Macy’s To Cut 7,000, And That May Not Be The End
Macy’s (M) will cut 7,000 workers, about 4% of its work force. The company says it will also slash its dividend. Macy’s same-store sales were off 4% in December. Many analysts believe that retailers…
All Work
Douglas A. McIntyre
Will India’s $10 Laptop Kill PC Business? (DELL, HPQ, AAPL, MSFT, RHT)
The massive power in the newest of low-cost PC’s is killing the computer companies PC’s are becoming about the same as refrigerators and toasters. And now the $10 laptop is on the verge of …
Cheap Eight O’Clock Coffee Beats Starbucks (SBUX) In Taste Test
Eight O’Clock Coffee 100% Colombian at $6.28 per pound ranked number one in Consumer Reports’ tests of 19 ground coffees, besting Folgers, Maxwell House, and Starbucks— America’s best-selling ground coffees. The independent testing firm…
Manufacturing & Construction, Dual Misery But Hints Of Decent News
Covering U.S. and global economic data is not exactly the most optimistic of topics today. The good news is that some of the bad news is not as bad it could be. Today’s additional…
Is Level 3 (LVLT) Close To Default?
Level 3 (LVLT) has been dogged by $6.4 billion in debt from M&A activity and virtually non-existent operating income. The tough credit environment is catching up to the firm. LVLT has $700 million in…
3M Joins the Renewable Energy Parade (MMM)
The 3M Company (NYSE:MMM) announced this morning that it was launching a new Renewable Energy Division. The division includes two business, Energy Generation and Energy Management. The Energy Generation business focuses on 3M products…
Cliffs Closes Coal Mine (CLF, PCX, CNX)
After the market closed on Friday, Cliffs Natural Resources, Inc. (NYSE:CLF) announced that it was closing its Pinnacle Mine in West Virginia for the month of February. About 360 employees "will be affected." The…
LNG Imports Rising?
Houston-based Waterborne Energy Inc. has long kept a close watch on liquified natural gas (LNG) and liquid petroleum gas (LPG) industries. The company monitors shipping movement around the world, and this morning the company…
Is JPMorgan’s (JPM) Jamie Dimon A Good Liar?
JPMorgan Chase’s (NYSE: JPM) CEO Jamie Dimon is clearly a smart guy, but he may also be a smart liar. On CNBC, and other media, Dimon said that the accusations against the banks that…
Odyssey’s Treasure For Shareholders (OMEX)
Odyssey Marine Exploration, Inc. (NASDAQ: OMEX) is a stock which investors and traders may have never heard of, but it is one of the true cult stocks out there. The company announced that it…
Income & Spending Much Worse Than They Sound
As you would imagine, personal income and spending are coming into negative territory. Incomes are still holding up relatively well, assuming you didn’t get laid off, and spending is continuing to soften. The good…
Barbie Loses Her Head (MAT)
Is the Barbie doll going the way of the Raphus cucullatus (Dodo Bird)? Mattel (MAT) posted awful sales for the last quarter. The toy company said revenue fell 11% to $1.94 billion from $2.19…
This Budget Deficit Is Different, and Dangerous
John Tamny RealClearMarkets Since the U.S. ran its first budget deficit, there have been arguments over the economic implications. The more austere among us have suggested we’re living on borrowed money that will eventually…
Top Analyst Upgrades (AKAM, BSX, CLX, CVA, ESRX, MCRS, PRXL, PFE, QSII, SGMS)
These are some of the top analyst upgrades and positive calls we are seeing this Monday morning: Akamai (AKAM) Raised to Buy at Merriman Curhan Ford. Boston Scientific (BSX) Raised to Overweight at Thomas…
Top Analyst Downgrades (AVP, CAH, ETR, ETFC, F, IP, ITRI, LAB, NDAQ, NYX, SNDK, WYN)
These are some of the top pre-market analyst downgrades and negative calls we have seen on Wall Street this morning: Avon Products (AVP) Cut to Neutral at Goldman Sachs. Cardinal Health (CAH) Cut to…
Toyota (TM) Production Forecasts For 2009 Now Down by Almost Two Million
Toyota (TM) has cut its production forecasts for 2009 for the third time. That is hardly good news for Ford (F) and GM (GM) which rely on a balance of foreign and domestic sales…
Apple (AAPL) May Still Try To Push Palm (PALM) Under
Most experts who follow Apple (AAPL) and the consumer electronics industry do not think that Jobs & Co. will use any of its large group of patents to prevent the release of a new…
“Bad Bank” May Force Another Look At Accouting Rules
Robert Rubin, former Treasury Secretary, head of Goldman Sachs (GS), and recently departed senior board member at Citigroup (C) has been telling anyone who will listen that "mark to market" accounting ruined big banks.…
China: More Indications Of Recession
More figures out of China indicate that factory production is falling quickly and unemployment is rising. Over the weekend, China’s premier Wen said he saw some hopeful economic signs in his country toward the…
Typhoid Mary And Finding The Man Who Started The Global Recession
Some communicable diseases can be traced back to what medical researchers call "patient zero", the first carrier of an illness and often someone who has no symptoms. One of the most notorious examples of…