Newspaper wrap-up: More subprime woes
Posted Aug 9th 2007 9:15AM by Eric Buscemi
Filed under: Newspapers, Magazines, Toyota Motor Corp. (TM), Campbell Soup (CPB), Chipotle Mexican Grill'A' (CMG), Oracle Corp (ORCL), Housing
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MAJOR PAPERS:
- French bank BNP Paribas' Investment Partners unit is temporarily suspending three of its funds because of a lack of liquidity in the market as a result of the troubled subprime mortgage market, reported the Wall Street Journal (subscription required).
- Toyota Motor Corporation (NYSE: TM) will delay for one or two years its new high mileage hybrids with lithium-ion battery technology due to possible safety problems, reported the Wall Street Journal.
- Campbell Soup Company (NYSE: CPB) is putting its Godiva Chocolatier up for sale, reported the Wall Street Journal.
- Barron's Online's (subscription required) "Weekday Trader" argued that it may be time to take profits in Chipotle Mexican Grill Inc (NYSE: CMG), as the company hit a record high yesterday and trades at an enormous multiple.
- The Financial Times (subscription required) reported that MMC Energy Inc (NASDAQ: MMCE) is not entering the ethanol market as the company does not believe it can be profitable yet.
OTHER PAPERS:
- The U.K. Times reported that Oracle Corporation (NASDAQ: ORCL) president Charles Phillips said a global credit crunch will help Oracle as it will hurt competing private equity firms from raising cheap capital.
Tags: barron's, barrons, bnp paribas, BnpParibas, campbell soup, CampbellSoup, chipotle, cmg, cpb, financial times, FinancialTimes, ft, london times, LondonTimes, mmc energy, mmce, MmcEnergy, mortgage, newspaper, oracle, orcl, paper, periodical, subprime, tm, toyota, uk times, UkTimes, wall street journal, WallStreetJournal, wsj
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