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 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…
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…
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…
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…
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…
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…
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…
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 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…
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 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…
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…
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…
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)…
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…
"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…
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…
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…
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…