Three More Bank Closings Brings 2009 Total To 92
The FDIC became receiver for three more US banks, which means a total of 92 have been closed this year. The agency announced that Corus Bank of Chicago would close. Its eleven branches will…
All Work
Douglas A. McIntyre
MetroPCS Merger Hopes… A Leap or Prayer? (PCS, LEAP, VM, S)
If you are a regular reader of 24/7 Wall Street, the notion that MetroPCS Communications Inc. (NYSE: PCS) might be a merger play won’t be a surprise. We first noted back in early August…
24/7 Wall St. TV: GM’s Own “Clunkers” Program
The “cash for clunkers” program was not kind to GM. It did not have a single vehicle on the list of the ten most purchased cars which was dominated by Toyota (TM), Honda (HMC),…
Oil & Gas Rig Counts Falter (OIH, DIG, USO, OIL)
Baker Hughes, Inc. (NYSE: BHI) has released its weekly rig counts and the gains we were seeing look as though they may have started to already peter out. Throw that in with an almost…
Budweiser Returns For US Investors (BUD, TAP, SAM, HOOK)
Budweiser is back for US investors. It has been some time that US investors have been able to invest in an large beer company since Anheuser-Busch was acquired by InBev. But it is coming…
Transports Seeing Mixed Show on FedEx Guidance Hike (FDX, UPS, UNP, CSX, YRCW, NSC, KSU, BNI, JBHT, CNW, LSTR)
We just noticed over at our volume spike alert service that FedEx Corporation (NYSE: FDX) was already challenging 150% of its average volume and was triple volume what it normally has traded by this…
First Solar’s New CEO High Compensation Package (FSLR, HON, GE)
We previously noted how First Solar, Inc. (NASDAQ: FSLR) had scored on its new CEO. Robert J. Gillette is coming out of Honeywell International Inc. (NYSE: HON) to take over for founder Michael Ahearn…
Top Day Trader Alerts (ALL, MO, AIG, AXL, DSCO, GRMN)
These are this Friday’s top day trader alert stocks. We have more color and more detail on price and volume analysis linked through to each at VSInvestor.com: AllState Corp. (NYSE: ALL) is holding up…
Top Analyst Upgrades (AXL, BRCD, CL, ELX, GRMN, PGR, Q, SLB, TTWO)
These are this Friday’s top analyst upgrades, initiations, and positive research calls seen early from Wall Street: American Axle (NYSE: AXL) Raised to Overweight at Barclays. Brocade (NASDAQ: BRCD) Started as Outperform at Oppenheimer.…
Top Analyst Downgrades (AIG, ALL, BBY, CLX, ERTS, ITT, NWS, SII, TYX, VIP)
These are this Friday morning’s top analyst downgrades and cautious research calls from Wall Street: American International Group (NYSE: AIG) Cut to Underperform at Wells Fargo. Allstate (NYSE:ALL) Cut to Sell at Goldman Sachs.…
GM Fuel-Cell Car Logs One Million Miles
The cloud that is GM may have found a silver lining. GM’s Chevrolet Equinox, which is powered by a pollution-free fuel-cell, passed its one millionth mile in test drives. The firm says that the…
China’s Growth Smokes The US
Either China’s economy is more resilient than the US’s or its $585 billion stimulus package is working better than the American version which has a $787 billion price tag. Last month, output at China’s…
World’s Largest Cellular Company Still In Talks With Apple (AAPL)
Apple (AAPL) has a deal with China Unicom (CHU) to sell its iPhone on the mainland. The deal, however, is not exclusive. The head of China Mobile (CHL), which has 500 million subscribers and…
Poverty Rises, Will Rise Further
The recession seems to have taken a toll on the rich and poor alike, but the rich can usually afford housing. The nation’s poverty rate climbed to 13.2%, up from 12.5% in 2007. That…
GM’s Own “Cash For Clunkers” Program
The “cash for clunkers” program was not kind to GM. It did not have a single vehicle on the list of the ten most purchased cars which was dominated by Toyota (TM), Honda (HMC),…
Media Digest 9/11/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: International bank regulators are looking at Brazil as a model. Reuters: John Mack will step down at Morgan Stanley’s (MS) CEO. Reuters: The SEC vowed reforms after its report on Madoff revealed mistakes. Reuters: GM…
Asia Markets And Europe Open 9/11/2009
Markets in Asia were mixed The Nikkei fell .7% to 10,444. Toyota (TM) dropped. The Hang Seng was up .4% to 21,156. The Shanghai Composite gained 2.2% to 2,990. At the open in Europe,…
Motorola (MOT): Right Phone, Wrong Network
Motorola (MOT), one the world’s No.2 handset company and now nearly out of business, introduced its new flagship product called Cliq. The phone runs the new Google (GOOG) Android mobile operating system. It will…
Whacking Mack (MS)
It turns out that all the rumors of the resignation or retirement of top dog John Mack turned out to be accurate. Better late than never… Morgan Stanley’s (NYSE: MS) Board of Directors announced…
Wal-Mart’s Duke Outlines New Normal and Late Christmas (WMT)
Wal-Mart Stores Inc. (NYSE: WMT) presented today at the Goldman Sachs retail conference. This was one of the new CEO Mike Duke’s first presentations since taking the top position at the world’s largest retailer. …