AlphaNinja - Markets down half a percent in premarket trading. Yahoo (YHOO) and Microsoft (MSFT) agree to a long-awaited 10 year search deal, yet the monetary benefits to Yahoo have some disappointed, sending shares down 7%.
Ours isn't the only car industry suffering, as Russian giant Avtovaz will lay off 27,000
US durable goods orders +1.1% - better than expected...excluding cars and planes.
Op-ed fretting about the dangers of high frequency trading:
"Buying stocks used to be about long-term value, doing your research and finding the company that you thought had good prospects. Maybe it had a product that you liked the look of, or perhaps a solid management team. Increasingly such real value is becoming irrelevant. The contest is now between the machines — and they’re playing games with real businesses and real people. "
After the recent $1billion revenue miss, Microsoft embraces frugality
At least a homebuilding stock is soaring somewhere...(China)
In an interview, Madoff claims the SEC was asleep at the wheel, and at one point thought "they got me"....
...Madoff wasn't even aware that he was being served up on a silver platter, yet still the SEC was too inept to act:
Madoff Whistle Blower