Investors Walk Out On Emerging Market Markets
Global investors have become gun shy about owning bonds and equities in firms based in emerging markets. What was once considered a part of the world’s markets where a strong return was nearly a…
All Work
Douglas A. McIntyre
World’s Second Richest Man Buys Into New York Times (NYT)
The second richest man in the world has acquired a stake in The New York Times Co. (NYT), but there’s a good chance you’ve never heard of him. Carlos Slim, the Mexican telecom mogul…
Sharp Increase In Short Bets On Big Financial Firms
Short interest in a number of financial stocks moved up very sharply for the period ending August 29. Shares short in Washington Mutual (WM) rose 12% to 383 million. Short interest in Fannie Mae…
Media Digest 9/11/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Washington Mutual (WM) fell 30% to a 17-year low. Reuters reports that billionaire Carlos Slim has bought 6% of The New York Times (NYT). Reuters writes that Northrop Grumman (NOC) may…
Asia Markets 9/11/2008 (CHL)(LFC)
Asia markets fell sharply The Nikkei was off 2% to 12,103. Mitsubishi UFJ Financial fell sharply as did Canon. The Hang Seng fell 3.5% to 19,304. China Mobile (CHL) was off nearly 6%. China…
The 52-Week Low Club 9/10/2008 (WM)(LEH)(O)(SIRI)
Washington Mutual (WM) Latest victim of credit debacle. Falls to $2.30 from 52-week high of $39.25. Lehman (LEH) Restructuring plan has few friends. Down to $6.93 from 52-week high of $67.73. Owens-Illinois (OI) Closed…
R-I-M’s Flipping Design (RIMM)
Research-in-Motion (NASDAQ: RIMM) is trading up today on the hopes for the new expanded BlackBerry flip-phone which allows for slightly more screen space and typing space. The BlackBerry Pearl Flip 8220 smartphone will be…
The Grim Reaper Comes For Washington Mutual (WM)
Over the last year, shares in Washington Mutual (WM) are down more than Lehman (LEH). It is distinction that defiles the managements and boards of both companies. Washington Mutual’s days as an independent firm…
Oilfield Services Stocks Still Headed South? (FWLT, NOV, SLB, WFT, BHI)
Less than a month ago, we published a story on oilfield services companies and how their stocks had fallen along with the price of crude. Their stocks should be doing better considering the services…
For Sirius (SIRI) A Trip To Penny Stock City
All sorts of bad things happen when a stock trades under $1. Some institutions can’t hold the shares. If the stock stays below the threshold too long, the Nasdaq can start delisting procedures. Sirius…
Day Trader Alert: Shanda Interactive Entertainment Ltd. (SNDA)
Shanda Interactive Entertainment Ltd. (NASDAQ: SNDA) is seeing an exponential volume surge at the open. The Chinese interactive gaming software company has now seen more than 3.4 million shares trade hands and shares are…
Day Trader Alert: ImClone Systems (IMCL, BMY)
ImClone Systems Inc. (NASDAQ: IMCL) is a biotech buyout bonanza stock that traders and investors have been watching closely. The company has said that the proposed $60.00 per share cash buyout from Bristol-Myers Squibb…
Citigroup Outlines Fannie/Freddie Exposure (C, FNM, FRE)
Citigroup Inc. (NYSE: C) has just filed with the SEC information about its perceived total exposure to Fannie Mae and Freddie Mac securities in an effort to fend off any over-exposure concerns. As of…
Lehman (LEH) Impresses No One
The press release was a mile long. Lehman "intends" to sell 55% of its money management unit. Lehman "intends" to spin off to its shareholders $25 billion to $30 billion of its commercial real…
Lehman Earnings, Rewards For Bad Behavior (LEH)
Lehman Brothers (NYSE: LEH) has finally pre-announced its earnings at -$5.92 EPS. First Call had estimates at worse -$3.00 but no one is using that estimate based upon the recent mudslide and rumors. The…
Top Pre-Market Analyst Upgrades (BNI, CERN, DECK, EV, HWAY, IPAR, NSC, RF)
There were other upgrades but these are the ones we are seeing having an impact on shares this morning: Burlington Northern (BNI) Raised to Buy at UBS. Cerner (CERN) Started as Outperform at Morgan…
Top Pre-Market Analyst Downgrades (CPHD, DRIV, FDRY, MAN, MLM, MPEL, MPS, SMOD, VMC)
These are some of the top analyst downgrades we are seeing affecting shares of stock this morning: Cepheid (CPHD) Cut to Neutral at Piper Jaffray. Digital River (DRIV) Cut to Market Weight at Thomas…
Financial Downgrades (BAC, BBT, CLMS, CMA, FITB, BEN, STI, VLY)
There were more downgrades in financial stocks, but these were the larger names that saw estimates or ratings cut by analysts this morning: Bank of America (BAC) Cut to Underperform at KBW. BB&T (BBT)…
As Chinese Slow Car Buying, Detroit Can Panic (GM)(F)(WMT)(DELL)
Since almost no one in the US or Europe is buying cars, auto companies have been looking to China for salvation. That does not put them in a different class from other large companies…
The US Economy: Sunny Days Ahead
"You are my sunshine, my only sunshine; you make me happy when skies are gray" Alan Greenspan went on CNBC late yesterday to flog the paperback version of his ancient book "The Age of…