.net
Loading...
3:16
Why invest to RFID technology right now? - Part 2by KatjaKettunen151 views
anyone want to chat
i cant watch this video 6O
01000000 3 years ago
wow we
buyystocks 4 years ago