Monday, November 05, 2007

Today's Headlines

- Google Inc.(GOOG) plans to create a mobile-phone operating system and work with 33 companies to build applications that could change how consumers find stores and download files form the Web on the go.
- Dell Inc. agreed to buy EqualLogic for $1.4 billion, expanding into the fastest-growing part of the storage market with its largest acquisition.
- IAC/InterActiveCorp(IACI), whose shares have dropped 20% this year, will split into five publicly traded companies, dismantling a media and Internet conglomerate Barry Diller spent more than a decade assembling.

Wall Street Journal:
- Gramercy Capital, a real-estate finance company, has agreed to buy American Financial Realty Trust, a real-estate investment trust that specializes in properties leased by financial institutions, for about $1.1 billion in cash and stock.
- Kraft Foods(KFT), the No. 3 US seller of breakfast cereal by sales, is nearing an agreement to sell its Post cereals unit to Ralcorp Holdings for about $2.8 billion.
- Rydex Investments plans to introduce six “leveraged” ETFs that will offer magnified or inverse-magnified returns of major stock benchmarks, with lower expense ratios than a popular family of ETFs from ProFunds Group.
- One of the pioneers in personal-computer plumbing is launching an ambitious campaign to improve laptop functions, including the ability to fire up software in seconds.
- The Easier Rider: Baby Boom Bikers Defect to the Trike.
- Citigroup Inc.(C) former CEO Sanford “Sandy” Weill said he’s not interested in coming back to run the company, although he’s “ready, willing and able and available to do whatever the board needs him to do in helping to right the ship.”
- Copper fell for the sixth straight session, the longest slump since August 2004, on speculation that rising inventories signaled easing demand.
- Crude oil is falling more than $1/bbl. after Kurdish fighters freed eight Turkish soldiers and investment fund speculation in the commodity subsided.

Financial Times:
- MySpace reveals ‘targeted’ ads.

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