5 Things You Need to Know Before the Stock Market Opens
BOSTON (TheStreet) -- Italy's bond auction leads your quick fix of company, market, economic and investing news for Tuesday, Nov. 29.
Tuesday's 5 Biggest Stories
A few weeks ago, Italian bond yields hit 7% and everyone freaked out. Today,
Italian bonds auction off with yields above 7%
and everyone is relieved. Huh?
We've heard this one before:
France may lose its triple-A rating
. Standard & Poor's is mum on the report, though.
Meanwhile, Fitch Ratings comes right out and says the
U.S. rating outlook is cut to negative
.
The story everyone will be talking about today: Former Treasury Secretary
Hank Paulson tipped off hedge funds
that Fannie and Freddie would move into conservatorship.
is reportedly set to launch its IPO in the second quarter of 2012. It will value the social media giant at -- wait for it -- $100 billion.
Quote of the Day
"While the stereotype may be a poor guy down on his luck who wins, the fact of the matter is: Everyone is equal when they play. These guys, they played one buck," Connecticut Lottery Chairman Frank Farricker said of the
three wealth managers in Stamford
who won a $254.2 million Powerball jackpot.
Company News
I hope you traded in your airline miles already:
AMR Corp.
(AMR)
, parent of American Airlines, files for bankruptcy.
Research In Motion
( RIMM) can't beat the iPhone, so instead it'll join it by offering device-management software.
Is a deal for
Yahoo!
(YHOO)
imminent? Several parties are submitting plans for a minority stake.
Speaking of Yahoo!,
Netscape
founder Marc Andreessen could be considering a leadership role as part of a bid for the company.
Bank of America
(BAC) - Get Report
can't do anything right. It's among 10 banks that unlawfully foreclosed on mortgages of about 5,000 active-duty military members.
Markets
Uh-oh. It can't be good when the
European Central Bank
says it failed to "sterilize" its bond program.
More credit-ratings agency fun: Moody's
may
cut European banks. Nothing like certainty to bolster confidence in your investment decision-making.
Citigroup economists are forecasting a
eurozone recession and sovereign debt downgrades
over the next two to three quarters.
MarketWatch
Boy, this Judge Rakoff sure doesn't like the
Securities and Exchange Commission's
deals with banks.
Investment Strategy
Europe won't break up its
big banks
, which is good news for investors.
Why investors should
ignore sharp moves
in the market.
Are there
opportunities in hotel stocks
?
Dragonfly Capital
Odds and Ends
Nomination for Biggest Head Scratcher of 2011:
Maxine Waters
may replace Barney Frank on the House Financial Services Committee.
Have you heard enough about
Jon Corzine's ineptitude
? He reportedly bet $11.5 billion, twice the amount disclosed, on European debt.
The Canada-based band
Metric
is awesome. Here's a song from their most recent, criminally overlooked album.
-- Written by Robert Holmes in Boston
.
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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
