Existing home sales show signs of recovery
WASHINGTON (AP) — The U.S. housing market is finally on the mend after its most far-reaching collapse in 70 years. That could help rebuild consumer confidence and revive the economy.
For the first time in five years, sales of previously occupied homes rose for the third consecutive month in June, while foreclosure sales and the glut [...]
East Asian Economies May Have ‘V-Shaped’ Recovery, ADB Says
July 23 (Bloomberg) — East Asia’s rebound from the global economic crisis may be “V-shaped” and central bankers must retain expansionary monetary policies even as risks to the recovery dissipate, the Asian Development Bank said.
The economies including China, South Korea and Indonesia will probably grow faster than the 3 percent estimated in March, before accelerating [...]
Buy Apple Puts Today as Hedge, Morgan Stanley Says
July 21 (Bloomberg) — Apple Inc. shareholders should buy bearish options in case the iPhone maker gives a “conservative” forecast after the close of trading today, Morgan Stanley said.
Investors should purchase August $145 puts, which were unchanged at $3.75 today, Morgan Stanley derivatives strategist Karl Debahy wrote in a note today before the open of [...]
CIT shareholders should take their money and run
NEW YORK, July 20 (Reuters) – Why did shares of CIT rally as much as 100 percent today? Presumably investors saw headlines with the word “rescue” and thought it made sense to take a flyer. This is foolish.
CIT is highly leveraged and its assets are deeply troubled. Even if CIT is “saved” through a restructuring, [...]
CIT reaches tentative $3 billion deal with bondholders
* CIT reached $3 billion financing deal with bondholders
* CIT hopes to avoid bankruptcy with deal
* Bondholder group includes Pimco
* Deal is part of a larger restructuring plan-source (Adds details on financing)