Online Trading News

  In May of 2005 Kerkorian’s company, Tracinda bought aproximatly 5% of (NYSE:GM) for around $31/share.  Before this Tracinda already owned 3.9% of the company and had paid around $26.33/share.  The company announced on Monday that it will sell approximately 2.5% of the company to a private investor for $33/share.  If Kerkorian can sell the rest of the shares at this price he will have made a tiday 13.9% gain on the GM deal, however upon receiving news of the sale the market price of GM dropped to just above $31/share positioning Tracinda to make a very un-Kerkorian gain.  Speculators have seen this as a sign that Kerkorian’s plans for a GM-Nisssan Merger failed and that he planned to sell off his shares for investments that he sees to be more lucrative such as (NYSE:MGM) and possibly other Vegas companies.

Phelps Dogde (NYSE:PD) is currently the world’s second largest copper mining company in the world.  The company taking buying out Phelps is Freeport-McMoRan Copper and Gold (NYSE:FCX), a company which also mines copper as well as gold and silver. The total price of the buyout is $25.9 billion, which will be paid in both stock and cash.  Shares of Phelps increased over 29% in response to the news from the previous close around $95 to todays price which has been trading just above $121.  Copper prices were slightly down today from about $.328 an ounce to todays price around $.324 an ounce.

Jinpan International(Amex:JST) is a company that builds insulation systems for high voltage wires in China. The company is new to US markets but today’s news seemed to hit a high note. Jinpan declared that the company’s 3rd quarter showed a profit of RMB 16.7 million($2.1 million) or $.32 per share. The company’s stock jumped from around $15 this morning to $18 on closing which provided a total increase of over 34%. This is especially exciting news for US investors who have increased their demand for foreign investments since 2001 and have shown increasing interest in infrastructure investments such as energy throughout the previous years.

Evergreen Energy (PACX:EEE) reported a net loss of $17.4 million or $0.22 per share for the 3rd quarter of 2006.  This was a dissapointment to investors and caused Evergreen’s stock to drop over 18% today.  The main reason for Evergreen’s recent losses has been the companies promotion of its K-Fuel(TM) process.  While Traditional coal burning creates toxins and pollutes the air.  Evergreen has used its K-Fuel process to reduce emissions and even remove toxins such as merucury.

Shares of Hudson Highland Group (Nasdaq:HHGP) rose over 28% today after announcing the company’s 3rd quarter results.  The quarter’s profits came in at $4.3 million or $0.17 per share.  This is significantly higher than 2005’s 3rd quarter which showed $1.2 million in profits or $0.05 per share.

Hudson Highland specializes in staffing.  The company finds employees for many specialty positions including executives.  The company also keeps and index, called the Hudson employment index, to measure how confident employees are in the labor markets.  In October this number increased to 101.4, compared with 100.5 a month earlier.  No doubt the increase in the labor market has helped the company find business.