Housing Catches Up With Home Depot (HD)
It was probably predictable that the housing market would catch Home Depot (HD) from behind and drag it to the ground. That certainly happened last quarter. Home Depot reported a fiscal 2008 fourth quarter…
All Work
Douglas A. McIntyre
Dumping Dead Beats–American Express (AXP) Buys Out Members
At American Express (AXP) customers are not called customers. They are called “members.” Warren Buffett has probably been a member since 1955. George Soros may go all the way back to 1950. Amex prides…
China’s Next Problem–Deflation
China’s central government is worried about deflation. The problem may be bad for the world’s most populous country, but good for the rest of the world. China’s unemployment rate maybe rising as it shuts…
Genentech (DNA) Will Regret Turning Roche Down
The board of Genentech (DNA) turned down an $86.50 offer by Roche to buy the part of the company that it does not already own. Until about a month ago, the offer had been…
In Defense Of General Electric (GE)
Investors have deserted GE’s stock over the last week like draft dodgers fleeing to Canada. The firm’s shares fell more than 20% over the five trading days, and now sit near a multi-year low…
Media Digest 2/24/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, JPMorgan (JPM) cuts its dividend. Reuters reports that AIG (AIG) got bids from Met Life and Axa for its life unit. Reuters says that healthcare spending is taking a higher percentage…
Asia Markets And Europe Open 2/24/2009
Markets in Asia were sharply lower. The Nikkei dropped 1.5% to 7,269. The Hang Seng fell 2.9% to 12,787. The Shanghai Composite was down 4.6$% to 2,201. At the open, in Europe, that FTSE…
AIG’s (AIG) Plan To Bleed The Government Dry
Management at AIG (AIG) has calculated exactly how much money the Treasury and Fed will have access to after all of the TARP, financial stimulus, and mortgage bailout projects have been funded. The insurance…
The U.S. Does A Little Begging In China
By Douglas A. McIntyre, 24/7 Wall St. for DailyFinance.com China owns, by most accounts, the largest pool of U.S. Treasuries in the world. It continues to buy them, helping the U.S. to fund its…
JPMorgan (JPM) Trades A Dividend For A Rainy Day Fund
To hear the management at JPMorgan (JPM) talk, the bank does not have to cut its dividend, but it would be nice to keep the extra money each quarter, just in case things do…
JPMorgan Chase All But Murders Its Dividend (JPM)
As we have been expecting in the banking sector, JPMorgan Chase & Co. (NYSE: JPM) is leading the way for more and more banks to cut their dividends. The company announced plans to slash…
Nordstrom Earnings & Outlook: When Bad Is Good Enough (JWN)
Nordstrom Inc. (NYSE: JWN) reported terrible earnings. Interestingly enough, the report from the high-end retailer is looking “good enough” when you consider the state of many retailers.
The 52-Week Low Club (AIG)(ADBE)(SCHW)(INTC)
Intel (INTC) Tech loses its immunity. Concerns about PC and server sales. Drops to $12.05 from 52-week high of $25.29. Schwab (SCHW) Retail traders fleeing the market? Falls to $12.10 from 52-week high of …
Does Intel Need Cash? (INTC)
Intel Corporation (NASDAQ: INTC) has filed an automatic shelf registration statement with the SEC. This will allow the company or holders to sell securities from time to time. As with most shelf registration statements,…
The 24/7 Wall St.-Channel Checkers Survey: Apple (AAPL) Sales Soft In February
According to the 24/7 Wall St.-Channel Checkers Survey, Apple (AAPL) iPod and Mac sales remained soft in February. The current check was finished two days ago. Based on data from fifteen Apple stores, 66%…
When Stockpiling Gold Becomes Hoarding Gold (STT, GLD)
An affiliate of State Street Corporation (NYSE: STT) reported this morning that its ETF SPDR Gold Trust (NYSE: GLD) has amassed more than $30 billion in assets. That makes the trust second only to…
Ford (F) Agreement With UAW Pressures GM (F)
Ford (F) has come to an agreement with the UAW which will cut the car company’s costs enough so that it can afford to pass on taking any money from the federal government to…
What About Hydrocarbons In Stimulus Package?
The $797 billion economic stimulus bill signed by the president last week includes about $8 billion to $9 billion in federal money to push research and development on clean energy. While that’s only about…
Odd Merger: Middle East & Chemicals, Redux (NCX, ROH, DOW)
Nova Chemicals Corp. (NYSE: NCX) is the largest percentage winner on the NYSE today. It is up about 300%. Yep 300… The company is being acquired in a deal involving the Middle East. Does…
Beacon Power Gets a Grid Connection (BCON, AEP, NGG)
In a deal that is more valuable for demonstration purposes than for real income, Beacon Power Corporation (NASDAQ:BCON) will install a 1-megawatt flywheel-based frequency regulation facility at an American Electric Power Corporation, Inc. (NYSE:AEP)…