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"Going, Going, Gone!"
Sirius XM Radio Inc. (NASDAQ: SIRI) is being mentioned in TheStreet.com, New York Times, the WSJ, and elsewhere as either “filing for bankruptcy protection” or that it was “near to filing for bankruptcy protection.”
I had just spoken with Michael Hartleib of SaveSIRIUS.org, a group he leads that’s critical of the company’s strategy. Needless to say, Mr. Hartleib is not too happy. That was why he called us.
Sirius is part of our “companies that won’t make it” for 2009, which is a list of 10 stocks that have operating business but may file for bankruptcy protection or worse. Bankruptcies are almost good for shareholders of common stock. Not unless they need a big tax write-off against capital gains.
Hartleib has also noted some issues about conflicts of interest over the SIRIUS debt purchases by EchoStar Corp. (NASDAQ: SATS).
Jon C. Ogg
February 10, 2009
3M Co. (NYSE: MMM) just did the opposite of what many large companies are doing in the current liquidity-crunched environment. The conglomerate just raised its dividend to $0.51 per share. We have been commenting how General Electric Co. (NYSE: GE) needs to cut its dividend, so it is important to see how these two compare.
After the close of trading, there was an SEC filing showing that billionaire and activist investor Carl Icahn now controls more than 10.5% of Lions Gate Entertainment Corp. (NYSE: LGF). This was on the heels of a huge drop today.
Third Wave Acquisition Corp. has just filed with the SEC to withdraw it proposed inital public offering. You can probably guess why: In light of current market conditions.
NVIDIA Corporation (NASDAQ: NVDA) earnings show the dual problems of the PC sector. If you are not a fan of caution or if you think you can’t take any more negative news, let’s just say this is disturbing.
Corrections Corp (CXW) Weak earnings outlook. Plunges to $10.50 from 52-week high of $10.50.
The Baltic Dry Index is rising from a low in December 2008 of about 660 (essentially zero) to about 1800 (only a little better) now, and the rise is producing a glimmer of hope for the global economy. The index attempts to put a number on the cost of shipping raw materials, like iron ore and coal, by sea. The index reached an all-time high of over 11,000 in May 2008. 
Wal-Mart Stores Inc. (NYSE: WMT) was supposed to be a winner in the economic slide as the “trade down” shopping destination. It goes without saying that Wal-Mart has more than a few critics. Now it looks like it will get a few more employee relations problems. The reason: LAYOFFS.
Advanced Micro Devices Inc. (NYSE: AMD) may end up getting stuck with its manufacturing operations. Its plan to become “fab-lite” has been delayed because it did not win enough shareholder support.
Treasury Secretary Tim Geithner is out with his banking and financial rescue plan. This will not go without criticism and not all methodologies look set in stone, mainly because this package still raises plenty of questions.
Chinese solar panel maker Yingli Green Energy Holding Company Ltd. (NYSE:YGE) reported earnings of $14.7 million (EPS of $0.12) for the fourth quarter this morning. Analysts had been expecting EPS of $0.07, so this announcement is boosting the stock by about 3% in early trading.
Patriot Coal Corp. (NYSE:PCX) reported fourth quarter and full year numbers this morning. Patriot’s report follows the trail blazed earlier this year by Peabody Energy Corp. and Arch Coal Inc. (NYSE:ACI) and CONSOL Energy Inc. (NYSE:CNX).
These are some of the top pre-market analyst downgrades and negative research calls we have seen from Wall Street with more than two hours to open this Tuesday morning:
These are some of the top pre-market analyst upgrades and positive calls we have seen this Tuesday morning with well over two hours until the market opens:
