Mark Cuban Is Innocent, According To Him
Mark Cuban claims he in innocent of insider trading of shares in Mamma.com He short defence from his own website: I wish I could say more, but I will have to leave it to…
All Work
Douglas A. McIntyre
IPO Withdrawal: ChemoCentryx (GSK)
On Friday, ChemoCentryx Inc. filed to withdraw its pending registration for an IPO of up to $57.5 million. The market conditions of today are cited as the reasoning. The Mountain View, California-based company said…
It Couldn’t Happen To Nicer Guy: Mark Cuban Charged With Insider Trading
According to The Wall Street Journal, monumentally wealthy Mark Cuban, has been charged with insider trading in shares of Mamma.com aka Copernic (CNIC). If things go badly, maybe Cuban will have to sell The…
Are Bear Market Rallies The Best Case For Now?
Everyone keeps asking why the stock market selling persists, yet they are the same reasons that were there in the weeks and months before the election. The difference today is that now the election…
Memo From Eliot Spitzer To Obama Via The Washington Post
Eliot Spitzer has a few choice words for Obama about what to expect when the new president begins his repair and reclamation work on the financial markets. The Washington Post ran the piece as…
Gold Miners Digging a Deeper Hole (ABX, GG, NEM)
Gold mining stocks have a real challenge in the current environment. The top companies like Barrick (NYSE:ABX), Goldcorp (NYSE:GG), and Newmont (NYSE:NEM) are doing all they can to reduce costs in the face of…
Pirates Grab Saudi Oil Tanker
The US Navy reports this morning that a Saudi-owned tanker, the Sirius Star along with its crew of 25, has been hijacked about 450 miles southeast of Mombasa, Kenya. This attack is just the…
An Appeal To Reason
by John Tamny, RealClearMarkets Nigel Lawson, chancellor of the Exchequer under Margaret Thatcher, and author of three books–including his essential account of the Thatcher years, The View from No. 11: Memoirs of a Tory…
Will Grey Wolf and Precision Drilling Finally Tie the Knot? (GW, PDS, BAS)
The buyout of US driller Grey Wolf (NYSE:GW) by Canadian drilling company Precision Drilling Trust (NYSE:PDS) got its start back in April, when oilfield services company Basic Energy Services (NYSE:BAS) made an offer to…
24/7 Day Trading Alerts (BIDU)(DELL)(APWR)(UTHR)
China search engine company Baidu (BIDU) is trading down on heavy volume, perhaps due to competition with Google (GOOG). Details…. A-Power Energy Generation Systems (APWR) diving. Details… United Therapeutics (UTHR) hammered due to disappointing…
Big Time Economists Whistle Past The Graveyard
The latest poll from The National Association of Business Economists is remarkable in both its optimism and its lack of any grasp of the serious problems the economy faces. According to Reuters, the group…
Top Pre-Market Analyst Downgrades (ANF, ATVI, AA, CB, DELL, ERTS, FCX, MTL, STP)
These are the top research downgrades and negative analyst calls we are seeing this Monday morning with more than two hours to the open: Abercrombie & Fitch (ANF) Cut to Market Perform at FBR.…
A Sucking Sound At The IMF
The IMF will need more money. That should come as no surprise given the number of countries likely to come to it for bailout cash. According to Reuters, "International Monetary Fund (IMF) Managing Director…
Will Citigroup (C) Be Sold To JP Morgan (JPM) Or Taken Over Like AIG (AIG)?
If the press is right, Citigroup (C) is about to hold a big pep rally with its CEO Vikram Pandit raising the cheer followed by an announcement that it will fire another 35,000 people.…
GE (GE) To Buy Assets To Add To Those It Can’t Run Now?
The business principle of spreading risk makes sense unless it is only risk which is being spread with no hope for reward. GE (GE) has not made much of a case for being a…
Auctioning Detroit To The Japanese And Germans (TM)(GM)(F)(HMC)
When it comes to the trouble with the US car industry and a potential government bailout, the first and most important consideration is that no one is at fault. The dog ate everyone’s homework.…
Media Digest 11/17/2008 Reuters, WSJ, New York Times, FT, Bloomberg.
According to Reuters, Japan has fallen into a recession. Reuters writes that the top seven executives at Goldman Sachs (GS) will take no bonuses. Reuters reports that a poll showed that many American believe…
Asia Market and Europe Open 11/17/2008
Markets in Asia were mixed. The Nikkei rose .7% to 8,523. The Hang Seng fell .2% to 13,510. The Shanghai Composite was up 2.2% to 2,020. The FTSE opened down .7% to 4,024. The…
Brilliant Move: Goldman Sachs (GS) Says Top Seven Execs Will Skip 2008 Bonuses
In a remarkably shrewd move, the top seven executives at Goldman Sachs (GS) will give up their 2008 bonuses. That should keep Congress and regulators off the investment bank’s back and allow it to…
Republicans Begin To Turn Against Detroit Bailout, Increases Chances of Bankruptcies
With the Fed and Treasury apparently willing to sit on the sidelines while GM (GM) and Chrysler run low on money and head toward possible bankruptcies, it has been left to Congress to put…