My two biggest investment positions, Etrade and Yahoo are both up big so far today on further news relating to the possibility of both companies being bought. Etrade is up 6% on the day to $10.60/share, and Yahoo is up 4% to $16.70/share. As I've written about a ridiculously amount of times, I believe both of these companies will receive takeover bids in the next month or so. Over the weekend, it was rumored that Capitol One Financial is taking a look at Etrade (which I don't really see), and Google and a few investment firms were looking at whether or not they might want to buy Yahoo (I don't really see that either). Nonetheless, both stocks are up big today and while I'm not selling any of my Yahoo stock (because I believe a deal is imminent), I am considering selling a small portion of my Etrade investment that I made last week when I purchased shares at $9.27/share..I am only considering doing this because I believe the Etrade acquisition will take more time to evolve.
In other news, economic data out of China showed a slight improvement month over month..this bodes well for other economies around the world as China (and the U.S.) are seen as leading indicators. The heavy machinery company Caterpillar released their earnings earlier today and said that they are seeing a slight pick up in orders and demand for their equipment, which is also a good sign. And, to once again frustrate investors who live outside of Europe, no agreement was reached over the weekend on how to handle the European financial crisis..the German Chancellor Merkel did throw the markets a bone however when she said that she was optimistic that some sort of deal could be reached on Wednesday when members of the EU (European Union) meet. So, as the wise man once said, we shall see...
