Nokia (NOK): The Cellphone Business Used To Be Great
Nokia (NOK) is a great company for two reasons. It has been run so well that it has nearly 40% of the global cellphone business even though it is headquartered in an obscure European…
All Work
Douglas A. McIntyre
The Problem With Cuomo Taking Back AIG (AIG) Bonuses
The notion that corporate executives are paid too much money is very old. Everyone protests the habit and says the system should make compensation more reasonable. But, big company CEOs still make tens of…
Patricide At GMAC (GM)
GMAC was set up decades ago so that GM car customers could get inexpensive loans to buy their new vehicles. It made so much sense that most other auto firms set up similar operations.…
Note From Switzerland: Hell Is Coming
The Swiss pride themselves in being calm, reserved people. Unlike the Spanish, English, Germans, and French, they have never given the world much trouble. The trouble, it appears, has been visited upon the Swiss,…
Media Digest 10/16/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Swiss banks are getting large amounts of capital to fight the global credit crisis. Reuters reports that AIG (AIG) is lobbying to loosen government oversight rules. Reuters reports that Bernanke said…
Asia Markets And Europe Open 10/16/2008: Japan Off 11%
Markets in Asia fell sharply. The Nikkei fell 11% to 8,658. The Hang Seng fell 7.6% to 14,786. The Shanghai Composite moved down by 3.8% to 1,919. In Europe, the FTSE opened down 2.5%…
Close Of Trading: As If The Bank Bailout Never Happened
It is as if the Paulson bank bailout and Monday’s 11% run up in the market never happened. The S&P closed today at 907.84, which is within three points of where it closed last…
eBay’s (EBAY) Worst Day, Earnings, Stock Down To $14
eBay (EBAY) was dead before it got started. The stock fell 13.6% during the regular session and came with a penny of its 52-week low at $15.01. Investors kept up their pessimism after hours,…
The 52-week Low Club (YHOO)(WY)(LLTC)
Jones Apparel (JNY) Profit warning. Drops to $9.26 from 52-week high of $23.08. Liz Claiborne (LIZ) Pulled down by JNY news. Falls to $9.75 from 52-week high of $31.93. Weyerhaeuser (WY) Tried to raise…
Is Sumner Redstone Losing Grip Over CBS & Viacom? (CBS, VIA-B)
Sumner Redstone is one of the CEO’s we voted as one of Wall Street’s most entrenched CEO’s in the past. It isn’t that he is so well respected or loved, but it is because…
eBay Earnings Preview: Analyst Downgrade Overshadows Future (EBAY)
eBay (NASDAQ: EBAY) is set to release earnings after the close today. It is still hard getting used to this without Meg Whitman conducting the conference call, but that is just the way of…
Sirius (SIRI) Says It Can Refinance Debt: Wall St. Disagrees
Sirius XM (SIRI) CEO Mel Karmazin say he can get his long-term debt refinanced. According to Reuters, "Sirius XM faces some $1.1 billion in debt in 2009. Of that, about $300 million comes due…
AMR Posts Gain On Items, But Fuel Issues Remain (AMR)
AMR Corporation (NYSE: AMR) has posted a net profit of $45 million for the third quarter, which generated earnings at $0.17 EPS. Be advised that this gain does include sale gains and other items. …
The “No Reward” Stock Market (INTC)(JPM)(WFC)
Good deeds should be their own rewards, but in the stock market that it not entirely true. Good earnings, especially in a harsh world, are supposed to yield shareholders something. In the perverse climate…
Linear Tech’s Stock Implosion (LLTC)
Linear Technology Corporation (NASDAQ: LLTC) may be causing more damage to chips and technology component stocks than anything else this morning. The maker of high-performance linear integrated circuits showed that revenue increased 1% to…
EnCana Yanking Its Spin-Off (ECA, COP)
Back in May, EnCana Corporation (NYSE:ECA) announced that it would split the company in two. One part would take the company’s oil sands properties and the other would retain the natural gas business. The…
Alpha Natural Resources, Looking Beta, Off The Cliffs in Cleveland (ANR, CLF)
Alpha Natural Resources (NYSE:ANR) has sold its majority interest in lime manufacturing plant in Kentucky and 17.6 million tons of coal that still needs to be mined. The after-tax gain from the sale of…
Charles Schwab Keeps It Real (SCHW)
The Charles Schwab Corporation (NASDAQ: SCHW) posted a 4% earnings drop down to $0.26 EPS, which is after a $0.04 item for previously disclosed charges. Revenues fell 3% from Q3-2007 down to $1.251 billion,…
Wells Fargo Living Up To “AAA” Ratings (WFC)
Wells Fargo & Company (NYSE: WFC) is following Jamie Dimon’s lead this morning with better results than other banks. The only "AAA" rated bank posted $0.49 EPS vs. $0.41 estimates. Revenues were $10.38 billion…
Coke (KO) Astounds
Even if people are feeling poor or are poor, they can still buy a soft drink. Coca-Cola (KO) proved that today with strong earnings. It is extremely good news for companies which sell extremely…