Treasury Starts To Run Out Of Bailout Money
When the Congress approved the bailout fund requested by Mr. Paulson, it earmarked $700 billion for the program, but the first installment was half of that. Only $60 billion of the initial piece is…
All Work
Douglas A. McIntyre
China Can’t Outrun The Trouble
Six hundred billion dollars may be a lot of money, even by national bailout standards, but it won’t save China from a recession. Based on data release overnight, China reported the slowest export growth…
The Mortgage Salvation Plan Spreads (JPM)(C)(WFC)(BAC)
Ben Bernanke and Henry Paulson may be holding guns to the heads of major banks to get them to "reset" the mortgages of troubled homeowners, or the generous spirit of the holidays may have…
The End Of Dividends (BAC)(WFC)(NYT)(GCI)(CBS)(GE)
The big dividend was a hallmark of the big bull market. It was accompanied by a small yield. Even generous payouts were only a little fraction of the share prices at most companies. Their…
Media Digest 11/11/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, a weakening economy in China and poor US earnings are causing concern that the recession will be deep and long. Reuters writes that Vodafone (VOD) cuts its full-year revenue forecast. Reuters…
Asia Markets And Europe Open 11/11/2008
Markets in Asia were lower. The Nikkei fell 3% to 8,809. Canon fell on bad economic news from the US. The Hang Seng fell 4.8% to 14,042. HSBC (HBC) dropped almost 4%. The Shanghai…
Most Overpaid CEO Of The Day: Howard Schultz Of Starbucks (SBUX)
A week or so ago Howard Schultz, the CEO of Starbucks (SBUX), said he thought he was seeing a bottom in his company’s business. It must have been a mirage. Starbucks reported a quarter…
As Consumer Spending Worsens, Sears (SHLD) Moves In The Cross Hairs
Consumer sentiment and consumer spending may be bad today, but according to a major new survey, they are going to get much worse over the next three months. Among the largest victims of the…
Worst Corporate Press Release Of The Day: Comerica
For some reason the chief economist at Comerica still worries about how many weeks of pay it takes for the average American to buy a car. That is the same American who cannot afford…
SIRIUS XM Gives Confusing Report (SIRI)
SIRIUS XM Radio Inc. (NASDAQ: SIRI) has just reported its first real earnings report since its full merger completions. The satellite radio giant posted results which it only included in the conference call rather…
Starbucks, Cooling Coffee & Cooling Earnings (SBUX)
Starbucks Corp. (NASDAQ: SBUX) has just reported earnings of $0.01 EPS (after $0.09 restructuring costs) on $2.5 billion in revenues Thomson Reuters (First Call) had earnings consensus estimates at $0.13 EPS and $2.58 billion…
Harvard President Says It’s Time To Tighten Belt
Even the nation’s oldest and richest university cannot escape the economic downturn. In a note to to almost everyone affiliated with the institution, President Drew Gilpin Faust said the the value of the university’s…
The 52-Week Low Club (GM)(C)(GS)(EBAY)(NT)(CC)(NYT)(TSCM)
GM (GM) plunges on concerns about Chapter 11. Falls to $3.02 from 52-week high of $32.80. Citigroup (C) get caught in fears that big financials will have to raise more money. Sells down to…
Southwest Looks Far Out To Mexico (LUV, CAL, XJT, AMR)
Southwest Airlines Co. (NYSE: LUV) has announced its first efforts to go cross-border to our closest neighbor to the south. The discount airline carrier intends to build a codeshare partnership with Mexican carrier Volaris. …
Starbucks Braces For Earnings (SBUX)
Starbucks Corp. (NASDAQ: SBUX) is set to report earnings right after the close of trading today. Unfortunately, it isn’t expected to look that pretty. To make matters worse, the report has a look-back to…
When Does Sirius (SIRI) Follow Circuit City (CC) And GM (GM) To The Bottom?
Circuit City (CC) and GM (GM) have effectively proved a point about the current economy and credit markets. Without substantial positive cash flow and operating earnings, raising money is nearly impossible. Corporations which already…
Pacific Ethanol Follows the Fold (PEIX, VSE, AVR)
Pacific Ethanol (NASDAQ:PEIX) reported third quarter numbers this morning and any resemblance to VeraSun and Aventine (NYSE:AVR) is purely familial. Pacific had revenue of $184 million, compared with analysts’ estimates of $219 million, and…
24/7 Wall St. Day Trading Alerts (STEM)(DRYS)(ACAS)(FDRY)(BRCD)(CYCL)(T)
Good news out of the sector is driving StemCells (STEM) up almost 20%. Details here. DryShips (DRYS) is spiking up on news of the China stimulus package. American Capital (ACAS) suspended its dividend sending…
UPS & FedEx Losing DHL As Competition Via Layoffs (UPS, FDX)
DHL has announced that it was cutting 9,500 jobs as it discontinues air and ground operations within the United States. DHL Express says that it will continue to operate between the United States and…
Uranium Resources, Imploding Nuke (URRE)
Before the market opened this morning, Uranium Resources Inc. (NASDAQ:URRE) announced revenue of $4 million for the third quarter and a net loss of $14 million (-$0.25 EPS) due to lower sales and lower…