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Global Investing Roundups Thursday, December 4th, 2008

Dec 4th, 2008 | By William Patalon III | Category: Financial News

EDF Scooping Constellation; Research in Motion Posts Tough 3Q; Legg Mason’s Miller Calls Market Bottom; Cyber Monday Sales Strong; Crude Stocks Drop; New Zealand Fights Recession

  • Research In Motion Ltd.’s (RIMM) third-quarter subscriptions and profit fell short of forecasts, as it simultaneously faces increased competition and recession in its largest market. Profit for the Blackberry maker rose no more than 83 cents a share in the quarter ended Nov. 29, well short of its goal of 97 cents, Bloomberg reported.
  • Legg Mason fund manager Bill Miller said yesterday (Wednesday) that the “bottom has been made” in U.S. equities and that the Federal Reserve should purchase stocks and junk bonds to pull the United States out of the financial crisis Reuters reported. Miller said that all long-term investors believe that stocks today are cheap after acknowledging that his funds “performed far worse than I would’ve predicted we would” this year.
  • Declining imports led to a surprise drop in U.S. crude oil stocks last week, the Energy Information Administration (EIA) said yesterday (Wednesday). Supplies of crude oil fell by 400,000 barrels to 320.4 million barrels in the week to November 28. Crude imports fell 1.46 million barrels per day (bpd), the IEA said.

Source: Global Investing Roundups Thursday, December 4th, 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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