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Daily Archives: October 9, 2008

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Are Short Sellers Hitting GM (GM)?

Posted: October 9, 2008 at 9:56 am

Are short sellers hitting GM? The stock has been off as much as 20% today and has traded as down to $5.41. The shares have not been that low since ...
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This Month’s Retail Wall of Shame (ANF, CHS, GPS, PIR, SSI)

Posted: October 9, 2008 at 9:24 am

It is no secret that the consumer is in the tank and that retail sales are coming in poorly.  It would have been a fool's gold trade to believe you ...
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The FDIC, and How Soon We Forget

Posted: October 9, 2008 at 9:03 am

By John Tamny, RealClearMarketsChairman Henry Gonzalez (D-Texas) and his committee are taking us back to 1980, when former Chairman Fernand St. Germain boosted deposit insurance to $100,000 an account (from ...
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The Huntsman Merger Lives (HUN)

Posted: October 9, 2008 at 8:22 am

Huntsman Corp. (NYSE: HUN) is seeing explosive trading in its stock this morning before the open.  It appears that the private equity merger which was called off, then ruled as ...
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ArcelorMittal Denying Trouble Seen In Its Stock Chart (MT)

Posted: October 9, 2008 at 8:13 am

ArcelorMittal (NYSE: MT) is trading higher in overseas trading this morning based upon its investor presentation today.  The steel giant is reaffirming that its third quarter EBITDA will be in ...
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Can deCODE Genetics Escape Icelandic Woes? (DCGN)

Posted: October 9, 2008 at 7:54 am

If you think things are bad here in the U.S., Iceland is experiencing something far worse.  The country is on the verge of teetering, it is nationalizing its banks, and ...
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Goldman Sachs Kicking Steel While It’s Down (AKS, STLD, TX, CMC)

Posted: October 9, 2008 at 7:28 am

It is a bit surprising when you see a firm like Goldman Sachs downgrade many key steel stocks after their shares have fallen by so much.  That is what we ...
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Gap (GPS) Gets Killed, Same-store Down 11%

Posted: October 9, 2008 at 7:12 am

In what will probably be viewed as bad news by most people, Gap's (GPS) same-store sales dropped 11% last month. And the chain sells dirt-cheap clothes.Net sales dropped 6% to ...
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Long Live the Short Sale

Posted: October 9, 2008 at 6:13 am

The ban on short sales in financials and companies tied to financials has ended.  Beginning this morning, investors will be able to bet against these companies.  While the experiment was ...
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IBM’s Earnings: No Bellwether For Tech (ORCL)(MSFT)(CSCO)(INTC)

Posted: October 9, 2008 at 5:40 am

It would not be a good idea to look at IBM's (IBM) superior earnings and assume that tech will have had a good third quarter and that the rest of ...
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Citigroup (C) And Wells Fargo (WFC) Find A Cowpie On Wachovia’s (WB) Books

Posted: October 9, 2008 at 5:17 am

The most wonderful thing about the current financial crisis is that it is a monument to human optimism. Every day executives and government officials signal that things may be getting ...
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AIG (AIG): The Buffoons Take Over The Nut House

Posted: October 9, 2008 at 5:01 am

It did not take long for the bailout of AIG (AIG) to dissolve into chaos. Just two weeks after the Fed put $85 billion into the failing insurance company, the ...
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Paulson’s New Bailout Plan: The Trouble With Owning Bank Shares

Posted: October 9, 2008 at 4:39 am

Henry Paulson watched the Brits come up with a new plan to save the banking system before he did. He is probably embarrassed by that. He and Bernanke seemed to ...
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Media Digest 10/9/2008 Reuters, WSJ, NYTimes, FT, Bloomberg

Posted: October 9, 2008 at 2:59 am

According to Reuters, the US Treasury may buy interests in large banks following the model set up by the UK.Reuters reports that IBM's (IBM) earnings strength helped calm tech investors.Reuters ...
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Asia Markets 10/9/2008 (PTR)(SNE)

Posted: October 9, 2008 at 2:21 am

Markets in Asia were mixed.The Nikkei fell .5% to 9,157. Sony (SNE) and Canon were both up over 4%.The Hang Seng rose 2% to 15,741. China Overseas Land Investment was ...
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