OPEC Taps The Brakes
The Las Vegas odds were 10-to-1 that OPEC would keep production level. A lot of gamblers lost money. The cartel cut daily production by 520,000 barrels a day to 28.8 million. While oil prices…
All Work
Douglas A. McIntyre
China Gets Normal
China was supposed to be falling apart. Inflation was more than 10%. Labor costs were rising rapidly. The central government jacked up gas and diesel prices. The apocalypse was just around the corner. What…
Media Digest 9/11/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Lehman (LEH) will release earnings a week early after its stock dropped 45%. Reuters reports that OPEC agreed to a surprise production cut. Reuters reports that CFOs are more optimistic about…
Asia Markets 9/11/2008
Markets in Asia were mostly lower The Nikkei fell .4% to 12,346. Canon dropped on concerns about the dollar. Mitsubishi UFJ Financial moved up ahead of Lehman’s earnings. The Hang Seng fell 1% to…
Lehman (LEH): Getting Ready For Good News
Lehman (LEH) will release its results tomorrow morning, a week ahead of schedule. Since the broker’s stock was down 45% today and and almost 90% from its 52-week high, it would be easy to…
Texas Instruments: “What Slowdown?” (TXN)
It appears that not everything is as bad in mobile and communications chipsets as everyone had thought. At least that is what the guidance from Texas Instruments Inc. (NYSE: TXN) is showing. The company…
FedEx Finally Likes Fuel Prices As Economy Weakens (FDX, UPS)
It looks like lower fuel prices are turning into net gains for transportation companies. Finally! FedEx Corporation (NYSE: FDX) has announced that it now expects to post earnings of $1.23 per share for the…
IPO FILING: China Time Share Media (CTSM)
China Time Share Media Co. Ltd has filed to raise up to $75 million in an initial public offering. The Chinese advertising service provider has applied to take "CTSM" as its NASDAQ stock ticker. …
The 52-Week Low Club 9/10/2008 (LEH)(ASK)(WFR)(ESLR)(FWLT)
Lehman (LEH) — Is it still solvent? Drops to $7.64 from 52-week high of $67.73. AK Steel Holding (AKS) Large stockholder sells part of holdings. Sells down to $33.05 from 52-week high of $73.07.…
T. Boone Pickens Expects High Oil To Stay (CLNE)
CNBC’s Maria Bartoromo interviewed oil magnate and billionaire T. Boone Pickens late this afternoon. Pickens noted that there is likely to be a demand increase if oil goes under $100, bue he doesn’t expect…
News From Oz: Oil Under $100
Before thinking oil is cheap again, don’t get too excited. In electronic trading there was a print showing Brent Sea Crude back under $100.00 per barrel. While it was for a full barrel rather…
3M Wants To Expand Alternative Energy & Water Efforts (MMM)
There were some interesting comments out of 3M Co. (NYSE: MMM) where CEO George Buckley was speaking to institutional investors and investment analysts about the company’s core business operations. One area that may represent…
SIRIUS Guidance Fails To Score (SIRI)
SIRIUS XM Radio (NASDAQ: SIRI) updated its earnings guidance now that the company has started its merger integration. There is news in here for the bulls and bears alike. The company is raising expectations…
Lehman (LEH) Shareholders Panic
Lehman (LEH) is trading like United (UAUA) did yesterday. Panic has set in and the stock is off 30% to $10. The shares moved as low as $8. Rumors in the market range from…
Upping Natural Gas Output Just In Time For Lower Prices (NFX, APA, APC, CHK, DVN)
Exploration and production companies have been loading up on natural gas assets in the US for the past several years, and now it looks like that might not have been the best thing they…
Cardica Adding U.S. to E.U. & Japan Sales (CRDC)
A usually quiet Cardica, Inc. (NASDAQ: CRDC) is seeing a huge move in its stock today on strong upside volume. The company has won FDA marketing approval to sell its PAS-Port Proximal Anastomosis System…
Signature Bank Defies Trends of Peers (SBNY)
Signature Bank (NASDAQ: SBNY) shares are doing something unusual, rallying on a secondary offering. On September 2, Signature announced that it was selling 3.5 million shares and would give underwriters a 525,000 over-allotment option. …
24/7 Wall St. Most Overpaid CEO Of The Day: TW Telecom (TWTC) CEO Larissa Herda
TW Telecom (TWTC) lowered its guidance yesterday. Its shares were promptly downgraded by Citigroup and Merriman Curhan Ford. All of that caused TWTC shares to drop 14% to a 52-week low of $11.57, down…
Day Trader Alert: UAL Corporation (UAUA)
UAL Corporation (NASDAQ: UAUA) is seeing a major volume surge right before the open. We are seeing already some 300,000 shares trade hands with a gain of 7% to $11.76. This is a twofold…
TW Telecom Feels The Disconnect (TWTC)
TW Telecom Inc. (NASDAQ: TWTC), the former Time Warner Telecom, is having a rough morning. Last night the company submitted an SEC filing showing that it was going to warn of slower revenue trends…