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Daily Archives: October 6, 2008

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OSI Phase III Falls Short (OSIP, DNA)

Posted: October 6, 2008 at 7:47 am

OSI Pharmaceuticals Inc. (NASDAQ: OSIP) is getting hit hard in early trading this morning.  The biotech has released data showing that a Phase III trial of Genentech's (NYSE: DNA) Avastin ...
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Biotech Implosion: CombinatoRx (CRXX)

Posted: October 6, 2008 at 7:30 am

CombinatoRx, Incorporated (NASDAQ: CRXX) is seeing its stock implode this morning.  The company released data from its Phase IIb study of Synavive (CRx-102) for knee osteoarthritis showing that its Synavive ...
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Crocs Shrinkage (CROX)

Posted: October 6, 2008 at 7:24 am

Crocs, Inc. (CROX) is showing yet again that its growth days are history.  The fad shoe maker has announced that it sold certain assets of its Foam Creations business unit ...
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Ninetendo Paints A Target On Apple (AAPL)

Posted: October 6, 2008 at 7:10 am

Nintendo wants revenge. Now that Apple (AAPL) has come out with an iPhone that can download games, the Japanese company appropriately believes that Steve Jobs wants their business.According to BusinessWeek, ...
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Top Pre-Market Analyst Downgrades (ADBE, AMB, BLKB, KO, EMCI, HSII, KFN, OMTR, PLD, VAR, VMW, VMC)

Posted: October 6, 2008 at 6:36 am

These are some of the top downgrades we have seen this Monday morning with about 2 hours until the open:Adobe Systems (ADBE) Cut to Market Perform at FBR.AMB Property (AMB) ...
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Top Pre-Market Analyst Upgrades (ALD, ADM, DLTR, MON, SINA, WFC)

Posted: October 6, 2008 at 6:33 am

These are some of the top upgrades we have seen this Monday morning with about 2 hours until the open:Allied Capital (ALD) Raised to Neutral at JPMorgan.Archer Daniels Midland (ADM) ...
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Countrywide Gets Too Expensive For Bank Of America (BAC)

Posted: October 6, 2008 at 5:27 am

Because management at Countrywide turned out to be thieving goons, Bank of America (BAC) is stuck with mortgages which should never have been granted by the huge housing lender. As ...
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Will The Fed Save America’s Major Industries?

Posted: October 6, 2008 at 5:14 am

Perhaps the Fed and the Treasury have saved the banking and brokerage industries. The Fed has certainly provided hundreds of billions of dollars at its emergency window and Paulson has ...
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Cutting The Baby In Half At Wachovia (WB)(WFC)(C)

Posted: October 6, 2008 at 4:54 am

A sword was brought, and Solomon ordered,"Cut the baby in half! That way each of you can have part of him." 2 Chronicles 1.1-1.3If Vikram Pandit at Citigroup (C) had ...
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The Recession Is Coming Home For The Holidays (M)(SHLD)(GPS)(JCP)

Posted: October 6, 2008 at 4:32 am

Santa will be thinner this year, a sign that he cannot afford all that rich food. It is a good thing that he wears a beard because can't afford a ...
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Lehman CEO Set To Pull A Jeff Skilling Before Congress?

Posted: October 6, 2008 at 4:02 am

Bloomberg reports that "Richard Fuld, the chief executive officer of Lehman Brothers Holdings Inc., may tell legislators angry about Wall Street's excesses that eroding confidence in the financial system led ...
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Media Digest 10/6/2008 Reuters, WSJ, NYTimes, Bloomberg

Posted: October 6, 2008 at 2:57 am

According to Reuters, regulators around the world are trying to shore up the banking system. Reuters reports that the Fed is trying to broker a deal for whether Citigroup (C) ...
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Europe Markets Crushed At The Open

Posted: October 6, 2008 at 2:21 am

Markets in Europe were sharply lower at the open.The FTSE was off 4.8% to 4,891.The DAXX fell 4.3% to 5,547.The CAC 40 dropped 4.8% to 3,885.Data from MarketWatchDouglas A. McIntyre ...
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Asia Markets 10/6/2008 (PTR)

Posted: October 6, 2008 at 2:17 am

Markets in Asia sold off sharply.The Nikkei fell 4.3% to 10,473. Mitsubishi UFJ Financial fell over 9%. Other financial stocks fell sharply as did big exporter Canon.The Hang Seng sold ...
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