Rajaratnam Guilty On All Counts
Government wins conviction in insider trading case against Galleon Group hedge fund manager.
Halah Touryalai, Forbes Staff
Government wins conviction in insider trading case against Galleon Group hedge fund manager.
Halah Touryalai, Forbes Staff
Walter Pavlo, Contributor
Eric Savitz, Forbes Staff
Andrew Wilkinson, Contributor
The 400 highest-income Americans reaped a stunning 13.1% of net capital gains reported to the Internal Revenue Service for 2008, a year which ended with the Dow Jones Industrial Average down 33.8%, the S&P 500 index down 38.5% and the NASDAQ composite off 40.5%. read »
Raj Rajaratnam’s defense lawyer was careful not to pick a jury of his peers. None of them had anything to do with Wall Street. Some of the jury members never finished high school and came straight out of the egalitarian NYC jury pool. The hope was the defense could bamboozle them into believing that what Raj did was just in the normal course of business. But for sure, they are honest folks, maybe church goers, who clearly understood right from wrong. They listened to those oh so incriminating[...] read »
Macy's shares are up 7% Wednesday morning after the department store retailer said its third-quarter profit increased to 30 cents per share, from 5 cents a year ago. Strong topline sales, improved credit performance and lower interest expense contributed to the higher performing quarter. The company responded by doubling its quarterly dividend to 10 cents per share, from a previous 5 cents. read »
American International Group (AIG) announced today that it and the US Treasury Department have commenced [...]
While the press will debate whether Microsoft's CEO Steve Ballmer is paying too much in its $8.5 billion cash deal to acquire voice call, chat and video conferencing software company Skype, two popular investment newsletter guru's reiterated their long standing buy recommendations of its stock. read »
Tupperware Brands Corp (TUP - Snapshot Report) just spiked into a new multi-year high after reporting a healthy 6% earnings surprise. With estimates on the rise and a bullish growth projection, this Zacks #1 rank stock is a fresh pick for momentum. read »
Sally Beauty Holdings, Inc. (SBH - Snapshot Report) recently posted its fifth consecutive earnings surprise, thanks to strong same-store-sales growth. read »
The sharp reversal in the crude oil and stock market has weakened the short-term outlook for both markets. read »
Charles Schwab should be peeking over its shoulder, according to ING Direct USA’s chairman and founder Arkadi Kuhlmann. After building ING Direct USA on a low-cost model similar to Schwab’s, Kuhlmann is hoping his company can take the lead. read »
A four day winning streak came to an end on Wall Street today, as stocks fell, following lackluster [...]
