Bracing For Outrage Over Citi Executive Offices (C)
If you thought that lavish spending was over on Wall Street, there is going to be a new point of outrage this morning for all the whiners. Citigroup Inc. (NYSE: C) is spending roughly…
All Work
Douglas A. McIntyre
Citi Plans Reverse Split & Share Conversions (C)
If you thought things were going to get quiet at Citigroup, Inc. (NYSE: C) after the 200% run up of late, they aren’t if this morning’s news comes to fruition. The company has issued…
Top Analyst Downgrades (ARMH, CHU, ERIC, EXPE, GGG, MTB, SNE, TEX)
These are the top downgrades and negative research calls we have seen so far from Wall Street analysts this Thursday morning: Arm Holdings (ARMH) Cut to Neutral at Goldman Sachs. China Unicom Hong Kong…
Top Analyst Upgrades (AA, WTR, BEC, CWT, CHRT, CHA, GAS, NOK, PNY, WW)
These are the top upgrades and positive research calls we have seen from Wall Street analysts so far early this Thursday morning: Alcoa (AA) Raised to Overweight at JPMorgan. Aqua America (WTR) Raised to…
Gannett (GCI) Says USA Today Revenue May Drop 35%
The downturn in newspaper ad revenue has gone from awful to extraordinary. Gannett (GCI) told analysts that sales at its flagship USA Today paper could be down as much as 35%. That would certainly…
Courts May Wreck Sony (SNE) And Google’s (GOOG) Challenge To Amazon (AMZN)
Sony (SNE) and Google (GOOG) plan to launch a partnership to challenge to Amazon’s (AMZN) modestly successful e-book reader. According to The Wall Street Journal, the project will “give users of the Sony Reader…
Even Chinese Cellular Markets Face Problems
China Mobile (CHL), the world largest cellular service provider, posted strong earnings for last year, but that may be the extent of the good news. Company revenue grew, reaching RMB 412,343 million, up 15.5 %…
Confidence May Be Too Low For Fed To Help
The news that the Fed would buy as much as $300 billion in long-term Treasuries and up to $1.25 trillion of mortgage-backed securities issued by Fannie Mae (FNM) and Freddie Mac (FRE) caused the stock…
Citigroup (C) Becomes The Best Bank In The World Overnight
Citigroup (C) shares are going up every day now, gaining 23% yesterday. So far, the stock has gone from a low of $.97 to $3.20 in just a few weeks. The reason Citi stock…
A Renaissance for Big Acquisitions
A large part of the money that was made by banks and investment banks from 2004 through most of 2007 was made from mergers and acquisitions. When the credit markets fell apart, the financing…
Will GE be able to allay investors’ concerns?
By Melly Alazraki of DailyFinance General Electric Co. (GE) is going to host a five-hour “deep dive” conference on Thursday in which it will attempt to convince investors that its wobbling GE Capital unit…
Media Digest 3/19/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, the Fed’s plans to buy Treasuries is like a program called “Operation Twist” which was part of the agencies effort to help the economy almost fifty years ago. Reuters reports that…
Oracle Hates The US Dollar (ORCL)
Oracle Corp. (NASDAQ: ORCL) posted better-than- expected earnings after the close of trading. It is also going to start paying a dividend. But where this gets interesting is that Oracle would be doing so…
S&P Takes 3M Down A Notch (MMM, GE)
Standard & Poor’s has just downgraded conglomerate 3M Company’s (NYSE: MMM) corporate credit and senior unsecured ratings to “AA-” from “AA.” It affirmed the “A-1+” short-term credit rating and the new outlook is listed…
Spint (S) Losing Ground With New Products: Improvements At AT&T (T) And Verizon (VZ)(VOD)
Sales of the new Samsung Instinct are not helping Sprint (S) very much. Of all the handsets the No.3 US cellular carrier sells, the Instinct ranks N0.15 in terns of unit sales and No.7…
FOMC Massively Gooses Gov’t. Balance Sheet
The FOMC has come in with no rate change as we had expected. When it is already at a near-zero rate policy, there was no other outcome. The Fed Funds Target Rate was left…
Bracing For Oracle Earnings (ORCL)
Oracle Corp. (NASDAQ: ORCL) is set to report earnings after the close of trading today. The enterprise software giant is expected to post non-GAAP earnings of $0.32 EPS and $5.45 billion in revenue according…
Is Oil Keeping Gold From Hitting $800? (OIL, USO, GLD)
Conventional wisdom has it the the price of gold tracks the price of crude oil. As oil rises, so does gold, and vice-versa. Probably the simplest explanation for the phenomenon is that the price…
Unexpected Oil Inventory Rise Takes A Bite (USO, OIL)
Oil may have just gotten some wind taken out of its sails after flirting with $50.00 per barrel late yesterday. The DOE just released its weekly inventory data showing another build across the board. …
Exelon Fires Another Round (EXC, NRG, RRI)
Exelon Corporation (NYSE: EXC) has filed its preliminary proxy statement for the 2009 annual meeting of NRG Energy, Inc. (NYSE: NRG). NRG still hasn’t scheduled the meeting, but Delaware law requires that the meeting…