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,…
All Work
Douglas A. McIntyre
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…
Media Digest 7/15/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: BP plc (NYSE: BP) has begun to run an important test on its well cap. Reuters: China’s economy expanded at 11.1% in 1H but closed in Q2. Reuters: GlaxoSmithKline (NYSE: GSK) expects $2.4…
Oil Keeps Gushing, As US Dithers
BP plc (NYSE; BP) has delayed putting its new cap in place over the pipe that is spewing oil 5,000 feet below the Gulf of Mexico’s surface. It believes that it can begin to…
GE’s Immelt–A Strategic Retreat
Three weeks ago, GE (NYSE: GE) CEO Jeff Immelt made a uncharacteristic attack on China’s business policies.“I am not sure that in the end they want any of us to win, or any of…
4.7 Workers For Every Job
The Labor Department said that in May there were 4.7 workers looking for work for each available job. Hiring rose during the month, but it due to Census workers getting temporary jobs. The market…
The Trade Gap And The Yuan, Gone And Forgotten
For some reason, the huge trade gap announcement did not stir much concern in Congress about the value of the yuan. The figure rose to $42.3 billion in May. Instead of focusing on the…
The American Ecomomy Can Heal Itself, If Only The Economy Would Help
The stock market is back to where it was a month ago. The frightening sell-off is over. Now that Intel (NASDAQ: INTC) has posted spectacular results, Wall St. believes that both the consumer and…
Media Digest 7/14/2020 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: The financial reform bill should pass within days. Reuters: Intel (NYSE: INTC) posted stronger than expected earnings. Reuters: Toyota Motor (NYSE: TM) blamed driver error for some problems with recalled cars. Reuters: GlaxoSmithKline…
Outsourcing Firms Might Face Cost Crunch (INFY, WIT)
The three largest firms in the outsourcing business are based in India. The leader is Tata Consultancy Services, followed by Infosys Technologies Ltd. (NASDAQ: INFY) and Wipro Ltd. (NYSE: WIT). Infosys has reported a…
BP and Exxon Mobil to Merge? Don’t Bet on It
By John Hudson Amid speculation that Exxon Mobil and Chevron are looking to prepare a hostile bid for BP, the troubled oil giant is trading at its highest level since June 8. But is…
Chevron Expects Improved Profits on Refining Gains (CVX, BP, XOM, COP)
Chevron Corp. (NYSE: CVX) has released its interim update for the 2010 second quarter ahead of its earnings release scheduled for July 30th. Chevron expects earnings to rise about first quarter earnings on “significantly…