Second freeport sold a 13 stake in the copper mine to metal mining for 1 billion in cash. That gives freefort the flexibilitile to unload other assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints owner announced a 4. 4 billion buy back equivalent to 4. 2 of the market cap. Certainly they have money to throw at sprint to stave off the decline in the companys fortunes and bolster the ability to stay competitive versus verizon, at t and tmobile. The common stock jumped but it is about the credit side of the ledge er. I have to get it through to you because the stock market is often smaller than the bond market when it comes to the direction overall of what we are looking at. The oil and gas pipeline business has been sucking and right. When you read that warren buffet bought 26. 53 million shares, a pipeline giant kindermorgan inc. In the open m
Or tweet me jimcramer. After todays tremendous rally with the dow gaining 257 points, s p vaulting 1. 65 and the nasdaq roaring 2. 21 its worth remembering that good things can happen, too. That sums up whats behind this. The first threeday winning streak we have had in 2016. Some of these developments are straightforward but perhaps ephemeral like oil surging to over 30 a barrel. Others are less obvious if you are watching the stock market. A lot happen behind the scenes in the credit markets which is why tonight i want to walk you through the hidden but bullish changes that helped the market regain some mojo after whats been a thoroughly nightmarish year for the bulls. First we have to recognize this market has been plagued by a pair of stressed out stocks, free port mcmoran and chesapeake, the two most visible black holes out there. Chesapeake has 500 million in debt next month. We heard they hired advisers to that bomb setting up a bad chain reaction. Pay it out of cash on hand and
Video taken minutes before eight people were shot and club rayne. Marvin lancaster the third died. No doubt denver fans are waking up with big smiles on their faces this morning. The Denver Broncos beat the Carolina Panthers to win super bowl 50. It is no surprise everything from the game to the halftime show to the crazy commercials are trending all over twitter and facebook. Were taking a deep dive into all of this later this morning. Lets check the weather with meteorologist leigh spann. Especially if you stayed up late, it will be hard to get out of bed this morning with how cold it is 32. Were at freezing in Crystal River in inverness. Close in brooksville. Youre at 33. 33 zephyr hills. Polk county youre in the mid30s. 36 lakeland. Warmer in sarasota at 39 but this is significantly colder even to yesterday morning. Skies are clear. Were behind this cold front bringing in blustery conditions and then there is another one not far on the heels coming through tonight. Enjoy the pretty
Tonight. What a win. The broncos are waking up this morning champions and the celebration still going on at this hour. Right now, yup, look at that crazy. Well show you the parts of the game people are still talking about in reports throughout the morning. Also, the start of the year of the monkey. Chinese and asian communities all over the world are celebrating this morning. At this hour, in beijing. Many are praying for good new year. Welcome to news channel 8 today. Im gayle guyardo. Im gene ramirez. Were glad youre starting the week with us. Lets get right to the chilly temperatures. You want to bundle up the kids school. These temperatures rae shock to your system. 32 in crystal river. 32 in zephyrhills. Around 50 in bradenton. And clear skies now, this is behind the cold front that brought us the blustery wind yesterday. There is another cold front and this is a fast mover. It will be here tonight bringing a few showers and another round of cooler air. So actually, between the tw
Why tonight i want to walk you through the hidden but bullish changes that helped the market regain some mojo after whats been a thoroughly nightmarish year for the bulls. First we have to recognize this market has been plagued by a pair of stressed out stocks, free port mcmoran and chesapeake, the two most visible black holes out there. Chesapeake has 500 million in debt next month. We heard they hired advisers to reorganize and perhaps fall on that bomb setting up a bad chain reaction. Pay it out of cash on hand and the it line. Also committed to paying 1 billion in debt due for next year perhaps out of asset sales. They have high quality assets. Second freeport sold a 13 stake in the copper mine to metal mining for 1 billion in cash. That gives freefort the assets to ruse the 19 billion plus debt load. Second black hole. Momentarily filled. Third positive, the high yield debt market is plagued by the decline in sprint bonds, the telco company. Sprints owner announced a 4. 4 billion