Examining The Torture Of Ken Lewis
The House Oversight Committee has subpoenaed the Fed to get information relating to the Bank of America (BAC) buyout of Merrill Lynch. Ken Lewis, the bank’s CEO, claims that former Treasury Secretary Henry Paulson…
All Work
Douglas A. McIntyre
Liquidating Chrysler Was An Option
The government was successful when it warned that if the Supreme Court delayed the Chapter 11 process of Chrysler more than a few days, the No.3 US car company might be forced into liquidation.…
Media Digest 6/10/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: The Supreme Court delays Chrysler deal. Reuters: The cleared ten banks to repay TARP include JPMorgan (JPM), Goldmand Sachs (GS), American Express (AXP), Cpaital One(COF), State Street (STT), BBT (BBT), Morgan Stanley (MS),…
Asia Markets And Europe Open 6/10/2009
Markets in Asia rallied sharply and oil stocks moved up as crude hit $71. The Nikkei rose 2.1% to 9,991. The Hang Seng was up 3.3% to 18,660. Petrochina (PTR) and CNOOC (CEO) rallied.…
Can’t Kill The Sims (ERTS, AAPL)
Electronic Arts Inc. (NASDAQ: ERTS) is often known for its overwhelmingly popular Madden and sports game franchises. Yet the Sims is the series that just keeps on giving. Because you can play The Sims…
News Escalates Technical Event in Solar Stocks (FCEL, STP, ESLR, SPWRA, YGE, TAN, FSLR)
We recently have noticed how more and more solar companies are seeing big gains on news, particularly in those which have recently raised cash in a seondary offering. We are starting to see further…
Cisco (CSCO) Video Traffic Forecast Trouble For Cable And Telecoms?
Cisco (CSCO) expected a staggering increase in IP traffic between now and 2013. A new report from the router company says that global IP traffic will quintuple in the five years ending in 2013. The primary…
Airline Stocks Become Reverse Proxy For Oil Again
The first week of May, crude moved around just over $50. Today it traded just above $69, a 38% increase over that period. Airline stocks have reacted badly to the news. No wonder, the…
Nokia (NOK) Loses Stock Market Derby Of Wireless Firms
Nokia (NOK) is by far the largest handset company in the world with a market share of 38%. It is strange that since the beginning of the year its stock has underperformed RIM (RIMM),…
Microsoft (MSFT): Bing Starts To Ding Yahoo! (YHOO)
Steve Ballmer is The Man. His persistance in pursuing search engine market share may finally be paying off which could sink Yahoo!’s (YHOO) chances of being turned around under new CEO Carol Bartz. New…
GM Plays A Manic Game Of Musical Chairs In The Boardroom
The government’s game of managing General Motors took another odd turn today as Ed Whitacre, the former CEO of AT&T (T), a man who know about phone lines but not assembly lines was named…
Another Hedge Fund ETF Launches (MCRO, QAI)
NYSE Euronext has begun trading the IQ Hedge Macro Tracker ETF (NYSE: MCRO), sponsored by IndexIQ Advisors LLC. This marks the second product by IndexIQ Advisors to list on NYSE Arca after its IQ…
FuelCell and POSCO in Korea: When Contracts Really Add Up (FCEL
FuelCell Energy Inc. (NASDAQ: FCEL) is screaming higher in early trading before the bell, and it is easy to see why. The company announced that POSCO Power ordered 30.8 megawatts of FuelCell Energy modules…
Yingli Scores Another Incremental Pact (YGE)
Yingli Green Energy Holding Company Limited (NYSE: YGE) has announced a new pact that has shares rising this morning. The company entered into a strategic sales agreement at the PV America conference in Philadelphia,…
Getting Out From Under the TARP (AXP, BK, BBT, COF, GS, JPM, STT, USB)
The Treasury is finally allowing some of the TARP recipient banks that posed the least systematic risk to begin repaying the Treasury’s preferred stock funds. This will get these institutions out from under as…
Top Analyst Upgrades (ATHN, BPSG, FWRD, JDAS, MRVL, MWA, SWY, STT)
These are some of the top pre-market analyst upgrades and positive research calls we have seen from Wall Street early this Tuesday morning with about two hours until the market opens: athenahealth (ATHN) Raised…
Top Analyst Downgrades (DNB, GG, HIG, MAS, MR, RMG)
These are some of the top pre-market analyst downgrades and cautious research calls we have seen early this Tuesday morning with about two hours until the open: Dun & Bradstreet (DNB) Started as Neutral…
Starbucks (SBUX) Raises Earnings By Cheating Customers?
It is a devilishly clever way for a company with flagging revenue to raise sales. Cheat customers by double charging them. According to several media outlets, as many as one million Starbucks customers were charged twice…
As YouTube Video Streams Top One Billion A Day, Service Flounders Financially
New data from TechCrunch indicates that Google’s (GOOG) YouTube has reached one billion streams served per day. The numbers probably mean that the service is losing much more than analysts figure, a number that…
Stressing The “Stress Test” System
Maybe the initial “stress tests” of America’s 19 largest banks were flawed. Or, perhaps taking a single snapshot is not an adequate way to measure the ever-changing financial system. The Congressional Oversight Panel which monitors…