IMF: Banks Face Another $1.5 Trillion In Writedowns
The IMF issued its Global Financial System report and one of the most critical points of its analysis is that banks face another $1.5 trillion in writedowns. That is on top of the $1.3…
All Work
Douglas A. McIntyre
A Perfect Internet For Only $350 Billion
The FCC has issued a report of almost 200 pages showing its interim plan for increasing broadband deployment and use in both urban and rural areas. The program is complex because it offers at least…
Media Digest 9/30/2009 Reuters, WSJ, NY Times, FT, Bloomberg
Reuters: China celebrated 60 years of communist rule as a capitalist economy. Reuters: The IMF cut global debt write-offs to $3.4 trillion. Reuters: CIT (CIT) is close to a deal to give the company…
Asia Markets And Europe Open
Markets in Asia were narrowly mixed. The Nikkei was up .3% to 10,133. The Hang Seng was down .6% to 20,841. Sinopec (SNP) fell. The Shanghai Composite was up .9% to 2,779. At the…
CIT (CIT) For Suckers
Shares of CIT (CIT) rallied 32% to $2.20 after The New York Post reported that hedge-fund operator John Paulson of Paulson & Co. was orchestrating a move to merge CIT Group with the remains…
52-Week High Club
Chipotle Mexican Grill (NYSE: CMG) hit a yearly high of $97.33 as options traders place bets in anticipation of positive earnings. Dr Pepper Snapple Group (NYSE: DPS) hit a yearly high of $28.58 as…
24/7 Wall St. TV: Apple App Downloads Hit 2 Billion
Close to one out of three people in the world has downloaded an app from the Apple (AAPL) App store. Or, a much smaller number of people have downloaded ten or twenty apps on…
Fertilizer Wars Heat Up Again (CF, TRA, AGU, MOO)
Fertilizer maker CF Industries Holdings, Inc. (NYSE:CF) said it has purchased 7% of the shares of competitor Terra Industries Inc. (NYSE:TRA) on the open market. CF has also renewed its offer to purchase the…
Today’s Best Market Rumors (9/29/2009) (AMD)(GOOG)(AMGN)
Updated throughout the day. Update: Xerox (XRX) may find that IBM (IBM) or HP (HPQ) outbid it for ACS (ACS) (Barron’s) Update: Apple (AAPL) may be working on a touchscreen remote for an upcoming…
Big Stock Moves Of The Day (9/29/2009)
Aocording to Volume Spike Investor, several stocks are making significant moves before the open. Including in the list are Gannett (GCI) (details), BSD Medical (BSDM) (details), Walgreen (WAG) (details), Sequenom (SQMN) (details), and MBIA (MBI) (details).…
The Fed Continues to Operate Blindly
By John Tamny For those who’d been optimistic that Federal Reserve officials might eventually wake up to the true nature of inflation, last week’s FOMC meeting likely dashed all hope. The Fed continues to…
Despite The Recession, Dell (DELL) Goes Super High-End
Dell (DELL) may be taking a page from the Apple (AAPL) marketing manual. A PC with extraordinary features and a beautiful case will sell for more than $2,000, at least to some people. The…
Retailer’s Lament: Halloween Sales Turn Ugly
Pinched between poor back-to-school sales and a holiday sales season that is anticipated to be the worse in years is Halloween which generally brings retailers about $5 billion. This year will not be as good…
Starbucks (SBUX): Instant Coffee=Instant Profits
Starbucks (SBUX) has been talking about its foray into the instant coffee business for some time. The product “VIA Ready-Brew” will actually launch in the US and Canada today. According to the company “Starbucks…
China Reaches Out Again For Crude Supply Domination
China has made aggressive investments in oil production facilities and fields in Venezuela, Brazil, and several places in the Middle East. Almost all its multi-billion dollar deals are aimed at locking up supply to accomodate its…
Direct Stimulus Spending Hits $100 Billion Milestone
by Christopher Flavelle, ProPublica Federal agencies have now spent more than $100 billion on contracts, grants, loans, and entitlements, according to Recovery.gov, the site mandated by Congress to track stimulus spending. Combined with the…
SPAC Live Deals Report and Stake Sales (TTY, NAQ, CLA, TMI, IDI, IAQGU, TOH)
SPACupdate.com produces reports on blank check companies, stake purchases and live deal situations. Three blank check companies: 2020 ChinaCap Acquiro (AMEX: TTY), NRDC Acquisition (AMEX: NAQ) and Capitol Acquisition Co. (AMEX:CLA), are all…
Media Digest 9/29/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: China may hold the key to a sanctions program against Iran. Reuters: The head of the AIG (AIG) unit that caused most of the firm’s losses is back in US. Reuters: The G20 has…
Asia Markets And Europe Open 9/29/2009
Market in Asia were mixed The Nikkei was higher by .9% to 10,100. Honda (HMC) rose. The Hang Seng was up by 2.3% to 21,060. The Shanghai Composite dropped .3% to 2,755. At the…
Ohio Attorney General: Bank Of America (BAC) Could Owe “Billions”
Well, back in the history of American finance, the public and some members of Congress were lead to believe that Bank of America (BAC) bought Merrill Lynch as a way to save the world’s…