Washington Mutual (WM) Shut down by feds. Drops to $.148 from 52-week high of $26.47. Smithfield Foods (SFD) Credit concerns. Sells down to $13.95 from 52-week high of $32.26. Sun (JAVA) Company shares continue…
Fortress Investment Group, LLC (NYSE: FIG) has filed a shelf registration to offer as much as $1 billion in mixed securities. It lists Class A shares, preferred shares, depository shares, warrants, subscription rights, purchase…
There was an announcement this morning from Lexington Insurance Company, a unit of American International Group (NYSE: AIG). The unit has said that effective September 15, 2008 it has arranged a Contingent Property Reinsurance…
The ups and downs of the government’s attempts to get a bailout package for financial institutions is leading the major players in the oil patch to remain really quiet. Given the yelping not so…
Joe Tucci, the CEO of EMC (EMC), has done his best to ruin his company and its spin-out VMWare (VMW). VMWare has the look and feel of a public firm but Tucci holds it…
There is one interesting irony in this whole financial meltdown which goes which many will not want to admit. Citigroup Inc. (NYSE:C) and the financial supermarket model may actually be emulated by the entire…
Apple’s (AAPL) stock got poleaxed by results from smartphone company Research-In-Motion (RIMM) which said its costs were going up and hinted that its growth might slow. Component and marketing expenses are damaging its earnings.…
KB Home (NYSE: KBH) is showing that the housing mess isn’t over. No one was expecting anything great, but the beatings are continuing. Revenue fell 56% to $681.6 million, and housing revenues were down…
There are actually very few analyst calls this morning and some of these may even be carry-over calls from late yesterday: Alpha Natural Resources (ANR) raised to buy at UBS. BJ Services (BJS) raised…
Morgan Stanley (MS) is starting to have some of the problems that hurt Lehman. According to the FT, "Morgan Stanley lost close to a third of assets in its prime brokerage last week, amounting…
Up until recently there has been a horse race for who is the largest seller of cars in China. GM (GM) and VW traded places from quarter to quarter. Unfortunately for GM (GM), its…
RIM (RIMM) Blackberry handheld e-mail devices really do not cost much. Purchased with a wireless subscription plan they may go for as little as $200. Corporations love the product because it keeps their over-burdened…
The Fed has been loaning banks and money managers an average of $188 billion a day over the last week. That is four times what the sum averaged a week earlier. Absent a bailout…
Washington Mutual (WM) failed yesterday and most of its assets where sold to JP Morgan (JPM). The price was $1.8 billion. JPM will have to write down $31 billion in bad loans, but, since…
According to Reuters, talks over a US bailout of banks broke down and will begin again today. Reuters reports that Washington Mutual (WM) became the largest bank failure in US history. Many of its…
Markets in Asia fell slightly. The Nikkei was off .9% to 11,893. CSK Holdings dropped more than 9%. Kyocera dropped over 2%. The Hang Seng fell .7% to 18,895. Ping An Insurance fell almost…
By John Tamny, RealClearMarkets Ned Ludd founded an eponymous movement in 19th century England meant to ban the mechanized looms that made the work of skilled textile artisans superfluous. According to the Luddites, the…
Cisco Systems Inc. (NASDAQ: CSCO) is doing something which we thought might not occur. In the full proxy materials for the annual shareholder meeting, the company has re-nominated Yahoo! Inc. (NASDAQ: YHOO) CEO Jerry…
Research In Motion Ltd. (NASDAQ: RIMM) posted disappointing results. The Blackberry maker reported earnings of $0.86 on $2.58 billion in revenue. First Call had estimates of $0.87 for earnings and $2.6 billion for revenue. …
Pilgrim’s Pride (PPC) Company says it has liquidity issues. Sometimes that means Chapter 11. The stock drops to $3.26 from 52-week high of $35.98. Teradata Corp (TDC) is facing competition from Oracle (ORCL). It…