Solar Powerhouses? (ENER, FSLR, SPWR, PCG, GM)
Energy Conversion Devices (NASDAQ:ENER) reported its fourth quarter and full year results this morning, and the stock is up more than 2% in early trading. It’s no wonder. EPS of $0.24 beat estimates of…
All Work
Douglas A. McIntyre
Media Digest 8/29/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Lehman (LEH) may fire 1,200 workers. Reuters reports that Dell (DELL) said its Asia business was fine but offered a cautious forecast. Reuters reports that Starbucks (SBUX) will offer more promotions…
Asia Markets 8/29/2008 (LFC)(CHU)
Markets in Asia were sharply higher. The Nikkei rose 2.4% to 13,073. Canon fell 5.2% to 5040. ANA fell .3% to 394. The Hang Seng moved up 1.7% to 21,331, China Life (LFC) rose…
Apple (AAPL): The iPhone Is Broken, Again
If there are any more bugs or flaws in the new Apple (AAPL) 3G iPhone, the company’s investors are going to start to notice. According to MSNBC, "A security flaw in Apple Inc.’s iPhone…
Dell (DELL): The PC (And Tech) World Fall Apart, A Share Buy-Back Fails
Dell (DELL) was the last of the big tech companies to report this summer. If it did well it meant that the PC and chip businesses would be OK. Dell sells so many computers…
The 52-Week Low Club 8/28/2008 (GENR)(NRGN)
Williams-Sonoma (WSM) Profit drops. Down to $16.26 from 52-week high of $34.81. Nexmed (NEXM) Drug trial failure still pulling shares down. Dips to $.19 from 52-week high of $1.75. Genaera (GENR) Several clinical trials…
Lehman (LEH) To Drop 6% Of Work Force, Not Enough
Lehman (LEH) will lay off about 6% of its work force according to The New York Times. That is about 1,500 people, but it is not nearly enough. Earlier in the day an analyst…
Lehman’s (LEH) Very Late Call On Fannie Mae (FNM)
After trading at $4.40 last Friday, Fannie Mae (FNM) moved up to $6.45 yesterday. The markets had come to realize that the mortgage company might be able to raise enough money in the capital…
Dell’s Stars Lined Up Into Earnings (DELL, HPQ)
Dell Inc. (NASDAQ: DELL) reports earnings after the close today and we’ll get to see if the solid numbers from rival Hewlett-Packard (NYSE: HPQ) are being seen at Dell during their turnaround as well. …
Another Meaningless Internet Number: MySpace (NWS) Overtakes Yahoo! (YHOO) In Ad Views
The online research business has become so crowded that the firms jockey for position by posting nearly meaningless numbers. ComScore took its turn at releasing inane figures saying that advertising views at MySpace (NWS)…
New Bank Write-Down From Auction-Rates (C)(WB)(MER)
The auction-rate fiasco is not over for banks. Having bought back about $55 billion of the paper, they are now faced with the reality that the bonds are only worth about $.80 on a…
Toyota (TM) Crashes, Again
Toyota (TM) has already cut its sales targets for its fiscal 2008 year. Now it is taking down its forecast for 2009. According to The Wall Street Journal, "Japan’s biggest car maker by sales…
When Will Starbucks CEO Howard Schultz Take $1 A Year?
When times were tough, Apple’s (AAPL) Steve Jobs and Chrysler’s Lee Iaccoca took salaries of $1. Starbucks (SBUX) has just announced that its management will forgo taking raises next year. Since Starbucks shares have…
Apple (AAPL) iTunes And The Sherman Antitrust Act
"Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal".–The Sherman Antitrust Act,…
Memo To The SEC: There Is Nothing Wrong With GAAP
The SEC is proposing that US companies give up the GAAP standard which they have used for financial reporting for decades. American public corporations would move to the International Financial Reporting Standards that are…
How Did Imbeciles Come To Run Fannie Mae (FNM)?
One of the first things students get taught in business school is that it is a bad idea to replace senior management in the midst of a crisis, especially if those people have been…
Media Digests 8/28/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Toyota (TM) cut its 2009 sales forecast by almost 7%. Reuters reports that Fannie Mae (FNM) changed several of its top executives. Reuters writes that Starbucks (SBUX) management will receive no…
Asia Markets 8/28/2008 (LFC)(PTR)
Markets in Asia were mixed. The Nikkei rose .1% to 12,678. Asahi Breweries rose 2.2% to 2010. UNY rose 4% to 1172. The Hang Seng fell 2.2% to 20,988. China Life (LFC) fell 1%…
The 52-Week Low Club 8/27/2008 (F)(NEXM)(CEGE)(AMLN)
Ford (F) Oil moves up. Drops to $4.25 from a 52-week high of $9.24. Nexmed (NEXM) Drug trial problems. Falls to $.23 from a 52-week high of $.1.87. Cell Genesys (CEGE) Drug trial problems.…
Apple (AAPL) iPhone Picks Up Ground On RIM (RIMM)
Apple’s (AAPL) iPhone is doing well in the consumer market, but it now appears to be picking up ground with businesses as well. According to the August ChangeWave survey of IT spending, 17% of…