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Lee Iacocca, Chrysler’s CEO in 1979, worked for $1 a year while his company paid back taxpayers $1.2 billion in loan guarantees. Edward Liddy, former CEO of Allstate (ALL) was paid $1 a year when he stepped in to run the crumbling AIG (AIG) as the request of Henry Paulson, who was Treasury Secretary at the time—September 2008.
Posts for Ticker ‘PALM’
The 15 CEOs Who Should Be Paid $1 A Year
The Unusual Suspects (ADBE, AIXG, GME, HAS, BBY, CIEN, LGF, ORCL, OSIP, PALM, SOMX, TEVA, TIF, CSCO, PFE, AMGN, RIMM)
This week is a jam-packed list full of the Unusual Suspects. We have many earnings reports, enough that we had to screen out some, and we have many issues to watch for news, charts, and coming developments to watch. This week’s list of Unusual Suspects is Adobe Systems Inc. (NYSE: ADBE), Aixtron Aktiengesellschaft (NASDAQ: AIXG), GameStop Corp. (NYSE: GME), Hasbro Inc. (NYSE: HAS), Best Buy Co. Inc. (NYSE: BBY), Ciena Corp. (NASDAQ: CIEN), Lions Gate Entertainment Corp. (NYSE: LGF), Oracle Corp. (NASDAQ: ORCL), OSI Pharmaceuticals Inc. (NASDAQ: OSIP), Palm, Inc. (NASDAQ: PALM), Somaxon Pharmaceuticals Inc. (NASDAQ: SOMX), Teva Pharmaceutical Industries Limited (NASDAQ: TEVA), and Tiffany & Co. (NYSE: TIF).
In this issue you will see detailed previews, coming expectations. relevant price and trading ranges, chart data, and other color for each situation where applicable.
Today’s Best Markte Rumors (3/19/2010)
Updated throughout the day.
Merrill Lynch warned the SEC and Fed that Lehman was booking capital aggressively (FT)
Apax Partner may buy Polycom (PLCM) for as much as $3 billion (FT)
Palm (PALM), just off poor earnings, may be a buyout target for Dell (DELL), Nokia (NOK), or Microsoft (MSFT)–the 1,000th time the rumor has been floated (Reuters).
Yale plans to cut its hedge fund investments (Bloomberg).
Apple (AAPL) is having trouble getting as many media content deals as it wants ahead of its iPad launch (WSJ)
Douglas A. Mcintyre
Top 10 Analyst Upgrades and Downgrades (BBY, CPSI, DTV, HAL, PALM, RIMM, SLB, SPLS, SYNA, WFT)
These are ten of this Friday’s top analyst upgrades, downgrades, and initiations seen in Wall Street research calls:
Best Buy Co. Inc. (NYSE: BBY) Raised to Buy at Goldman Sachs.
Computer Programs & Systems Inc. (NASDAQ: CPSI) Raised to Hold at Auriga.
DIRECTV (NYSE: DTV) Cut to Hold at Citigroup.
Halliburton Company (NYSE: HAL) Started as Perform at Oppenheimer.
Palm Inc. (NASDAQ: PALM) Cut to Sell at Kaufman Bros.; Cut to Underperform at Morgan Joseph. Canaccord Adams cut the target to ZERO.
Research-in-Motion (NASDAQ: RIMM) Started as Buy at Wunderlich.
Schlumberger Ltd. (NYSE: SLB) Started as Outperform at Oppenheimer.
Staples, Inc. (NASDAQ: SPLS) Started as Buy at BB&T.
Synaptics (NASDAQ: SYNA) Cut to Perform at Oppenheimer.
Weatherford International Ltd. (NYSE: WFT) Cut to Hold at Jefferies.
You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.
JON C. OGG
The Twitter-24/7 Wall St. Daily Stock Watch 3.19
Twitter has, by most estimates, 75 million visitors a month, which makes it one of the largest social networds in the world. All major media companies have a presence on Twitter and some are followed by over one million Twitter users.
24/7 Wall St. will look at the Twitter posts at Reuters Biz, WSJ, Financial Times, CNN Money, MarketWatch, CNBC, and 24/7 Wall St. each day to see which stocks are most frequently mentioned. It is clear that in this area of social media these tweet are a sign of which companies the Twitter universe is interested in. These financial sites are followed by a combined 625,000 Twitter users which makes them a sizeable sample of Wall St.’s interests. In some cases, we will publish the actual tweets from the sites.
Each tweet has the source and the tweet itself.
A great deal of the focus on financial media Twitter pages was on Apple’s (AAPL) iPad and the death of board member Jerome York. Google’s (GOOG) China problems were also mentioned frequently. Earnings from Palm (PALM) and GameStop (GME) were prominent in discussions of corporate financial results
Media Digest 3/19/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: China will send an envoy to the US to discuss the yuan.
Reuters: European carriers who lost money on the Apple (AAPL) iPhone won’t do the same in their deals to sell the iPad.
Reuters: The CBO said the health care plan will cut the deficit.
Reuters: Google (GOOG) may announce its China plan next week. Read More
The Palm Bunt (PALM)
Palm Inc. (NASDAQ: PALM) rose ahead of earnings on short covering with shares posting an unofficial close of $5.65 for a 5.2% gain. The troubled smartphone maker reported earnings at -$0.61 EPS vs -$0.42 EPS expected from Thomson Reuters. The company also noted that non-GAAP revenues were $366.0 million versus closer to $316 million expected.
Today’s Best Market Rumors (3/17/2010)
Updated throughout the day.
Richard Fuld, former CEO of Lehman, feels that the 2,200 page report on the collapse of the firm “vindicates” him (NYPost)
Renaissance Technologies may close two of its funds (WSJ)
Harley Davidson (HOG) will be bought by a private equity firm (Reuters)
HSBC (HBC) may participate in an auction for a $4 billion stake in Korea Exchange Bank (Reuters).
Dubai World will offer to pay banks the full $26 billion that it owes but plans to stretch the payments over several years. (Al Arabiya)
Arrow Energy is allowing Royal Dutch Shell (RDS) and PetroChina (PTR) to examine its book after the two large firms may a $3 billion offer for the Australian operation. (Reuters).
AT&T (T) is delaying its sale of Palm (PALM) handsets. (Barron’s)
Douglas A. McIntyre
The Unusual Suspects (AMLN, LLY, ALKS, ESLR, ENER, DPS, ATHN, SQNM, ABK, NKE, FDX, GME, COMS, PALM)
This week we have several issues to watch. Earnings season is mostly done but there are still many on deck in this week’s unusual suspects. Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN), Eli Lilly & Co. (NYSE: LLY) and Alkermes, Inc. (NASDAQ: ALKS) are still in the ‘pending’ status for FDA. Evergreen Solar (NASDAQ: ESLR), Energy Conversion Devices (NASDAQ: ENER), and Dr. Pepper Snapple Group, Inc. (NYSE: DPS) are all touched in Barron’s. Next week we have AthenaHealth, Inc. (NASDAQ: ATHN), Sequenom In.c (NASDAQ: SQNM), AMBAC Financial (NYSE: ABK), Nike Inc. (NYSE: NKE), FedEx Corporation (NYSE: FDX), GameStop Corp. (NYSE: GME), 3Com (NASDAQ: COMS) and Palm, Inc. (NASDAQ: PALM) are all scheduled to report earnings. We have handicapped the events with basic previews and Thomson Reuters, and we have added color for traders on what else to look for outside of the numbers.
Next Week’s Can’t Miss Earnings (ATHN, SQNM, ABK, NKE, FDX, GME, COMS, PALM)
Earnings season is over. Well, sort of. We have the delayed reports and the reports from companies which have off-regular quarterly or fiscal earnings. Next week we have AthenaHealth, Inc. (NASDAQ: ATHN), Sequenom Inc. (NASDAQ: SQNM), AMBAC Financial (NYSE: ABK), Nike Inc. (NYSE: NKE), FedEx Corporation (NYSE: FDX), Gamestop Corp. (NYSE: GME), 3Com (NASDAQ: COMS) and Palm, Inc. (NASDAQ: PALM) are all scheduled to report earnings. We have handicapped the events with basic previews and Thomson Reuters, and we have added color for traders on what else to look for outside of the numbers.
The Below Average CEO: Olli-Pekka Kallasvuo Of Nokia (NOK)
Average: “an estimation of or approximation to an arithmetic mean”–Webster
Among the public companies in the handset business which trade on US exchanges, Nokia (NOK) has performed the most poorly over the last year. The firm’s shares are up a little over 30% while the DJIA is higher by 50%. Apple (AAPL), RIM (RIMM), and Motorola (MOT) have performed much better over the period. Until a month ago, so had failed smartphone company Palm (PALM).
Nokia’s performance is particularly disappointing since it is the largest handset company in the world with a market share of 38%. Read More
Top 10 Analyst Upgrades and Downgrades (ADCT, CSCO, CCI, FITB, M, PALM, POT, RIMM, X, YHOO)
These are this Monday morning’s top analyst upgrades, downgrades, and initiations seen in early Wall Street research notes:
ADC Telecommunications Inc. (NASDAQ: ADCT) Raised to Neutral at JPMorgan.
Cisco Systems, Inc. (NASDAQ: CSCO) Raised to Overweight at JPMorgan.
Crown Castle International Corp. (NYSE: CCI) Cut to Market Perform at Wells Fargo.
Fifth Third Bancorp (NASDAQ: FITB) Cut to Market Perform at FBR.
Macy’s Inc. (NYSE: M) Raised to Buy at Soleil.
Palm, Inc. (NASDAQ: PALM) Cut to Underperform at Macquarie.
Potash Corp. (NYSE: POT) Raised to Buy at Morgan Joseph.
Research-in-Motion Ltd. (NASDAQ: RIMM) Raised to Outperform at BMO Capital.
US Steel (NYSE: X) Raised to Buy at Goldman Sachs
Yahoo! Inc. (NASDAQ: YHOO) Raised to Outperform at JMP Securities.
You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.
JON C. OGG
Sony Prepares For A Come-From-Behind Defeat
The Holy Grail of consumer electronics devices is one that would combine the best features of the Apple (AAPL) iPad, iPod, and iPhone. Sony (SNE) means to introduce products to challenge the Jobs & Co. devices. The Japanese firm has no other choice. It needs to at least try to be a force in the markets which are dominated by Apple, Nintendo, and the Amazon (AMZN) Kindle, especially after the huge success of its Walkman in the Eighties and early Nineties. Read More
Palm Losing All Friends… S&P Downgrade (PALM, AAPL, NOK, RIMM)
Palm, Inc. (NASDAQ: PALM) has been in trouble. About all that can be said after it recently hit 52-week lows is that it has at least bounced about 5% from its recent lows. Most traders would caution that stocks hitting a new 52-week low rarely do it just one day. Today Standard & Poor’s Ratings Services cut its outlook on Palm to negative from positive.
Today’s Best Market Rumors (3/1/2010)
Updated throughout the day.
Germany and France will help bail out Greece by taking 50% of a 30 billion euro offering by the troubled nation. (various)
Hedge fund NIR Group is being investigated for taking kick-backs in exchange for inflated valuations of its holdings. (NYT)
Apollo Management is the likely winner in a battle to take over bankrupt Dutch chemical firm Lyondell (NYPost)
Dell (DELL) and HP (HPQ) are the likely buyers of Palm (PALM) (Barron’s)
Douglas A. McIntyre
The Unusual Suspects (BRK-B, CH, ECH, NBG, CRXX, COST, TM, F, RDY, MIL, PALM, SIRI)
This coming week we have many key issues coming front and center in our list of “Unusual Suspects.” Some are ongoing issues with mergers and the waves of earnings reports seem to be quieting down considerably. We had big news from Berkshire Hathaway Inc. (NYSE: BRK-B, BRK-B) this weekend and expect more coverage Monday on this. We are also watching The Chile Fund Inc. (NYSE: CH), iShares MSCI Chile Investable Market Index (NYSE: ECH), and National Bank of Greece SA (NYSE: NBG) for international macroeconomic and social events. We also have coming events this week in CombinatoRx, Incorporated (NASDAQ: CRXX), Costco Wholesale Corporation (NASDAQ: COST), Toyota Motor Corp. (NYSE: TM) and Ford Motor (NYSE: F). Other issues to watch closely this week are Dr. Reddy’s Laboratories Ltd. (NYSE: RDY), Millipore Inc. (NYSE: MIL), Palm Inc. (NASDAQ: PALM) and SIRIUS XM Radio Inc. (NASDAQ: SIRI).
We have given some wide expectations, issues to watch, and background data on each stock for this coming week.
Day Trader & Active Trader Alerts (AIG, ATHN, CKR, CROX, DECK, PALM, SIRI, INET)
This morning’s top movers for day traders and active traders are seen in the following:
- American International Group, Inc. (NYSE: AIG) down over 5%
- athenahealth, Inc. (NASDAQ: ATHN) down 11%
- CKE Restaurants Inc. (NYSE: CKR) up 25%
- Crocs, Inc. (NASDAQ: CROX) down 9%
- Deckers Outdoor Corp. (NASDAQ: DECK) up 8%
- Palm Inc. (NASDAQ: PALM) up 0.5%
- SIRIUS XM Radio Inc. (NASDAQ: SIRI) up almost 1%
We have given some brief pre-market data, a news summary and color on each of these that can be found here over at VSInvestor.com.
Elsewhere, Internet Brands, Inc. (NASDAQ: INET) is showing up on the NASDAQ pre-market gainers as more than up 100% on 5,000 shares. The difference here is that the pre-market trading indications do not match up with this.
Have a great trading day!
-The 24/7 Wall Street Team
Palm Moves Further Down The Road To Obscurity
Palm (PALM) may not be dead, but it is dying. It could not survive that ongoing success of smartphone leaders Apple (AAPL) and RIM (RIMM). The iPhone and Blackberry just keep gaining sales are remarkably speed.
Palm updated its guidance today and the news was bad. It expects that revenues for the third quarter of fiscal year 2010 will be in the range of $285 million to $310 million. Revenues for the quarter and full year are “being impacted by slower than expected consumer adoption of the company’s products that has resulted in lower-than-expected order volumes from carriers and the deferral of orders to future periods. Palm expects fiscal year 2010 revenues to be well below its previously forecasted range of $1.6 billion to $1.8 billion.” Read More
Top 10 Analyst Upgrades and Downgrades (BRCD, GLW, DISCA, FSLR, KFT, MIR, PAAS, PALM, RIMM, TKC)
These are this morning’s top ten analyst upgrades, downgrades, and initiations seen in Wall Street research calls this Tuesday:
Brocade Communications (NASDAQ: BRCD) Cut to Hold at Jefferies; Cut to Hold at Stifel Nicolaus.
Corning inc. (NYSE: GLW) Cut to Perform at Oppenheimer.
Discovery Communications (NASDAQ: DISCA) Cut to Equal-weight at Barclays.
First Solar Inc. (NASDAQ: FSLR) Started as Sell at Wunderlich.
Kraft Foods Inc. (NYSE: KFT) Started as Outperform at Credit Suiise.
Mirant Corporation (NYSE: MIR) Cut to Sell at UBS.
Pan American Silver (NASDAQ: PAAS) Started as Outperform at BMO Capital.
Palm Inc. (NASDAQ: PALM) Started as Hold at Stifel Nicolaus; Cut to Underperform at BofA/Merrill Lynch.
Research-in-Motion (NASDAQ: RIMM) Started as Buy at Stifel Nicolaus.
Turkcell (NYSE: TKC) Cut to Sell at Goldman Sachs.
You are invited to join our free daily email distribution list to hear about top analyst upgrades and downgrades, IPOs and secondary offerings, ongoing day trader and options trader alerts, stock and market rumors, Buffett and guru investor news, M&A and more.
JON C. OGG
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Today’s top tickerspy Indexes Regional Bank Sto... +1.4% Hospital Stocks +1.1% Rubber and Plasti... +1.0% Casino Stocks +1.0% Hotel Stocks +0.9% 
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- Philippines Needs To Spend $87 Billion On Infrastructure Over 15 Years To Spur Growth
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