Europe’s Hope To Build A New IMF
By Heather Horn of The Atlantic Wire In the past few days, plans have solidified for a new European version of the International Monetary Fund. Advocates, which include French and German politicians, say the…
All Work
Douglas A. McIntyre
OPEC: Oil Consumption Will Rise, Or It Won’t
OPEC say that crude consumption will rise this year, but in the fine print of its statement, the cartel undercuts its own prediction. OPEC expects world oil demand to grow 900,000 barrels a day in 2010.…
Today’s Best Market Rumors (3/10/2010)
Updates throughout the day. AIG (AIG) has developed a new system for paying management bonuses (NYT) “While banks like JPMorgan and Goldman Sachs have enough liquidity to consider raising dividends or buying back stock, regulators…
Top 10 Analyst Upgrades and Downgrades (ADI, NLY, BIDU, CVX, ESLR, ITMN, JCG, LMT, SONC, VALE)
These are this Wednesday’s top 10 analyst upgrades, downgrades, and initiations seen from Wall Street morning research calls: Analog Devices Inc. (NYSE: ADI) Raised to Outperform at Bernstein. Annaly Capital Management (NYSE: NLY) Cut…
Economists Expect GDP To Falter In 2011
Results from the poll used to create the Blue Chip Economic Indicator show that economists believe that US GDP will grow at a slower rate than they had previously forecast for next year. According…
A $10 Billion Price Tag For Toyota (TM) Recalls
The price tag for Toyota’s (TM) massive recall of eight of its popular models plus the Prius hybrid and its Tundra truck is estimated as high as $5 billion according to experts surveyed by…
China Exports Surge 46%, But Who Buys The Goods?
China’s exports rose 46% in February compared with the same month a year ago, underscoring concerns about whether its economy has begun to overheat. The Chinese customs agency, which made the announcement, also said that…
On Nasdaq Peak Holiday, Shorts Exit Tech And Junk Stocks
On the tenth anniversary of the tech bubble of 2000, short sellers aggressively dropped their bets against hardware, software and internet companies. Figures are from February 28. The short interest in Apple (AAPL) fell…
Media Digest 3/10/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Democrats may miss their goal to vote on healthcare reform. Reuters: China exports rose 46% in February. Reuters: China’s Geely raised money to buy Volvo. Reuters: Strong Chinese trade data made the case…
Asia Markets And Europe Open (3/10/2010)
Msrkets in Asia were narrowly mixed. The Nikkei rose a fraction to 10,564. Toyota (TM) fell. The Hang Seng rose .1% to 21,219. The Shanghai Composite was down 1% to 3,050. At the open…
American Millionaires And The Search For Work
The statisticians who occasionally cough up data on employment posted two new sets of numbers today. The first was the traditional monthly report from the BLS called “The Job Openings and Labor Turnover Summary”. …
NASDAQ Short Interest Surprise, Down But Up
We just saw some mixed data from the NASDAQ over the short selling data for the February 26, 2010 settlement date. NASDAQ released data after the close today noting that its short interest in…
AIG, Citi… From Chatter to Technical Move (AIG, C, FNM, FRE)
American International Group, Inc. (NYSE: AIG) is seeing a significant trading event today. Today’s news is rumor-driven on top of related news-driven trading. What is odd is that there is now potentially more to…
Crash Anniversary: DJIA’s 100% Gainers (BAC, AXP, AA, BA, CAT, DD, DIS, GE, HPQ, JPM, CSCO, MMM, MSFT, UTX)
March 9, 2009 marked the absolute apex of selling and marked the official ending date of the bear market. At the time, many were expecting stocks to see gains because of grossly oversold conditions. …
Cisco’s Non-Event Event: Does Anyone Want A Faster Internet?
Al Gore invented the internet, and Cisco (CSCO) will improve it forever. Cisco built up today’s announcement of its latest technology and the result of the news was that the firm’s stock dropped. Cisco…
National Employee Morale Day At Chevron (CVX)
Chevron (CVX) said it would lay-off 2,000 people. The company issued a press release describing its plans which had the title “Chevron Well-Positioned For Future Growth” Firing employees must be integral to that. Chevron also indicated it…
More Secondary Offerings Hitting (CMA, SUSQ, VOLC)
We have three secondary offerings of note today, with two having an impact in the stock. Comerica Incorporated (NYSE: CMA) is raising $800 million and Susquehanna Bancshares, Inc. (NASDAQ: SUSQ) is raising $350 million. …
Best Market Rumors (3/9/2010)
Updated throughout the day. Marsh & McClennan (MMC) plans to sell its corporate investigations division Kroll for $1.3 billion. Bidders may include The Carlyle Group, Apax Partners and General Atlantic (FT) DryShips (DRYS) may be…
Top 10 Analyst Upgrades and Downgrades (BIIB, CMA, ENER, ESLR, FSLR, MAT, HK, TRV, YUM, ZRAN)
These are this Tuesday morning’s top analyst upgrades, downgrades, and initiations seen in early Wall Street research notes: Biogen Idec (NASDAQ: BIIB) Started as Buy at Soleil. Comerica (NYSE: CMA) Cut to Market Perform…
Twenty-Seven Percent Of Workers Have Under $1,000 In Savings
America’s role in the world as a nation of financial risk takers does not appear to be eroding. The Employee Benefit Research Association has released the results of it 20th annual Retirement Confidence Survey. The most stunning…