Credit Problems Hit Europe Banks Harder Than US Counterparts
The bankers in Europe are bigger suckers than the bankers in the US. At least that is what the FT claims. It says "Of the $387bn in credit losses that global banks have reported…
All Work
Douglas A. McIntyre
Detroit Bloodbath Improves Productivity (GM)(TM)
Tautology has raised it ugly head in Detroit where car company executives insist that the more people they fire, the more productive they become. So they fire more people each month and repeat the…
Sovereign Funds Plan To Invade US Companies
Someone, or some entity, may have to sack the sovereign funds from the Middle East and Asia before they take over the Fortune 500. According to The Wall Street Journal "Despite their reputation as…
AIG (AIG): Betters Earnings Through Lying?
It is beginning to look like the Feds think AIG (AIG) may have misled investors when it valued some of the securities it held. Is it OK to cover-up earnings numbers? Perhaps AIG thought…
Shorts Sellers Look For Sharp Sell-Off In Financials (WM)(WFC)(WB)(FNM)(AIG)
Short sellers sharply increased their bets against big US banks based on data from the NYSE as of May 30. The number compare with those onMay 15. Short interest in Washington Mutual (WM) was…
Media Digest 6/6/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, a survey of sovereign wealth funds found concerns about their investment is overblown. Reuters reports that Verizon Wireless (VZ)(VOD) will buy Alltel for over $28 billion. Reuters reports that AIG (AIG)…
Asia Markets 6/6/2008 (SNE)(LFC)(SNP)
Markets in Asia were mostly higher The Nikkei rose 1% to 14,489. Sony (SNE) rose 1.1% to 5480. Yahoo Japan fell 1.5% to 44200. The Hang Seng rose .8% to 24,446. China Life (LFC)…
Vanguard Splitting Some ETF’s; A Smart Move (VTI, VWO, VXF, MER)
There has been an interesting development in ETF Land, and it may actually help Joe Q. Public in its ability to own shares in each of these ETF’s. Vanguard Group is going to split…
Will Lehman (LEH) Pre-Announce Earnings?
CNBC is reporting that Lehman (LEH) may pre-announce earnings. Fears about huge losses in the last quarter have taken the stock from over $37 five trading days ago to under $30 early yesterday. Shares…
No Benefit of Doubt for Focus Media (FMCN)
Focus Media Holding Ltd. (NASDAQ: FMCN) has just posted earnings. Despite beating estimates, Wall Street isn’t trusting its guidance issues "from the earthquake." Total GAAP revenues grew 214.7% year-over-year to $161.6 million. GAAP net…
Grand Theft Auto IV Leads Take-Two (TTWO)
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) has posted results well above estimates. It reported $539.8 million in net revenues, up more than 150% from last years $205.4 million due to the explosive Grand Theft…
The 52-Week Low Club (BRLC)(PFE)(NOK)(WBS)
Webster Financial (WBS) Bank needs to raise cash. Falls to $21.77 from 52-week high of $46.40. Pfizer (PFE) Concerns about product pipeline. Sells down to $18.45 from 52-week high of $27.33. Nokia (NOK) Drop…
Broadcom’s Great Sales & Options Techniques (BRCM)
If you read through the indictment charges reported around the web on Broadcom Corp.’s (NASDAQ: BRCM) co-founder and former CEO Henry Nicholas, it reads like something fit for tabloids. The thing is that it…
Level 3 (LVLT): Overbought Stock Of The Year, Or Will Company Be Bought?
It made some sense for Level 3 (LVLT) to be up yesterday. It was. It moved from $3.53 early on June 3 to $4.07 yesterday. LVLT did sell its publishing business for $129 million,…
Insiders at MBIA & Ambac Buy Shares (MBI, ABK)
We have seen numerous transactions today in different FORM 4 filings where executives at both MBIA Inc. (NYSE: MBI) and AMBAC Financial Group Inc. (NYSE: ABK) have gone out into the open market to…
FCC Chairman Martin On SIRIUS (SIRI) Merger
The artful dodger FCC chairman Kevin Martin hit the airwaves on CNBC today, When he was asked about the merger between Sirius (SIRI) and XM Satellite (XMSR) he said the the FCC has a…
More Cuts At Ford (F), Bill Ford Keeps Chairman’s Job
Ford (F) will be cutting 15% of its white collar expenses before August 15. According to Reuters, Ford said "We told employees today we are going to cut salaried work force-related expenses by 15…
Verizon Wireless (VZ)(VOD) Buys Alltel
The big wireless merger has gone through. Under the terms of the agreement, Verizon Wireless will acquire the equity of Alltel for approximately $5.9 billion. Based on Alltel’s projected net debt at closing of…
Syntax-Brillian CEO Out, For Now (BRLC)
Syntax-Brillian Corporation (NASDAQ:BRLC) is up to some more changes today. The company has appointed Greg Rayburn as Interim-CEO with an effective date of June 4, 2008. It says that Rayburn will replace James Ching…
IPO FILING: Britannia Bulk Holdings (DWT)
Britannia Bulk Holdings Inc. filed to come public via IPO last night, although the range has already been set for the British shipping company. It plans to sell 8,333,333 shares in a price range…