Today’s Best Market Rumors (7/16/2010)
Updated throughout the day. Apple Inc (NASDAQ: AAPL) will not recall its iPhone 4 (various) Two private equity groups will make final bids in a $1.6 billion battle for control of Healthscope (Reuters) Douglas…
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Douglas A. McIntyre
The Twitter-24/7 Wall St. Stock Market Report 7.16.2010 The Wisdom Of Crowds
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
GE Improves: Energy Ops Drag, NBCU Bright Spot
GE announced today second-quarter 2010 earnings from continuing operations (attributable to GE) of $3.3 billion, with EPS of $0.30 per share up 15% from the second quarter of 2009. Revenues were $37.4 billion for…
24/7 Wall St. CEOs Who Need to be Fired: Nine for 2010
Public companies dismiss CEOs all the time. The firings can be due to incompetence, malfeasance, or tensions with boards of directors or founders. 24/7 Wall St. has chosen nine sitting CEOs who should be let…
As Apple Fixes One iPhone Problem, Another Looms
Apple Inc (NASDAQ: AAPL) will have its big press conference today. Ahead of the event the company is in the midst of offering software and other solutions to weak signal and false signal readings…
Half Of Social Network Users Fear Privacy Issues As They Should
Many users of social media networks are worried that the companies that own the networks “spy” on them. Most of these privacy issues have to do with the websites giving marketers information about the…
As Goldman Settles, Main Street Loses
It is too easy to say that the average American expects law-breakers to go to prison or at least receive extreme punishment. Neither of those things happened in the SEC settlement with Goldman Sachs…
Video Game Sales Remain Depressed, Wii Loses Ground
Video game sales were down again in June. The introduction of new games and cut in console prices by Microsoft Corporation (NYSE: MSFT), Sony (NYSE: SNE), and Nintendo (OTC:NTDOY) have been trumped by faltering…
Media Digest 7/16/2010
MarketWatch: AgBank rose after its debut on the Hong Kong market. Reuters: Goldman Sachs Group (NYSE: GS) settled with the SEC for $550 million. Reuters: BP plc (NYSE: BP) capped the flow of oil…
Goldman Sachs Settles With SEC For Mere $550 Million, Shares Rise
The SEC once again proved that it cannot complete a large case against a major company. In a settlement that looks like those that it made with Bank of America (NYSE: BAC) over disclosures…
European Auto Sales Continue to Slide
Sales of new cars in Europe, as measured by new car registrations, dropped in June for the third consecutive month. The slide is attributed to the end of what the Europeans call scrappage plans,…
Chinese Banking Woes
The Agricultural Bank of China, AgBank, began trading on the Shanghai stock exchange yesterday, and the results were mixed. The A-shares opened at 2.74 yuan/share before closing at 2.7 yuan/share (about $0.40). At the…
Today’s Best Market Rumors (7/15/2010)
Updated throughout the day. Goldman Sachs Group (NYSE: GS) and the SEC have had settlement talks (WSJ) Steve Jobs will at a Friday news conference about iPhone 4 performance (various) Hewlett-Packard (NYSE: HPQ) has…
The Twitter-24/7 Wall St. Stock Market Report 7.15.2010 The Wisdom Of Crowds
Twitter has, by most estimates, 100 million members, which makes it one of the largest social networks in the world. All major media companies are on Twitter and some have more than one million…
JPMorgan Chase (JPM) Beats
JPMorgan Chase & Co. (NYSE: JPM) reported its second-quarter net income soared 77 percent to $4.8 billion as a slowdown in losses from failed loans helped offset a difficult spring in trading and investment…
More Real Estate Trouble: Foreclosures Hit 1.65 Million in First Half
The number of foreclosures in the US hit 1.65 million in the first half. That is an increase of 8% from the same period last year, and a 5% decrease from the previous six…
The Question Emerges Again: What If The Well Can’t Be Capped
BP plc (NYSE: BP) was going to put a new cap on its well which is leaking as much as 60,000 barrels a day of crude into the Gulf of Mexico. Then, that plan…
Economic Confidence Slips As Problem Becomes Center Of Attention
Concerns about the economy ran well ahead of those about the environment and the clean up in the Gulf. That should not be a surprise because there is a great deal of evidence about…
Global PC Sales: Dell Fights Back
Research firm IDC reported that global PC sales rose 22.4% in the second quarter as many companies and individuals replaced older computers. Europe’s demand rose, which will not continue into the second half of…
China And The US, Economies Move In Different Directions
China reported that its economy expanded by 11.1% in the first half and “only” 10.2% in the second quarter. That was viewed by most analysts as a “slowing’ although it is the envy of…