Asia Markets And Europe Open 4/28/2009
Markets in Asia were lower. The Nikkei was down 2.7% to 8,494. The Hang Seng was off 2.1% to 14,532. The Shanghai Composite was off .2% to 2,401. At the open in Europe, the…
All Work
Douglas A. McIntyre
Baidu Floats Past Targets (BIDU)
Chinese online search leader Baidu, Inc. (NASDAQ: BIDU) has reported its quarterly earnings. Its earnings came in at $0.76 net EPS and posted $0.86 non-GAAP EPS on $118.6 million in revenue versus estimates from…
SunPower Raising Cash (SPWRA, SPWRB)
SunPower Corporation (Nasdaq: SPWRA; SPWRB) intends to offer 9,000,000 shares of its class A common stock and $175 million worth of senior convertible debentures due 2014 in registered public offerings. Credit Suisse and Deutsche…
Northern Trust Raising Cash To Pay Off TARP (NTRS)
Northern Trust Corporation (NASDAQ: NTRS) is selling some $750 million worth of common stock in a public secondary offering. Simultaneously, the bank intends to offer some $500 million in principal amount of senior notes. …
Flu Stock Index Continues Move Up (BRCX)(PURE)(NVAX)
The Tickerspy index of swine flu and bird flu stocks is up 21% as the market nears its close. The index is being pushed higher by share in Biocryst Pharma (BRCX), which is up…
Eleven Of Twenty-Five Largest US Newpapers Lost More Than 10% Of Circulation
At one point, three or four years ago, for a major metropolitan newspaper to lose 4% or 5% of it daily circulation would have been considered bad news. For the six month period ending…
FDIC’s Sheila Bair Calls Liquidity Crisis Over
FDIC Chairman Sheila Bair has been speaking today at a luncheon at the Economic Club of New York today. While there were many more things noted, there are two standout issues that she said…
Dendreon’s 24-Hour Countdown With Options (DNDN)
Using stock options in Dendreon Corp. (NASDAQ: DNDN) shows that the expectations of major price moves have not let up, and the company’s stock is trading up yet again ahead of the data due…
The Life and Death of the Social Network
The glory days are over By Chadwick Matlin of The Big Money There has been a death in social networking’s social network. Last week, News Corp. (NWSA), MySpace’s owner, pushed out site co-founder Chris…
Is GM (GM) Worth $130 Billion?
On news that GM (GM) has put together a new and very aggressive restructuring program, its shares are higher by 22% to $2.07, which gives the company a market cap of $1.28 billion. With…
Will Gold Get the Flu? (GLD, GDX, IAU)
Gold is not being used by industry right now and demand for jewelry remains highly unexciting, but many traders are still using the shiny metal stuff for the ultimate flight to safety for protecting…
Trouble Continues in Oilfield Services (SII, HAL, WFT, SLB)
Well drilling and completion services just aren’t paying off for anyone this reporting season. Smith International Inc. (NYSE:SII) reported diluted EPS of $0.44 on revenues $2.41 billion. After deleting a restructuring charge of $34.8…
Pipeline to Profits is Clogged (EPD, KMP, PAA, BSR)
Enterprise Products Partners LP (NYSE:EPD) reported first quarter earnings of $237.3 million (earnings per unit of $0.41) on revenues of $3.42 billion. In the first quarter of 2008, the company reported earnings of $272…
Airlines Hit By UBS & Swine Flu (CAL, AMR, LCC, UAUA, XJT, CPA)
Airlines are getting hit hard this morning before the open on two issues: swine flu and an analyst downgrade. UBS has downgraded the US legacy airline sector in a broad call and the impact…
GM (GM) Shares Jump On Plans To Hammer Bondholders
GM (GM) has decided to go for all or nothing with its bondholders. They can swap their debt of stock, under unfavorable terms, or take their chances in bankruptcy court. The final stage of…
Crocs Tries To Lure Athletes; New Line, Same Look (CROX)
Crocs, Inc. (NASDAQ: CROX) is one of the brands that has come at-risk over its future. The company is also flying under the “going concern” flag from auditors. And now it is bringing a…
Forget Inflation Targets, Go for Dollar-Price Stability
John Tamny of RealClearMarkets Recently, Nashville’s Vanderbilt University staged an economic conference at which past and present heavy hitters in the area of monetary policy participated. Attendees included Federal Reserve Vice Chairman Donald Kohn,…
Top Analyst Upgrades (AZN, BMR, ETR, MMM, NFLX, NVO, SWK)
These are some of the top pre-market analyst upgrades we have seen from Wall Street early this Monday morning: AstraZeneca (AZN) Raised to Buy at UBS. BioMed Realty Trust (BMR) Raised to Outperform at…
Verizon’s (VZ) Mediocre Results
Verizon (VZ) posted modest results for the first quarter of the year. Taking out the effects of its buy-out of Alltel, revenue rose 3.3%. With Alltel factored in Verizon’s total operating revenues grew 11.6%…
Top Analyst Downgrades (BJS, BUCY, BNI, INTU, JOYG,PBR, TKC, WFMI)
These are some of the top pre-market analyst downgrades we have seen early this Monday morning from Wall Street: BJ Services (BJS) Cut to Market Perform at Wachovia. Bucyrus (BUCY) Cut to Neutral at…