Goldman Sachs Kicking Steel While It’s Down (AKS, STLD, TX, CMC)
It is a bit surprising when you see a firm like Goldman Sachs downgrade many key steel stocks after their shares have fallen by so much. That is what we are seeing this morning. …
All Work
Douglas A. McIntyre
Gap (GPS) Gets Killed, Same-store Down 11%
In what will probably be viewed as bad news by most people, Gap’s (GPS) same-store sales dropped 11% last month. And the chain sells dirt-cheap clothes. Net sales dropped 6% to $1.34 billion. So…
Long Live the Short Sale
The ban on short sales in financials and companies tied to financials has ended. Beginning this morning, investors will be able to bet against these companies. While the experiment was meant to curb the…
IBM’s Earnings: No Bellwether For Tech (ORCL)(MSFT)(CSCO)(INTC)
It would not be a good idea to look at IBM’s (IBM) superior earnings and assume that tech will have had a good third quarter and that the rest of the year looks super.…
Citigroup (C) And Wells Fargo (WFC) Find A Cowpie On Wachovia’s (WB) Books
The most wonderful thing about the current financial crisis is that it is a monument to human optimism. Every day executives and government officials signal that things may be getting better. Everyday they get…
AIG (AIG): The Buffoons Take Over The Nut House
It did not take long for the bailout of AIG (AIG) to dissolve into chaos. Just two weeks after the Fed put $85 billion into the failing insurance company, the new management asked for…
Paulson’s New Bailout Plan: The Trouble With Owning Bank Shares
Henry Paulson watched the Brits come up with a new plan to save the banking system before he did. He is probably embarrassed by that. He and Bernanke seemed to have a big lead…
Media Digest 10/9/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, the US Treasury may buy interests in large banks following the model set up by the UK. Reuters reports that IBM’s (IBM) earnings strength helped calm tech investors. Reuters reports that…
Asia Markets 10/9/2008 (PTR)(SNE)
Markets in Asia were mixed. The Nikkei fell .5% to 9,157. Sony (SNE) and Canon were both up over 4%. The Hang Seng rose 2% to 15,741. China Overseas Land Investment was up over…
The 52-Week Low Club (YHOO)(MSFT)(SIRI)(XL)(CHTR)(LVLT)(ORCL)(CSCO)(F)(DELL)
Yahoo! (YHOO) Concerns about slowdown in internet advertising. Drops to $13.20 from 52-week high of $34.08. Bet they wish they had taken Microsoft (MSFT) deal. Sirius (SIRI) Merger a failure.Sells off to $.45 from…
Sirius (SIRI): Down To $.45, Off Nearly 90%
The dirge is just about over for Sirius XM (SIRI). The stock has marched down so far that the market is saying there is little prospect for recovery. The company is plagued by a…
Ken Heebner Calls Global Recession (MOS)
Ken Heebner just came on CNBC today, and while it did sound a bit like he was licking his wounds, he made some key comments that influence investors. First and foremost, he said "WE…
Tracking Dividends: Kinder Morgan Energy Partners, L.P. (KMP)
Kinder Morgan Energy Partners LP (NYSE: KMP) expects to increase its third quarter cash distribution to its limited partners to $1.02/common unit. That’s 16% more than the cash distribution of $0.88/unit for the third…
Earnings Heading Up For Refiners? (MRO, CVX, VLO)
Marathon Oil (NYSE:MRO) today gave an interim update on its third quarter performance. The company will announce earnings on October 30th. Production is expected to be up by about 34,000 barrels of oil equivalent/day…
Ten Things To Do To Save Yourself In a Market Meltdown (AAPL)(GOOG)(SIRI)(MCD)(INTC)
Jim Cramer wants people to sell all of their stocks. Even though the market may keep falling, that might not be a practical solution for everyone. There are several things investors can do to…
Quest For Instant Price Discovery: Opening The DJIA At 5,000
We have just seen two horrific trading days in a row for stocks as the market put in multi-year lows. This is on top of four quarters of selling. We all know what the…
Snoopy Loses His Nose (MET)
MetLife Inc. (NYSE: MET) is joining the other major financial stocks of late with its shares getting clocked this morning to new multi-year lows. Last night, the insurer said earnings would be $0.83 to…
B of A: When Your Stock Breaks Under Offering Price (BAC, JPM, MER)
Bank of America Corp. (NYSE: BAC) is being taken to the cleaners this morning. Shares closed down sharply yesterday at $23.77 after closing at $32.22 just the day before. Bank of America raised right…
Symantec, Help From Within & From Outside (SYMC)
Symantec Corporation (NASDAQ: SYMC) is catching a bid this morning, although it is still at the lower-end of its 52-week trading range following an upgrade and an acquisition.
Despite Economy, Costco Manages Impressive Sales Gains (COST)
Costco Wholesale Corp. (NASDAQ: COST) is trading down over 1% pre-market, yet the upper-end big box retailer posted some very strong numbers. The company reported earnings of $0.97 per share before $0.07 worth of…