The Treasury is making the case that the financial industry needs $700 billion to take toxic assets off bank balance sheets. This should free up liquidity and ease credit problems. Treasury Secretary Henry Paulson…
No one has checked the water on Wall St. for traces of LSD and other hallucinogens. First, financial firms bet huge sums of their money on arcane mortgage-related paper and lost hundreds of billions…
According to Reuters, Bush called an emergency meeting of Congressional leaders to push through bank bailout legislation. Reuters reports that Goldman Sachs (GS) and Morgan Stanley (MS) are preparing to take advantage of their…
Markets in Asia were mixed. The Nikkei fell .9% to 12,009. Honda (HMC) fell almost 4%. Toyota (TM) fell over 2%. The Hang Seng rose a fraction to 18,972. China Life (LFC) rose almost…
The cut-off for the last short interest data was September 15, before a number of financial stocks got protection from the SEC. Before the ban, short sellers were already moving out of some bank…
Philip Morris USA, part of Altria Group Inc. (NYSE: MO), has filed a rather interesting lawsuit which could act to set the precedent for case law for years ahead. Big Tobacco asked a federal…
This might not be the biggest of biotech mergers out there, but deals are continuing in the bio-space. Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) has entered into a definitive merger agreement to acquire Pharmacopeia (NASDAQ:…
As media reports started commenting today, it looks like both Presidential candidates are going to stop campaigning and go back to Washington D.C. to deal with this government bailout issue. John McCain is heading…
NIKE, Inc. (NYSE: NKE) reported quarterly revenue rose 17% to $5.4 billion, although currency changes increased growth by 7%. Net income fell 10% to $510.5 million, as earnings per shareh fell 8% to $1.03. …
Red Hat, Inc. (NYSE: RHT), the largest seller of Linux operating systems and office suites, today reported that quarterly revenue soared 29% revenue to $164.4 million. It posted non-GAAP earnings of $0.20 per share. …
Pilgrim’s Pride (PPC) Company says it will have lay-offs. Drops to $6.06 from 52-week high of $35.98. Medicis Pharmaceutical (MRX) Firm says it will restate financials. Falls to $14 from 52-week high of $32.18.…
Oppenheimer’s star banking analyst Meredith Whitney is already keying in on Goldman Sachs Group’s (NYSE: GS) plans to raise cashs and shore-up its liquidity. She has noted that the $5 billion public stock offering…
Between the credit markets and consumer spending, GM (GM) is caught in a vise. The car company needs more money and Congress seems less inclined with each passing day to want to hand out…
SiRF Technology Holdings Inc. (NASDAQ: SIRF) has just made a mid-day mystery move on essentially no news. It seems that traders are tying it to the G1 phone launch from Google based upon an…
Daimler AG has confirmed that it is in talks with Cerberus over the possible redemption of the 19.9% stake it still has in Chrysler LLC. That would put Chrysler back entirely in US hands,…