Next-Gen iPhone Rumors Heat Up (AAPL)
Now that Apple Inc. (NASDAQ: AAPL) has reported huge quarterly revenues and profits, everyone can get back to chasing the rumors on the next product that will be coming out of Cupertino. First in…
All Work
Paul Ausick
George Soros Disagrees with Angela Merkel
In yet another speech at the Davos World Economic Forum today, investor George Soros has said that the Eurozone is caught in a “spiral of decline” and if the member nations don’t take some…
Mobile Ad Spending to Grow by 80% This Year (GOOG, AAPL)
Research firm eMarketer has estimated that the total mobile advertising spend in 2011 reached $1.45 billion, up from about $770 million in 2010. The firm forecasts that total spending will hit $2.61 billion in…
Merkel’s Davos Speech More of the Same
German Chancellor Angela Merkel officially opened the Davos World Economic Forum this morning, telling the crowd that she is “absolutely convinced” that the Eurozone will escape from its current crisis. As usual, the devil…
J.C. Penney Offers New Plan to Regain Profitability (JCP)
Ron Johnson, the new CEO at J.C. Penney Co. (NYSE: JCP) has announced his new plan to rejuvenate the company and its profits. In a press release announcing the plan Johnson said: The department…
Morgan Stanley Chief Tells Employees to Quit Whining (MS)
Morgan Stanley (NYSE: MS) chairman and CEO James Gorman has told the bank’s employees that the world has changed and that they had better get used to the idea. Morgan Stanley plans to reduce…
Einhorn, Greenlight Fined $11.2 Million in UK
The UK’s equivalent of the Securities and Exchange Commission, the Financial Services Authority, has fined David Einhorn and his hedge fund, Greenlight Capital, a total of $11.2 million for what the FSA calls “market…
Facebook Halts Trading on Secondary Market
Shares of Facebook have been halted on the pre-IPO secondary market until January 27th at the request of the company. Trades can still be made, but won’t be processed until that date according to…
US Pending Home Sales Index Falls
The National Association of Realtors has released its pending home sales index for December. The index reading fell from 100.1 in November to 96.6, a drop of -3.5%. Year-over-year, though, the index is still…
US Carbon Emissions Declining
US carbon emissions are expected to be 7% lower in 2020 than they were in 2005 according to the preliminary release of the US Energy Information Administration’s Annual Energy Outlook 2012. The reason for…
Michael Dell Talks His Book (DELL)
Dell Inc. (NASDAQ: DELL) CEO Michael Dell told Bloomberg News that the company is doing well in the global PC market. The company’s sales grew by 7.8% in the fourth calendar quarter of 2011…
Toyota Boosts Sales Forecast (TM, GM)
Japanese automaker Toyota Motor Corp. (NYSE: TM) has raised its 2012 annual global sales forecast to 8.58 million units, an increase of 100,000 from the company’s previous forecast. Toyota expects to sell the additional…
Morning Movers (ILMN, ERIC, GLW, PJC, INCB)
There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Illumina Inc. (NASDAQ: ILMN), LM Ericsson Telephone Co. (NASDAQ: ERIC), Corning…
New Mortgage Applications Drop 5%
Applications for new mortgages dropped -5% last week according to the Mortgage Bankers Association. Refinancings also fell by -5.2%. The figures are adjusted to account for the Martin Luther King Jr. holiday; unadjusted, new…
Economist Roubini Rattles Davos
During an interview at the Davos World Economic Forum, economist Nouriel Roubini, aka Dr. Doom, said that without “massive monetary easing” from the European Central Bank the Eurozone is not likely to escape its…
Portuguese Yields, CDS Hit Record Highs
Yields on Portugal’s 3-, 5-, and 10-year bonds hit record highs this morning and the credit default swaps (CDS) that insure those bonds also posted a record. Expectations are high that Portugal will default…
Morning Wire — US Stock-Index Futures Mostly Lower
US index futures are trending lower this morning, although the Nasdaq Composite is defying the trend by posting a decent gain. That’s mostly due to the stellar earnings report from Apple Inc. (NASDAQ: AAPL)…
Amazon to Take on Netflix — New York Post (AMZN, NFLX)
Amazon.com (NASDAQ: AMZN) is reportedly considering creating a stand-alone subscription streaming video service to compete directly with Netflix Inc. (NASDAQ: NFLX). Amazon’s current streaming service is including with a $79 annual subscription to the…
Boeing Hammers EPS Estimate (BA)
Aircraft maker Boeing Co. (NYSE: BA) absolutely crushed the consensus estimate for quarterly EPS this morning, reporting EPS of $1.84 versus estimates of $1.01. Revenue for the quarter totaled $19.6 billion compared with a…
United Technologies Mostly Meets Estimates (UTX, GR)
United Technologies Corp. (NYSE: UTX) reported fourth quarter and full year earnings before the market opened this morning. The company posted quarterly EPS of $1.47 on revenue of $14.97 billion. The consensus estimate called…