Active Stock Trader Alerts 9/24/2010
AMD (NYSE: AMD) is up 2% after lowering its earnings forecasts Vical (NASDAQ: VICL) down 14% on late stage drug trial failure. ARM Holdings (ARMH) up 7% on buyout rumors. Sirius XM (NASDAQ: SIRI)…
All Work
Douglas A. McIntyre
Major Analyst Upgrades/Downgrades (9/24/2010) (AMTD)(CSX)
Piper Jaffray upgrades shares of Kenexato Overweight and raised the its target to $29 from $13. BNP Paribas was downgraded to “equal weight” from “overweight” by Morgan Stanley on valuation grounds Natixis SA was…
Oracle–The Next IBM
Oracle’s (NASDAQ: ORCL) revenue run rate is about $60 billion a year. That compares to $100 billion for IBM (NYSE: IBM) and Hewlett-Packard (NYSE:HPQ). Oracle has advantages as it attempts to catch its two…
Spain’s Turn To Compound Eurozone’s Trouble
The will of the Spanish to hold to their austerity plan has begun to be questioned. The nation’s finance minister, Elena Salgado, will present her budget for the next year shortly. Capital markets investors…
The Rapid Growth Of Layoffs In Pharma, As Industry Despairs Of Its Future
Bristol-Myers Squibb (NYSE: BMY) will cut nearly 1,000 workers. That is on top of large rounds of firings in 2007 and 2008. The company gave an odd reason for the action.”The ultimate goal of…
Free Budweiser For 500,000 People
Anheuser-Busch InBev plans to give out 500,000 free samples of Budweiser beer over the next few weeks. The offer will target upscale bars and restaurants. According to Reuters, “In addition to the free samples,…
Media Digest (9/24/2010) Reuters, WSJ, NYT, FT, Bloomberg
Reuters: Petrobras raised $70 billion in the largest stock offer in history. Reuters: There will likely be no tax cut before the election, according to Democrats Reuters: Obama asked the Chinese premier for more…
Petrobras Prepares to Price Shares in Largest-Ever Stock Offering
Just over a week ago, Petroleo Brasileiro SA, Petrobras, (NYSE: PBR) reached an agreement with the Brazilian government over how much the company would pay for the right to develop the so-called offshore pre-salt…
Republican Economic Plan Is More Of The Same
Republicans today unveiled the economic agenda they will pursue if they take over one or both Houses of Congress, as many expect they will, that was long on dramatics and short on substance. The…
Why Warren Buffett Is Right About The Recession And Economists Are Wrong
Warren Buffet, who appears on CNBC so often that he probably gets invited to its holiday party, told the cable channel’s Becky Quick this morning what anyone who has a pulse already knows —…
China Premier Pushes Back On Yuan
Chinese Premier Wen Jiabao pressed his case that the yuan had little to do with trade deficits and joblessness in the US. His comments come just as the Ways and Means Committee prepared to…
Blockbuster’s Chapter 11 May Be Inadequate
Blockbuster filed for Chapter 11 as expected. The rental chain declared that it reached agreement with a group of bondholders holding approximately 80.1 percent principal amount of the company’s 11 3/4 percent senior secured…
Europe, Its Growth Crippled, Becomes A Global Concern Again
Europe’s growth has begun to slow, which will raise fresh questions about whether debt issued by the nations in the region has become risky again. Or, it may have been risky all along. Concerns…
E-Reader Demand Explodes, For Now
The demand for e-readers is nearly insatiable and the trend is likely to continue, at least for a little while. People with e-readers read more, which is good for the e-book industry. “Overall, two…
SEC Calls Timing Of Goldman Investigation “Suspicious”, But It Doesn’t Matter
The SEC Inspector General said the the timing of a fraud case against Goldman Sachs Group was “suspicious” and may have been used to cover its mistakes in failing to discover a Ponzi scheme…
Media Digest (9/23/2010) Reuters, WSJ, NYT, FT, Bloomberg
Reuters: The Chinese premier said he would not succumb to pressure from the US on the value of the yuan. Reuters: An SEC watchdog said the timing of the charges against Goldman Sachs Group…
Starbucks Raises Prices
Attention hipsters and wannabe hipsters: the price of your finely crafted Starbucks Corp. (NASDAQ: SBUX) caffeinated beverage is going up. Starbucks Chief Executive Howard Schultz, who has lead a remarkable turnaround at the Seattle-based…
Bye, Bye Blockbuster; It Was Fun While It Lasted
Blockbuster Inc. is going bust. The struggling movie rental outfit is set to file for Chapter 11 bankruptcy tomorrow and receive $125 million in debtor-in-possession financing to forestall the inevitable liquidation, according to Bloomberg…
UBS Makes A Good Call On The New York Times
Too often, most Wall Street analysts are a day later and a dollar short. UBS analyst John Janedis, however, managed to get it right about the New York Times Co. (NYSE: NYT). Janedis, one…
Still No Evidence Of A Housing Recovery
“U.S. house prices fell 0.5 percent on a seasonally adjusted basis from June to July, according to the Federal Housing Finance Agency’s monthly House Price Index. The previously reported 0.3 percent decline in June…