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Monthly Archives: February 2009

Citi Initiates Coverage on MGM Mirage (MGM) with a Sell, Next Shoe to Drop – Defaults at CityCenter

Posted: February 3, 2009 at 9:18 am

Citi initiates coverage on MGM Mirage (NYSE: MGM) with a Sell with a price target $2.50, citing the default rates at CityCenter.Citi analyst says, "20-30% default rate at CityCenter? — ...
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BP, Gushing at First Glance (BP)

Posted: February 3, 2009 at 9:14 am

BP plc (NYSE:BP) announced its quarterly and annual results this morning. The company lost $3.34 billion in the quarter.  That is on items as the company's earnings per ADS totaled ...
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Anadarko Tries Clawing In (APC)

Posted: February 3, 2009 at 9:09 am

Anadarko Petroleum Corp. (NYSE:APC) is reacting to bits of news, one in discovery and one in earnings.  The company just yesterday reported a "substantial oil discovery" in the deepwater Gulf ...
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Upgrading the US Energy Grid: A Trillion Dollar Problem?

Posted: February 3, 2009 at 9:09 am

The new administration faces any number of sizable challenges. One thing President Obama proposes is to spend $150 billion "over the next ten years to catalyze private efforts to build ...
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Did Citigroup (C) Have A Gun To Its Head When It Agreed to $25.7 Billion In Mortgages?

Posted: February 3, 2009 at 8:47 am

Citigroup (C) said it will put up  $26.7 billion in capital for mortgage loans. It will also provide money for corporate loans, personal loans, credit cards, and student loans. The ...
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PharmaNet Going Private (PDGI)

Posted: February 3, 2009 at 8:42 am

This may be far from a super-merger and may be far from a return or thrust from private equity.  But it is a deal in the drug and research sector.  ...
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Motorola (MOT) Earnings Miss By A Mile (AAPL)(RIMM)(NOK)

Posted: February 3, 2009 at 8:25 am

Motorola (MOT) shipped only 19.2 million handsets in the last quarter. At its peak, when its RAZR was flying off the shelves, the number was over 50 million. That, in ...
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Tuesday’s Top Analyst Upgrades & Downgrades (BJ, GLW, DRI, DTSI, ITW, RBS, VIA, BHP, COF, FITB, MAT, STO)

Posted: February 3, 2009 at 7:29 am

These are some of Tuesday morning's top pre-market upgrades and downgrades we have seen from Wall Street analysts with more than two hours until the open:BJ's Wholesale (NYSE: BJ) Raised ...
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Will Dow Chemical (DOW) Use Results As Out For Rohm And Haas Deal?

Posted: February 3, 2009 at 7:23 am

Dow Chemical (DOW) posted earnings only a mother could love. The firm had a $1.55 billion loss in the last quarter and said low demand will continue "for several quarters ...
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Creating A Single National Stock Brokerage Company (BAC)(UBS)(MS)(C)

Posted: February 3, 2009 at 6:27 am

When Bank of America (BAC) bought Merrill Lynch, one huge retail brokerage team was married with a smaller one. Morgan Stanley (MS) will probably take over the Smith Barney unit ...
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Restricting GE (GE) Salaries: Regulating Compensation Of Firms That Help Build The Economy

Posted: February 3, 2009 at 6:12 am

If the government is going to force salary caps on banks, financial firms, and car companies that will get federal money, it needs to go further. The argument for limited ...
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Destroying Bank Of America (BAC) While Saving It

Posted: February 3, 2009 at 5:43 am

While the battle between Bank of America (BAC) CEO Ken Lewis and former Merrill Lynch CEO John Thain goes on over who knew about large bonuses and large losses and ...
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Media Digest 2/3/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

Posted: February 3, 2009 at 4:02 am

According to Reuters, Bank of America (BAC) and Merrill Lynch did agree on a bonus package for employees before the merger. There had been questions about the approval.Reuters reports that ...
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Asia Markets And Europe Open 2/3/2009

Posted: February 3, 2009 at 3:23 am

Markets in Asia were mixed.The Nikkei fell .6% to 7,826.The Hang Seng was off .8% to 12,757.The Shanghai Composite moved up 2.4% to 2,061.In Europe, at the open, the FTSE ...
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Angrybear

Macy’s (M): The Retail Universe In A Box

Posted: February 3, 2009 at 3:12 am

Macy's (M) said it would lay off 7,000 people, cut its dividend by about 60%, and begin a tender offer for some of its debt.After the announcement, Moody's said it ...
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