Welcome to The Daily Stock Report...brought to you by QualityStocks.Net, performance tracked daily.
I'm Cathy Rankin and for Thursday May 24th 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 S&P 500 was once again poised to closed at a new all-time high, and once again, the market came up short following an afternoon pullback.
Another round of M&A news armed buyers in the early-going with more evidence of the liquidity factor that has contributed to seven consecutive weeks of gains for the blue-chip averages
Speculation about a possible bidding war ensuing for Alcan and perhaps even rival Alcoa kicked things off on an upbeat note. Alcan rejected the Dow component's hostile $27.6 bln takeover offer and, according to a Canadian newspaper, is in merger talks with BHP Billiton.
Another deal worth noting included Crescent Real Estate Equities agreeing to be acquired by Morgan Stanley for about $6.5 bln, which includes debt. Payless ShoeSource, meanwhile, said it will pay $800 mln in cash, or $20.50 per share, for Stride Rite, which represents a 33% premium to Tuesday's closing price
With very little in the way of good earnings news coming out of the retail sector lately, Target beating analysts' Q1 expectations also provided a boost for buyers.
Around 2:00 ET, however, the wind was sucked out of the market's sails when former Fed Chairman Alan Greenspan reportedly said the recent boom in Chinese stocks "is clearly unsustainable."
His warning of a "dramatic contraction at some point" in the Chinese stock market also conjured up images of the last time the Chinese stock market pulled back in "dramatic" fashion.
And now for our Small Cap News... brought to you by Global Resource Corporation (GBRC.PK)
Global Resource Corporation is a development stage company, holds rights to a technology that has various applications to recover energy, such as oil and gas from waste materials
During the next few days The QualityStocks.net Daily will be profiling the companies that will be presenting at the RedChip Small-Cap Investor Conference in San Francisco, California on May 29-30, 2007 in recognition of what we in the Small Cap world feel is a tremendous event to be a part of...
Bootie Beer Corporation announced yesterday that the company has filed an amendment to the Company's Articles of Incorporation to change the Company's name to TMT Capital Corporation. Bootie Beer Corporation will continue to operate as the first operating subsidiary of TMT Capital
Bootie Beer Corporation is a brewer and producer of malt beverage products. The Company selected its brewing venue of La Crosse , Wisconsin due to the unique availability of ultra-pure artesian water that can be drawn from the local wells, resulting in a superior brewing process and product
Vertical Branding, Inc. announced today its first quarter financial results. The company marked its second consecutive quarterly profit, with a net income of approximately $0.5 million, and earnings before interest, tax, depreciation and amortization expenses (``EBITDA'') of approximately $1.3 million.
The company's first quarter consolidated net revenues were $12.8 million, a 166% increase over net revenues of $4.8 million for the same period of the prior year
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.
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5:16GoldSpring CEO - RedChip Lunch Talk San Francis...by Scheqky1,075 views
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