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Global Investing Roundups

Source: http://feeds.feedburner.com/~r/USMoneyMorning/~3/319262668/
Posted on Tuesday, June 24th, 2008 | In Current Market News, Stocks to Watch
Contributed by: Money Morning (http://moneymorning.com) -

Kodak Announces $1 Billion Buyback; Kroger Lowers Prices, Posts Profit; BP Breaks Ground on Wind Farm; Reliance and Dreamworks in Talks; Lukoil Joins Up With Italy’s ERG; Wachovia Brings in Goldman Sachs; Dow Hikes Prices; Yahoo and Microsoft Back in Talks

  • Shares of Eastman Kodak Co. (EK) rose the most in 20 years as it boldly announced it will buyback $1 billion of its stock using a tax refund. The refund comes from an audit of the company’s taxes from 1993 to 1998, Bloomberg reported. The company posted a first-quarter loss in April.
  • Kroger Co. (KR), the largest chain of U.S. grocery stores, beat analysts’ first-quarter earnings by lowering prices on the shelves and offering gasoline discounts, Reuters reported. The Cincinnati-based company Kroger posted a profit of $386 million, or 58 cents per share, compared with a profit of $336.6 million, or 47 cents per share, in the year-earlier quarter.
  • BP PLC (BP) broke ground on a wind farm in Kansas yesterday (Tuesday), The Associated Press reported.  The first phase of the project, located about 60 miles southwest of Wichita, is expected to generate up to 100 megawatts of electricity starting at the end of the year.
  • India’s Reliance Entertainment and is in talks with Hollywood’s DreamWorks Animation SKG (DWA) to raise up to $2 billion for a joint movie venture, according to a recent report by The Associated Press. There are four to five other parties involved in the talks, the AP said, citing sources close to the deal, including Universal Pictures. However, a deal will not be signed anytime in the near future.
  • Wachovia Corp. (WB) has hired Goldman Sachs Group Inc. (GS) to evaluate its risky portfolio of adjustable-rate mortgages that give loan holders several monthly payment options including an interest-only option that increases the balance of the mortgage. Wachovia could be in the market to sell the portfolio, DowJones reported, which could lead to heavy losses for the bank.

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About Money Morning (http://moneymorning.com)
Money Moves the Markets; Money Morning Lets You Move First

We’re in the midst of the greatest investing boom in almost 60 years. And rest assured - this boom is not about to end anytime soon.

You see, the “flattening of the world” continues to spawn new markets worth trillions of dollars; new customers that measure in the billions; an insatiable global demand for basic resources that’s growing exponentially ; and a technological revolution even in the most distant markets on the planet.

The bottom line is this: With U.S. influence slipping, and the dollar declining as well, investors who think too narrowly about this transformation will face years of meager returns. But those who embrace this new global reality can make themselves very wealthy.

# Over the next 25 years, America’s share of the worldwide economic pie will slip from 28% to 24%…

# Even as Asia’s share almost doubles ;which means it will account for a whopping 55% of the global economy by 2030.

The big brokerage firms are making a killing on the global boom. Yet Wall Street reserves the timeliest information - and the best profit opportunities - for its partners or wealthiest clients. And the Securities and Exchange Commission doesn’t help the everyday investor much either. The second sad fact is this: While you can buy any U.S. or Canadian stock you want, the SEC prohibits you from purchasing many of the available international stocks.

The reason: Foreign companies that haven’t registered with the SEC are off-limits to most U.S. individual investors.

Our worldwide research staff includes former investment bankers, international financiers, emerging markets specialists and veteran financial journalists.

Our experts know that certain capital flows essentially act as a “leading indicator” of future profit opportunities. These are opportunities that you won’t be reading or hearing about anywhere else.

Each weekday morning, in a readable style you can digest in just a few minutes, you will reap the benefits of our research and expert experiences. Indeed, Money Morning will bring you: # The latest reports on China, Japan, Emerging Europe, and the other global hot spots where most investor wealth will be created in the months and years to come…

# Reports on companies you’ve likely never heard of - even though they’re poised to sell billions worth of their wares to “new middle class” customers around the world…

# Information on the U.S. companies shrewd enough to cash in on this boom in global;

# The latest developments in banking, interest rates, foreign investment and other global investing topics;

# Advice on how to invest in currencies, precious metals, commodities and energy

# Inside news on the hottest investments, including water, uranium and private equity…

# And news on rules and regulations, financial trends and strategies - and any other “market intelligence” that you will need to become a shrewd-and-successful investor in the greatest global investing boom most of us will ever see.

Money does move markets. But Money Morning lets you move first.

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