Asia Markets And Europe Open 9/28/2009
Markets in Asia were markedly lower. The Nikkei dropped 2.5% to 10,010. Honda (HMC) fell sharply. The Hang Seng was off 1.5% to 20,697. China Unicom (CHU) and PetroChina (PTR) both fell. The Shanghai…
All Work
Douglas A. McIntyre
Uncle Sam’s Boost for Solar (ASTI, FSLR, ENER)
Ascent Solar Technologies (NASDAQ: ASTI) may have a significant win under its belt in the new Army solar pact. The maker of thin-film solar modules has a new contract from the government that could…
Europe Banks Face $587 Billion In Credit Losses
Stress tests of the balance sheets of Europe’s twenty-two largest banks shows that they have credit losses that will reach a total of $587 billion between this year and next. The analysis was done…
52-Week High Club (SAN, CEL, TWLL)
Banco Santander Chile (NYSE: SAN) hit a yearly high of $56.51, continuing to rally following the release of positive research on Latin American banks from Barclays. The company has also benefited from positive reception to…
24/7 Wall St. TV: RIM’s (RIMM) Tough Future
Shares of RIM (RIMM), maker of the Blackberry, were knocked down almost 15% today after earnings. Revenue for the second quarter of fiscal 2010 was $3.53 billion, up 37% from $2.58 billion in the…
The Sucker Rally In Airline Stocks (UAUA)(CAL)(AMR)(LCC)
Try to balance the conventional wisdom about airline stocks. Audit Integrity has AMR (AMR) and Continental (CAL) on its list of large American companies most likely to go bankrupt. UBS upgraded several carriers to…
Today’s Best Market Rumors 9/25/2009 (GE)(TM)(F)(JPM)(AAPL)
Update: Verizon (VZ) may consider buying DirecTV (WSJ) Update: The Apple (AAPL) iPhone will cost an extraordinarily high $303 in China but the monthly service fee will be as low as $18.45 on the…
Tech Titans Holding $260 Billion In Cash (DELL, PER, ORCL, JAVA, MSFT, AAPL, IBM, GOOG, CSCO, INTC, HPQ, QCOM, EMC, YHOO)
The economy is obviously getting better, so long as you are not one of the unemployed or about to lose your job. Now with more than a 50% rally from the March lows and…
As The World Turns: HSBC CEO To Move To Asia
HSBC (HBC) is the largest bank in Europe, by most measures. Its CEO will be relocating to Hong Kong from London early next year, an indication of the rise of Asia and the fall…
US Large Loan Losses To Hit $53 Billion In 2009
The federal government’s Shared National Credit (SNC) Review for this year found $53 billion in losses on large loans held by U.S. bank organizations, foreign bank organizations, and nonbanks such as securitization pools, hedge…
GM: Silence Is Golden
GM’s fairly new CEO Fritz Henderson did not get his job as recently as the car company’s chairman Ed Whitacre did, but neither has been in his current role for even a year.
A Market Still Hostage To Meaningless Data
The stock market did not fall apart at the seams, but it did very poorly on news that existing home sales dropped last month by 2.7% to a rate of 5.1 million. That was…
Short Sellers Flee Tech, Hit Weak Balance Sheets (INTC)(DELL)
Short sellers posted a mixed record on big banks. Short interest in Citigroup (C) plunged by 73% to 177.5 million shares. The short interest in Bank of America (BAC) was down 18% to 82.2 million.…
Media Digest 9/25/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: The G20 is taking center stage in the new economic world order. Reuters: Bank losses from large syndicated loans will hit $53 billion this year. Reuters: One Fed governor said the agency may…
Asia Markets And Europe Open 9/25/2009
Markets in Asia fell. The Nikkei slide 2.8% to 10,269. Nomua fell sharply as did Mitsubishi UFJ (MTU). The Hang Seng fell a fraction to 21,042. China Mobile (CHL) and HSBC (HBC) fell. The…
52-Week High Club
Dr. Reddy’s Laboratories (NYSE: RDY) hit a yearly high of $19.32 today, building on momentum initiated yesterday when it was reporeted that the company had received approval from regulators to distribute its high blood…
RIM (RIMM) Crushed By Bad Earnings, Shares Off 10%
Shares of RIM (RIMM), maker of the Blackberry, closed the regular session at $83.06 immediately after announcing earnings. Revenue for the second quarter of fiscal 2010 was $3.53 billion, up 37% from $2.58 billion…
Today’s Best Market Rumors (NOK)(PALM)(AAPL)(MHP)(CBS)
Strauss Zelnick, former record exec, and former WSJ publisher Gordon Crovitz will buy BusinessWeek, (MHP) which was yesterday rumored to be closing. (BW) Nokia (NOK) will buy travel social network Dopplr for $20 million. (TechCrunch)…
Gold Miners Digging Out? (ABX, AU, NEM, GDX, GLD)
Now that Barrick Gold Corp. (NYSE:ABX) has raised $4 billion or so to buy out its hedges, the company is set to enjoy an expected run-up in gold prices. In early trading today, Barrick…
Marathon’s Angola Stake Not Going to China After All (MRO, CEO, SNP, TOT, XOM)
Angola’s state-owned oil company, Sonangol, has exercised its right of first refusal to purchase a 20% stake in block 32 offshore Angola from Marathon Oil Corp. (NYSE:MRO). In July, Marathon announced that it had…