The Fed Earns An Astounding $45 Billion In 2009
The Federal Reserve made $45 billion last year, according to an exclusive report in The Washington Post. That is the most the Fed has earned in 95 years.The central banks still owns securities that it…
All Work
Douglas A. McIntyre
Media Digest 1/12/2010 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Cadbury (NYSE:CBY) posted strong 2009 results, rejected Kraft’s (NYSE:KFT) bid. Reuters: Bank of America (NYSE:BAC) is in talks to settle with Cuomo. Reuters: The FAA called for inspections of older Boeing (NYSE:BA) 737s.…
Asia Markets And Europe Open (1/12/2010)
Markets in Asia were mixed. The Nikkei rose .8% to 10,879. JAL fell 45%. The Hang Seng fell .5% to 22,287. The Shanghai Composite rose 1.9% to 3,274. At the open in Europe, the…
The Great American Bank Heist
The Administration wants to be certain that taxpayers get back all the money they risked through the TARP program. All of the largest banks which took money from the fund have paid it back, but that…
Alcoa, Making Bad News Sound Good (AA)
Alcoa Inc. (NYSE: AA) kicked off earnings season this evening on news that is all in all not that exciting even if the reception is one of approval. The company said that it finished…
Electronic Arts (ERTS): Down For The Count
Shares in companies including GameStop (NYSE:GME), Sony (NYSE:SNE), Microsoft (NASDAQ:MSFT), and Take-Two (NASDAQ:TTWO) will be affected by a disclosure from Electronic Arts (NASDAQ:ERTS) that it will badly miss its earnings forecasts. EA said that…
Upgrading Ford (F)
Ford Motor Co. (NYSE: F) is probably one of the only ways to bet on the big Detroit Auto Show this week, but the stock was trading at 52-week and multi-year highs today on…
Manufacturing Equipment Stocks Get A Bump
Manufacturing equipment and testing stocks (*MANUF) are up 6.7% today as reported by Tickerspy. The rise is attributed to K-Tron International’s (NASDAQ: KTII) 30.6% and Measurement Specialties’ (NASDAQ: MEAS) 4.1% gain today. K-Tron International, the…
52-Week High Club (AA, CVX, MMR, EXXI, SNI)
Aluminum Corp. of China Limited (NYSE: ACH) rose over 5.7% to a yearly high of $34.27 after the company rose alumina prices for the second time in a week. Alcoa Inc. (NYSE: AA) rose…
Banker Bonuses: Cuomo Back Where He Doesn’t Belong
Andrew Cuomo, current attorney general and either future governor of New York State or US Senator, decided to force eight large banks that received TARP money to disclose their employee compensation for 2009. Some estimates put the…
FriendFinder Still Sees IPO, But Less Capital Raised (FFN)
FriendFinder Networks, Inc. may be one of the more unusual formal initial public offerings out there. It might be classified as an internet media or social networking company, but this is the parent of…
Chardan SPAC Deal Vote Kicks off Weeks of SPAC-tion (CACA, HMR, CIO)
We have been given some exclusive coverage on the recent developments in special purpose acquisition companies and blank check companies from SPACupdate.com this morning. There is still much going on in the sector, and…
Top Analyst Upgrades and Downgrades (BP, BKC, CVX, CMG, GLW, ENOC, INTC, PNRA, PBR, RICK, DIS)
These are this Monday morning’s top analyst upgrades and downgrades seen from Wall Street research calls. BP plc (NYSE: BP) Raised to Buy at Citigroup. Burger King (NYSE: BKC) Cut to Hold at Deutsche…
Today’s Best Market Rumors (1/11/2010) (GS)(BX)(GOOG)
Updated throughout the day. Goldman Sachs (NYSE:GS) workers may be forced to give more money to charity (NYTimes) Peter Thiel’s hedge fund value fell 25% last year, (NYPost) Tim Geithner, under pressure to resign,…
Charity May Be Goldman’s Way Out
No matter what Goldman Sachs (NYSE:GS) does to make its huge bonus payments more palatable to taxpayers, shareholders, and the government, the more criticism the company faces about its compensation packages. The bank has…
It’s Investment Banking: Why Wall Street Pay Is High
John Tamny of Forbes In a 2005 speech meant to reduce the irrational criticism of Wal-Mart’s wage policies, then-CEO Lee Scott calmly explained that the retail giant’s low hourly pay was purely economic–the…
Oil Races Toward $90
China reported that its exports rose 18% in December over the same period last year. It also said that factory production was up 25% for the same time frame. The news has caused several…
China Finds Another Way To Poison US Kids
The AP has discovered that China is replacing lead in a number of the pieces of jewelry that it makes for export with cadmium. Medical books say that the metal can cause irreversible liver and kidney…
Ford (F) Looks For “World Car” Holy Grail
Major auto companies have made efforts to create a “world car” for decades. It would be a vehicle which could use one design, one platform, and one engine which could be sold in Asia,…
Bankers Testify In DC, Their Pockets Bulging With Cash
A number of the top bankers from firms including Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), and JP Morgan (NYSE:JPM) will testify before the The Financial Crisis Inquiry Commission which has been charged by Congress…