Posts for Ticker ‘CGI’

Short Sellings Move Back Into Financials, Target Industrials, Tech, And Media

bearShort sellers think financial stocks believe that financial stocks still have further to fall. Based on data as of February 15, short sellers kept a big bet on Citigroup (C). Share short in AIG (AIG) rose 17% to 151 million The short interest in Well Fargo (WFC) was up 11% to 124 million, and shares sold short in Bank of America (BAC) rose 15% to 111 million. Shares sold short in Goldman Sachs (GS) were up 26% to 16 million

Short sellers also made a run at the stocks in large industrial companies. Shares short in GM (GM) rose 9% to 114 million. The short interest in Dow Chemical (DOW) was up 28% to 39 million. Shares short in Corning (GLW) rose rose 33% to 26 million.

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Posted on: February 26, 2009 – 4:17 am in Short Interest, , , , , , , , , , , , , , , , ,

Media Digest 2/25/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaper15According to Reuters, Obama is pushing for a new health-care plan which will take ten years to fully take effect.

Reuters says Obama is pushing for quick Wall St. reform.

Reuters reports that Citigroup (C) is close to reaching a deal with the government for a new investment in the bank

Reuters writes that the US may break up AIG (AIG) Read More »

Posted on: February 26, 2009 – 3:51 am in Press Digest, , , , , , , , , , , , , , , , ,

A Prairie Fire Of Layoffs (MOT)(LM)(AB)(GS)(TWX)(GCI)(YHOO)(GM)(AXP)(ERTS)(WHR)

Angrybear_2Many of the layoff announcements which came over the last several days were as unexpected as they were large. If a recession is measured by the rapidity and breadth of job losses across huge parts of the economy, the current downturn will be unusually vicious. Even highly profitable firms are resorting to firings relatively early in what is almost certain to be an extremely difficult cycle which could last for several quarters.

The cuts at Motorola (MOT) were expected. The handset division which the company planned to sell-off is so badly damaged that the firm cannot part with it. Revenue at the cell phone unit fell by 31% and only 25 million handsets were shipped, less than half of what was going out the door two years ago. Motorola has already been though two series of “downsizing”, and another 3,000 people were sent out the doors today.

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Posted on: October 30, 2008 – 7:00 pm in Economy, , , , , , , , , ,