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Concern about the health of Apple (AAPL) CEO and founder Steve Jobs has been mounting since his appearance to launch the iPhone 3G model. He was terribly thin. Earlier this week, the press raised the issue again and when the company’s CFO said during the Apple earnings call that Jobs health was a "private matter," investors grew more restless.
Daily Archives: July 22, 2008
Apple (AAPL): Steve Jobs Is Fine
T. Boone Pickens: $300 Oil
Former big oil man and corporate raider turned wind-power advocate T. Boone Pickens says that oil could hit $300 a barrel if the US cannot cut back on importing the stuff. The best way to accomplish that, at least in his mind, would be to build a massive wind farm system. Pickens owns some of the land which would host the system, but he says he is not in it for the money.
According to Reuters, "If we continue to drift, oil will hit $300 a barrel in 10 years," Pickens testified at a hearing of the U.S. Senate Homeland Security and Governmental Affairs Committee.
The fact that he is rich does not make him wrong.
Douglas A. McIntyre
E*TRADE Dinged on Losses & Writedowns (ETFC, FNM, FRE)
E*TRADE Financial Corp. (NASDAQ: ETFC) posted its loss after the close. The company posted a -$0.19 non-GAAP EPS loss while First Call had estimates at -$0.14 EPS.
The company set aside some $319.1 million to cover rising defaults in investment portfolios and reserved a mere $30 million for loan losses. The company noted those losses were higher than expected and tied to home equity charge offs.
Yahoo! Given a Pass on a Miss (YHOO)
We have earnings out of Jerry Yang and friend, a.k.a. Yahoo! Inc. (NASDAQ: YHOO). The troubled internet search and content posted $0.10 non-GAAP EPS (which looks more like about $0.095 on the total when you add up items) and $1.35 in ex-TAC revenues. First Call had estimates pegged at $0.12 EPS (rounded up from $0.11+) on $1.37 Billion in revenues.
VMware Disappoints Now & Ahead (VMW)
The 52-Week Low Club 7/22/2008 (TXN)(AMD)(MRK)(VMW)(AGO)(SNDK)
Texas Instruments (TXN) Bad earnings take chip company down. Falls to $23.28 from 52-week high of $38.79.
AMD (AMD) Chip company may have changed CEOs but Wall St. still thinks company is dead. Sells down to $4.32 from 52-week high of $15.69.
Merck (MRK) Major drug trial goes wrong. Company suspends guidance. Drops to $31.15 from 52-week high of $61.62.
Sirius & XM Facing New FCC Troubles? (SIRI, XMSR)
Sirius Satellite Radio (NASDAQ: SIRI) and XM Satellite Radio (NASDAQ: XMSR) just saw shares tank intra-day. The Wall Street Journal has reported that an FCC member has voted against the merger making the vote now stand 2-1 (2 for, 1 against) with 2 votes remaining. CNBC also just rang in on this situation so we are still looking for more solid data on this situation.
Yahoo! Digs In Ahead Of Earnings (YHOO)
After today’s close we’ll get earnings out of Yahoo! Inc. (NASDAQ: YHOO). First Call has estimates pegged at $0.12 EPS on $1.37 Billion in revenues. For next quarter estimates are $0.12 EPS on $1.4 Billion in revenues and Fiscal December-2008 estimates are $0.48 EPS on $5.72 Billion in revenues. As a reminder all revenue estimates are ex-TAC revenues (traffic acquisition costs).
We recently ran three price/value scenarios before Yahoo! capitulated to Icahn to show three different value scenarios with an at-market scenario, and one each for above and below current prices.
VMware’s Most Important Earnings Yet (VMW, EMC)
First Call has estimates for the virtualization behemoth pegged at $0.23 EPS on $458.6 million in revenues. If the company clarifies its guidance, estimates for Q3-2008 are $0.25 EPS on $497.3 million and estimates for Fiscal December-2008 are $1.02 EPS on $1.96 Billion in revenues.
There have been many issues going into this earnings report which make this the most crucial earnings report in the company’s history as a public company. First off, the CEO was a founder of the company and she "recently left" the company. The reports vary on whether this was her leaving because she wanted a standalone VMware or whether it was over the forward light-ish guidance. The other thing that brings up issues is that the company already started a process to reprice employee stock options.
International Energy ETF Launch From State Street (STT, IPW)
State Street Corporation (NYSE: STT) announced that its State Street Global Advisors unit is launching 10 new SPDR exchange-traded funds, which are supposed to begin trading on the American Stock Exchange today.
SPDR(R) S&P(R) International Energy Sector ETF (AMEX: IPW)
- This index includes more than 300 non-US energy companies with market caps of at least $100 million.
These ETF’s are benchmarked to a series of the S&P(R) World ex-U.S. Broad Market Indices, which are market cap weighted with only non-US holdings. The expense ratio on each of these ten ETF’s is listed as 0.50%.
Jon C. Ogg
July 22, 2008
International Utilities ETF Launch From State Street (STT, IPU)
State Street Corporation (NYSE: STT) announced that its State Street Global Advisors unit is launching 10 new SPDR exchange-traded funds, which are supposed to begin trading on the American Stock Exchange today.
SPDR(R) S&P(R) International Utilities Sector ETF (AMEX: IPU)
- This index includes more than 130 non-US utility companies with market caps of at least $100 million.
These ETF’s are benchmarked to a series of the S&P(R) World ex-U.S. Broad Market Indices, which are market cap weighted with only non-US holdings. The expense ratio on each of these ten ETF’s is listed as 0.50%.
Jon C. Ogg
July 22, 2008
ETF Launch: International Telecom Sector From State Street (STT, IST)
State Street Corporation (NYSE: STT) announced that its State Street Global Advisors unit is launching 10 new SPDR exchange-traded funds, which are supposed to begin trading on the American Stock Exchange today.
SPDR(R) S&P(R) International Telecommunications Sector ETF (AMEX: IST)
- This index includes more than 70 non-US telecommunications companies with market caps of at least $100 million.
These ETF’s are benchmarked to a series of the S&P(R) World ex-U.S. Broad Market Indices, which are market cap weighted with only non-US holdings. The expense ratio on each of these ten ETF’s is listed as 0.50%.
Jon C. Ogg
July 22, 2008
State Street International Technology ETF Launch (STT, IPK)
State Street Corporation (NYSE: STT) has announced that its State Street Global Advisors unit is launching 10 new SPDR exchange-traded funds, which are supposed to begin trading on the American Stock Exchange today.
SPDR(R) S&P(R) International Technology Sector ETF (AMEX: IPK)
- This index includes more than 650 non-US technology companies with market caps of $100 million or more.
These ETF’s are benchmarked to a series of the S&P(R) World ex-U.S. Broad Market Indices, which are market cap weighted with only non-US holdings. The expense ratio on each of these ten ETF’s is listed as 0.50%.
Jon C. Ogg
July 22, 2008
State Street International Materials ETF Launch (STT, IRV)
State Street Corporation (NYSE: STT) has announced that its State Street Global Advisors unit is launching 10 new SPDR exchange-traded funds, which are supposed to begin trading on the American Stock Exchange today.
SPDR(R) S&P(R) International Materials Sector (AMEX: IRV)
- The index includes more than 640 non-US materials companies with market caps in excess of $100 million.
These ETF’s are benchmarked to a series of the S&P(R) World ex-U.S. Broad Market Indices, which are market cap weighted with only non-US holdings. The expense ratio on each of these ten ETF’s is listed as 0.50%.
Jon C. Ogg
July 22, 2008
State Street International Industrial ETF Launch (STT, IPN)
State Street Corporation (NYSE: STT) has announced that its State Street Global Advisors unit is launching 10 new SPDR exchange-traded funds, which are supposed to begin trading on the American Stock Exchange today.
SPDR(R) S&P(R) International Industrial Sector ETF (AMEX: IPN)
- The index includes over 1,200 non-US industrial companies with market caps of over $100 million.
These ETF’s are benchmarked to a series of the S&P(R) World ex-U.S. Broad Market Indices, which are market cap weighted with only non-US holdings. The expense ratio on each of these ten ETF’s is listed as 0.50%.
Jon C. Ogg
July 22, 2008
State Street International Health Care ETF Launch (STT, IRY)
State Street Corporation (NYSE: STT) has announced that its State Street Global Advisors unit is launching 10 new SPDR exchange-traded funds, which are supposed to begin trading on the American Stock Exchange today.
SPDR(R) S&P(R) International Health Care Sector ETF (AMEX: IRY)
- This index includes over 330 non-US health care companies with market caps of over $100 million.
These ETF’s are benchmarked to a series of the S&P(R) World ex-U.S. Broad Market Indices, which are market cap weighted with only non-US holdings. The expense ratio on each of these ten ETF’s is listed as 0.50%.
Jon C. Ogg
July 22, 2008
State Street ETF Launch: International Financial Sector (STT, IPF)
State Street Corporation (NYSE: STT) has announced that its State Street Global Advisors unit is launching 10 new SPDR exchange-traded funds, which are supposed to begin trading on the American Stock Exchange today.
SPDR(R) S&P(R) International Financial Sector ETF (AMEX: IPF)
- This index includes more than 1,000 non-US financial services companies with market caps of over $100 million.
These ETF’s are benchmarked to a series of the S&P(R) World ex-U.S. Broad Market Indices, which are market cap weighted with only non-US holdings. The expense ratio on each of these ten ETF’s is listed as 0.50%.
Jon C. Ogg
July 22, 2008
State Street ETF Launch: International Consumer Staples Sector (STT, IPS)
State Street Corporation (NYSE: STT) has announced that its State Street Global Advisors unit is launching 10 new SPDR exchange-traded funds, which are supposed to begin trading on the American Stock Exchange today:
SPDR(R) S&P(R) International Consumer Staples Sector ETF (AMEX: IPS)
- The index includes over 330 non-US companies in consumer staples with market caps over $100 million.
These ETF’s are benchmarked to a series of the S&P(R) World ex-U.S. Broad Market Indices, which are market cap weighted with only non-US holdings. The expense ratio on each of these ten ETF’s is listed as 0.50%.
Jon C. Ogg
July 22, 2008
State Street ETF Launch: International Consumer Discretionary Sector (IPD)
State Street Corporation (NYSE: STT) has announced that its State Street Global Advisors unit is launching 10 new SPDR exchange-traded funds, which are supposed to begin trading on the American Stock Exchange today:
SPDR(R) S&P(R) International Consumer Discretionary Sector ETF (AMEX: IPD)
- The index has over 990 non-U.S. consumer discretionary companies with market caps of greater than $100 million.
These ETF’s are benchmarked to a series of the S&P(R) World ex-U.S. Broad Market Indices, which are market cap weighted with only non-US holdings. The expense ratio on each of these ten ETF’s is listed as 0.50%.
Jon C. Ogg
July 22, 2008
Nine CEOs Who Will Go By The End Of The Year (CROX)(YHOO)(JAVA)(SIRI)(CBS)(VIA)(GM)(LEH)(Q)
Since 2006, 24/7 Wall St. has scrutinized public companies on a regular basis, focusing on those with poor management and has suggested which big company CEOs needed to be replaced. Hector Ruiz of AMD was on more than one of our lists. He stepped down last week. Charles Prince at Citigroup (NYSE:C) was on the 24/7 list of CEOs Who Have to Go list in 2006. So was Kevin Rollins of Dell (DELL). We have missed the boat on some of our calls. The chief at Kodak (EK) is still on the job. So is the head of Pfizer (PFE).
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