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Daily Archives: January 28, 2009

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Creating 50 Million Jobs

Posted: January 28, 2009 at 9:03 pm

The US economy lost 2.4 million jobs in the last four months of 2008. At the current rate of layoffs, another one million will be lost this month. The unemployment ...
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Turning Starbucks (SBUX) Into A Bar

Posted: January 28, 2009 at 8:16 pm

Starbucks (SBUX) posted bad earnings for last quarter.  Over the last 2 years Starbucks expanded extensively, refusing to recognize that there was a limit to the number of people who ...
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The Game Lost, Robert Rubin Wants To Move Goal Posts

Posted: January 28, 2009 at 5:18 pm

Robert Rubin, former Goldman Sachs (GS) chief, Treasury chief, and lead director at Citigroup (C) should have been flying to Washington once a week last year. He could have thundered ...
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Despite Virtualization Hype, Citrix Tanks Today & Ahead (CTXS, VMW, MSFT)

Posted: January 28, 2009 at 5:06 pm

Citrix Systems Inc. (NASDAQ: CTXS) is getting shelled after its earnings report.  The company's net fell 4% to $0.33 EPS, and non-GAAP earnings before items was $0.48 EPS. Revenue rose ...
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Starbucks Spills Hot Coffee Over Earnings & Workers (SBUX)

Posted: January 28, 2009 at 4:17 pm

Starbucks Corp. (NASDAQ: SBUX) has posted disappointing earnings.  The coffee giant reported $0.15 non-GAAP EPS and $2.62 billion in revenue.  Thomson Reuters (First Call) had estimates were $0.17 EPS and ...
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Qualcomm Sends Weak Targets Ahead (QCOM)

Posted: January 28, 2009 at 4:08 pm

Qualcomm Inc. (NASDAQ: QCOM) reported earnings of $0.31 in pro forma non-GAAP EPS and $2.52 billion in revenue.  Thomson Reuters (First Call) had estimates of $0.47 EPS and $2.42 billion ...
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Fed Stays Low, Looks At Buying Treasuries

Posted: January 28, 2009 at 2:52 pm

According to MarketWatch, "The Federal Reserve said Wednesday that it would keep intact its current policy of record-low interest rates. In a statement following its meeting, the central bank also ...
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Bank Of America (BAC) Defers Some Bonuses Until 2010

Posted: January 28, 2009 at 2:13 pm

Bank of America (BAC) is forcing a number of employees in its investment banking operation to defer their bonuses to 2010 and beyond.After all the trouble due to Merrill Lynch ...
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Boeing Layoffs Reach 10,000 As Losses Mount (BA)

Posted: January 28, 2009 at 11:33 am

Losing money and announcing layoffs is becoming more and more routine.  That holds true even for DJIA components. The Boeing Co. (NYSE: BA) posted a $56 million loss for its ...
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Can Colonial Make It? (CNB)

Posted: January 28, 2009 at 10:54 am

Colonial Bancgroup Inc. (NYSE: CNB) is looking like it is the next banking institution on the verge of tipping over into the abyss.  Its earnings report leaves nothing to be ...
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IMF: Blame The US For Crisis

Posted: January 28, 2009 at 10:32 am

The global economy is faced with total write-downs on toxic asset which could top $2.2 billion. Most of this paper is based on mortgage-backed securities. Some guy who defaulted on ...
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Citi Resumes Coverage on Lloyds Banking Group (LYG) with a Buy on Reduced Fears of Nationalization

Posted: January 28, 2009 at 10:03 am

Citi resumes coverage on Lloyds Banking Group (NYSE: LYG) with a buy from hold, citing reduced fears of nationalization.Citi analyst says, "If the government provided 100% of the required capital ...
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Conoco Confirms Bad News (COP, XOM, CVX)

Posted: January 28, 2009 at 9:51 am

ConcocoPhillips Corporation (NYSE:COP) confirmed today its week-ago operations update that the company would take a $34 billion non-cash impairment charge in the fourth quarter of 2008. Adjusted earnings, after the ...
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The Internet Abandons The New York Times (NYT)

Posted: January 28, 2009 at 9:24 am

The Internet was going to save the newspaper industry. The Internet was going to save The New York Times Company (NYT). Especially The New York Times. The daily is so ...
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Chesapeake Will Take a Charge and Issue Debt (CHK)

Posted: January 28, 2009 at 9:14 am

After the market closed yesterday, Chesapeake Energy Corporation (NYSE:CHK) announced that it would take a $1.8 billion non-cash, after-tax impairment charge, nearly all of which is allocated to the company's ...
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