DJIA: 19 Days To Zero?
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…
All Work
Douglas A. McIntyre
Apocalypse Now: Do The Markets Have A Chance To Recover
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…
Can GE Earnings Rescue the Market? (GE)
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…
The 52-Week Low Club (NWS)(CBS)(YHOO)(GE)(JAVA)(SBUX)(PFE)(GM)
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…
Will Alcoa Lose Its Investment Grade Rating? (AA)
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. …
IPO Withdrawal: Value Financial Services, A Pawn Shop
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…
The Brunswick Boat Sinks (BC)
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…
Libery Media’s Malone Unloads Shares… To Liberty Media (LCAPA, LINTA, LMDIA)
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…
New “Wall Street Journal” Survey: Worst Recession In Over 50 Years
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…
JD Power: 2009 Car Market Could Be “An Outright Collapse”
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…
Using 2001 to 2003 DJIA Lows For Support
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…
What Chevron is Likely to Say Might Not Matter (CVX, XOM, COP)
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…
Artesian Resources, Winning Water Assets On Bad Week (ARTNA)
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…
Ethanol Wars: Xethanol Vs. Pacific & VeraSun (XNL, PEIX, VSE)
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 (GM)?
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…
This Month’s Retail Wall of Shame (ANF, CHS, GPS, PIR, SSI)
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…
The FDIC, and How Soon We Forget
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…
The Huntsman Merger Lives (HUN)
Huntsman Corp. (NYSE: HUN) is seeing explosive trading in its stock this morning before the open. It appears that the private equity merger which was called off, then ruled as an improper break-up, may…
ArcelorMittal Denying Trouble Seen In Its Stock Chart (MT)
ArcelorMittal (NYSE: MT) is trading higher in overseas trading this morning based upon its investor presentation today. The steel giant is reaffirming that its third quarter EBITDA will be in excess of $8.5 billion…
Can deCODE Genetics Escape Icelandic Woes? (DCGN)
If you think things are bad here in the U.S., Iceland is experiencing something far worse. The country is on the verge of teetering, it is nationalizing its banks, and it is on the…