Jobs: All That Is Left To Save The Economy
Yesterday, a poll by CNN/Opinion Research Corp showed that six out of ten Americans believe that the US economy will sink into a depression. The people who conducted the survey made sure to define…
All Work
Douglas A. McIntyre
Media Digest 10/7/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Bank of America (BAC) reported weak earnings and cut its dividend. Reuters reports that Wells Fargo (WFC) and Citigroup (C) agreed to drop litigation for now and negotiate over a deal…
Asia Markets And Europe Open 10/7/2008 (TM)(HMC)
Markets in Asia were mixed and Europe opened higher. The Nikkei fell 3% to 10,156. Canon, a major exporter, fell. Honda (HMC) and Toyota (TM) were both down about 5%. Hong Kong was closed…
Dendreon’s Move Still Leaves Many Questions (DNDN)
Dendreon Corp. (NASDAQ: DNDN) was an incredible performer today, and one which makes you wonder how well it would have done had the stock market not been so ugly. Its interim data from Phase…
Calgon Carbon Heads Into S&P Small Cap 600 Index (CCC, MDRX)
S&P’s Index Group has announced that Calgon Carbon Corp. (NYSE: CCC) will replace Allscripts Healthcare Solutions Inc. (NASDAQ: MDRX) in the S&P Small Cap 600 after the close of trading on Friday.
B of A Earnings Outline Recession Impact on Credit (BAC)
Bank of America Corporation (NYSE: BAC) issued earnings early and simultaneously announced new capital raising and preservation initiatives. The banking giant said that quarterly net income was $1.18 billion, or $0.15 per share. The…
Emergency G8 Meeting Or Rate Cuts Coming?
Today’s massive market selling abated at the end of the day. This really depends on what you call "rumors" and what you call "hope", but the talk today in the afternoon is around coordinated…
American Express Outlines Lower Funding Needs (AXP)
American Express (NYSE: AXP), whose stock is trading at 5-year lows, today tried to reassure Wall Street about its financial situation. It said that this year it has increased its surplus capital above normal…
Ford (F): Running Out Of Cash, Could Its Shareholders Be Wiped Out?
Ford (F) may have cut costs to the point where the company cannot even operate properly anymore, the number of people in product development, management and marketing has gone so low. That still may…
Learning From Lehman’s Fuld: How To Answer Oversight Questions On Compensation (LEH, LEHMQ)
Richard Fuld, Chairman & CEO of what is left of Lehman Brothers Holdings (LEHMQ) is currently testifying before the House Oversight Committee. Fuld’s answers and demeanor today may offer some valuable lessons for future…
Citi’s Wachovia Suit & Stock Halt, Adding Mud To The Swamp (WB, C, WFC)
Wachovia Corp. (NYSE: WB) shares were halted for "NEWS PENDING" because of an announcement coming out of Citigroup (NYSE: C). The Citi and Wells Fargo (NYSE: WFC) war may be heating up above and…
As SAP (SAP) Warns On Earnings Enterprise Software Comes Under The Gun
If the segment of tech which markets to large businesses was supposed to be one of the last bastions of earnings safety, it has just fallen. SAP (SAP), the second largest enterprise software company…
Emerging Oil Giants Face Harder Times Than US Oil Giants (XOM, CVX, PBR, PTR, CEO)
It’s no secret that share prices for big oil are down over the past 12 months. These oil giants have fallen sharply from highs when oil was in the $140’s per barrel. Exxon Mobil…
Safest Stocks As The Market Goes To Hell (PG)(WMT)(CL)(MSFT)(MO)(XOM)
It appears that every stock in the market is being crushed, but that is not entirely so. Several companies in industries not likely to be badly by a deep recession are doing well, and…
Fear & Loathing: VIX Soars Above 50 As DJIA Takes Out 10,000
For those who have been wondering what a full blown bear market looks like, welcome to the jungle. This looks like another day where along with the bath water, they are throwing out the…
The 52-Week Low Club AM Edition 10/6/2008 (GE)(GOOG)(F)(AAPL)
As a sign of how difficult the markets are, a number of large companies hit 52-week lows, with a number of stocks down between 5% and 10% and bank shares off more Ford (F)…
Icahn Wins Blue Ribbon in ImClone Race (IMCL, LLY, BMY, MRK)
Carl Icahn appears to have won a blue ribbon for ImClone Systems (NASDAQ: IMCL) shareholders. The biotech stock is trading up on a very weak trading day after what many had deemed as a…
Netflix Starting to Mature (NFLX)
Trading in shares of Netflix Inc. (NASDAQ: NFLX) gave an interesting pre-market alert at Volume Spike this morning. The DVD rent-by-mail service is feeling pain early this morning after offering some very mixed guidance.
OSI Phase III Falls Short (OSIP, DNA)
OSI Pharmaceuticals Inc. (NASDAQ: OSIP) is getting hit hard in early trading this morning. The biotech has released data showing that a Phase III trial of Genentech’s (NYSE: DNA) Avastin combined with Tarceva in…
Biotech Implosion: CombinatoRx (CRXX)
CombinatoRx, Incorporated (NASDAQ: CRXX) is seeing its stock implode this morning. The company released data from its Phase IIb study of Synavive (CRx-102) for knee osteoarthritis showing that its Synavive test was not statistically…