StreetInsider.com's News You Should Know:
1. Countrywide's Angelo Mozilo Charged With Fraud and Insider Trading
Today the SEC charged former Countrywide Financial CEO Angelo Mozilo and two other former executives with securities fraud for deliberately misleading investors about the significant credit risks being taken in efforts to build and maintain the company's market share. Mozilo was additionally charged with insider trading for selling his Countrywide stock based on non-public information for nearly $140 million in profits.CONTINUE READING>>>>
2. Goldman Boosts '09 Crude Oil Forecast to $85, '10 Forecast to $95
With crude oil prices up nearly 29% since the beginning of May, energy analysts at Goldman Sachs raised their price forecast for oil this morning. Goldman now sees crude oil prices ending the year around $85, with the '10 estimate being pushed up to $95. CONTINUE READING>>>>
3. Retail Rundown: May Same Store Sales Figures Seem to Suggest Strength in the Sector is Waning
As today was the first Thursday of the month, retail companies released their sales results for the month of May. The big news related to the same store sales today was that the world's largest retailer, Wal-Mart (NYSE: WMT), did not report monthly sales results. The lack of such a large chunk of the market has prompted many traders to question the validity of such a data point. CONTINUE READING>>>>
4. WSJ's Mossberg Gives Palm Pre (PALM) A Glowing Review
The Wall Street Journal's Walt Mossberg gives the Palm Pre (Nasdaq: PALM) a pretty glowing review.CONTINUE READING>>>>
5. Intel (INTC) To Acquire Wind River (WIND) at $11.50/Share
Intel Corporation (Nasdaq: INTC) has entered into a definitive agreement to acquire Wind River Systems Inc (Nasdaq: WIND ) under which Intel will acquire all outstanding Wind River common stock for $11.50 per share in cash, or approximately $884 million in the aggregate. CONTINUE READING>>>>
6. Trading Radar for 6/5: Agilysys (AGYS), Exide (XIDE), TOP Ships (TOPS) Report; Nonfarm Payrolls, Unemployment Rate Due
The Trading Radar highlights key earnings and economic announcements for tomorrow's trading session : CONTINUE READING>>>>
7. Hedge Fund Ramius LLC and Cowen (COWN) To Merge
Hedge fund Ramius LLC and investment bank Cowen Group, Inc. (Nasdaq: COWN) signed an agreement to combine. CONTINUE READING>>>>
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