In the News
Some additional economic reports were released today. Consumer prices rose 0.4 percent in August as a 9.1 percent surge in gasoline prices skewed the index higher. The data underscored the Federal Reserve's view that inflation will be contained. A report on industrial production was also released. The report showed output at factories, mines and utilities climbed 0.8 percent last month, exceeding the median estimate of some economists.
The housing market must be still performing well. KB Home (KBH) has resumed building homes in the mid Atlantic region after a hiatus during the market crash. KB said the majority of the new houses it will build in this area will be smaller in size and much less to construct.
Video -- Housing Hope or Hoax?
A number of companies announced acquisitions. Adobe Systems (ADBE) went shopping and purchased Omniture Inc. for $1.8 billion. Now that's what you call one expensive shopping trip. Adobe is hopeful that the purchase will provide a new stream of revenue, but not everyone is convinced .
Adobe Buys Omniture: What Were They Thinking?
The world's biggest beef producer, JBS, is moving into the poultry market. The company has agreed to purchase a controlling stake in bankrupt US poultry producer Pilgrim's Pride. After the acquisition, JBS will become the world's largest meat maker .
Corning Inc. (GLW) said that it has bought all shares of Axygen BioScience Inc. and its subsidiaries from American Capital (ACAS) for about $400 million in cash. American Capital Ltd., whose credit rating was cut to junk status on the company's financial troubles, rallied following the news.
Rumors are swirling that Google (GOOG) may be looking at acquiring TV service Brightcove Inc. If this is true, Google will have a larger platform for providing online video delivery.
When the deal between Chrysler and Fiat finally went though, investors let out a sigh of relief with hopes that the Italian automaker would be able to help the struggling company rebound. It turns out the situation at the recently rescued company is much worst . At least Chrysler has a five-year plan now.
The New York Attorney General's office wants Bank of America's (BAC) board of directors hauled in for questioning surrounding the acquisition of Merrill Lynch. According to reports, Andrew Cuomo has subpoenaed five directors.
Buffett praises BofA's Ken Lewis -- not!
Other Juicy Tidbits
Take another look! The Fed chair's remarks were more pessimistic than headlines suggest.
Could the collapse of Lehman Brothers been avoided if Warren Buffett knew how to check his cell phone voicemail ?
The $4T Rescue You Should Be Grateful For
The whole country lost out when the U.S. economy fell off a cliff a year ago, but who are the 10 with the most egg on their faces or blood on their hands?
Three years after the housing bubble popped, prosecutors have yet to bring a major case tied to the subprime fiasco. What gives ?
What Facebook (and Others) Can Learn from Gmail
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