Dow Jones

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Dow Shocks with 92 Point Gain
Dow Shocks with 92 Point Gain
Jul 30, 2007 3:44 PM CDT

Dow Shocks with 92 Point Gain

But credit worries still lurking

(Newser) - The Dow rebuffed Wall St.'s bearish ambiance today, picking up 92.84 points to close at 13,358.31. One analyst says the weekend calmed jitters that led to a 500 point bloodletting at the end of last week, and a day without any major economic shakeups or earnings...

Murdoch May Cancel Deal Without Votes

News Corp. 'highly unlikely' to buy Dow Jones at current level of support

(Newser) - Rupert Murdoch's News Corp. may balk at a proposed $5B buyout of Wall Street Journal publisher Dow Jones unless more support emerges from the controlling Bancroft family, a spokesman said today. So far the family has promised about 28% of total Dow Jones votes to Murdoch's proposal, but News Corp....

Battling Bancrofts Take Journal Deal Down to Wire

Deadline today on Murdoch's offer

(Newser) - The Bancroft family, which controls the majority of shares in Dow Jones, is so deeply divided over the proposed sale of the Wall Street Journal to Rupert Murdoch that the deal is still too close to call, the Journal reports. A decision on the $5 billion bid is set for...

Major Bancroft Branch to Nix Murdoch Offer

Family trust may force mogul to raise price for Journal

(Newser) - An important faction within the Bancroft family will vote against Rupert Murdoch’s controversial $5 billion deal for Dow Jones, instead demanding a significant increase of his offer. The Denver branch of the family, which owns a crucial 9.1% of Dow Jones voting stock, wants an extra $120 to...

Dow Tumbles Over 300 Points
Dow Tumbles Over 300 Points
Jul 26, 2007 3:27 PM CDT

Dow Tumbles Over 300 Points

Stocks slide on subprime worries, Nasdaq and S&P see huge losses

(Newser) - The Dow Jones lost 2.25% of its value today, after continuing subprime concerns, poorer-than-expected housing numbers, and a dearth of positive earnings reports scared traders off from recent rallies. The index was down 311.50 to 13473.57, though at one point its losses surpassed its worst close this...

Tears for Slain Reporter at Murdoch Meeting

But it would take only a few to deliver the paper into Murdoch's hands

(Newser) - Members of the controlling Bancroft family are at loggerheads over whether to sell the company to Rupert Murdoch, according to its jewel, the Wall Street Journal. At a meeting on Monday, some family members defended the deal while others insisted the move would compromise the storied paper—one family member...

Earnings, Subprimes Sink Stocks
Earnings, Subprimes
Sink Stocks
Jul 24, 2007 3:59 PM CDT

Earnings, Subprimes Sink Stocks

Dow falls 226.47 after lackluster reports, increased negativity

(Newser) - The Dow slid 226.47—nearly 2%—back to 13716.95 today, after mediocre earnings reports helped deflate a giddy mood and remind traders of persistent woes from the subprime sector. American Express reported lower-than-expected second-quarter earnings dampened by higher marketing costs; DuPont also released disappointing numbers.

Bancrofts Mull Murdoch Buyout
Bancrofts Mull Murdoch Buyout
Jul 24, 2007 6:20 AM CDT

Bancrofts Mull Murdoch Buyout

Final decision on offer expected by end of week

(Newser) - The Bancroft family met yesterday in Boston to consider Rupert Murdoch's $5B offer for Dow Jones, but is expected to take at least until Friday to vote on the deal, Reuters reports. Christopher Bancroft, who opposes the sale, showed up sporting a baseball cap with the words "Bite me"...

Merck News Gives Markets Shot in the Arm

Dow rises 92.34 on component's earnings, big oil merger

(Newser) - Stocks rallied across the board today, after a number of major buyouts and earnings reports diverted traders' attentions from the foundering subprime market and an enervated dollar once again. The Dow was up 2.34 to 13943.42 after drug-maker Merck, a major component of the index, reported its best...

Market Backs Off Milestone
Market Backs Off Milestone
Jul 20, 2007 4:04 PM CDT

Market Backs Off Milestone

After flirtation with 14K, reality bites

(Newser) - A week of record highs ended with a thump today as the major markets plummeted after a flurry of disappointing quarterly earnings reports. The Dow, which crested 14,000 yesterday, dropped 149.33 to close at 13,851.08, off more than 1%. The S&P 500, beset by worries...

Low-Key Lawyer to Moderate Dow Buyout

Attorney will mediate Bancrofts sit-down, then tally the votes

(Newser) - One man stands between News Corp. chief Rupert Murdoch and the Dow Jones-controlling Bancroft Family: a reserved, unassuming Boston lawyer named Michael B. Elefante, who has managed most of the Bancrofts' trust accounts for decades. Next week, beginning with Monday's strictly informational meeting, Elefante will mediate the $5B transaction.

Dow Jones Director Quits Over Murdoch Deal

'Journalistic values will suffer'

(Newser) - A German publishing heir resigned from the Dow Jones board of directors yesterday in protest over the board's vote to accept Rupert Murdoch's $5 billion offer to buy the company. In his letter, Dieter von Holtzbrinck said the deal jeopardized the editorial integrity of the Wall Street Journal. "Dow...

Dow Breaks 14,000 Barrier
Dow Breaks 14,000 Barrier
Jul 19, 2007 10:13 PM CDT

Dow Breaks 14,000 Barrier

(Newser) - The stock market swept aside sub-prime anxieties today to surge past the 14,000 mark; the 82.19-point run-up was fueled by strong results from IBM and Exxon Mobil. It was the 32nd record close for the Dow Jones Index this year, and—with just 58 trading days since the...

Dow Jones Director Faces Insider Trading Charges

SEC investigation tied to sale of Wall Street Journal

(Newser) - The Securities and Exchange Commission plans to file civil charges against Dow Jones board director David Li,  in an insider trading case linked to News Corp.'s bid for the company. As a board member, Li has access to inside information, the Wall Street Journal reports. He also has...

How Did the Fox Dow Do Today, Dear?
How Did the
Fox Dow Do Today, Dear?
Jul 18, 2007 6:04 PM CDT

How Did the Fox Dow Do Today, Dear?

Expect to see the Fox brand liberally applied in Murdoch's rein

(Newser) - Get ready for the Fox Dow. If Rupert Murdoch is willing to pay $6B for a company that produced $105M in income last year, he must be seeing hidden opportunities, argues Brett Arends in the street.com. Dow Jones controls the name of the financial index—and if the sale...

Stocks Drop on Fed Chief's Mixed Report

Tech earnings, Bear Stearns, Bernanke send Dow tumbling 53.33

(Newser) - US markets sank today after two Bear Stearns hedge funds were revealed to be worthless and the Fed Chairman expressed concerns about the stability of the economy. Testifying before the House, Ben Bernanke said he expects growth next year, but stressed that the sinking housing market continues to saddle the...

Dow Breaks 14K, Briefly
Dow Breaks 14K, Briefly
Jul 17, 2007 3:56 PM CDT

Dow Breaks 14K, Briefly

Strong earnings, weak inflation boost markets

(Newser) - The Dow shattered the 14,000 mark for the first time in its history today, floating 22 points above the milestone but dipping just before the bell to close at 13,971.55—still a 20.57-point gain. A projection of relatively docile inflation, combined with continued encouraging earnings reports...

Bancrofts Seek to Stymie Murdoch
Bancrofts Seek to Stymie Murdoch
Jul 16, 2007 7:37 AM CDT

Bancrofts Seek to Stymie Murdoch

Two family members try to thwart sale of Dow Jones to tycoon

(Newser) - Two members of the Dow Jones-controlling Bancrofts are making last-ditch efforts to block Rupert Murdoch from buying the Wall Street Journal publisher. Christopher Bancroft is frantically trying to gather the $2.55 billion he'd need to buy 51% of voting shares and block the sale on his own, while his...

Retail Reports Catapult Markets
Retail Reports Catapult Markets
Jul 12, 2007 3:43 PM CDT

Retail Reports Catapult Markets

Dow's 283.86 point gain is biggest in 5 years; Rio Tinto buys Alcan

(Newser) - The Dow soared 283.86 points to 13861.73 today, its largest single-day rally since 2002 and another record close. Traders ignored ongoing bearish rumors from the subprime sector, focusing on better-than-expected June reports from a host of retailers including Wal-Mart, J.C. Penney and American Express.

Rivals Team Up on 11th-Hour Dow Offer

Greenspan, Burkle hatch partial buyout option for W SJ owner

(Newser) - Supermarket billionaire Ron Burkle and former MySpace CEO Brad Greenspan may join forces to make at least a partial bid for the Wall Street Journal's parent company, say sources close to the discussions. The pair met yesterday with members of the Dow Jones board to craft an alternative to Rupert...

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