Another Advantage to Facebook for Being First
The widely expected IPO filing from social media company Facebook may hit the street this week in an offering that could value the company at more than $85 billion. There are a lot of…
All Work
Paul Ausick
ADM Misses Estimates Badly (ADM)
Ag products giant Archer Daniels Midland Co. (NYSE: ADM) posted second fiscal quarter results this morning and the company is in for a rough ride in the equities market today. In what ADM’s CEO…
Lilly Earnings Dive on Patent Expiration (LLY)
Drug maker Eli Lilly & Co. reported fourth quarter and full year earnings this morning, and although revenues were higher than expected, net income fell and EPS missed estimates. Lilly lost patent protection on…
Solar Tariff Would Cost 50,000 US Job Losses (FSLR, SPWR)
A US industry-group that opposes the trade case filed against Chinese solar panel makers commissioned a study to provide an estimate of the number of job losses such a tariff would cost the US.…
24/7 Wall St. Closing Bell (K, SPLS, TWX, AAP, AZO, JPM, GCI, SIFY, WEN, ONB, GTXI, PBY, TNB, CTIC, PMC)
All three major indexes opened lower again today on weak markets in both Europe and Asia. European markets continued to be weighed down by the lack of a firm agreement on the Greek debt…
Business Lending Picks Up
The Federal Reserve Bank’s survey of lenders indicates that businesses might indeed be getting back to busines. Lending at 17 of 56 reporting banks rose in the fourth quarter or 2011, while lending slowed…
Spotify Music Streaming Starting to Catch On (P, SIRI)
Music streaming provider Spotify just announced that it has reached a milestone of 3 million paid subscribers and about 15 million total users. That’s a pretty good numbed, but competitors Pandora Inc. (NYSE: P)…
Mid-Afternoon Movers (GTXI, PBY, TNB, CTIC, PMC)
At mid-afternoon, we’ve seen some changes among today’s big movers. On the plus side are GTX Inc. (NASDAQ: GTXI), Pep Boys – Manny, Joe and Jack (NYSE: PBY), and Thomas & Betts Corp. (NYSE:…
US Refineries Threatened by Strike (XOM, VLO, RDS-A, MPC)
The United Steel Workers union could authorize a strike against US refineries that produce about one-third of the country’s daily refined products demand of 19 million barrels. The strike deadline is midnight on the…
BP-operated North Sea Oil Well Shut-in (BP, MRO)
BP plc. (NYSE: BP) has shut-in a 43,000 barrel/day well in a North Sea field following the discovery of a small crack in a connecting pipeline. The leak has stopped and there is no…
MF Global’s Missing $1.2 Billion ‘Vaporized’
The Wall Street Journal reports that the $1.2 billion that remains unaccounted for following the bankruptcy file of MF Global may be lost forever. As one source told the WSJ, “a ‘significant amount’ of…
US Still Needs to Collect $133 Billion in TARP Funds (AIG, GM)
The Troubled Asset Relief Program (TARP) doled out more than $700 billion in 2009 and 2010, mostly to aid troubled banks boost their liquidity. More than $500 billion has been repaid, with interest, but…
Mid-day Movers (TNB, PBY, AMLN, GTXI, GCI)
Among the major movers at around noon today are Thomas & Betts Corp. (NYSE: TNB), Pep Boys — Manny, Joe & Jack (NYSE: PBY), Amylin Pharmaceuticals Inc. (NASDAQ: AMLN), GTX Inc. (NASDAQ: GTXI), and…
New Hires Jump in High Tech (AAPL, GOOG, AMZN, WWWW, RVBD)
Over the past two years, Apple Inc. (NASDAQ: AAPL), Google Inc. (NASDAQ: GOOG), and Amazon.com (NASDAQ: AMZN) have increased their workforces by more than 50%. The biggest jump came at Web.com Group Inc. (NASDAQ:…
Honda Takes to the Sky (HMC, TXT, ERJ, GE)
Auto and motorcycle maker Honda Motor Corp. (NYSE: HMC) in nearing the end of the certification process for its business jet, and expects to have production ramped up to about 80 planes a year…
US Oil Well Completions Rose 10% in Fourth Quarter
The American Petroleum Institute (API) reports that oil well completions rose 10% in the fourth quarter of 2011 to 6,149. Total wells completed in the quarter fell slightly quarter-over-quarter, from 10,487 in the third…
Morning Movers (GTXI, PBY, TNB, CTIC, PMC)
There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include GTX Inc. (NASDAQ: GTX), Pep Boys — Manny, Joe & Jack…
Defense Firms Up Lobbying in Face of Pentagon Cuts (LMT, GD, RTN, NOC)
Government contractors Lockheed Martin Corp. (NYSE: LMT), General Dynamics Corp. (NYSE: GD), and Raytheon Co. (NYSE: RTN) increased their lobbying costs by 10% in 2011, to $33.4 million, as the US defense budget faces…
Japan’s Debt, Bond Rates Rise
Japan’s debt burden in 2012 will rise to more than 200% of the country’s expected GDP, putting it above the ratio of debt to GDP of Greece, Italy, and the US. That’s not a…
Morning Wire — US Stock-Index Futures Lower
US index futures are lower this morning as discussions between Greece and its bondholders continue to work on the debt swap deal. The Greek government is feeling the pinch as a German official has…