GM (GM) Earnings: US And Emerging Markets Are Bad, Cash Gets Low
Trading in GM’s (GM) shares was halted just before earnings came out. They may want to keep trading on hold for a year or two and keep the stock from going to zero. The…
All Work
Douglas A. McIntyre
Goldman Sachs (GS) Goes Whole Hog On Jobless Forecast
From Goldman Sachs (GS) by way of MarketWatch: "The unemployment rate is expected to rise to 8.5% by the end of next year and inch even higher in early 2010, economists for Goldman Sachs…
Will BusinessWeek Cut Its Publishing Schedule To Twenty-Six Times A Year?
The rallying cry for magazine and newspaper executives is "Cut print costs, rely on the web." It makes all the sense in the world. Printing, paper, postage, and other transportation costs keep rising. Print…
Will BP Buy Chesapeake? (BP, CHK)
BP plc (NYSE:BP) shares are up about 2.5% pre-open today on rumors that the British petroleum giant is considering making an offer for Chesapeake Energy (NYSE:CHK). Chesapeake is the largest natural gas producer in…
The New Goldman Sachs Model: Quarterly Losses (GS, C, BRK-A)
Goldman Sachs Group (NYSE: GS) had been the one spot in the brokerage sector which was immune from the credit crunch and nearly immune from the mortgage mess. In fact, the company made a…
Frontier Oil, Refiner Earnings Lagging Peers (FTO, SUN, WNR, VLO)
Frontier Oil (NYSE:FTO) released its third quarter earnings yesterday, and the news was not good. EPS was $0.70, down from $1.28 a year ago, and below analysts’ estimates of $0.73. Revenues rose to $2.2…
Low Oil Toll: Conoco Delays Saudi Refinery (COP, TOT, CVX)
About two and a half years ago when crude oil prices were heading up at a pace never before seen, the Saudi Arabian oil minister claimed that there was plenty of oil, but not…
As Unemployment Hits 6.5%, Those Expecting 7% Now Bracing for 8%
If you were looking for great news on the jobs report this morning, you probably believed the guy telling that "NOT JOKE" in the Borat movie. Unemployment came in at a monstrous 6.5%…
Top Pre-Market Analyst Upgrades (ANF, BMY, CECO, EW, WYE)
These are some of the top analyst upgrades we have seen this Friday morning: Abercrombie & Fitch (ANF) Raised to Hold at Jefferies. Bristol-Myers Squibb (BMY) Started as Buy at Goldman Sachs. Career Education…
Top Pre-Market Analyst Downgrades (ACF, CLF, CVTX, PFE, SNY, THQI)
These are some of the top analyst downgrades we have seen this Friday morning: Americredit (ACF) Raised to Market Perform at FBR. Cliff’s Natural resources (CLF) Cut to Market Perform at FBR. CV Therapeutics…
Sprint (S) Earnings: Customers Go On Vacation, Won’t Return
Sprint (S) had another dismal quarter. Revenue fell 12% to $8.8 billion. Its net loss was $326 million compared with a $64 million profit. The company served 50.5 million customers at the end of…
Ford (F) Earnings: Still Cutting Costs, No Plans For Better Cars
Ford (F) had one piece of good news. It is still cutting costs. It is on track to cut annual expenses by $5 billion compared with 2005. For obvious reasons, the company’s earnings highlighted…
Motorola (MOT) Takes On Water From Samsung And Qualcomm
Motorola (MOT) is a first class example of what Ivy League business school professors do not want their students to know. It might frighten the horses. At some companies, there is no bottom. Every…
China: Worse Than Anyone Imagined
There have been some minority reports from pessimists like NYU economist Nouriel Roubini which say that China’s economy may be faltering as badly, if not worse, than America’s. No one believes that because it…
Auctioning Detroit In Pieces: $50 Billion For GM (GM)
GM (GM), Ford (F), and Chrysler managements are shuttling in and out of Washington trying to get both the people leaving and the people coming in to lend them $30 billion or $40 billion.…
Microsoft (MSFT): A Final “No” To Yahoo! (YHOO)
It may have occurred to Microsoft (MSFT) that Yahoo! (YHOO) is so badly wounded by its own poor management that a buyout of the portal company would be more trouble than it is worth.…
Airline Bankruptcies: A Great Tradition (DAL)(LCC)(CAL)(UAUA)
One of the recurring themes found in the history of the airline industry is the ability of carriers to go into Chapter 11 often emerging with little debt and fewer employees. Aloha Air, ATA,…
A Post-Election Shift Against Free Trade?
By John Tamny, Real Clear Markets In his Tract on Monetary Reform, John Maynard Keynes made the essential point that when money is debased, enterprise is discredited, and trade barriers soon reveal themselves. Having…
Media Digest 11/7/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, the government is set to announced the country’s tenth straight month of jobs losses. Reuters reports that Chrysler is burning through it cash quickly and the company may have to be…
Asia Markets And Europe Open 11/7/2008 (TM)(HBC)
Markets in Asia were mixed. The Nikkei fell 3.6% to 8,583. Shares in Toyota (TM) fell on a profit warning. The Hang Seng rose 3.3% to 14,238. HSBC (HBC) rose. The Shanghai Composite moved…