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Daily Archives: October 3, 2008

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Justice Department Brings Google (GOOG) To Its Knees

Posted: October 3, 2008 at 3:40 pm

Bloomberg is reporting that Google (GOOG) will delay its deal to sell search advertising for Yahoo! (YHOO) "until U.S. regulators can wrap up an investigation into the deal." Since The ...
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Bank IPO On Deck: First Savings Financial Group (FSFG)

Posted: October 3, 2008 at 3:19 pm

The IPO market has been dead as a doornail.  But next week we have a bank IPO coming to market.  It is amazing that a bank would dare come to ...
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The 52-Week Low Club 10/3/2008 (AAPL)(YRCW)(MGM)(LVS)(OMX)(FR)(IAR)

Posted: October 3, 2008 at 2:51 pm

Idearc Inc (IAR) No major news. Off to $.78 from 52-week high of $32.52.First Industrial Realty (FR) Cuts guidance and plunges to $18.32 from 52-week high of $42.71.Officemax (OMX) Office ...
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Warren Buffett Comments on Bailout & Bank Merger Fight (BRK-A, C, WB, WFC)

Posted: October 3, 2008 at 1:50 pm

Warren Buffett of Berkshire Hathaway Inc. (NYSE: BRK-A) just told CNBC that the bailout plan was "no panacea" but that it will help avoid a total disaster.  Whether it will ...
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$700B Bailout Passage Keeps The Hangman Away, For Now

Posted: October 3, 2008 at 12:24 pm

The $700 billion bailout bill passed the House after its failure early this week.  The Senate has already approved this new package which contained many more add-ons than the ...
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Teck Cominco to Get New Name, New Business Units (TCK, FDG, BHP, BTU)

Posted: October 3, 2008 at 10:48 am

Canadian miner Teck Cominco (NYSE:TCK) is changing its name to Teck Resources, and the company intends to build its brand just on the name Teck. The new name takes ...
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Citi Cries Out Demands To Wachovia, Ramifications Are Game Changing (C, WB, WFC)

Posted: October 3, 2008 at 10:02 am

Citigroup Inc. (NYSE: C) has finally issued a statement on the interruption of its Wachovia Corp. (NYSE: WB) buyout.  Citi is saying that Wachovia's agreement to a transaction with Wells ...
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Citigroup (C): Vikram Pandit Continues To Play The Fool

Posted: October 3, 2008 at 9:18 am

Vikram Pandit has been the CEO of Citigroup (C) for ten months. The only thing he has done right is collect $216 million in compensation. Much of that was for ...
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ISM Service Economy Holding Positive, Barely

Posted: October 3, 2008 at 9:16 am

The economic data has been coming out poorly all week.  But the last report for the week came in line to slightly higher than expectations and is showing that maybe ...
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Did General Growth Just Save Itself? (GGP)

Posted: October 3, 2008 at 8:26 am

General Growth Properties Inc. (NYSE: GGP) is getting a lift this morning on what many would  consider bad news.  The REIT has replaced its chief financial officer and suspended its ...
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Thankfully, Cohen Stepping Down As CEO of Finish Line (FINL, GCO)

Posted: October 3, 2008 at 7:52 am

Another one of 24/7 Wall St. CEO's that need to go has come to fruition.  This morning Finish Line (NASDAQ: FINL) announced a management succession plan to replace co-founder Alan ...
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Unemployment Shows Jobs Disappearing Rapidly

Posted: October 3, 2008 at 7:35 am

Today's jobs numbers are taking the U.S. deeper and deeper into recession.  Technically, the U.S. economic data is not showing a recession, but ask anyone on Main Street or Wall ...
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Top Pre-Market Analyst Upgrades (BNI, CMP, CSX, MET, MXB, NI, PLL, XEL)

Posted: October 3, 2008 at 6:41 am

These are some of the top upgrades from Wall Street analysts we are seeing this Friday morning with about two hours to the open.Burlington Northern (BNI) Raised to Overweight at ...
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Top Pre-Market Analyst Downgrades (ADBE, AGU, CMI, INTU, MOS, NST, PENN, CRM, SCG, SGP, SYMC, TEX, XRTX)

Posted: October 3, 2008 at 6:38 am

These are the top analyst downgrade calls we are seeing this Friday morning with two hours to the open:Adobe Systems (ADBE) Cut to Sell at UBS.Agrium (AGU) Cut to Hold ...
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Wells Fargo Sneaks Into Wachovia, Steals It From Citi (WFC, WB, C, SOV, NCC, FITB)

Posted: October 3, 2008 at 6:12 am

Wachovia Corp. (NYSE: WB) is now in play as Wells Fargo (NYSE: WFC) has come out with an alternative merger deal in a stock for stock merger offer for ...
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