According to Reuters, the US is looking at guaranteeing billions of dollars of bank debt and temporarily insuring all bank deposits. Reuters reports that Citigroup (C) has ended talks about taking over Wachovia (WB),…
Asia markets were very sharply lower. The Nikkei was off 9.6% to 8,276. The Hang Seng was down 7.3% to 14,694. The Shanghai Composite dropped 3.5% to 2,001. The German DAX fell 10%. The…
Saks Inc. (NYSE: SKS) may have gotten a better endorsement than if Warren Buffett or Bill Gates bought into the retailer. Mexican billionaire and the second richest man in the world Carlos Sliim has…
Today’s drop of 678.91 points to the close of 8,579.19 on the DJIA is actually a drop of 1,746.19 points since Friday’s close. That represents nearly a 17% drop over four days and it…
There were several pieces of bad news today, but three stand out. This news may have been the primary cause of the market sell-off which took the Dow down 679 points, or 7.3%, to…
We are set for earnings out of General Electric Co. (NYSE: GE) early Friday morning. If you have been watching the tape and if you have been paying attention to the economic data, it…
GM (GM) Concerns that global car sales will fall again in 2009 and company will get short on money. Down to $5.22 from 52-week high of $43.20. News Corp (NWS) Weak ad market hits…
Standard & Poor’s Ratings Services has already put GM’s credit ratings on watch today, and the ratings agency is also putting the credit rating of Alcoa, Inc. on "Negative Outlook" from a "Stable" rating. …
A firm called Value Financial Services, inc. has just pulled its pending initial public offering today. The reasons should be evident enough as to why, but it said it is requesting withdrawal for various…
Brunswick Corporation (NYSE: BC) is being hit hard after the company announced that it will accelerate its previously announced efforts to re-size the company and to remove $300 million in fixed costs by the…
Chairman John Malone of Liberty Media Corp. (NASDAQ: LCAPA) sold 4.5 million shares of common stock on October 7, 2008 at a price of $11.00 per share. He still holds more than 2.7 million…
The people at The Wall Street Journal have been working overtime to depress their readers. In the latest Wall Street Journal forecasting survey, "On average, the 52 economists surveyed now expect gross domestic product…
The news from the automobile industry did not improve today. Research firm JD Power warned that 2009 could be a more troubled year for sales that 2009 was. “While the global automotive industry is…
As the DJIA is now closer to breaking down under the mental 9,000 barrier, we wanted to run some old support levels to illustrate where the market used support in the past. We compiled…
After the market closes today Chevron (NYSE:CVX) is releasing its interim update for the third quarter of 2008. Typically these updates paint a pretty accurate picture of what investors can expect from the coming…
Cecil County, Maryland, has approved the transfer of its water distribution and wastewater assets to Artesian Resources (NASDAQ:ARTNA) this week. This is just the latest in a string of conversions from publicly-supported water systems…
After the market closed yesterday, Xethanol Corporation (AMEX:XNL) announced that a Federal Court had approved the settlement Xethanol had reached in a class action suit alleging that the company had misled investors. The settlement…
Are short sellers hitting GM? The stock has been off as much as 20% today and has traded as down to $5.41. The shares have not been that low since 1951. The auto company…
It is no secret that the consumer is in the tank and that retail sales are coming in poorly. It would have been a fool’s gold trade to believe you were going to see…
By John Tamny, RealClearMarkets Chairman Henry Gonzalez (D-Texas) and his committee are taking us back to 1980, when former Chairman Fernand St. Germain boosted deposit insurance to $100,000 an account (from $40,000) in the…