MarketFoolery: 11.09.2011
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 9 November 2011
⏱️ 17 minutes
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Summary
The financial crisis in Italy escalates. Shares of Blue Nile, GM, and Activision Blizzard tumble on earnings news. And AOL, Microsoft, and Yahoo! team up against Google.
Transcript
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| 0:00.0 | It's Wednesday, November 9th, and this is Market Foolery. |
| 0:05.0 | I'm Chris Helen joining me in studio today for Motley Fool's stock advisor, |
| 0:07.7 | Jason Moser, from Motley Full Hidden Gems, Charlie Travers, and from Motley |
| 0:11.0 | Fool Pro, Jeff Fisher. |
| 0:12.2 | Gentlemen, good to see you. |
| 0:13.4 | Great, Chris. |
| 0:14.2 | We got a big show today. |
| 0:15.3 | We've got GM Activision Blizzard, Blizzard, we've got Microsoft AOL, and Yahoo |
| 0:19.7 | teaming up to take on Google and we have, well, well frankly some bad news for Blue Nile. |
| 0:25.4 | But let's start overseas again. |
| 0:27.7 | Stocks are down as Italy's borrowing costs are going up. Jeff I saw the 10-year bond in Italy now has a yield of nearly 7.5%. |
| 0:37.0 | I'm not a bond guy and even I know that that's trouble. |
| 0:40.0 | What is going on? |
| 0:41.0 | That's trouble. |
| 0:42.0 | The 7% threshold is where Greece, Portugal, and Ireland had to ultimately seek bailouts because |
| 0:47.3 | it becomes too expensive to sell your debt, of course. |
| 0:51.4 | What happened is yesterday, Europe's largest clearinghouse, LCH, increased the margin |
| 0:57.8 | requirements for anyone to hold Italian debt. And so that sent sent, bond prices down, yields soaring very quickly and that's obviously |
| 1:06.5 | has frightened markets quite a bit. What the markets are saying is this is nowhere |
| 1:09.6 | near resolution. Italy has to iron out an austerity program and then pass it and that could be a long time. |
| 1:17.0 | They're trying to get it done by next week, but it could be contentious. |
| 1:20.0 | I'm sure they'll just bang that out. |
... |
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