China And The Deepwater Horizon: Oil’s Inexorable Move To $100
Oil trades up near $87 today, and it is bound to move toward $100 this month. The estimates for the Deepwater Horizon incident now range as high as 100,000 barrels a day if the…
All Work
Douglas A. McIntyre
24/7 Wall St.’s Corporate Power Rankings: Week 16
The 24/7 Wall Street Corporate Power Rankings of the thirty-two most important companies in America are determined by earnings, analyst rankings, important corporate news, trends in each firm’s industry, product introductions, management strength and…
The Futility Of Oil Spill Cost Estimates
The Wall St. estimates of the cost of the BP Deepwater Horizon oil spill catastrophe are these: Analysts at Morgan Stanley put the figure at $3.5 billion, while analysts at Citigroup, Evolution Securities and Panmure…
Media Digest 5/3/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: UAL (NASDAQ: UAUA) and Continental’s (NYSE: DAL) boards approved a merger. Reuters: Investors are concerned about the Greek rescue package. Reuters: Buffett of Berkshire Hathaway (NYSE: BRK.B) defended Goldman Sachs Group (NYSE: GS) and was…
Greek Bailout Set, Papandreou Faces Challenges To Remain Premier
The Eurozone nations and IMF have bailed out Greece to the tune of more than $146 billion dollars, and Greece faces budget cuts of $40 billion over the next three years as it attempts to…
New Technology May Cut Oil Leak As Legal Actions Against BP Grow
Experts attempting to slow the flow of oil from the Deepwater Horizon rig collapse may have found a way to slow the pace at which oil reaches the surface of the Gulf of Mexico.…
Johnson & Johnson Announces Children’s Tylenol Recall
McNeil Consumer Healthcare, a division of Johnson & Johnson Inc (NSYE: JNJ), announced a voluntary recall of some of its OTC products sold in the US and Canada. After consultation with the U.S. Food and…
Berkshire Hathaway Swings To Big Profit
Berkshire Hathaway (NYSE: BRK.B, BRK.A) announced it made $3.6 billion in the first quarter compared to a loss of $1.5 billion in the year ago period. All of the improvement was in the company’s operating…
New NOAA Data Show Rapid Growth Of Gulf Spill, Obama To Visit Site
The pace at which the oil from the collapsed BP rig is spreading accelerated late on April 30. The Coast Guard and Navy are placing “booms” in the Gulf to try to keep the oil…
As Obama Shuts Off-Shore Drilling, Bids Open For Alaska Pipeline
Partners TransCanada Corp. (NYSE:TRP) and Exxon Mobil Corp. (NYSE:XOM) have announced the beginning of a three-month open season for capacity on the proposed Alaska Pipeline. The pipeline, if its built, would carry up to…
Gulf Oil Leak Will Stall Offshore Drilling Expansion
David Axelrod, an adviser to President Obama, said this morning that no new drilling offshore of the US will be authorized until the cause of the explosion and 5,000-b/d leak from the Macondo well…
Signs There Is No Intelligent Life At Hewlett-Packard
Hewlett-Packard (NYSE: HPQ) will regret the day it decided to buy Palm (NASDAQ: PALM), and it will be soon. Palm was nearly worthless when HP made its offer, and that makes the $1.2 billion…
Government Launches Criminal Probe of Goldman Sachs
By John Hudson of The Atlantic Wire Shares of Goldman Sachs are down following reports that federal prosecutors are conducting a criminal investigation into whether the investment bank committed securities fraud. Any potential charges…
Today’s Best Market Rumors (4/30/2010)
Updated throughout the day. The Justice Department is looking into possible fraud involving mortgage-backed securities trading (WSJ) UAL (NASDAQ: UAUA) and Continental Airlines (NYSE: CAL) are closer to a merger (AP) Hewlett-Packard (NYSE: HPQ)…
The Twitter-24/7 Wall St. Stock Market Report 4.30 The Wisdom Of The Crowd?
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…
The New iPhone And The Dawn Of Video Calls
The first attempts to market video phones are now 30 years or more old. They were run on residential landlines, weak sisters to the video conferencing just emerging at large companies. But, the consumer…
RIM Gains Power In Global Handset Market
The Research-in-Motion (NASDAQ: RIMM) BlackBerry has not been pulled down from its perch as one of the world leading cellphones by either the Apple (NASDAQ: AAPL) iPhone or Google- (NASDAQ: GOOG) powered smartphones. On…
A Scorched Earth Policy For Greece
By God, the Greeks will suffer for profligacy. If the IMG and Eurozone nations give them a dime, they will take it out in blood. The rescue package which was once 40 billion euros or…
The Goldman Sachs Prosecution Chess Game (Memories Of Apple Back Dating)
The US Attorney of the Southern District of Manhattan, home to most prosecutions of Wall St. firms, has begun an investigation into Goldman Sachs Group’s (NYSE: GS) trading to see if any of its…
Media Digest 4/30/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
WSJ: Warren Buffett intends to discuss his investment in Goldman Sachs Group (NYSE: GS) at the Berkshire Hathaway (NYSE: BRK.B) annual meeting. Reuters: Federal authorities have started a criminal probe into Goldman. Reuters: The…