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Global Investing Roundups Thursday, August 7th, 2008

Aug 7th, 2008 | By William Patalon III | Category: International Investing

Freddie Mac’s Grim Quarter; Sprint Swings to 2Q Loss; Time Warner Could Dump AOL; Lonmin Rejects Xstrata Offer; Ambac Posts Record Net Profit; Playboy Stripped of Earnings; Oil Prices Continue Slide

  • Sprint Nextel Corp. (S) reported a $344 million loss yesterday (Wednesday), compared with a profit of $19 million a year ago. Revenue fell 11% to $9.06 billion. Sprint ended the quarter with just under 52 million customers, down from 54 million customers a year ago.
  • Oil prices fell below $118 a barrel yesterday (Wednesday) - $30 below their July 11 high. Light, sweet crude for September delivery settled 59 cents lower at $118.58 a barrel, after earlier falling as low as $117.11.

Source: Global Investing Roundups Thursday, August 7th, 2008


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By William Patalon III

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William Patalon IIIWilliam (Bill) Patalon III is the Managing Editor and Senior Research Analyst for Money Morning, and is also the Managing Editor for The Money Map Report. Patalon's work has appeared in Kiplinger's personal finance magazine, USA Today, and The South China Morning Post, among other publications.

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Money Morning is the leading source of investment research on the global markets. Its free daily service provides news, research, investment opportunities and insights on international investing -- most of it well before it appears in the mainstream financial media.

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