NCC (NCC) Triples In Two Days
In a sign of how perverse and debased the market’s reactions to simple news has become, NCC (NCC), the large regional bank, dropped from over $4 last Friday to $1.36 on Monday. Today, the…
All Work
Douglas A. McIntyre
Mosaic Proves Potash & Fertilizer Are Back To Poop (MOS, POT, IPI)
Mosaic Co. (NYSE: MOS) is being slaughtered this morning. Any hopes that agriculture was going to be cool again are gone. The phosphate and potash producer’s earnings missed the bar by what might as…
GE’s Massive Offering (GE)
General Electric Co. (NYSE: GE) has priced its massive secondary offering this morning of 547.8 million shares at a substantial discount of $22.25 per share. It has also given underwriters an overallotment option to…
Suspending Mark-to-Market Won’t Suspend Reality
By John Tamny, RealClearMarkets The University of Texas is famous for having the second largest university endowment in the country, behind that of Harvard. Less known is that UT’s second-place ranking is an accounting…
Atmel Merger Odd, But Proves Mergers Still Possible (ATML, MCHP, ONNN)
Atmel Corporation (NASDAQ: ATML) is going to be trading up big this morning. Shares are currently halted on the news that Microchip Technology Incorporated (NASDAQ: MCHP) and ON Semiconductor Corporation (NASDAQ: ONNN) have sent…
Jobless Data Reminiscent of Bread Lines
Maybe the Hurricane damage has something to do with this, but the weekly jobless claims are reaching a critical point. This last week’s initial jobless claims rose again to 497,000. The Labor Department put…
Solar Ambitions Keep Growing (ENER, STP, CSIQ)
If one sector always keeps having new projects and new expansions, it is solar and alternative energy. There were several announcements this morning from some key solar players such as Energy Conversion Devices (NASDAQ:…
Top Pre-Market Analyst Upgrades (AMGN, CPLP, DRIV, DSX, DNA, GNK, MAKO)
These are some of the top upgrades we are seeing from Wall Street analysts this morning: Amgen (AMGN) Raised to Outperform at William Blair. Capital Product Partners (CPLP) Started as Outperform at Oppenheimer. Digital…
Top Pre-Market Analyst Downgrades (AKAM, CVLT, JNPR, LVS, MUR, N, PDX)
These are some of the early analyst downgrades we have seen this Thursday morning: Akamai Tech (AKAM) Cut to Sell at Goldman Sachs. CommVault Systems (CVLT) Cut to Neutral at Goldman Sachs. Juniper Networks…
Nokia (NOK) Goes After Apple (AAPL): A Gun To A Knife Fight
Nokia (NOK) has been very slow moving into the market for high-end smartphones, especially in the US. There are plenty of Apple (AAPL) iPhones and RIM (RIMM) Blackberries on the shelves. Samsung has even…
Wal-Mart (WMT): Coal In The Retail Industry’s Stocking
"Everyday low prices" are getting out of hand. Wal-Mart (WMT) already is cutting what it charges for toys and the holiday season has really not begun. According to The Wall Street Journal, the world’s…
Why Does GE (GE) Need All That Money? The New Junk Bond Economy
GE (GE) is raising $15 billion, some of it from Warren Buffett at usurious rates. In many states his actions would have been illegal. Why does GE need the money? No so long ago…
Where Is The Fed When It is Needed?
It is time for Ben Bernanke to descend from Mount Olympus and join the Croesus of the administration, Henry Paulson, in the the trenches, or the tranches, depending on your perspective. Late word is…
Media Digest 10/2/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, the economic bailout bill passed the Senate and is likely to pass the House. Reuters reports that GE (GE) raised $15 billion with some of the capital coming from Warren Buffett.…
Asia Markets 10/2/2008 (TM)(HMC)(SNE)
Markets in Asia were mostly lower with Shanghai closed for the holiday. The Nikkei was down .8% to 11,273. Toyota (TM) fell on poor US sales. Honda (HMC) was down as much as 4%.…
EA Learns Lesson of Hot Development Turned Failure (ERTS)
Electronic Arts Inc. (NASDAQ: ERTS) shares poor performance stood out even on a down day. It has worked on a game since late 2006 or early 2007 called Tiberium. This first-person shooter was in…
Encore Files Large Shelf Registration (ENP, EAC)
Encore Energy Partners LP (NYSE: ENP) has filed a shelf registration to sell up to $1,000,000,000.00 in securities for its units. It will sell common units representing limited partner interests in Encore Energy Partners…
52-Week High Bear Market Surprises (JPM, CPB, CBSH, FFH, THS)
The 52-week lows are full and full of stocks each day lately. In a bear market it gets harder and harder to find stocks which are on their 52-week highs. The non-perishable food companies…
Micron Earnings Show A Turnaround That Can’t Turn (MU)
Micron Technology, Inc., (NYSE:MU) showed a fourth quarter net loss of $344 million, or $0.45 EPS, on net sales of $1.45 billion. These results include a non-cash charge to cost of goods sold of…
The 52-Week Low Club 10/1/1008 (GNTX)(SLM)(ATU)(XTXI)
Crosstex Energy (XTXI) Downgraded by Goldman. Drops to $19.92 from 52-week high of $40.39. Gentex Corportion (GNTX) Cuts revenue outlook, downgraded by Baird. Drops to $12.36 from 52-week high of $22.60. SLM (SLM) Student…