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Daily Archives: May 6, 2008

Fannie Mae (FNM) Takes A Blow To The Head, Cuts Dividend

Posted: May 6, 2008 at 7:12 am

The housing and subprime mortgage market claimed another victim today as Fannie Mae (FNM) reported a dismal quarter, cut its dividend and said it would raise $6 billion.Fannie Mae says ...
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Top 10 Pre-Market Analyst Calls (AG, HBC, CNH, MEOH, OMTR, PLD, RYAAY, SLM, PCU, VE)

Posted: May 6, 2008 at 6:53 am

These are the top 10 analyst calls that we are focusing on this Tuesday morning:AGCO Corp. (NYSE: AG) raised to Overweight at Goldman Sachs.HSBC Holdings (NYSE: HBC) cut to Neutral ...
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Europe Markets 5/6/2008 (GSK)(SAP)

Posted: May 6, 2008 at 5:48 am

Markets in Europe were off modestly at 6.40 AM New York time.The FTSE dropped .6% to 6,181. British Airways was off 3.8% to 239.25. GlaxoSmithKline (GSK) was off 1.8% to ...
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Merck (MRK): The Beatings Will Continue Until Morale Improves

Posted: May 6, 2008 at 5:37 am

Big Pharma continues to throw ballast out of the balloon in the hopes of staying aloft. The latest victim of declining fortunes in the industry is Merck (MRK), which seems ...
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Now For A Little Bad News From Sprint (S): Verizon Wireless Takes Qwest (Q) Contract

Posted: May 6, 2008 at 5:25 am

All of the rumored good news out of Sprint (S) took the stock on a magic carpet ride yesterday. First there were reports that Deutsche Telekom (DT) might buy the ...
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Sears (SHLD): Eddie Lampert Takes The Late Train

Posted: May 6, 2008 at 5:00 am

Edward S. Lampert, billionaire and hedge fund manager, arrived at the Recession about six months late. The chairman of zombie retailer Sears (SHLD) "said the retailer is taking a conservative ...
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As UBS (UBS) Cuts 5,500 Jobs, Wall St. Prepares For More Lay-Offs

Posted: May 6, 2008 at 4:46 am

UBS (UBS) telegraphed all ships in the known world as it sank into the Atlantic like the Titanic. The big bank will fire 5,500 poor souls and sell $15 billion ...
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Apple (AAPL) Girds For Another Non-Attack From Microsoft (MSFT) Zune

Posted: May 6, 2008 at 4:30 am

The Microsoft (MSFT) Zune is as rare as the Studebaker, so Apple (AAPL) has nothing to fear from plans to get more adoption for the portable music device.According to The ...
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Apple (AAPL) Gets Home Run On Vodafone (VOD) Deal

Posted: May 6, 2008 at 2:59 am

Apple (AAPL) has picked up a deal which should accelerate sales of its iPhone into a number of new countries. It a brilliant tie-up with Vodafone (VOD), Europe's largest cellular ...
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Media Digest 5/6/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

Posted: May 6, 2008 at 2:51 am

According to Reuters, UBS (UBS) will cut 5,500 jobs. The company is also selling $15 billion in subprime mortgage paper to Blackrock.Reuters writes that Bernanke says that high foreclosure rates ...
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Asia Markets 5/6/2008 (CN)(SNP)

Posted: May 6, 2008 at 2:23 am

Markets in Asia were mixed with Japan closed for a holiday.The Hang Seng rose .3% to 26,262. China Netcom (CN) rose 2.5% to 25.19. China Petroleum (SNP) fell 2.6% to ...
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