According to MarketWatch, "Standard & Poor’s cut the credit rating or outlook of 12 major U.S. and European financial institutions Friday, saying the move reflected its view of the significant pressure on large, complex…
The sitting government in Russia has not had this much fun since Vladimir Lenin died. Falling oil prices, now sitting well under $40 a barrel. are forcing the Russian government to shut down almost…
The Bush White House let it leak out yesterday that it was looking at Chapter 11 as a possible way to deal with GM (GM). The news is an acknowledgment that suppliers, creditors, and…
The horses are off and running at Santa Anita. Banks cannot wait to get their hands on a new set of accounting rules that will almost certainly make their earnings look better. Taken to…
Just when credit card issuers from Mastercard (MA) to Citigroup (C) need the extra money due to deadbeats, the federal government is going to make it hard for them to get it. Default rates…
The new administration will ask Congress for close to $800 billion to stimulate the economy and get America back on the road to recovery without straining the capacity of the map makers. By the…
According to Reuters, GM (GM) and Chrysler are close to a loan deal with the government. Reuters reports that Obama will ask for a major stimulus package focusing on infrastructure and helping state finances.…
Markets in Asia were mixed The Nikkei fell .9% to 8,589. Toyota (TM) fell on word it might post a loss. The Hang Seng was down 1.9% to 15,208. HSBC (HBC) was off on…
As if Citigroup Inc. (NYSE: C) had any real strength to its ratings, Moody’s has downgraded Citigroup’s senior debt. Interestingly, Moody’s says that this downgrade was moderated by the expecation that Citigroup will probably…
RIMM had already told Wall St. what to expect for the quarter. Two weeks ago the company forecast $.81 to $.83 per share, excluding one-time items, on sales of $2.75 billion to $2.78 billion…
Oracle Corp. (NASDAQ: ORCL) posted non-GAAP earnings of $0.34 EPS and $5.7 billion in revenue compared with First Call estimates of $0.34 EPS and $5.84 billion in sales. There is more data that impacted…
McClatchy Newspapers (MNI) Drops to $.98 as shareholder panic. The 52-week high is $13.31. Stone Energy (SGY) Cuts production view for quarter. Drops to $8.47 from 52-week high of $73.96. Nortel Networks (NT) falls…
Standard & Poor’s issued a report that is being taken a "downgrade-light" by many traders. S&P has revised its outlook on General Electric Co. (NYSE: GE) and units including GE Capital Corp. to negative…
What appears to be a wave of panic-driven selling is taking shares in newspaper chain McClatchy (MNI) down 26% to a new multi-year low of $1.10. The stock has a 52-week high of $13.31.…
Alliant Energy Corp. (NYSE:LNT) this morning released financial guidance for 2009. The company also noted that it has reached an agreement with the state of Wisconsin on a rate case settlement that will keep…
After the close of trading today, Larry Ellison & Co. is set to report earnings for Oracle Corp. (NASDAQ: ORCL). Thomson Reuters (First Call) has earnings estimates of $0.34 EPS on $5.84 billion in…
Research in Motion Ltd. (NASDAQ: RIMM) is set to report earnings at the close today. The Blackberry smartphone maker is expected to post earnings (from First Call, Thomson Reuters) at $0.83 EPS and $2.82…
Credit rating agencies and stock analysts have the habit of stating the obvious after the obvious is obvious to everyone else. S&P cut its price target on GM (GM) today. A bit later, the…
SRI Consulting published a new report on producing crude oil from western Canada’s oil sands deposits. The report concludes that "with rational engineering and prudent business decision making, grass roots tar sands projects should…
Citing unavailability of credit to "some solar customers," MEMC Electronic Materials, Inc. (NYSE:WFR) lowered its fourth quarter 2008 revenue guidance from $500 million to $400-$425 million. The company also projects that gross margins will…