According to Reuters, debt of Washington Mutual (WM) was cut to junk on a forecast of a $4.5 billion loss reserve. Reuters says that concerns about Lehman (LEH) spread to Merrill Lynch (MER). Reuters…
Markets in Asia were modestly higher. The Nikkei rose .9% to 12,215. ANA rose 1.9% to 377. The Hang Seng rose .3% to 19,439. BOC Hong Kong dropped on a Goldman downgrade. PetroChina (PTR)…
Lehman (LEH) Dead or alive. Off to $3.79 from 52-week high of $67.73. Washington Mutual (WM) Will the bank make it? Plunges to $1.75 from 52-week high of $39.25. Merrill Lynch (MER) dragged down…
With the trends seen lately in communications equipment and data providers because of telecom spending dropping, it is no huge surprise that the short selling has been increasing in some of the stocks in…
Many traders and short sellers have loved targeting solar power and other alternative energy stocks. What is interesting is that the bets against these companies did not show a larger increase since many of…
There was a very mixed bag in short selling in the semiconductor sector. What was interesting was the huge increase in the bets against NVIDIA because it was so far after the drop. Most…
Unfortunately there is no real clear trend in the Internet sector stocks in the short selling from mid-August to late August as you will see below. Internet …
The market’s disdain for Big Band Networks (BBND) is long-standing and deep. The company went public nearly two years ago. Since then the maker of technology to improve the flow of data over the…
Bristol-Myers Squibb (NYSE: BMY) has sent a letter to Imclone Systems (NASDAQ: IMCL) in response to yesterday’s rejection of its buyout offer. It said it is disappointed that the $60.00 bid was passed up…
In the next day or two, the financial markets could hit their tipping point. It is certainly not beyond the realm of the possible that Lehman (LEH) and Washington Mutual (WM) could fail. Merrill…
CSX Corp. (NYSE: CSX) is trading higher after the railroad operator increased its 2008 and long-term financial guidance. It sees Fiscal-2008 earnings of $3.65 to $3.75 per share, which is above its prior $3.40…
Today may well be the day that Lehman (LEH) fails. No one should be surprised if the company goes into Chapter 11 today or if the government steps in to sell off pieces and…
Shares of Lululemon Athletica (NASDAQ: LULU) are being hit this morning on what seemed to be good earnings data on the surface. But when you dig down it seems that the growth is slowing…
These are some of the early bird analyst upgrades and positive calls we are seeing this Thursday morning with more than two hours to the open: Auxilium Pharma (AUXL) Started as Outperform at Oppenheimer.…
These are some of the early bird analyst downgrades and negative calls we are seeing this Thursday morning with more than two hours to the open: AudioCodes (AUDC) cut to neutral at Merrill Lynch.…
With Bear Stearns, Fannie Mae (FNM), and Freddie Mac (FNM) fundamentally gone as independent institutions, the Treasury and Fed have turned their attention to Lehman (LEH) and Washington Mutual (WM). Nothing to that effect…
Saudi Arabia walked out on OPEC yesterday. It said it would not honor the cartel’s production cut. It was tired of rants from Hugo Chavez of Venezuela and the well-dressed oil minister from Iran.…
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…
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…
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…