Putting The Bailout On Hold
So far, Congress has not shown any inclination to buy into the Paulson-Bernanke proposal to give the Treasury a clean piece of legislation so that it can purchase up to $700 billion in toxic…
All Work
Douglas A. McIntyre
Unisys Looking For New Turnaround CEO (UIS)
Unisys Corp. (NYSE: UIS) is going to be back in the same boat it was in before its current management tried to turn this ship around. CEO Joe McGrath, who joined in 2005, is…
CenterPoint Outlines Its Own Hurricane Ike Costs (CNP)
CenterPoint Energy Inc. (NYSE: CNP) has come out this morning with a filing to show its expected costs for restoring power and from outages in the Houston-Galveston area as a result of Hurricane Ike. …
Early Bird Analyst Upgrades (NLY, ATML, DWA, NVS, PRM, SSCC, SNWL)
These are not all of the upgrades and positive analyst calls on Wall Street this morning, but these are the ones we are focusing on early this Tuesday morning: Annaly Capital (NLY) Raised to…
Early Bird Analyst Downgrades (CHS, FIG, GE, MPEL, MTB, SNY, SLGN, STM, STI)
These are not all of the downgrades or negative analyst calls affecting stocks this Tuesday, but these are some of the highlights we have seen with over 2 and a half hours to the…
Circuit City (CC) Falls Off The Earth As CEO Leaves
Circuit City (CC) sacked the CEO who ran the company for the past four years. Philip Schoonover held every important job at the retailer from chairman to CEO to president. He was ejected because…
Car Companies Want In On Rescue Plan (GM)(F)
The financial system is looking for a form of what theologians call "universal salvation". What began as a simple piece of legislation to get $700 billion into the banking industry by the government purchasing…
Now Anyone Can Own A Bank, A De Facto Win For Sovereign Interests (BAC)(C)(WB)(WFC)
T. Boone Pickens can get out of the alternative energy business. Under new regulations, he is allowed to buy Citigroup (C) or Bank of America (BAC). The Fed has decided that banks are so…
In A Moment Of Optimism Retailers Say Holiday Sales Will Be Bad (WMT)(SHLD)(CC)
Hope is a fine human emotion until it moves to lunacy. A psychosis of optimism has seized the retail industry. The National Retail Federation says that sales will rise only 2.2% this holiday season.…
Media Digest 9/23/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Wilbur Ross say the bailout package does not address the core of problem which is mortgage payments. Reuters writes that the National Retail Federation says that this will be the worst…
Oil Never Left Us, Crude To $150
The titanic global recession and anxiety about the government’s failure to quickly fix the credit crisis pushed the price of oil up higher than it has been for months. High gas prices and slow…
3Com Yields Another Rabbit (COMS)
3Com Corporation (NASDAQ: COMS) posted earnings of $0.11 non-GAAP EPS on revenue of $342.6 million. First Call estimates were $0.06 EPS on $337.12 million in revenue. While it had already raised guidance in early…
The 52-Week Low Club 9/22/2008 (RTI)(ANPI)(NTAP)
RTL Intl Metals (RTI) No news but drop in titanium demand due to Boeing (BA) strike could be culprit. Falls to $20.04 from 52-week high of $85.20. Angiotech Pharmaceuticals (ANPI) Cutting costs and having…
Alternative Energy Not Following Oil (FSLR, SPWR, STP, CSIQ, ESLR, CPST, FCEL, USU)
Oil is performing as though there were no sellers today. Recalling a single $20.00 move up in the price of oil in a single day is elusive, but a gain of $18.66 per barrel…
Can Office & Retail REITs Stave Off The Economy? (GGP, KRC, DDR, SLG)
Many REITs are in trouble. That is becoming the understatement of the year. The REITs doing better in today’s environment are the ones whose projects are already built and those that were fully leased. …
Caspian Crude Barely Flowing (BP, CVX, STO, E, TOT, COP, HES)
Oil is trading sharply higher this morning, partly because of oil pipeline and delivery disruptions. Platts reported that crude oil flows through the BTC pipeline have dropped from about 800,000 b/d to 250,000-280,000 b/d.…
Horse Trading Begins On Bailout, Odds Increase Bill Will Be Delayed
Henry Paulson’s bank bailout bill never had a chance of making it through Congress unencumbered. The only question was how may boat anchors the House and Senate would attach. The sinking of the proposal…
Coal In Apple’s (AAPL) Stocking For Christmas
Morgan Stanley (MS) said what everyone already knows. It cut earnings estimates for Apple (AAPL) and several other hardware stocks. This holiday season will be a bitter one, even for those children who have…
3Com Investors Brace For Earnings & Guidance (COMS)
3Com Corporation (NASDAQ: COMS) is one of the few tech stocks to report earnings after today’s close. The troubled maker of routing and communication equipment is expected to post $0.06 EPS on $337.12 million…
As Crude Jumps, A Little Rally In Oil Shares (XOM)(BP)
A good thing happens, but a bad thing happens. The current market works that way. All the arrows never point in the same direction. As word of the government’s bank bailout spread, crude oil…