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Tuesday, September 23, 2008 7:08:37 PM
NEW YORK (Reuters) - U.S. stock index futures surged in extended trading on Tuesday after Warren Buffett'sBerkshire Hathaway surprised investors with a $5 billion investment in Goldman Sachs Group (GS:$125.05,00$4.27,003.54%) .
Goldman Sachs shares shot up 8.4 percent after the news.
"It's clearly a positive when Warren Buffett sees value in a company. Buffett is so highly regarded as an intelligent value investor, if he's putting a lot of money into a company that's been beaten down, it sends a message to the market that maybe not every financial company should be ignored at this point," said Richard Sichel, chief investment officer of Philadelphia Trust Co.
S&P 500 futures jumped 21 points while Dow Jones industrial average futures soared 160 points. Nasdaq 100 futures rose 21.50 points.
(Reporting by Chris Sanders; Editing by Jan Paschal)
http://www.marketwatch.com/News/Story/St...
Many deals are coming: buyouts, hostile bids, mergers.. These are the stocks with major Upside potential IMO: FRE, FNM, AIG, ETFC, MBI..
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