"The only thing that gives me pleasure is to see my dividend coming in." --John D. Rockefeller.
One of the simplest ways for companies to communicate financial well-being and shareholder value is to say "the dividend check is in the mail." Dividends, those cash distributions that many companies pay out regularly to shareholders from earnings, send a clear, powerful message about future prospects and performance. A company's willingness and ability to pay steady dividends over time--and its power to increase them--provide good clues about its fundamentals.
Read more at investopedia.com
Monday, March 5, 2007
Putnam, Citigroup, UBS Unshaken by Global Rout, Say Buy Stocks
The biggest money managers and strategists on Wall Street are standing their ground.
They say the four-year bull market in U.S. stocks will persist even after the Standard & Poor's 500 Index plunged the most since January 2003 last week on concern a slowing economy will hurt corporate profits.
Putnam Investments, which oversees one of the best- performing U.S. equity funds, and BlackRock Inc., the second- largest publicly traded U.S. money manager, say stocks are cheap.
Citigroup Inc. and UBS AG are telling investors to add to their U.S. holdings. All 15 strategists tracked by Bloomberg were sticking with their forecasts as of March 2. The S&P 500 lost 1.1 percent that day, bringing its weekly decline to 4.4 percent.
Read more at Bloomberg.com
They say the four-year bull market in U.S. stocks will persist even after the Standard & Poor's 500 Index plunged the most since January 2003 last week on concern a slowing economy will hurt corporate profits.
Putnam Investments, which oversees one of the best- performing U.S. equity funds, and BlackRock Inc., the second- largest publicly traded U.S. money manager, say stocks are cheap.
Citigroup Inc. and UBS AG are telling investors to add to their U.S. holdings. All 15 strategists tracked by Bloomberg were sticking with their forecasts as of March 2. The S&P 500 lost 1.1 percent that day, bringing its weekly decline to 4.4 percent.
Read more at Bloomberg.com
S.African stocks slide to lowest level in six weeks
South African stocks spiralled down to the lowest levels in six weeks on Monday, hit by a global rout in stocks and tumbling metals prices.
After a one-day respite on Friday when stocks bounced, the bourse got pummelled again on Monday on worries about growth in China and the United States.
"This is just across the board selling. It is not a stock specific story, this is a global equities story. Guys are just like rabbits in the headlights at the moment," Tubby Goodwin at Investec Securities said.
The JSE Top-40 blue chip index slid 2.5 percent to 22,416.21 points, the lowest since January 19, while the broader All-Share index shed 2.51 percent to 24,919.46 points.
The Top-40, which had gained 7.6 percent since the start of the year before the slide began last Tuesday, is now down 0.8 percent.
Read more at Reuters South Africa
After a one-day respite on Friday when stocks bounced, the bourse got pummelled again on Monday on worries about growth in China and the United States.
"This is just across the board selling. It is not a stock specific story, this is a global equities story. Guys are just like rabbits in the headlights at the moment," Tubby Goodwin at Investec Securities said.
The JSE Top-40 blue chip index slid 2.5 percent to 22,416.21 points, the lowest since January 19, while the broader All-Share index shed 2.51 percent to 24,919.46 points.
The Top-40, which had gained 7.6 percent since the start of the year before the slide began last Tuesday, is now down 0.8 percent.
Read more at Reuters South Africa
US stock indexes rise as investors search for bargains
U.S. stocks rose, reversing earlier losses in volatile trading, on Monday as investors viewed last week's sell-off as providing buying opportunities.
The Dow Jones industrial average was up 34.76 points, or 0.29 percent, at 12,148.86. The Standard & Poor's 500 Index
was up 0.87 points, or 0.06 percent, at 1,388.04. The Nasdaq Composite Index was up 2.34 points, or 0.10 percent, at 2,370.34
Read more at Reuters South Africa
The Dow Jones industrial average was up 34.76 points, or 0.29 percent, at 12,148.86. The Standard & Poor's 500 Index
was up 0.87 points, or 0.06 percent, at 1,388.04. The Nasdaq Composite Index was up 2.34 points, or 0.10 percent, at 2,370.34
Read more at Reuters South Africa
Gold plummets as investors flee
Gold tumbled to its lowest in six weeks on Monday as the carnage on equity markets infected sentiment for the precious metal and investors sold to cover their losses, analysts said.
Anglogold Ashanti lost 4.2% and Australia's Newcrest Mining was down 1.5%.
Spot gold was down at $636.20/636.90 an ounce by 11:30 GMT, up from $635.70, the lowest since January 23, but down from $643.10/643.80 late in New York on Friday.
Gold has lost around 7% since hitting a nine-month high of $689 an ounce on February 26.
Read more at FIN24.co.za
Anglogold Ashanti lost 4.2% and Australia's Newcrest Mining was down 1.5%.
Spot gold was down at $636.20/636.90 an ounce by 11:30 GMT, up from $635.70, the lowest since January 23, but down from $643.10/643.80 late in New York on Friday.
Gold has lost around 7% since hitting a nine-month high of $689 an ounce on February 26.
Read more at FIN24.co.za
Oil drops below $60/barrel
Oil prices dropped sharply on Monday, losing nearly $2 a barrel, in a market driven by stock market declines and concerns about the world economy.
"There's a general sort of recoil from risk in the market," said Tobin Gorey, a commodity strategist with the Commonwealth Bank of Australia in Sydney.
Read more at FIN24.co.za
"There's a general sort of recoil from risk in the market," said Tobin Gorey, a commodity strategist with the Commonwealth Bank of Australia in Sydney.
Read more at FIN24.co.za
Rand seen hitting 5-month lows
The rand has taken a pounding from a global markets sell-off over the past week and could slip further as investors continue to flee risky assets.
The unit would likely soften towards R7.80/US$ this week - levels not seen since a plunge in early October last year - with few positives to warrant a rebound, analysts said.
Read more at FIN24.co.za
The unit would likely soften towards R7.80/US$ this week - levels not seen since a plunge in early October last year - with few positives to warrant a rebound, analysts said.
Read more at FIN24.co.za
Top-40 shaves off billions
South Africa's blue-chip Top-40 stock index fell more than 2% on Monday, dragged lower by mining stocks after a sharp sell-off in Asia.
The Top-40 lost 607 points, or 2.64% to 22 382 points by 09:29 after earlier falling as much as 2.67% to 22 377.41 - its lowest level since January 12.
Read more at FIN24.co.za
The Top-40 lost 607 points, or 2.64% to 22 382 points by 09:29 after earlier falling as much as 2.67% to 22 377.41 - its lowest level since January 12.
Read more at FIN24.co.za
Rand plunges below R7.50/$
South Africa's rand shed over 1.60% to four-month lows against the dollar in early Monday trade and was seen giving up more value during the week, weighed down by turmoil in equity markets.
The rand was at R7.5250 against the greenback at 09:00, its weakest level since October 31 last year, down from a close of R7.4085 in New York on Friday.
Read more at FIN24.co.za
The rand was at R7.5250 against the greenback at 09:00, its weakest level since October 31 last year, down from a close of R7.4085 in New York on Friday.
Read more at FIN24.co.za
Gates dumps Microsoft stock
Bill Gates, chairperson and co-founder of Microsoft, sold 4 million shares of the software giant's stock over the last three days of February, bringing his total sales for the month to 20 million, according to filings with the Securities and Exchange Commission.
Gates still owns 917.5 million shares of Microsoft after the share sales, according to the filings. This represents about 9.2% of total diluted shares outstanding as of December 31.
Read more at FIN24.co.za
Gates still owns 917.5 million shares of Microsoft after the share sales, according to the filings. This represents about 9.2% of total diluted shares outstanding as of December 31.
Read more at FIN24.co.za
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