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Sounds kind of dirty, right? Actually, it's because of a clean visual that technical analysts use this term. Technical analysts like charts (hence their nickname of "chartists"), and they like to give certain patterns they see neat little names.
Such is the case with the double bottom, which looks on a chart like, well, a double bottom. Think of three mountains (on a chart reflecting a rise in values) separated by two valleys (representing dips in value). The troughs of the valleys, and the size of the first two peaks, are generally the same, so the chart looks like the letter 'W.' The appearance of those two valleys represents a double bottom.
So what? Well, if you're one of those folks who believes in the power of the charts, seeing a double bottom suggests a long-term trend is about to reverse. So, if a stock chart shows shares falling for several months, then seeing a double bottom, chances are good (according to the chartists) that the shares will rise. And vice versa.
But, beware: charts can be a great tool, but they're more art than science. Use any charts with caution.
Home / Markets / Industries / Retail
Thursday, May 08, 2008
Best Buy to Invest $2B in Carphone Warehouse
FOXBusiness
Best Buy is creating a new company with Carphone Warehouse, the largest cellphone retailer in Europe, according to a report by Dow Jones.
The new company’s assets will include the Carphone Warehouse retail business, which consists of 2,400 stores throughout nine countries in Europe and the United States, as well as web business, insurance operations and airtime reselling. Best Buy will offer a $2.15 billion cash payment to Carphone Warehouse in exchange.
The deal seeks to expand Carphone Warehouse’s retail arm and allow the Best Buy name to spread across Europe, according to the report
Once the transaction is complete, Best Buy and Carphone Warehouse will own equal 50% stakes in the business. Carphone Warehouse will continue to own all fixed line telecoms in the United Kingdom, including its share of Virgin Mobile France, TalkTalk, AOL Broadband and Opal.
The transaction is subject to shareholder approval.
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