Turmoil sends US stocks tumbling: related news

Turmoil sends US stocks tumbling

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US open: UK-style bank plan lifts stocks

LONDON (SHARECAST) - Coming off its worst week in three-quarters of a century, Wall Street has opened sharply higher, with a number of crisis stocks leading the way, after a US official confirmed the US Treasury is contemplating a UK-style capital injection for US banks through the purchase of equity.

US STOCKS-Market rallies on Google, energy stocks

NEW YORK, Oct 17 (Reuters) - U.S. stocks surged in volatile trade on Friday after tech bellwether Google Inc (GOOG.O: Quote, Profile, Research, Stock Buzz) posted reassuring results and energy stocks tracked the price of oil higher.

US indicts UBS wealth management head

UBS suffered its biggest blow yet in the US investigation into its offshore banking activities for rich American clients as US authorities said they had indicted Raoul Weil, the Swiss bank’s head of global wealth management. The US Department of Justice indictment also said other senior unnamed UBS’s executives were involved as alleged “unindicted co-conspirators�. Separately, the indictment includes detailed allegations about how other, more junior, managers sought to circumvent US tax rules over a period of years. The DoJ claims Weil used the expression “toxic waste� to refer to the US business because of its acute sensitivity. In a statement Tuesday night, UBS said Weil would relinquish his duties pending resolution of the matter and said the bank was “fully committed� to continuing co-operating with the probe.

US stocks slide to five-year low

US stocks fell for a seventh straight session, with the blue-chip Dow Jones index tumbling below 9,000 points for the first time in five years.

Toys "R"Us to Offer Apple iPod "For the First Time Ever"

The iPod phenomenon shows little signs of abating. A spokesperson from the giant, Wayne, NJ-based toys retailer Toys”R”Us informs us that, beginning this month, it will offer a “wide selection of Apple iPod products in all of its Toys”R”Us stores nationwide for the first time ever.” Those comments refer to the American Toys“R”Us outlets and Web sites only. Although iPods aren’t yet listed on America's Toys"R"Us Web site, they have been available through its U.K. affiliate (www.toysrus.co.uk) for well over a year. There's no word when (or if) iPods might become available in Canada through this retail channel.

ACLU Creates Map of US "Constitution-Free Zone"

trackpick points out a recent ACLU initiative to publicize a recent expansion of authority claimed by the Border Patrol to stop and search individuals up to 100 miles from any US border. They have created a map of what they call the US Constitution-Free Zone. "Using data provided by the US Census Bureau, the ACLU has determined that nearly 2/3 of the entire US population (197.4 million people) live within 100 miles of the US land and coastal borders. The government is assuming extraordinary powers to stop and search individuals within this zone. This is not just about the border: This 'Constitution-Free Zone' includes most of the nation's largest metropolitan areas.'"

BrazAlta Announces Private Placement of US$18.6 Million in BCH Ltd. And Provides a BCH Operational Update

BrazAlta Resources Corp. ("BrazAlta" or the "Corporation") (TSX VENTURE:BRX) is pleased to announce that its oilfield services subsidiary, BCH Ltd. ("BCH"), has completed a non-brokered private placement (the "Financing") of 4,474,999 Common Shares of BCH Ltd. ("BCH Common Shares"), at a price of US$4.163 per BCH Common Share for aggregate gross proceeds of US$18,629,421. BrazAlta Resources Corp. acquired 2,282,249 BCH Common Shares and Allis-Chalmers Energy Inc. ("Allis-Chalmers") acquired 2,192,750 BCH Common Shares in the Financing. BCH intends to use the proceeds from the Financing to pay down intercompany debt to BrazAlta (US$7.4 million), interest to Allis-Chalmers with respect to the previously announced US$40 million subordinated convertible debenture (the "Debenture") (US$3.

US Elections: What direction now for US space exploration?

US CONGRESSMAN Adam Schiff was touring Pakistan in May when NASA's Phoenix spacecraft touched down on Mars. He was struck by the glowing accounts of NASA's triumph that suddenly dominated the Pakistani newspapers. "In a country where there are such deep suspicions about what the US does, there was at least one area where the reaction was uniformly positive," says Schiff, whose district in California includes NASA's Jet Propulsion Laboratory, which built Phoenix. "And it's one area where the US shows that it is capable of doing great things."

How US Schools' Culture Stifles Math Achievement

Zarf writes "I'd like to file a bug report on the US educational system. The New York Times reports on a recent study that shows the US fails to encourage academic talent as a culture.'"There is something about the culture in American society today which doesn't really seem to encourage men or women in mathematics," said Michael Sipser, the head of M.I.T.'s math department. "Sports achievement gets lots of coverage in the media. Academic achievement gets almost none."' While we've suspected that the US might be falling behind academically, this study shows that it is actually due to cultural factors that are devaluing the success of our students. I suspect there's a flaw in the US cultural system that prevents achievement on the academic front as valuable.

Leading Stocks - Vertex Pharmaceuticals Inc, FLIR Systems Inc, Cephalon Inc, Xilinx, Check Point Software Technologies Ltd

Given everything that is going on in the market, I thought it might be interesting to see what stocks are leading this year. As a starting point, I pulled the component stocks for the NASDAQ 100 (NDX) and ran them through a query that gave me the year-to-date returns and a few key pieces of sentiment data. The list below is sorted to show some of the top performing stocks. The names that stood out to me include, Vertex Pharmaceuticals Inc (VRTX), FLIR Systems, Inc. (FLIR), Cephalon, Inc. (CEPH), Xilinx, Inc. (XLNX), and Fastenal Company (FAST). As the spreadsheet points out, these stocks all carry a rather heavy level of short interest. A high level of short interest can lead to the potential for a short squeeze.

Toys "R"Us to Offer Apple iPod "For the First Time Ever"

The iPod phenomenon shows little signs of abating. A spokesperson from the giant, Wayne, NJ-based toys retailer Toys”R”Us informs us that, beginning this month, it will offer a “wide selection of Apple iPod products in all of its Toys”R”Us stores nationwide for the first time ever.” Those comments presumably refer to the American (and possibly, the Canadian) Toys“R”Us outlets and Web sites only. Although iPods aren’t yet listed on either country’s Web sites, they have been available through its U.K. affiliate (www.toysrus.co.uk) for well over a year.

Russia's Soyuz spacecraft carrying US tourist docks with ISS

Russian Soyuz spacecraft TMA-13 carrying US space tourist Richard Garriott has docked with the International Space Station (ISS), RIA Novosti news agency reported today quoting Russia's Mission Control official. The Soyuz TMA-13 craft, which blasted off from the Baikonur space centre in Kazakhstan on Sunday, brought US astronaut Mike Fincke, Russian cosmonaut Yury Lonchakov and US space tourist Garriott to the ISS. Mr Garriott will conduct a variety of scientific experiments during his ten-day stay on the orbiting station. The son of US astronaut Owen Garriott, the sixth space tourist to travel to the ISS made his fortune in online computer games, including the popular Ultima Online. He reportedly paid 30 million dollars for the trip to the ISS.

How Close Were US Presidential Elections?

Mike Sheppard writes "I'm a graduate student in Statistics at Michigan State University and spent some time analyzing past US presidential elections to determine how close they truly were. The mathematical procedures of Linear Programming and 0-1 Integer Programming were used to find the optimal solution to the question: 'What is the smallest number of total votes that need to be switched from one candidate to another, and from which states, to affect the outcome of the election?' Because of the way the popular and electoral votes interact, the outcome of the analysis had some surprising and intriguing results. For example, in 2004, 57,787 votes would have given us President Kerry; and in 2000, 269 votes would have given us President Gore. In all there have been 12 US Presidential elections that were decided by less than a 1% margin; mean

Al Salam Bank-Bahrain reports net profit of US$60.1 million

(MENAFN Press) Al Salam Bank Bahrain announced a net profit of BD22.7 million (US$60.1 million) for the nine month period ended 30 September 2008 registering increase of 30% compared to BD17.4 million (US$46.2 million) for the corresponding period in 2007. The earnings per share for the period were 18.9 fils against 14.5 fils for the corresponding period in 2007. The results represent a quarterly net profit of BD7.4 million (US$19.6 million) for the quarter ended 30 September 2008 compared to BD3.3 million (US$8.8 million), an increase of 120%, in the corresponding quarter in 2007.

US stocks surge on rescue report

Leading US shares have surged, boosted by a report that the US government might announce a new plan that would help tackle the financial crisis.

Stocks rally on Google, energy stocks (Reuters)

NEW YORK (Reuters) - Stocks surged in volatile trade on Friday after tech bellwether Google Inc posted reassuring results and energy stocks tracked the price of oil higher.

Telecom Stocks: Sprint, phone stocks sizzle higher

WASHINGTON (MarketWatch) - Sprint Nextel Corp. soared as much as 25% to lead phone stocks higher in Monday trades. Equipment stocks were mixed.

Chinese online game stocks defensive against financial turmoil

China's US-listed online game companies are believed to receive less negative influence from the global recession, as several of them try to boost their share prices and reassure investors by share repurchase programs. The board of Perfect World Co., Ltd. (PWRD.NASDAQ) Monday approved the company's share repurchase plan to buy back ADSs up to 100 million US dollars from October 2008 to October 2009. Based on the buyback resolution, Morgan Stanley rated it at "Buy".

CHANGING THE WORLDS BANKING LANDSCAPE: US Treasury said to invest in nine major US banks including Citigroup and Bank of America

CHANGING THE WORLD’S BANKING LANDSCAPE: US Treasury said to invest in nine major US banks including Citigroup and Bank of America

BUT WILL IT LAST? US stocks rally most since 1930s on bank plan with Dow gaining 936 points

THE Dow Jones ticker in Times Square displays news about the financial markets in New York on Monday. Stocks rallied worldwide, with the Standard & Poor’s 500 Index rebounding from its worst week since 1933, and oil climbed from a 13-month low after governments in Europe, the US and Asia agreed to support banks. ANDREW HARRER/BLOOMBERG NEWS

Evolva Subsidiary Signs $22.8 Million Antibacterial Contract with US Army Research Office, Builds Out US Operations

Evolva Subsidiary Signs $22.8 Million Antibacterial Contract with US Army Research Office, Builds Out US Operations

Australia Stocks Rise, Banks Pass Less Rate Cut

Stocks in Australia gained after China announced a stimulus package of Rmb 4 trillion. Commodities prices and resource sector stocks gained. Financial stocks declined after RBA noted that only half of recent rate cuts have been passed on to customers by banks.

US gives Iraq $13 million to fix looted museum

The US government has announced a $13 million grant mainly to help refurbish Iraq's National Museum which was looted in the aftermath of the US-led invasion in 2003, US officials said on Monday.

US to inject $125bln into major banks this week: Treasury

Nine major US banks will receive 125 billion US dollars in capital injections this week from the US government, a Treasury official said Monday.

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