Find your next home with Luxist's "Estate of the Day"

AOL Money & Finance

Before the bell: Futures higher; GS, MS, AIG, FNM, YHOO, CSCO ...

More

U.S. stock futures are (finally) higher this morning, reacting to Warren Buffett's investment in Goldman Sachs as a vote of confidence in (what's remaining of )the financial markets. Later this morning, August existing home sales is due out, and it isn't expected to show any recovery or bottom. As a catalyst to this crisis, much worse-than-expected data may cause further market declines. For now, though, it looks like stocks would start on a positive note.

Goldman Sachs Group Inc.
(NYSE: GS) -- Billioner investor Warren Buffett's Berkshire Hathaway Inc. (NYSE: BRK.A) said Tuesday it is investing at least $5 billion in Goldman. The AP reports that "In addition to buying $5 billion in preferred stock, Berkshire also got warrants to buy another $5 billion in Goldman's common stock. Goldman also said late Tuesday it would raise another $2.5 billion in its own public stock offering." Seems Japanese bank Sumitomo Mitsui Financial may also invest between 100 billion and 300 billion yen in Goldman. GS stock is up over 4.5% in pre-market trading. The news gave a boost to Morgan Stanley (NYSE: MS) as well and its stock is also up about 4% in pre-market.

American International Group Inc
. (NYSE: AIG), Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) -- The FBI is investigating these financial institutions for potential fraud. Lehman Brothers Holdings Inc. (OTC: LHEMQ) also is under investigation. The news doesn't seem to affect shares of these companies, though, as AIG stock is up over 3% in pre-market trading, while FNM and FRE shares up over 10%.
AIG also took the $85 billion loan from the N.Y. Fed.


Yahoo Inc. (NASDAQ: YHOO) -- has cleared a path for talks with the AOL unit of Time Warner Inc. (NYSE: TWX) following the new board meeting, the Financial Times reported. However, active deal negotiations are not underway.
Nike Inc. (NYSE: NKE) and Bed Bath & Beyond Inc. (NASDAQ: BBBY) are expected to report quarterly results today.

Cisco Systems Inc. (NASDAQ: CSCO) is "stepping up efforts to link people more productively," according to the Wall Street Journal. It is expected to unveil a slew of products today aimed at business users who want to collaborate on projects. The market for such products is $34 billion according to Cisco, but isn't free of competition, namely Microsoft Corp. (NASDAQ: MSFT), Google Inc. (NASDAQ: GOOG) and International Buisness Machines Corp. (NYSE: IBM).

Apple Inc. (NASDAQ: AAPL) -- the blogosphere hasn't been, and still isn't, happy about Apple's rejection policies in the App Store. While MarketWatch writes that the new T-Mobile phone using Google's Android system isn't a game changer, MacRumors says that the Android Market claims an entirely unrestricted free-for-all model.

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA-223.328,280.74
NASDAQ-49.201,796.52
S&P 500-26.91896.42

Last updated: July 06, 2009: 06:51 AM

BloggingStocks Exclusives

Hot Stocks

DailyFinance Headlines

Latest from BloggingBuyouts

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

WalletPop Headlines