The Sun Sets On BusinessWeek, Forbes, And Fortune
The May 11 issue of Fortune Magazine is a perfect demonstration of what the three largest business magazines have done for decades. Its cover story, “How Bernie Did It’ is the culmination of a…
All Work
Douglas A. McIntyre
Obama: Wrong That Wall St. Will Shrink (MS)(GS)
Wall St. is not going to be as big a player in the economy as it has been, if President Obama is right. He may not be. Commenting on how much of the economy…
Dendreon Insiders Unload Stock (DNDN)
There was an interesting twist in the ongoing Dendreon Corp. (NASDAQ: DNDN) story that developed after 5:00 PM Friday. There was a whole series of FORM 4 filings insider sales filings with the SEC. …
“Stress Tests” Point To Need For $150 Billion? Speculation Becomes Absurd
How much will the 19 banks that were subjected to the government’s “stress test” need to raise? No one knows and guesses range as high as $150 billion. But, guesses may be well off…
Government And Citigroup (C) Do Battle Over $10 Billion
The government says that Citigroup (C) needs to raise $10 billion. Citi believes otherwise. According to The Wall Street Journal, if the bank’s view of its status prevails, “Citigroup could wind up having a roughly…
April Car Sales: Worse For The Japanese Than Detroit (TM)(HMC)(GM)(F)
In a bit of a role reversal, the US light vehicle sales of the large Japanese car companies did worse than The Big Three for the month of April. But, no one did well.…
Buffett & Berkshire Primer Ahead of Annual Meeting (BRK-A, BRK-B, BNI, USG, TIF, HOG)
This weekend will mark the annual shareholder meeting for Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B). In the past, this has been considered the Financial Woodstock. But this is a much different year. Berkshire…
Lower Rig Counts Still Stabilizing (BHI, USO)
Baker Hughes Inc. (NYSE: BHI) has released the weekly rig counts. The bad news is that these rig counts are still declining. The good news is that this really appears to be stabilizing at…
Diamondback Energy Services Cancels IPO
Diamondback Energy Services, Inc. has filed with the SEC to withdraw its filing for an initial public offering of common stock. It actually looks like the first filing goes all the way back to…
Taking the Economy’s Temperature—Via Newspapers
Dow Jones says it can measure economic sentiment by reading the press. By Nancy Miller of The Big Money Just as a technological revolution is blowing up newsrooms across the country, Dow Jones has…
SEQUENOM’s Next Wave of Issues: Lawyers (SQNM)
Sequenom, Inc. (NASDAQ: SQNM) is trading higher today after the huge implosion yesterday. With a short interest of close to 30% of its whole float and with day traders and bottom-fishers getting in the…
Factory & Manufacturing Data, Mixed to ‘Less-Bad’
The Institute for Supply Management released its manufacturing data for April and we also saw March Factory Orders. The April data from the ISM looks favorable compared with March and to the consensus estimates. …
JPMorgan Cuts Banks: Reflections on Its Own Business (JPM, BAC, C, USB, WFC, STI, BRK-A)
J.P. Morgan Chase & Co. (NYSE: JPM) has issued a negative bank research call for the major money center and super-regional banks this morning. Bank of America Corporation (NYSE: BAC), Citigroup, Inc. (NYSE: C),…
Chevron Clears Low Bar (CVX, XOM)
Chevron Corporation (NYSE:CVX) reported EPS for the first quarter of 2009 of $0.92, down 64% from EPS of $2.48 for the same period a year ago, but better than consensus estimates of $0.81. Revenues…
Print Advertising At The Washington Post Down 33%, Kaplan Sales Bolster Top Line
The Washington Post (WPO) turned in earnings that showed just how important it is that the company owns the Kaplan education business. That results at Kaplan helped offset a 33% advertising revenue decline at…
NRG Wins In Reliant Deal (NRG, RRI, EXC)
NRG Energy Inc. (NYSE:NRG) has completed its $287.5 million cash acquisition of Texas retail business of Reliant Energy Inc. (NYSE:RRI). This could have an impact on the ongoing battle over a proposed deal involving…
Top 10 Analyst Calls (AMSF, AMCC, DMND, DLB, GDP, FLO, QLGC, RHT, SONS, URBN)
These are ten of the top research calls with upgrades and downgrades from Wall Street analysts this Friday morning: Amerisafe (AMSF) Raised to Outperform at Oppenheimer. Applied Micro Circuits (AMCC) Raised to Outperform at…
Home Sales Show No Sign Of Recovery As Mortgage Rates Hit New Lows
Freddie Mac (FRE) reports that mortgage rates are at record lows with 30-year fixed-rate loans down to 4.78% The drop does not seem to be doing much for the housing market. Recent data released…
Government Moves Toward Releasing Detailed Stress Test Results
Shares in some large banks are about to plunge. Reuters reports that “U.S. officials are leaning towards announcing the `stress test’ results of individual banks next week instead of just summary results.” That is…
Citigroup (C) Starts To Dig Out Of Its Hole
Bank examiners wearing black suits and white shirts have already been to the Citigroup (C) headquarters in Manhattan to tell CEO Vikram Pandit how badly his company did on recent stress tests performed by…