Bankruptcy Watch
VeraSun Energy Corporation (OTC: VSUNQ), which filed for Chapter 11 protection on July 31st 2009, announced that the 158 million shares of common stock in the company have been cancelled. The shares currently trade at $0.0055.…
All Work
Douglas A. McIntyre
Recently Completed SPAC Deals Tripped up by De-Listing Threats (TMI, WLBC, CNWHF)
SPACupdate.com provides daily reports and e-mails covering blank checks, their targets and relevant trading data. The team has provided 24/7 Wall Street with many examples of solid developments in special purpose acquisition companies, but…
CIT Highlights Risks in Junkier Financial Stocks (CIT, FNM, FRE, ABK, C, ETFC, AIG, PMI)
It is of little surprise that CIT Group, Inc. (NYSE: CIT) is seeing clobbered today. The company has finally filed its pre-packaged Chapter 11 bankruptcy package and that has CIT shares down a sharp…
Did Obama Further Temper Unemployment Expectations?
Today’s market weakness is being attributed to a myriad of issues, with most profit taking being attributed to added valuation after huge gains not meeting up to the current economy. But there have been…
Coal IPO Hikes Planned Sale (CLD, RTP, ACI)
It seems that there is no caution in all the pending Initial Public Offerings coming to market. Cloud Peak Energy, Inc. is raising the amount targeted for its capital raise of up to $650…
24/7 Wall St. TV: Another Pay Outrage: University Presidents Making Over $1 Million
Wall St. executives are apparently in for their best pay day in history, despite the fact that the collapse of the credit markets and the beginning of one of the worst recessions in US history are barely…
Ancestry.com on IPO Deck (ACOM)
This week we are expecting to see the market absorb the pending initial public offering from Ancestry.com Inc. The company has a very unique niche and business model in that it operates a subscription-based…
Can Hyatt IPO Beat Current IPO Doldrums? (H, HOT, MAR)
Late Friday night, after a really poor market day, Hyatt Hotels issued an amended S-1 for its planned initial public offering. Because of last week’s market volatility, we are getting mixed signals about both…
Today’s Best Market Rumors (11/2/2009) (LVS)(PFE)(PLX)(BK)(ODFL)(PALM)(AAPL)
Updated throughout the day. Updated 1.05 PM EST: Las Vagas Sands (NYSE:LVS) will try to raise $2.5 billion though an IPO in Hong Kong (AP) Updated 11.12 AM EST: Pfizer (NYSE:PFE) is considering a…
Top Day Trader Alerts (CIT, DNDN, F, HGSI, MOT)
This is a strange morning for day trader alerts. There are not dozens and dozens of stocks in the big news, but those that are moving are moving big. We have links through on…
Top 10 Analyst Upgrades, Downgrades, Initiations (BIIB, INCY, MOT, CMCSA, JWN, ODP, PALM, RIMM, RCL, YUM)
These are this Monday’s top ten analyst upgrades, downgrades, and initiations seen from Wall Street research firms: Biogen Idec (NASDAQ: BIIB) Raised to Buy at Jefferies. Incyte Corporation (NASDAQ: INCY) Started as Outperform at…
America’s Largest Companies Hold $994 Billion In Cash
The five hundred largest non-financial companies in the U.S. hold $994 billion in cash and short term investments, up about 8 percent from last year, according to an exclusive study conducted by The Wall Street…
Ben Bernanke Is a Walking Economic Fallacy
By John Tamny of Forbes The great economist Henry Hazlitt once observed that “Economics is haunted by more fallacies than any other study known to man.” Were Hazlitt alive today, he surely would have…
A Little Miracle At Ford (F)
The UAW rank-and-file may have given Ford a little fit over the weekend by voting down a contract with the No.2 US car company. Monday dawned a better day as Ford may the surprise…
Microsoft’s (MSFT) Ballmer: IT Spending May Never Come Back
In a statement that must send chills up the spines of other tech CEOs, Microsoft’s (NASDAQ:MSFT) Steve Ballmer said that the vicious recession may have reset IT spending to a level which will never…
Michael Jackson Film Moves Toward $200 Million In Ticket Sales
Sony (NYSE:SNE) just announced its fourth consecutive quarterly loss. Part of that was due to red ink at its studio division. Its best chance for a blockbuster film in the current quarter is almost certainly…
Low Demand For Apple (AAPL) iPhone In China
In the United States, people will line up for blocks and camp out in the cold to be the first customers into Apple’s (NASDAQ:AAPL) retail stores when the consumer electronics wonder introduces a new product.…
Delaware Named As Better Place To Hide Money Than Switzerland
All of the tax evasion cases brought against customers at Swiss banks would lead most analysts to believe that it is the world capital of hiding money. Numbered Swiss bank accounts are a legend…
Wal-Mart (WMT): More Toy Price Cuts And Big City Dreams
Wal-Mart (NYSE:WMT) becomes more aggressive in soliciting new customers and undercutting rivals as each week passes. It has the balance sheet and retail locations to do those things. The world’s largest retailer recently cut…
Media Digest 11/2/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Investors in the banking sector were disturbed by the CIT (NYSE:CIT) bankruptcy. Reuters: Summers will lead a high level meeting on the economy. Reuters: US companies are holding more cash. Reuters: The Fed…