Venoco, Incorporated (NYSE:VQ) announced this morning that it will cut its capital spending in 2009 to $150 million. As recently as last November, Venoco had planned to spend $400 million on capex in 2009.
If we told you on Friday that a decent-sized medical merger was coming with a 100% premium, you probably wouldn’t have believed it. We are having a hard time believing it even after the…
Calling last week a rough spot for Rambus, Inc. (NASDAQ: RMBS) might be the understatement of the year. This was after a federal judge in Delaware ruled that the chip patent shop could not…
John Tamny RealClearMarkets Amid the U.S. economy’s continuing struggles, conventional wisdom has suggested that Americans must spend in order to bring the economy out of its slump. Along those lines, a recent newspaper beamed…
These are some of the top early bird upgrades and downgrades we have seen from Wall Street analysts this Monday morning: Agilent (NYSE: A) Raised to Outperform at Baird. Gentex (NASDAQ: GNTX) Raised to…
The list of problems that could hurt bank earnings is already pretty long. The first big problem was mortgage-backed securities. That was followed by consumer credit write-offs. Then came loans for commercial real estate.…
Shares in CBS (CBS) are down almost 65% over the last year, much more than the DJIA and other major media companies. Part of the reason is that the firm is poorly diversified and…
No one being seating in the next Congress, the 111th United States Congress, is likely to accused of beating his wife, using the wrong fork, or passing gas while speaking with a head of…
What will happen next on Citigroup’s board or among the ranks of its senior management involves a guessing game. By several accounts, chairman Win Bischoff is leaving. But, he has been on his way…
No one working in the media industry will ever have seen a year as bad as 2009 will be. The sharp slide in advertising began in 2008, and, based on the worsening economy, there…
According to Reuters, Citigroup (C) is near a deal to form a venture putting its brokerage business together with the one at Morgan Stanley (MS) Citi would be paid about $2 billion. Reuters reports…
Markets in Asia were lower. The Nikkei did not trade due to a holiday. The Hang Seng fell 3% to 13,946. The Shanghai Composite was off .2% to 1,900. At the open in Europe,…
Imagine millions of Americans owning antique cars. A 1966 Ford Fairlane is worth almost $140,000. A 2001 Chrysler Prowler $40,000. Consumers are keeping their vehicles much longer because they cannot afford to buy new…
It seems that the newspaper industry changes are not going to slow down any time soon. An ominous announcement came across Business Wire today saying Hearst Corporation intends to jettison the Seattle Post-Intelligencer and…
The WSJ first reported that famed ex-Treasury Secretary Bob Rubin will be leaving the board of directors at Citigroup Inc. (NYSE: C). This has now been confirmed in multiple reports elsewhere. This follows about…
The business of trucking and transporting goods has not been a stellar for quite some time. In 2007 to 2008, the sector was hurt by escalating gas prices and an inability to pass on…
UniStar Nuclear Energy, a joint venture between Electricite de France (EDF) and Constellation Energy Group Inc. (NYSE:CEG), and PPL Corporation (NYSE:PPL), a UniStar partner, have passed the first regulatory review on the road to…
Boeing Co. (NYSE: BA) has decided that it wanted to get into the business of pink slips. The aerospace and defense giant announced that it plans to shed some 4,500 workers. The cuts are…
Baker Hughes Incorporated (NYSE:BHI) released its monthly rig count report this morning. Compared with November counts, drilling rigs in North America are off about 9%. Compared with December 2007, North American rigs are down…
It is beginning to dawn on Wall St. that jobs are not the only thing that retailers will be cutting. The value of their stores, inventories, and any past M&A deals may be on…