Another Dagger Into Housing’s Heart: Defaults Rise
There has been a great deal of data from the federal government that people who have received modified mortgages end up defaulting on those home loans. The number is estimated at 30% to 40%.…
All Work
Douglas A. McIntyre
Many Americans Think Oil Spill Damage Will Be Permanent
The two most pessimistic views of the BP plc (NYSE: BP) disaster are that the flow of oil from the well cannot be stopped by human intervention and that the environmental damage from the…
Media Digest (6/16/2010) Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Credit rating agencies will not be heavily regulated under the new financial reform bill. Reuters: AT&T (NYSE: T) had privacy problems with its iPhone 4 order system. Reuters: The EU, IMF, and US…
Government Ups Daily Deepwater Spill Rate To 60,000 Barrels
Every time the government releases new data on the rate at which the Deepwater Horizon rig is leaking, the figure doubles. Today, the Deepwater Horizon Incident Joint Information Center reported that the rate at…
The Oil Industry Says It Can Regulate Itself
“Badges? We ain’t got no badges. We don’t need no badges! I don’t have to show you any stinkin’ badges!”–The Treasure of the Sierra Madre, 1948 A former Shell Oil Co. President John Hofmeister…
Builder Confidence Flags, Housing Double Dip
The double dip in housing has caught up to another important player. The National Association of Home Builders/Wells Fargo Housing Market Index dropped sharply in June. Recently, mortgage application dropped another week-the fifth in…
Will The Pilot’s Strike Push Spirit Into Bankruptcy?
Spirit Airlines is currently closed down due to a strike by its pilots. The carrier announced today that the shutdown will continue at least through Thursday. The work stoppage could go on much longer.…
Treasury: Money Still Finding Its Way Into The US
The US probably became a significant draw for “safe have” seeking money in April. That was probably more true in May. The results of foreign investment is American assets was released by The Treasury…
Today’s Best Market Rumors (6/15/2010)
Updated throughout the day. US lawmakers may not put tough restrictions on credit rating agencies. (Reuters) Zynga Network, the maker of games for social networks, has landed 13.5 billion yen from Softbank. (Bloomberg) Douglas…
A Tale of Four Stock Market Decades
By John Tamny of Forbes This one argues that the ’20s stock market resembles the ’90s, and the ’70s resembles the market of the decade just passed. It seems the dollar’s direction versus gold…
The Twitter-24/7 Wall St. Stock Market Report 6.15.2010 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…
Pre-Market Movers (NLST)(JAZZ)(DRYS)(CCNE)(LOGI)
Stocks moving up in the pre-market: Netlist (NASDAQ: NLST), Jazz Pharmaceuticals (NASDAQ: JAZZ), Hercules Offshore (NASDAQ: HERO), Clearwire (NASDAQ: CLWR), Ericsson (NASDAQ: ERIC), and DryShips (NASDAQ: DRYS) Moving down:
Analyst Upgrades And Downgrades
BP plc (NYSE: BP) was downgraded by Fitch. JPM Securites downgrades Eli Lilly (NYSE: ELY) to market perform. Rosetta Resources (NASDAQ: ROSE) downgraded to neutral by SunTrust Callaway (NYSE: ELI) downgraded to market perform…
24/7 Wall St. Ten Brands That Will Disappear in 2011
24/7 Wall St. has created a new list of brands that will disappear, which includes Readers Digest, Kia Motors, Dollar Thrifty (NYSE: DTG), Zale (NYSE: ZLC), Blockbuster (NYSE: BBI), T-Mobile, BP plc (NYSE: BP),…
China’s Two-Headed Labor Problem
China’s Premier Wen Jiabao says that workers should be treated better. Jiabao’s comments come in light of a series of strikes at Honda Motor (NYSE: HMC) plants and supplier facilities. He should be careful…
Apple iPhone Available In Any Color As Long As It Is Black
People who want to order the new iPhone from Apple Inc.’s (NASDAQ: AAPL) online store can do so now, as long as they are willing to get the phone with a black finish. No…
China Real Estate: A Bubble Is Not A Bubble Until The Money Runs Out
Many of China’s banks and financial regulators are concerned that real estate prices in the People’s Republic are too high. This is not a new assertion. Investor and analysts around the world have been…
A $20 Billion Check From BP plc?
BP plc (NYSE: BP) faces what may be the hardest decision in its history. The U.S. government has supposedly asked for a $20 billion escrow fund to cover clean-up costs and other liabilities stemming…
Media Digest 6/15/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Credit agencies may not be badly damaged in the financial reform bill. Reuters: Moody’s (NYSE: MCO) cut Greece’s rating to junk. Reuters: The euro dropped on profit taking. Reuters: Oil moved above $75.
Rumor Of The Day: RIM To Offer New Tablet PC And Blackberry
Rumors have begun to circulate that Research In Motion (NASDAQ: RIMM) will launch a new BlackBerry and a tablet PC to compete with Apple Inc.’s (NASDAQ: AAPL) iPad and iPhone. According to The Wall…