When it announced earnings for its last quarter Apple (AAPL) said it expects to earn $.90 to $1 per share on $7.6 billion to $8 billion in sales in the current quarter. Most analysts view that as light, but there are concerns that Apple’s sales of iPhones and Macs may falter.
For the quarter to be strong, Apple will probably have to sell four million iPhones and two million Macs, and 12 million iPods.
What are the chances of that?
GE (GE) is faced with a potential downgrade of its debt from "Aaa" status and angry investors who want to know why the company insists on having a TV network and medical supply company under the same corporate roof.
GE’s shares are now down to $12, off almost 65% in the last year compared to a 34% drop in the DJIA.
GE got a bit of good news today. NBC will post impressive advertising revenue for the Super Bowl.
Macy’s (M) is up against the same hard rock as other large retailers who cater to the middle class, Sears (SHLD) and Nordstrom (JWN). Sales are being crippled by the recession and there are simply too many stores in too many malls and on too many street corners.
Macy’s (M) may layoff as many as a thousand people next week.
Everyone waited last week for the government to set up a "bad bank" last week where banks and major financial institutions would get to sell their toxic debt and credit instruments. So, it won’t shock many of you that there have been problems with this idea.
The prices to be paid for these assets were seen as too high. The "N WORD" for "nationalization" is unfortunately becoming a growing risk for investors. Here is what seers like Julian Robertson, Meredith Whitney, Bill Seidman, Jamie Dimon, Bill Gross, and others have to say about it.
The federal government has put $150 billion into rescuing AIG (AIG), which was once the most profitable insurance company in the world. With financial relationships linking it to banks and brokerages all around the US and overseas, AIG was deemed "too big to fail." When Lehman went out of business it cost its trading and lending partners tens of billions of dollars. AIG’s balance sheet makes Lehman’s look tiny.
But, the $150 billion has not been enough.
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