4:20 pm : Bouncing back following two days of broad-based losses, stocks kicked off a new week on a very positive note as encouraging merger news and strong earnings sent short sellers fleeing for cover, clearing the way for bargain hunters to rally back into a market that was showing signs of being oversold.
With stock valuations already at levels that assume slower earnings growth, as weeks of selling pressure have priced in worst-case scenarios and have pushed the P/E multiple on the S&P 500 for operating earnings to a low 14.8, the fact that there was little in the
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General Health Tip
Cut Salad Dressing Calories. All salad dressings are not created equal. If your low-cal, low fat favorites are not on hand when dining out, save calories and fat by ordering the dressing on the side and using it as a dip.
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NATALEE'S UNCLE SAYS 'RE-ARREST DEEPAK!'
Natalee Holloway's uncle is demanding that suspect Deepak Kalpoe be re-arrested in the 10-month-old mystery of the pretty blonde honor student who disappeared in Aruba. Deepak, his brother Satish and Joran van der Sloot were with the Alabama teen, pictured center, when she was last seen leaving a bar on the island in the early hours of May 30. Her uncle Paul Reynolds told The National Enquirer that he believes Deepak, 21, should be the chief suspect instead of van der Sloot, 18. Reynolds also... •STAR JONES CHEATS DEATH AS SHE UNDERGOES PLASTIC SURGERY •A WILD NIGHT OUT FOR JESSE & HIS PARTY PAL LINDSAY
Star Magazine
KATIE HOLMES: FEARING FOR HER TOMKITTEN
Katie Holmes was already worried about the upcoming birth of her baby. According to the tenets of 43-year-old fiancé Tom Cruise's religion, Scientology, she'll have to be silent (not even a moan!) during the delivery, lest the trauma be imprinted in her baby's brain. Plus, a source says, "Only Tom and a few Scientology supporters will be in the room — not Katie's mother!" And Scientology advocates separating the baby from its mother for at least the first 24 hours after birth. Now... •IT'S OVER! KRISTIN CHEATS ON NICK WITH HER EX! •ANGELINA PILOTING HER PLANE AT 7 1/2 MONTHS: IS SHE CRAZY?
3:05 pm PT Earth Biofuels Announces Private Offering of $52.5 Million of Senior Convertible Notes (EBOF) 3.19 -0.22 : �
2:38 pm PT Linn Energy to acquire $416 mln of oil and natural gas properties and expand operations into California and Oklahoma (LINE) 20.95 +0.05 : Co announces that it has signed definitive purchase agreements to acquire certain affiliated entities of Blacksand Energy, located in the Los Angeles Basin, for $291 mln and certain Mid-Continent assets of Kaiser-Francis Oil Company�located in Oklahoma for $125 mln, in each case subject to customary closing adjustments. The�co anticipates both acquisitions will close on or before August 15, 2006 and will be financed with a combination of borrowings under Linn Energy's existing credit facility and a new bridge facility
2:32 pm PT KLA-Tencor delays Q4, FY06 earnings release because of option investigation (KLAC) 39.80 +0.75 : Co had previously disclosed that it was conducting an internal investigation into option grants, announces it will be "unable to provide detailed GAAP or non-GAAP financials for items other than revenue and bookings for the quarter or year ended June 30, 2006. The Special Committee has not yet determined whether any resulting compensation charges or tax implications are material or whether the Company ultimately will restate previously issued financial statements. In addition, the Company will not file its annual report on Form 10-K until after the completion of the investigation. The Company does not expect the investigation to be completed until after the date the Form 10-K is required to be filed".
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