The federal government has a small operation called the Office of Thrift Supervision, which, among other things, keeps track of mortgage defaults. It defies common sense, but the agency says that many people who…
The largest systematic example of inertia since the planets began to orbit stars is the US economy. Its gigantic weight makes it hard to turn, either in the direction of expansion or contraction. When…
According to Reuters, Obama set out his goals in an address before Congress. Reuters reports that UAW leaders are urging members to vote for the new Ford (F) contract. Reuters reports that The San…
Markets in Asia were higher. The Nikkei rose 2.7% to 7,461. The Hang Seng was up 1.3% to 12,958. The Shanghai Composite rose .7% to 2,209. At the open in Europe, the FTSE was…
American International Group (AIG) Needs more government funding. Down to $.38 from 52-week high of $52.25. Office Depot (ODP) Posts a loss for the last quarter. Plunges to $1.02 from 52-week high of $14.39.…
First Solar, Inc. (NASDAQ: FSLR) posted earnings of $1.61 EPS on revenue of $433.7 million. Thomson Reuters (First Call) estimates were $1.30 EPS on $410.4 million in revenues.
How long has it been since a company announced a stock split? More importantly, when was the last from a fairly large company? I can’t recall that off the top of my head either. …
As Chairman of the Federal Reserve, Ben Bernanke is still a powerful and influential figure whether he is considered a “legacy” of the Bush administration or not. Unlike Geithner, Bernanke is not considered an…
Siruis (SIRI) may be in the process of successfully reorganizing it balance sheet, but it is still up against what appears to be deteriorating retail store sales. According to a new 24/7 Wall St.–Channel Checkers survey…
For the past couple of years, diesel fuel prices have been higher than gasoline prices. In the US, that is a real anomaly. Now, industry observers are predicting a return to normalcy, with prices…
If you thought the Conference Board’s reading of consumer confidence was bad at 37.4 in January, you should see the carnage in February. Economists were expecting a mild decline from already-suppressed levels down to…
Corn growers in Illinois have released a study they commissioned on the land use effects of ethanol plants. The growers wanted to counter the argument that demand for ethanol as a fuel additive was…
FirstEnergy Corporation (NYSE:FE) reported 2008 EPS of $4.38, higher than anticipated EPS of $4.33. Revenue for the year also beat expectations, coming in at $14.6 billion compared with average estimates of $14.51 billion. What…
If you thought things were tough in the economy for retailers and apparel manufacturers, Goldman Sachs thinks they are going to get worse. Under Armour, Inc. (NYSE: UA), Columbia Sportswear Company (NASDAQ: COLM), and…
Microsoft (Nasdaq: MSFT) CEO Steve Ballmer is stirring up Yahoo! (Nasdaq: YHOO) speculation again, speaking at an analyst conference this morning. Some comments: CEO Steve Ballmer sees huge opportunity in search, advertising. Wants to…
Housing prices continue to cascade. According to the new S&P Case-Shiller Home Price Index, home prices dropped nearly 19% in the fourth quarter, a record. In the ten largest cities in the US, the decline topped…
BlackRock, Inc. (NYSE: BLK) is launching a new fund that is designed to essentially be a vulture in fixed income securities. This is is technically a distressed fund being created to take advantage of…
By John Tamny, RealClearMarkets In the past week a number of boldfaced names including Sen. Lindsey Graham, Harvard economist Greg Mankiw, economist of the moment Nouriel Roubini, and ex-Fed Chairman Alan Greenspan have suggested…
These are some of the top pre-market analyst upgrades and downgrades we have seen on Wall Street early this Tuesday morning: Intercontinental Hotels Group plc (IHG) Raised to Buy at Jefferies. Marvell Tech (MRVL)…
A guest on CNBC this morning predicted that Gold was ready to go through the roof. The 20 to 25 year unwinding of the credit boom has led Hans Goetti, Chief Investment Officer of…