Oil Prices And The Illusion Of New Inflation
It has become commonplace among analysts and oil traders to fear that crude prices are up so much that inflation will have to return the market. A recent piece from Reuters reinforces that sentiment.…
All Work
Douglas A. McIntyre
Media Digest 6/15/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: The heads of the emerging markets, the so-called BRICs, held their first global summit. Reuters: Obama will be tested this week on financial reforms. Reuters: Rich nations are working on an exit from…
Asia Markets And Europe Open 6/15/2009
Markets in Asia were mixed. The Nikkei was down 1% to 10,040. The Hang Seng dropped 1.1% to 18,878. The Shanghai Composite was up 1.7% to 2,790. At the open in Europe, the FTSE…
Facebook: More Programs That Don’t Make Money
Social networks, especially the largest one which are Facebook, MySpace, and Twitter, continue to come up with new features that may be useful to users but are unlikely to bring in any revenue.
Genzyme Corp. Receives European Approval for its Kidney Disease Drug Renvela (GENZ)
Biotech Genzyme Corp. (Nasdaq: GENZ) reported on Friday that it has received European approval for Renvela, a newer version of its Renagel drug to help control phosphate levels in the blood of chronic kidney…
Shares of Savient Pharmaceuticals Inc. Soar Despite FDA Concern Over Drug Safety (SVNT)
Shares of Savient Pharmaceuticals Inc. (Nasdaq: SVNT) climbed on Friday after an announcement by the FDA that the company’s drug Krystexxa appears to successfully treat gout, despite evidence of potentially deadly side effects.
Revisiting Consumer Sentiment: Looking At The Future
The University of Michigan/Reuters consumer sentiment numbers almost containly contain too much data. A careful reading of the figures show that they often conflict with one another leaving nothing but a puzzle. The most…
Secondary Issuers Getting Hit (AMP, ATPG, ERIC, MI, VMC)
We are seeing some active trading in the stocks which raised capital via secondary offerings today. These are all down except for one and today’s hopper has Ameriprise Financial Inc. (NYSE: AMP), ATP Oil…
Savient (SVNT) Rises 55% On Bad News
Shares in pharma firm Savient (SVNT) are up 55% to $9.13 on what would appear to be very bad news. The FDA issued a statement saying it has safety concerns about the company’s gout drug. According to…
Auto Industry Light At The End Of The Tunnel?
There may be a tiny pinhole of light at the end of the auto sales depression tunnel. VW said its global shipments rose 1.5% last month. It is not much, but given the relentless…
B of A Cuts TARP Giants (BAC, JPM, GS, MS)
Bank of America Merrill Lynch (BofA-Merrill), the new name for the brokerage arm of Bank of America Corporation (NYSE: BAC), has come out this morning with a cautious call on brokerage firms and bank…
Top Analyst Upgrades (ARMH, ASML, BSX, CLX, GR, IFX, LAZ, SKS, SNIC, VICL)
These are some of the top pre-market analyst upgrades and positive research calls we have seen from Wall Street early this Friday morning with more than two hours until the market opens: ARM Holdings…
Top Analyst Downgrades (ABB, AKS, CME, ERIC, HMC, NOK, SKH)
These are the top pre-market analyst downgrades and cautious research calls we have seen from Wall Street early this Friday morning with more than two hours until the market opens: ABB (ABB) Started as…
At $70 Oil, Major Oil Stocks Still Look Cheap (COP, XOM, CVX, MUR, PBR, PTR, VLO)
We keep getting asked a single question from readers and from our own industry and professional contacts: Are Oil Stocks Cheap? There is a very simple answer in today’s markets: Oil stocks look very…
Video Game Sales Still Bleeding, Xbox And PS3 Gain Ground
Video game and game console systems sales plunged in the US in May. According to industry research group NPD, software sales were down 17% to $449 million and sales of players dropped 30% to…
BlackRock (BLK) Buys Barclays (BCS) Unit: Money Still Available For Sterling Deals
BlackRock (BLK), the top-tier money management firm, showed that large M&A transactions can be closed, even in a tight economy, if the buyer has a sterling reputation and long-term record of significant success. Barclays…
A Sign Of Bottom In Mortgage Delinquencies?
Large credit rating agency Equifax believes that the rate at which mortgage delinquencies have been rising has moderated and may have found a bottom. According to Reuters, “While the year-over-year increase is dramatic, the…
The World Bank’s Dark Vision
The seers at the World Bank have broken with most other forecasters and believe that global GDP will contract violently this year and may not recover next year. According to Reuters, World Bank President…
The Tobacconist’s Lament: The Government’s Campaign Against Cigarettes And Fast Food
Congress has finally come within a day or two of finalizing a bill the will have the FDA regulate the tobacco industry. The markets of cigarettes, cigars, and chew have avoided the government’s boot…
Media Digest 6/12/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Baclays (BCS) sold BCI to Blackrock (BLK) for $13.3 billion Reuters: WHO declared a flu epidemic Reuters: Congress bash Fed, Treasury, and B of A (BAC) on Merrill Reuters: US is near tighter…