Stock Market News: Yahoo! (YHOO) Earnings, Toyota (TM) Sales
The big stock market news remains all about earnings this morning. Earnings reports are flowing in, and the stock market anxiously awaits each company’s report. This morning some of the highlights include Yahoo! (YHOO) and Toyota (TM). Also, it is worth noting that bank stocks in Europe are taking a heavy beating.
Yahoo! (YHOO) earnings report
Yahoo! posted pretty good earnings, and is forecast increased growth this year. Microsoft is still holding its ground in terms of its offer to buy the company, despite the optimistic look forward. But this does put Yahoo! in a better position to argue for a higher price from Microsoft in the whole dramatic affair.
Toyota (TM) steals GM’s crown
For years, GM has had the sales leads in terms of global automotive sales. Now, however, Toyota has come along and is stealing the glory. For the most part, strong demand in Europe is driving global sales of Toyota. Additionally, Toyota’s line of hybrid vehicles and fuel efficient cars are appealing in the current atmosphere of record high oil prices.
European banks struggle on the stock market
European banks are still struggling with subprime writedowns. UBS (UBS) and Royal Bank of Scotland (RBS-PL) are both encountering problems on the stock market. Indeed, in Europe, bank stocks are dragging a variety indexes lower.
The US economy and stock market is not the only one to be affects by the subprime lending crisis. Many banks and markets around the world are also being affected. Subprime lending problems are affecting the British housing market, and many banks invested in US subprime mortgage-backed securities. This double hit is affecting European banks more strongly than American banks.
Disclaimer: I am not an investment professional. Nothing in this piece or on this Web site should be construed as investment advice. Before making investment decisions, do your own research and/or consult with an investment professional. All investment comes with the risk of loss.Â
