Imagine That: An IPO Coming This Week (BMY, MJN)
If you can believe it, there is an initial public offering on deck this week. Bristol-Myers Squibb Co. (NYSE: BMY) is set to partially spin off Mead Johnson Nutrition (NYSE: MJN). It looks like…
All Work
Douglas A. McIntyre
Starbucks (SBUX) Reward For Cutting Prices: An S&P Downgrade
Starbucks (SBUX) announced today that customers will be able to buy a coffee and breakfast item for $3.95. Can Starbucks afford to do that with its relatively high costs of real estate, workers, and…
GE’s Biggest Day of a Lifetime (GE)
General Electric Co. (NYSE: GE) may have moved more today on a percentage basis than in any single day in many investors’ lifetimes.
The 52-Week Low Club
ViroPharma (VPHM) Drug trial fails. Huge drop to $4.89 from 52-week high of $15.16. Insight Enterprises (NSIT) Plans to restate earnings. Falls to $2.69 from 52-week high of $19.25. Popular Inc (BPOP) Concerns bank…
AOL MediaGlow Gets A Good Start (TWX)
AOL’s plan to capture a large part of the online ad market is to organize a number of brands, some of which don’t have the AOL name, into a new umbrella that the company calls…
Another Bad Year For DRAM in 2009
iSupply, the tech market researcher, noted that memory shipments were much softer than expected in Q4. While that part of the report is a no-brainer, iSupply is looking for 2009 to remain soft.
Gold Miner’s Shares Rise on Loss (AU)
South African gold miner AngloGold Ashanti Ltd. (NYSE:AU) shares are up about 1.5% this morning after the company reported a quarterly net loss of $17 million. The loss was primarily attributed to a write-down…
Valero’s Ethanol Dreams Via VeraSun Refineries (VLO, VSE)
Valero Energy Corp. (NYSE:VLO) has submitted a “stalking horse” bid for six properties offered by VeraSun Energy Corp. (formerly NYSE:VSE) as part of VeraSun’s bankruptcy sale. All told the six plants have a capacity…
Solar Power Maker Not So Bright (ENER, SPWRA, FSLR)
Energy Conversion Devices, Inc. (NASDAQ:ENER) reported its second quarter earnings before the market opened this morning. The company has net income of $14.2 million (EPS of $0.33) on revenue of $103.1 million. Analysts had…
Pershing Square’s Target (TGT) Fund Down Over 89.5%
Pershing Square’s William Ackman set up a hedge soley to invest in Target Corp (NYSE: TGT). As you can imagine, this hedge fund has taken a real beating. In fact, just in January, his…
Will Starbucks (SBUX) Kill Its Margins
Starbucks (SBUX) will begin offering $3.95 breakfast value meals of coffee and food. One argument against the move is that it will make the coffee chain seem too much like the local low-rent deli.…
Failed Banks Would Be Preferable to One ‘Bad Bank’
John Tamny RealClearMarkets In the past week alone, readers of the business press have been treated to a variety of disturbing headlines concerning the federal government’s role in the banking system. Subscribers to the…
Top Pre-Market Analyst Upgrades (ADBE, ALXN, BIG, NSR, PFE, WYE)
These are some of the top pre-market analyst upgrades and positive calls we have seen this Monday morning: Adobe Systems (ADBE) Raised to Outperform at Oppenheimer. Alexion Pharmaceuticals (ALXN) Started as Outperform at Leerink…
Top Pre-Market Analyst Downgrades (BIIB, HIBB, KIM, LEN, NWS, NS, OSG, PGI, RMD, TK)
These are the top pre-market analyst downgrades and negative research calls from Wall Street this Monday morning: Biogen Idec (BIIB) Cut to Underweight at Barclays. Hibbett Sports (HIBB) Cut to Underweight at JPMorgan. Kimco…
Barclays (BCS): A Ray Of Sunshine
Barclays (BCS) proved that not all earnings at global money center banks have to be a disaster. The company beat forecasts and posted a profit for the second half of last year. Barclays did…
Nissan: The Global Car Recession Takes Another Victim
Nissan hit the car industry with news that was worse than expected. It will not only post a very large loss for the year, it will cut 20,000 jobs. What is more stunning than…
A Treasury With Too Much To Do
The Treasury has too much to do. It will delay talking about its new overhaul for banks until Tuesday while it works with Congress to help finalize a new stimulus package which may have…
Media Digest: 2/9/2008: Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Nissan forecast an annual loss. Reuters reports that the Treasury has delayed it bank bailout announcement. Reuters writes that Fannie Mae (FNM) and Freddie Mac (FRE) will channel new money for…
Asia Markets And Europe Open
Markets in Asia were mixed. The Nikkei fell 1.3% to 7,970. The Hang Seng was up .9% to 13,781. The Shanghai composite rose 2% to 2,225. At the open in Europe, the Dax was…
Dow Chemical (DOW) Dissembles About Rohm And Haas Deal
Dow Chemical (DOW) continues to dodge the issue of why it will not close the transaction to buy Rohm and Haas. (ROH). Most analysts think that when a joint venture with Kuwait fell though Dow…