24/7 Wall St. » CLAY

Media Digest 1/28/2008 Reuters, WSJ, NYTimes, FT, Barron’s

247wallst — Mon, 28 Jan 2008 04:14:22 +0000

According to Reuters, gaps in controls at Societe Generale allowed a junior trader to make at $73 billion losing bet on European shares prices.

Reuters writes that Countrywide’s (CFC) CEO will give up $37.5 million in payments.

Reuters writest that the NY Attorney General has begun an investigation into research done by Merck (MRK) and Schering-Plough (SGP) on their cholesterol drug Vytorin.

The Wall Street Journal writes that Countrywide bond-holders are worried that they will not get full value for their investments after the Bank of America (BAC) takeover.

The Wall Street Journal reports that Cisco (CSCO) is introducing new products to simlify data centers.

The Wall Street Journal writes that the NY Attorney General will get cooperation from Clayton Holdings (CLAY) in his investigation into whether investment banks disclosed enough to investors about mortgage-related securities.

The Wall Street Journal writes that AMD (AMD) is marketing a new graphics card aimed at Nvidia (NVDA).

The Wall Street Journal writes that Sony Ericsson has launched its own online music service for mobile phones.

The New York Times writes that SLM (SLM) has settled its suit over an aborted takeover of the company.

The New York Times writes that a hedge fund is trying to get four seats on its parent company’s board.

The FT writes that Singapore”s sovereign funds has pledged more transparency.

Barron’s writes that many 2007 IPOs lost a substantial part of their value.

CNN Money writes that gas prices fell slightly last week.

Douglas A. McIntyre

The 52-Week Low Club

247wallst — Mon, 29 Oct 2007 15:02:06 +0000

Office Depot (ODP) Super bad earnings. Drops to $16.51 from 52-week high of $42.61.

Time Warner Cable (TWC) Fears that telecom broadband is taking customers pulling down all cable shares. Down to $28.35 from 52-week high of $44.

Clayton Hldgs (CLAY) Supplies services to mortgage industry. Can’t win in that business now. Dreadful earnings. Down to $4.25 from 52-week high of $24.30.

Jamba Inc (JMBA) Retailers of the famous Jamba Juice. But are not selling enough of it. Earnings below expectations. Falls to $5.34 from 52-week high of $12.25.

Douglas A. McIntyre

Clayton Holdings (CLAY): A New Low

247wallst — Mon, 29 Oct 2007 10:38:29 +0000

Clayton Holdings (CLAY) provides outsourced services, mortgage-related analytics, and specialized consulting services for buyers and sellers of mortgage-related loans and securities, and other debt instruments. It sounds like a tough busines to be in now, and Clayton proved just how tough today.

After announcing poor earnings, the stock was downgraded by JPM Securities. Revenue at CLAY fell 47% to $31 million. The company had net income of $3.1 million in the third quarter last year. This year the frim swung to a loss of $2.8 million.

Owning the shares has been like watching a house burn to the ground. From a 52-week high of $24.30, the shares are down to $4.25 today.

Douglas A. McIntyre