MasterCard earnings beat estimates, shares jump
* EPS $2.67; Street view $2.43
* Revenue up 2.7 percent; expenses down 13 percent
* Shares rise 7 percent (Adds details, updates stock price)
By Juan Lagorio
NEW YORK, July 30 (Reuters) – MasterCard Inc (MA.N), the world’s second-largest credit card network, reported better-then-expected quarterly earnings Thursday as it raised fees charged to banks and cut expenses, sending [...]
Pimco’s Gross Favors ‘Strong’ Company Bonds, Stocks
July 30 (Bloomberg) — Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co., said investors should favor debt and stocks of “strong” companies, and assets in emerging markets with improving economic growth.
Investors in riskier assets will get “haircuts” because U.S. economic growth will be closer to 3 percent than the [...]
Yahoo, Microsoft Strike Internet-Search Advertising Agreement
July 29 (Bloomberg) — Microsoft Corp. and Yahoo! Inc. agreed to collaborate on Internet search and online advertising, creating a united front to challenge Google Inc.
Under the agreement, Microsoft will get a 10-year license for Yahoo’s “core search technologies,” the companies said today in a statement. Microsoft’s Bing will become the algorithmic search and paid [...]
Goldman’s real estate gambit
Is history repeating itself at Goldman Sachs?
In late 2006, Goldman shrewdly began backing away from the residential mortgage market. With little fanfare, the firm began aggressively hedging its exposure to home loans, in particular mortgages to borrowers with shaky credit histories.
This savvy and somewhat stealthy strategy enabled Goldman to pawn off lots of its soon-to-be [...]
SEC rule on 'naked' short-selling now permanent
WASHINGTON (AP) — Federal regulators on Monday made permanent an emergency rule put in at the height of last fall’s market turmoil that aims to reduce abusive short-selling.
The Securities and Exchange Commission announced that it took the action on the rule targeting so-called “naked” short-selling, which was due to expire Friday.
Short-sellers bet against a stock. [...]