Oil refiner Tesoro Corporation (NYSE:TSO) reported fourth quarter earnings of $317 million (EPS of $0.99), excluding special items. On a GAAP basis, the company earned $97 million (EPS of $0.70). The company wrote down…
The bigger they are, the more noise they make when they fall. British miner Anglo American plc (NASDAQ:AAUK) has canceled its dividend for the fourth quarter, suspended its $4 billion share buyback program, and…
The China Development Bank appears to be following the maxim of uber-capitalist Warren Buffet: Be fearful when others are greedy, and be greedy when others are fearful. This week the Chinese announced an agreement…
The IPO market could optimistically be called “Dwindling.” It seems that the trend for withdrawn IPO’s is trumping new filings as the norm rather than actual deals making it to market. We have only…
TheStreet.com (Nasdaq: TSCM) released its Q4 results tonight and reported EPS of breakeven, in-line with the analysts’ estimates. Revenue for the quarter was $16.5 million, versus the consensus of $17.34 million. TheStreet has cut…
If you can imagine any good news at all on the economic front, inflation is running at very low levels. January’s CPI was +0.3% and +0.2% on the core level.
These are the top pre-market analyst upgrades and downgrades we have seen from Wall Street this Friday morning: Adaptec (ADPT) Raised to Outperform at Morgan Keegan. Cubist Pharamceuticals (CBST) Started as Accumulate at ThinkEquity.…
The good news from JCPenney (JCP) was that it finished the year with $3.4 billion in cash. The bad news is that the company is slowly disappearing. It expects same-store sales in the current…
Joseph Lazzaro, DailyFinance Oil surged more than 7% Thursday and briefly traded above $40, after U.S. weekly oil inventories unexpectedly declined. But traders don’t view it as a market reversal. The oil bulls are…
While some folks believe Piper Jaffray’s Gene Munster is an Apple perma-bull (his firm makes a market in AAPL stock), a look back will tell you Gene gets it right more often than his…
The New York Times (NYT) suspended its dividend. That says a lot about what it sees as it looks out of the next quarter. Print and online advertising must be getting much worse than…
Now that the DJIA has dropped below 7,500 it is clear that its next stop may be much lower. The market is still terribly concerned about the banking system. Rumors about better access to…
Will GM (GM) and Chrysler file for protection from creditors, their unions, and supplier costs? Now there is a recent precedent to do so, maybe they are more likely to. Saab went belly up.
Does the economy get worse from here or do the government programs recently signed into law increase confidence and start to put capital to work to create jobs and build businesses? In a downturn…
Layoffs at big companies are so common now that it is novel when a day goes by without Microsoft (MSFT), Caterpillar (CAT), or Macy’s (MC) letting thousands of people go. There are a relatively…
According to Reuters, Allan Stanford was found in Virginia. Reuters reports that the stimulus is unlikely to fix state problems. Reuters writes that US consumer prices probably moved up in January.
Markets in Asia were lower The Nikkei fell 1.9% to 7,416. The Hang Seng was down 2.5% to 12,703. The Shanghai Composite rose 1.5% to 2,261. In Europe, at the open, the FTSE was…
Meredith Whitney, one the most influential pundits in the financial sector today, has left Oppenheimer and has started Meredith Whitney Advisory Group. Today she told CNBC’s Maria Bartiromo that her outlook for the money…
Facebook may not make any money, now or in the future. It may only be worth 10% of its maximum valuation of $15 billion. But, in spite of all that it is one of…
SunPower Corporation (NASDAQ:SPWRA)is reaping the rewards today from two separate announcements. The company’s pact in California is coming to fruition, and a new 2.2 megawatt contract came from Italy. SunPower may not be immune…