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Daily Archives: October 30, 2008

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A Prairie Fire Of Layoffs (MOT)(LM)(AB)(GS)(TWX)(GCI)(YHOO)(GM)(AXP)(ERTS)(WHR)

Posted: October 30, 2008 at 7:00 pm

Many of the layoff announcements which came over the last several days were as unexpected as they were large. If a recession is measured by the rapidity and breadth of ...
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Buffett Gets Put In Burlington Northern (BRK-A, BRK-B, BNI)

Posted: October 30, 2008 at 4:26 pm

It looks like the Oracle of Omaha is riding the Reading Railroad on the Monopoly board all over again.  Berkshire Hathaway Inc. (NYSE: BRK-A) has said in a filing that ...
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EA Spells Trouble For Video Game Sector (ERTS)

Posted: October 30, 2008 at 3:36 pm

Video game leader Electronic Arts Inc. (NASDAQ: ERTS) has just reported earnings, and this sector might not be quite as immune to economic woes as you might have hoped.  The ...
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Sun (JAVA): The Worst Tech Stock In The World Makes Its Case Again

Posted: October 30, 2008 at 3:16 pm

There has been some debate recently about which of the well-known tech stocks is the worst. AMD (AMD) is often in the running. So is Palm (PALM).Sun (JAVA) won the ...
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The 52-Week Low Club (HIG)(CI)(AVP)(GLBL)(SYMC)(EXPE)

Posted: October 30, 2008 at 2:59 pm

Hartford Financial (HIG) Big analyst downgrade. Plunges to $8.23 from 52-week high of $98.70.CIGNA (CI) Profit drops 53%. Stock off to $15.08 from 52-week high of $56.98.Avon (AVP) Weak guidance. ...
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AIG Borrows From Peter To Pay Paul In Debt-Arbitrage (AIG)

Posted: October 30, 2008 at 1:43 pm

American International Group Inc. (NYSE: AIG) disclosed in a filing today that four affiliates applied for participation in the Federal Reserve Bank of New York's Commercial Paper Funding Facility.  It ...
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Boeing Raising Up to $5 Billion (BA)

Posted: October 30, 2008 at 12:45 pm

The Boeing Company (NYSE: BA) has filed for a shelf registration to allow its Boeing Capital Corporation unit to raise up to $5,000,000,000.00 ($ billion) via the sale of debt ...
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Just When Wall St. Thought Things At Motorola (MOT) Could Not Get Worse…

Posted: October 30, 2008 at 12:14 pm

Motorola (MOT), mocked and ridiculed for being badly run for the last two years, has now let another 3,000 people go, two-thirds of them from the company's failed handset business ...
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Voodoo Economics: How Does American Express (AXP) Fire 7,000 People?

Posted: October 30, 2008 at 10:51 am

American Express (AXP) decided to pole axe 7,000 poor souls. As is true with most mass firings, it is driving the company's stock higher, in this case by 5% to ...
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Another CEO Joins Margin Call Selling Mayhem (DNR, BSX, CHK, CBS, VIA, AIG)

Posted: October 30, 2008 at 10:49 am

Gareth Roberts, CEO of Denbury Resources (NYSE:DNR) was forced to sell 513,000 shares of the company's stock to meet a margin call "pursuant to a real estate based loan." That ...
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Where Will Jim Cramer’s Primary Responsibilities Go? (TSCM)

Posted: October 30, 2008 at 9:58 am

TheStreet.com Inc. (NASDAQ: TSCM) reported lackluster earnings after yesterday's close with a third quarter loss of $0.04 per share as revenue rose 4% from a year earlier to $16.7 million.  ...
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The Worst Looks Over At Cal Dive (DVR)

Posted: October 30, 2008 at 9:38 am

Offshore driller Cal Dive International Inc. (NYSE:DVR) reported third quarter earnings after markets closed yesterday. The company announced EPS of $0.44 on revenue of $278.7 million. Analysts had been expecting ...
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Foundry & Brocade, When Less Is Really More (FDRY, BRCD)

Posted: October 30, 2008 at 9:17 am

Brocade Communications Systems Inc. (NASDAQ: BRCD) originally announced an acquisition of Foundry Networks, Inc. (NASDAQ: FDRY) for $18.50 of cash plus 0.0907 shares of Brocade common stock. The deal valued ...
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Exxon & Big Oil Actually Like Low Oil Prices (XOM, RDS.A, MUR)

Posted: October 30, 2008 at 8:31 am

It may be a stretch to say that oil companies actually like lower oil prices, but these oil companies keep posting great earnings even though oil has fallen from north ...
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Clean Energy Tries to Sell Non-Performance (CLNE)

Posted: October 30, 2008 at 8:03 am

Clean Energy Fuels (NASDAQ:CLNE), T. Boone Pickens's public alternative energy company for converting natural gas to auto fuel, reported preliminary third quarter results after the market closed yesterday. There was ...
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