Annual Inflation Heads Toward 10%
The annual inflation rate in the US will be above 10% by the end of the year. Almost all the signs are pointing that way. The AP writes "The Labor Department reported that wholesale…
All Work
Douglas A. McIntyre
Circuit City’s Turnaround Expert Still Under Schoonover, Big Mistake (CC)
Circuit City Stores, Inc. (NYSE: CC – News) has appointed director James A. Marcum as vice chairman of the company. In this new position, Marcum is expected to play a key role in leading…
Target’s Earnings Beat, Marred by Cards & Economy (TGT)
Target Corp. (NYSE: TGT) has just come out with earnings at $0.82 EPS on $15.47 Billion in revenues versus First Call estimates of $0.76 EPS and $15.46 Billion in revenues. The company’s retail segment…
24/7 Wall St. Most Overpaid CEO Of The Day: Amylin (AMLN) CEO Daniel M. Bradbury
Amylin (AMLN) CEO Dan Bradbury earned a base salary of almost $560,000 last year according to the company proxy. He will probably do as well in 2008. During the last twelve months, shares in…
Early-Bird Analyst Upgrades & Downgrades (DKS, IDXX, MA, WIT, ACS, ADP, CHT, FMCN, NT, PTI, TSS)
These are some of the upgrades and downgrades we are seeing from Wall Street this Tuesday morning: Dick’s Sporting Goods (DKS) Raised to Outperform at Baird. IDEXX Laboratories (IDXX) Started as Buy at Piper…
Another Strong Vote For Rising Oil Prices
The tug-of-war over oil prices has been going to the bears recently. Even with a storm near the Gulf of Mexico, crude moved down toward $112. Some experts are taking the long view and…
Home Depot (HD) Says Housing Will Hold The Line
Home Depot (HD) had a fairly poor quarter, but it was a bit better than expected. What was more important is that it held to its guidance for the rest of the year, a…
Car Quality Drives Out Of Detroit (GM)(F)(HMC)(TM)
The quality of American cars was supposed to be getting better. Perhaps that was an illusion. Part of the reason that investors thought GM (GM) and Ford (F) could come back was that their…
TDAmeritrade (AMTD), Oppenheimer (OPY), And Raymond James (RJF) Try To Dodge Auction-Rate Buy-Backs
Several of the modest-sized investment houses say they should not have to buy back auction-rate securities which they sold to their customers. The dog ate their homework.
Another Prediction A Large Bank Will Fail (LEH)(WB)(WM)
Nouriel Roubini, the NYU economist, has predicted the US is moving into its worst downturn since the Great Depression. He forecasts that hundreds of banks will fail. But, he is an "independent" on the…
Media Digest 8/19/2008 Reuters, WSJ, NYTImes, FT, Bloomberg
According to Reuters, Lehman (LEH) is considering selling it Neuberger Berman asset management unit. Reuters writes that bail-out concerns pushed down stocks in Fannie Mae (FNM) and Freddie Mac (FRE). Reuters reports that the…
Asia Markets 8/19/2008 (LFC)(CN)
Most markets in Asia were down. The Nikkei fell 2.3% to 12,865. Casio fell 3.7% to 1229. Bridgestone rose 2.1% to 1890. The Hang Seng fell .8% to 20,757. China Life (LFC) fell 1.3%…
The 52-week Low Club 8/18/2008 (FNM)(HAR)(TRX)
Fannie Mae (FNM) Barron’s says common shareholders may be wiped out by new capital. Drops to $6.08 from 52-week high of $70.57. Harman International (HAR) Earnings miss. Drops to $33.61 from 52-week high of…
Eil Lilly (LLY) Death Drug Needs More Regulation
If there wasn’t enough already wrong with the FDA drug approval process, diabetes drug Byetta, created for patients by Elli Lilly (LLY) and Amylin Pharmaceuticals (AMLN) is killing more people. The news follows an…
GM (GM) Gives The Store Away
GM (GM) will celebrate its 100th birthday by offering incentives and losing more money on each vehicle. According to Reuters, "GM had scheduled briefings for U.S. dealers, representing all of its brands from the…
24/7 Wall St. Day-Trading Alerts (HD)(LOW)(TTWO)(ERTS)(FNM)(FRE)
VSInvestor reports on several stocks moving on heavy volume today. At the top of the list are Freddie Mac (FRE) and Fannie Mae (FNM) dropping on comments from Barron’s that the common shareholders in…
Australian Miner Raises the Bar (BHP, RTP)
The largest mining company in the world, BHP Billiton (NYSE:BHP) today reported revenues of $59.47 billion and EPS of $2.75 for its full 2008 fiscal year ended June 30th. Analysts were expecting revenues of…
24/7 Wall St. Most Overpaid CEO Of The Day: Gatehouse (GHS) CEO Michael Reed
Newspaper stocks are way off as the industry struggles with falling circulation and advertising revenue. But one company, Gatehouse (GHS), stands out as being much worse off that the rest. Today, research firm Morningstar…
Energy Watch Part III: Big Oil Well Off Highs (XOM, COP, RDS.A, CVX, BP, MRO, PCZ, APA)
Even with oil prices well off of recent highs, these are still very much considered as above historical highs. The large integrated oil companies have experienced either declines or very small gains in value…
China SPAC Goes Operational: Alyst Acquisition Corp. (AYA)
There was a release this morning showing that a Special Purpose Acquisition Company (SPAC, or blank check company) called Alyst Acquisition Corp. (AMEX: AYA) has signed an agreement to acquire all of the shares…