RSS Updates
Email UpdatesIt seems that the end of the recession notices via positive GDP has not reached Main Street America, at least as far as paying for their single-family house. Fannie Mae (NYSE: FNM) has just reported its October 2009 data and the figures are not getting better. The serious delinquency rates are astronomical. We would note [...]
Author Archives: 247wallst
The Great Merck Buyback.. Dividend Too (MRK)
November 24, 2009 – 3:42 pm
Merck & Co., Inc. (NYSE: MRK) barely has its Schering-Plough deal behind it. And today came the announcement of its dividend rate, but more importantly came word of a large share repurchase program. The quarterly dividend for common stock is remaining at $0.38 per quarter, which gives a yield of almost 4.20%. It also declared [...]
FOMC Narrows Unemployment, Inflation and GDP Targets
November 24, 2009 – 2:26 pm
The November 3 to 4 Minutes of the FOMC meeting are now out, and as you have been told over and over (and over and over)…. It has the flexibility to keep rates low for an extended period. But what is of interest is the new FOMC outlook figures for what lies ahead in unemployment [...]
Punishing Ciena… By Everyone (CIEN)
November 24, 2009 – 1:44 pm
Ciena Corp. (NASDAQ: CIEN) is trading higher today, a day after it’s weakness on the announced buyout of the Nortel assets. Continuing to pick on it about the risks, the leverage, and the potential inversion of the balance sheet can’t be said anymore than what was written yesterday at Investorplace.com. It is possible that the [...]
Stocks For Buffett To Unload (BRK-A, BNI, COP, XOM, GCI, WPO, MCO, NSC, UNP, UPS, UNH, WLP, GSK, SNY, IR, STI, BAC, WFC, TMK, TRV)
November 24, 2009 – 1:01 pm
We recently discussed the changes that have taken place inside Berkshire Hathaway Inc. (NYSE: BRK-A) as Warren Buffett has gone higher up the food chain. In his more focused and more opaque approach, it also seems that after a $44 billion deal including debt to buy Burlington Northern Santa Fe Corp. (NYSE: BNI) that Berkshire [...]
FDIC Fund Goes Into the Red
November 24, 2009 – 10:20 am
It seems that the healthy banks will get to come up with new funds all over again to protect the unhealthy banks, or maybe it is the regionals and community banks which will get to fund the problem. Or with any luck, the taxpayers can get to participate in the misery here. The Federal Deposit [...]
More SPAC Deal & Warrant News (EDS, TGY, NSAQ, CAEL)
November 24, 2009 – 9:07 am
We have been given some exclusive coverage on the recent developments in special purpose acquisition companies and blank check companies from SPACupdate.com this morning.
Exceed Co. (NASDAQ: EDS), the Chinese apparel maker brought public through 2020 ChinaCap Acquiro, announced that it will accept warrants in exchange for shares on a 3.96:1 basis. The deal offers warrant [...]
Today’s Best Market Rumors (11/24/2009) (FRE)(PALM)
November 24, 2009 – 9:06 am
Updated throughout the day.
Playboy (NYSE:PLA) may outsource many of its publishing operations. (WSJ)
Cadbury (NYSE:CBY) may counter the Kraft (NYSE:KFT) big by making an offer for Kraft’s confectionery business. (NYPost)
Palm (NASDAQ:PALM) board member Rajiv Dutta may join Elevation partners, Palm’s largest shareholder. (Bloomberg)
Freddie Mac’s (NYSE:FRE) losses may grow because of the bankruptcy of Taylor, Bean & Whitaker (NYTimes)
British Air may [...]
Top Day Trader Alerts (AMLN, BRCD, TIVO, SEED, FEED)
November 24, 2009 – 8:56 am
These are this morning’s top day trader and active trader alerts seen in early pre-market trading. We have more details and analysis on each stock available in links over at VSInvestor.com:
Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN) was up 10% on an analyst upgrade by Barclays.
Brocade Communications Systems Inc. (NASDAQ: BRCD) was down 2% after earnings.
TiVo Inc. [...]
GDP Revisions Keep Recession at Bay
November 24, 2009 – 8:37 am
This morning we just received the first revision to third quarter Gross Domestic Product. The original unrevised figure was reported +3.5% for Q3, and the revision came in at +2.8%. Bloomberg had a consensus estimate of 2.8% for today’s revised data, while Dow Jones was at 2.7%.
Top 10 Analyst Upgrades, Downgrades, Initiations (ATVI, AMLN, CEPH, CEO, ERTS, EXPE, PCLN, PRU, TIF, UNP)
November 24, 2009 – 7:42 am
These are this Tuesday morning’s top 10 analyst upgrades, downgrades, and initiations we have seen early this morning in Wall Street research calls:
Activision Blizzard (NASDAQ: ATVI) Started as Outperform at Wells Fargo.
Amylin Pharmaceuticals (NASDAQ: AMLN) Raised to Overweight at Barclays.
Cephalon (NASDAQ: CEPH) Raised to Buy at Jefferies.
CNOOC (NYSE: CEO) Started as Sell at RBS.
Electronic Arts [...]
Consumer Migration To Ford (F) Crushing GM And Chrysler
November 24, 2009 – 6:04 am
Car sales may slip over the next few months, but not every company will be affected equally. New research from ChangeWave shows that the bankruptcy and turmoil around GM and Chrysler is keeping buyers away from the brands.
The September 22-29 ChangeWave survey of 2,025 respondents shows Ford (F) — which avoided bankruptcy and didn’t take [...]
Hewlett-Packard (HPQ): The Case Against The Share Buyback
November 24, 2009 – 5:54 am
Hewlett-Packard (NYSE:HPQ) is the latest large American company to announce it would buyback many more of its shares. This has become popular once again among the cash rich in the Fortune 500. McDonald’s (NYSE:MCD) and IBM (NYSE:IBM) have become particularly aggressive.
The arguments against share buybacks are old and hardly worth repeating except for the fact that [...]
Almost 25% Of Homes Are Underwater
November 24, 2009 – 5:30 am
By Douglas A. McIntyre
There have been a number of attempts to come up with a figure about how many U.S. home mortgages are underwater — in other words, the value of the home loan is more than the value of the house.
All estimates are bound to be wrong because no one has had the time [...]
Shopping Trends: A PlayStation But No Miniskirt
November 24, 2009 – 5:27 am
MasterCard Spending Plus, which tracks retail sales, says that consumer electronics products are moving off the shelves of stores but women’s apparel is not. A Wall Street Journal analysis of the data for the first two weeks of November shows that purchases of electronics rose 8.1%. Purchase or women’s apparel was down 3.3% and purchase of [...]
The Rich Will Shop Early This Year
November 24, 2009 – 5:12 am
The rich will shop early this year. The poor will shop late. The edge will probably go to the poor when the amount of national holiday sales is tallied at the end of the year.
Consumer Edge Research surveyed 2,600 people to decide their shopping habits. Reviewing the study, Reuters reported, “The highest income households, or those earning [...]
Pressuring Banks To Repay TARP, Courting Trouble
November 24, 2009 – 4:56 am
The Fed wants the taxpayer’s money back. It has asked nine large banks, including Bank of America (NYSE:BAC), to give it a timetable for when they will repay TARP funds. All of these banks were put through the government’s stress test of bank financial health earlier this year.
According to Bloomberg, “The Fed’s request may turn up [...]
Media Digest 11/24/2009 Reuters, WSJ, NYTime, FT, Bloomberg
November 24, 2009 – 4:01 am
Reuters: Hewlett-Packard’s (NYSE:HPQ) profit was up 14% and the company will triple its share buyback.
Reuters: Banks have been asked to give their TARP repayment plans to the government.
Reuters: Rich people are likely to shop early this year.
Asia Markets And Europe Open (11/24/2009): Shanghai B Shares Down 7.3%
November 24, 2009 – 3:23 am
Market in Asia were broadly lowere with Shanghai B shares down 7.3%.
The Nikkei dropped 1% to 9,402. Japan Air hit a record low.
The Hang Seng was down 1.5% to 22,423. The Bank of China was down 4.4%
The Shanghai Composite fell 3.5% to 3,224.
At the open in Europe, the FTSE was off .8% to 5,311. BHP [...]
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Today’s top tickerspy Indexes Domestic Telecom ... +2.6% Stem Cell Stocks +2.3% Pain Management S... +2.1% Ethanol and Biofu... +1.9% Savings and Loan ... +1.8% 
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