Financial News from Fox Business from 10/1/2009

Ford Motor Company (F) Discussed on Fox Business's Fox Business

Ford Motor Company is in the news. Find out how this impacts F trading on Ockham Research.

Everybody. I'm liz claman. It's the last hour of bell" beginning right now. Let me get you up to speed. Tough road, september auto sales are out and they're separating the strong from the weak. In that latter cartgory, general motors, FORD, chrysler and mercedes all down for the month, versus the same period last year. But FORD doesn't look nearly as bad. Okay, so we have the stock down 2 3/4% to $7.01. Will it go below $7? Their numbers showed a shrinkage of 5% in auto sales compared to general motors down 45%. Coming up this hour, we will break it down in a fox business exclusive with "wall street journal" contributor who is a pulitzer prize winning auto financial journalists. Paul will tell us not only what happens with saturn, that's gone, but what happens to the entire landscape. He's got a new favorite on the auto landscape and he will tell us what that is, what car company he thinks is really poised to do well. Bada binge. A new study says microsoft share of the web search market fell in september since the first time since launching bing four months ago to take on google. Look at microsoft today. Microsoft also removed from one of the conviction lists. You know how it is with the

“… ercedes all down for the month, versus the same period last year. But FORD doesn't look nearly as bad. Okay, so we have the stock down 2 3/4% to $7.01. Will it go below $7? Their numbers showed a shrinkage of 5% in auto sales compared to general motors down 45%. Coming up this hour, we will break it down in a fox business exclusive with "wall street journal" contributor who is a pulitzer prize winning auto financial journalists. Paul will tell us not only what happens with saturn, that's gone, but what happens to the entire landscape. He's got a new favorite on the auto landscape and he will tell us what that is, what car company he thinks is really poised to do well. Bada binge. A new study says microsoft share of the web search market fell in september since the first time since launching bing four months ago to take on google. Look at microsoft today. Microsoft also removed from one of the conviction lists. You know how it is with the …”

Bank of America Corporation (BAC) Discussed on Fox Business's Fox Business

Bank of America Corporation is in the news. Find out how this impacts BAC trading on Ockham Research.

>> drew, rand mortgage, great to see you. Gearing up for final hour of trading. Liz is in place for "countdown to the closing bell." >> liz: you can bet, david, america matters to my guests he led the charge against ken lewis as one of the most vocal BANK OF AMERICA shareholders. With me today as ken lewis announces he's leaving. Now what does jonathan finger think should happen at a place he owns 1.1 million shares. Who should take over? Will he fight the golden we ask him live coming up. Take a long look. This car is soon lost in the saturn on its way out. What happens? What is the big car up and coming now? Pulitzer surprise winner, my exclusive guest coming up.

“… OF AMERICA shareholders. With me today as ken lewis announces he's leaving. Now what does jonathan finger think should happen at a place he owns 1.1 million shares. Who should take over? Will he fight the golden we ask him live coming up. Take a long look. This car is soon lost in the saturn on its way out. What happens? What is the big car up and coming now? Pulitzer surprise winner, my exclusive guest coming up. …”

Accenture PLC (ACN) Discussed on Fox Business's Fox Business

Accenture PLC is in the news. Find out how this impacts ACN trading on Ockham Research.

Improve the productivity. Not having somebody us iffing with their p.C. Is probably where they're going to spend money next year. >> liz: carl, you have names, too, because you just talked about the i.T. Spending space. Among them, asia info. You have sales force.Com, cognizant, ACCENTURE. Why do you like the names? >> they each have different themes but there are digestible themes in technology today. One of them is in china. Hence my positive call in asia info. They are at the early stages of the i.T. Upgrade cycle and it's lifting the tech vendors that serve the chinese enterprises with asia info being one of the primary beneficiaries. Another investibule theme is shift in software away from the cloud. Major player there is sales force.Com. A third investment theme is the shift of the back office to india as a cost cutting exercise. Cognizant is a terrific play >> good to see you both. Another day in the hot seat. >> liz: we'll see if he is getting a warm reception or at least one committee is cooling to his idea.

“… es force.Com, cognizant, ACCENTURE. Why do you like the names? >> they each have different themes but there are digestible themes in technology today. One of them is in china. Hence my positive call in asia info. They are at the early stages of the i.T. Upgrade cycle and it's lifting the tech vendors that serve the chinese enterprises with asia info being one of the primary beneficiaries. Another investibule theme is shift in software away from the cloud. Major player there is sales force.Com. A third investment theme is the shift of the back office to india as a cost cutting exercise. Cognizant is a terrific play >> good to see you both. Another day in the hot seat. >> liz: we'll see if he is getting a warm reception or at least one committee is cooling to his idea. …”

Dell, Incorporated (DELL) Discussed on Fox Business's Fox Business

Dell, Incorporated is in the news. Find out how this impacts DELL trading on Ockham Research.

Managers is take a particular look at particular stocks and try to pick the best from those. I'm not someone to tell you from minute to minute or month to month where the market is going. I can tell you that there are values out there. >> like DELL, we talk about I agree the death of i.T. Spending was announced too early. Companies are spending and they're spending to try to improve the productivity. Not having somebody us iffing with their p.C. Is probably where they're going to spend money next year. >> liz: carl, you have names, too, because you just talked about the i.T. Spending space. Among them, asia info. You have sales force.Com, cognizant, accenture. Why do you like the names? >> they each have different themes but there are digestible themes in technology today. One of them is in china. Hence my positive call in asia info. They are at the early stages of the i.T. Upgrade cycle and

“… lk about I agree the death of i.T. Spending was announced too early. Companies are spending and they're spending to try to improve the productivity. Not having somebody us iffing with their p.C. Is probably where they're going to spend money next year. >> liz: carl, you have names, too, because you just talked about the i.T. Spending space. Among them, asia info. You have sales force.Com, cognizant, accenture. Why do you like the names? >> they each have different themes but there are digestible themes in technology today. One of them is in china. Hence my positive call in asia info. They are at the early stages of the i.T. Upgrade cycle and …”

Bank of America Corporation (BAC) Discussed on Fox Business's Fox Business

Bank of America Corporation is in the news. Find out how this impacts BAC trading on Ockham Research.

Citigroup faces with what they have in city holding. The challenge there is more on again, making sure merryl works and developing the cross section between merrill and BANK OF AMERICA. Getting it moving forward. >> liz: breaking news on this coming now from the partners at the "wall street journal." they say the company is considering hiring a short-term two year ceo for moment who can sit in the position for two years. No decisions yesterday. But while considering internal and exterrible candidates they could -- internal and external candidates they could the ceo in place for short-term contract of two years. What do you think of that? What is the thinking there? >> again, i'm not privy to the thinking but they may see the person as a transitional candidate. While grooming one of the folks inside to become the ceo. That would be an option for them to consider. Questions would come up whether or not it provides the type of longer-term direction the company needs. I have a feeling they're lookkng at various options and that might be one of >> david: let me ask about getting somebody like jamie dimon, someone from the financial community, with the financial -- not the traditional banking type but the more finances services type. Whatted that banker be more suited to what BANK OF AMERICA has become? >> I think jamie will be happy to stay where he is. He's got a good job there and he has a lot of potentials. What we may see is someone who has been a ceo in another financial services firm come in. Person for two years. Maybe longer. But that's -- my sense is they are looking at all the options, weighing them carefully. You had're not going to move quickly on this. They obviously were not prepared and had someone in the wings when lewis decided to retire. It suspect they're not going to rush this. There is no need for them to. They need to make a good that's why I think they will look inside and outside whether that outside is short-term or long-term. >> as you know, many focal shareholders were not happy with ken lewis sitting there. Among them, the guest in the next hour, jonathan finger,

“… rom the partners at the "wall street journal." they say the company is considering hiring a short-term two year ceo for moment who can sit in the position for two years. No decisions yesterday. But while considering internal and exterrible candidates they could -- internal and external candidates they could the ceo in place for short-term contract of two years. What do you think of that? What is the thinking there? >> again, i'm not privy to the thinking but they may see the person as a transitional candidate. While grooming one of the folks inside to become the ceo. That would be an option for them to consider. Questions would come up whether or not it provides the type of longer-term direction the company needs. I have a feeling they're lookkng at various options and that might be one of >> david: let me ask about getting somebody like jamie dimon, someone from the financial community, with the financial -- not the traditional banking type but the more finances services type. Whatted that banker be more suited to what BANK OF AMERICA has become? >> I think jamie will be happy to stay where he is. He's got a good job there and he has a lot of potentials. What we may see is someone who has been a ceo in another financial services firm come in. Person for two years. Maybe longer. But that's -- my sense is they are looking at all the options, weighing them carefully. You had're not going to move quickly on this. They obviously were not prepared and had someone in the wings when lewis decided to retire. It suspect they're not going to rush this. There is no need for them to. They need to make a good that's why I think they will look inside and outside whether that outside is short-term or long-term. >> as you know, many focal shareholders were not happy with ken lewis sitting there. Among them, the guest in the next hour, jonathan finger, …”

Bank of America Corporation (BAC) Discussed on Fox Business's Fox Business

Bank of America Corporation is in the news. Find out how this impacts BAC trading on Ockham Research.

>> liz: who will be chosen as the next head of the nation's largest bank? >> david: very good question. Ken lewis stepping down as BANK OF AMERICA ceo after more than 40 years with the company and amid a slew of government probes over the bank's merger with merrill joining us now from d.C. With his reaction to this, banking expert burt ely. President of ely and company. Burt, great to see you. Thank you for being here. The question of the moment, of course, probably insignificant to compare to the question of what the next leader has to do but who do you think the next lead her be and what is his first job? >> either they find an inside candidate and there is a pool of talent inside bac to do it, or they will go outside. The important thing is number one to try to have as much of a break as possible with the past. Marly with regard to legal issues. They have to be resolved but not burdened by them. The key challenge is complete the integration of bank of merrill in BANK OF AMERICA to merge cultures and try to capitalize on the cross selling potentials between

“… th merrill joining us now from d.C. With his reaction to this, banking expert burt ely. President of ely and company. Burt, great to see you. Thank you for being here. The question of the moment, of course, probably insignificant to compare to the question of what the next leader has to do but who do you think the next lead her be and what is his first job? >> either they find an inside candidate and there is a pool of talent inside bac to do it, or they will go outside. The important thing is number one to try to have as much of a break as possible with the past. Marly with regard to legal issues. They have to be resolved but not burdened by them. The key challenge is complete the integration of bank of merrill in BANK OF AMERICA to merge cultures and try to capitalize on the cross selling potentials between …”

Ford Motor Company (F) Discussed on Fox Business's Fox Business

Ford Motor Company is in the news. Find out how this impacts F trading on Ockham Research.

Cash for clunkers in the an end. The latest sales data show that americans held back on upgrade after that program >> taking a look at the number, g.M. With a 45-pint slide. FORD with 1% slide. Chrysler down 42%. >> liz: saturn was down 83%. This sales data comes on the news that g.M. Will pull the plug on the saturn brand after a deal with penske group fell through. That decision put 13,000 jobs and hundreds of dealerships in jeopardy. For more, we bring in joe demashio, executive editor at "automobile" magazine. We say the death of saturn. It sounds like a done deal, >> I say it's completely if roger penske couldn't pull it off, no one will pull it off unfortunately. >> why did it fail? Can we blame renault or somebody else, or just that saturn never made money in 19 years of existence. >> simply a business transaction between renault he obviously needed cars from them at a certain price to sell them here for certain

“… ta comes on the news that g.M. Will pull the plug on the saturn brand after a deal with penske group fell through. That decision put 13,000 jobs and hundreds of dealerships in jeopardy. For more, we bring in joe demashio, executive editor at "automobile" magazine. We say the death of saturn. It sounds like a done deal, >> I say it's completely if roger penske couldn't pull it off, no one will pull it off unfortunately. >> why did it fail? Can we blame renault or somebody else, or just that saturn never made money in 19 years of existence. >> simply a business transaction between renault he obviously needed cars from them at a certain price to sell them here for certain …”

Bank of America Corporation (BAC) Discussed on Fox Business's Fox Business

Bank of America Corporation is in the news. Find out how this impacts BAC trading on Ockham Research.

But you had dick bove say earlier on fox business it's a negative blow to the company. However, they're positioned and they're strong buy because they're positioned in credit card, insurance, mortgages to deposit thinking good stuff of BANK OF AMERICA for the long term. All the major averages to the ual raising -- many of the companies are saying that they're selling at least 19 million shares of common stock. 175. Also in debt as well. So you can see the transports are under pressure, despite sometimes they move higher. Great to talk about that is phil flynn. >> yesterday, people were running over everybody, pushing themselves out of the couldn't wait to get in they wanted to buy gold, silver, they wanted to what a difference a day makes! You know, I think a lot had to do with today's economic data. I mean yesterday, the biggest concern I think was the manufacturering sector. Yesterday we shot terrible chicago purchasing manager number and that led everyone to believe u.S. Was out of

“… the long term. All the major averages to the ual raising -- many of the companies are saying that they're selling at least 19 million shares of common stock. 175. Also in debt as well. So you can see the transports are under pressure, despite sometimes they move higher. Great to talk about that is phil flynn. >> yesterday, people were running over everybody, pushing themselves out of the couldn't wait to get in they wanted to buy gold, silver, they wanted to what a difference a day makes! You know, I think a lot had to do with today's economic data. I mean yesterday, the biggest concern I think was the manufacturering sector. Yesterday we shot terrible chicago purchasing manager number and that led everyone to believe u.S. Was out of …”

Comcast Corporation (CMCSA) Discussed on Fox Business's Fox Business

Comcast Corporation is in the news. Find out how this impacts CMCSA trading on Ockham Research.

Down nearly 2%. Much of the same. Look at the stellar month september ended up being. Even when we dropped at the end of the week, only down that's not much in the current environment we're in. That being said, talk about the news, right? Start off with COMCAST and general electric discussing the deal in which COMCAST would take control of 51% of nbc universal venture. This would have general electric retaining a 49% in this stake. Traders say it sounds good to they love this stuff. They love joint ventures and deals. This is the kind of thing they love to talk about. For now, you can see, COMCAST stocks not reacting too nicely to this news. Down nearly 7%. While g.E., our dow come poebt, -- component down 2%. Banking index you should across many sectors to the the pressure is on the market, on the first trading day of october. Ken lewis resignation, going to leave at the end of the year. Frayeders not surprised. Not that surprised at the but you had dick bove say earlier on fox business it's a negative blow to the company. However, they're positioned and they're strong buy because they're positioned in credit card, insurance, mortgages to deposit thinking good stuff of bank of america for the long term. All the major averages to the ual raising -- many of the companies are saying that

“… OMCAST and general electric discussing the deal in which COMCAST would take control of 51% of nbc universal venture. This would have general electric retaining a 49% in this stake. Traders say it sounds good to they love this stuff. They love joint ventures and deals. This is the kind of thing they love to talk about. For now, you can see, COMCAST stocks not reacting too nicely to this news. Down nearly 7%. While g.E., our dow come poebt, -- component down 2%. Banking index you should across many sectors to the the pressure is on the market, on the first trading day of october. Ken lewis resignation, going to leave at the end of the year. Frayeders not surprised. Not that surprised at the but you had dick bove say earlier on fox business it's a negative blow to the company. However, they're positioned and they're strong buy because they're positioned in credit card, insurance, mortgages to deposit thinking good stuff of bank of america for the long term. All the major averages to the ual raising -- many of the companies are saying that …”

General Electric Company (GE) Discussed on Fox Business's Fox Business

General Electric Company is in the news. Find out how this impacts GE trading on Ockham Research.

Down nearly 2%. Much of the same. Look at the stellar month september ended up being. Even when we dropped at the end of the week, only down that's not much in the current environment we're in. That being said, talk about the news, right? Start off with comcast and GENERAL ELECTRIC discussing the deal in which comcast would take control of 51% of nbc universal venture. This would have GENERAL ELECTRIC retaining a 49% in this stake. Traders say it sounds good to they love this stuff. They love joint ventures and deals. This is the kind of thing they love to talk about. For now, you can see, comcast stocks not reacting too nicely to this news. Down nearly 7%. While g.E., our dow come poebt, -- component down 2%. Banking index you should across many sectors to the the pressure is on the market, on the first trading day of october. Ken lewis resignation, going to leave at the end of the year. Frayeders not surprised. Not that surprised at the but you had dick bove say earlier on fox business it's a negative blow to the company. However, they're positioned

“… omcast and GENERAL ELECTRIC discussing the deal in which comcast would take control of 51% of nbc universal venture. This would have GENERAL ELECTRIC retaining a 49% in this stake. Traders say it sounds good to they love this stuff. They love joint ventures and deals. This is the kind of thing they love to talk about. For now, you can see, comcast stocks not reacting too nicely to this news. Down nearly 7%. While g.E., our dow come poebt, -- component down 2%. Banking index you should across many sectors to the the pressure is on the market, on the first trading day of october. Ken lewis resignation, going to leave at the end of the year. Frayeders not surprised. Not that surprised at the but you had dick bove say earlier on fox business it's a negative blow to the company. However, they're positioned …”