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…
All Work
Douglas A. McIntyre
Continental Joins Capacity Cuts & Job Cuts (CAL, UAUA)
Continental Airlines Inc. (NYSE: CAL) announced that it plans to cut 3,000 jobs and that CEO and President will lower their salaries for the remainder of the year. As far as addressing capacity, Continental…
Top 10 Pre-Market Analyst Calls (ADBE, ATI, CAT, HOTT, MOT, NWAC, UAUA, URI, VRSN, VMED)
These are ten of the analyst calls we are focusing on this Thursday morning: Adobe Systems (NASDAQ: ADBE) cut to Neutral at Cowen & Co. Allegheny Tech (NYSE: ATI) Cut to Neutral from Overweight…
Wal-Mart (WMT) Erases All Doubt, Fuels Recession Concerns
The stories about the death of Wal-Mart (WMT) have been disappearing over the last few months as the world’s largest retailer posted remarkable sales. Now, there is nothing left to argue. During May, same-store…
Verizon And Alltel: Too Much Power In Two Sets Of Hands
Word from Vodafone (VOD), which owns part of Verizon Wireless, and other sources is that Verizon is looking at a purchase of Alltel, another cellular carrier. TPG Capital and Goldman Sachs Capital Partners own…
Useless News Of The Day: Ford (F) And GM (GM) Do Well In JD Power Quality Survey
Everyone in the car industry waits for the once-a-year JD Power Initial Quality Study to come out. The poll looks at how many defects a car has in the first 90 days after the…
Useless News Of The Day: RIM (RIMM) Blackberry Can Be Used To Trade Stocks (AAPL)(GOOG)(SCHW)(AMTD)(NOK)(ETFC)
It is almost impossible to understand why business people could not use their RIM (RIMM) Blackberry devices to trade stocks until now. The Blackberry can run e-mail applications and the new versions can be…
Useless News Of The Day: Ballmer And Gates Fought Eight Years Ago (MSFT)
The top story at WSJ.com today is that Bill Gates and Steve Ballmer, heads of Microsoft (MSFT), had a series of fights over control of the company. That was eight years ago. It may…
Useless News Of The Day: Son Of Sex Therapists Join Wal-Mart (WMT) Board
Most of the descendants of Sam Walton, the founder of Wal-Mart (WMT) have often been a quart low. That may be why none of them has run the company. One of his daughters raises…
News Digest 6/5/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, nuclear energy is beginning to make a comeback Reuters reports that Vodafone (VOD) said Verizon Wireless is in talks to buy Alltel. Reuters writes that Corporate Express will open its books…
Asia Markets 6/5/2008 (CN)(SNP)
Markets in Asia were mixed. The Nikkei fell .7% to 14,341. Hitachi was down 2.3% to 772. KDDI was down 2.1% to 698000. The Hang Seng rose .7% to 24,285. China Netcom (CN) rose…
Nuance Raising Cash (NUAN)
Nuance Communications, Inc. (NASDAQ: NUAN) just announced that it has agreed to sell 5,575,000 shares of its common stock in an public secondary offering of its stock. Thomas Weisel Partners is the sole underwriter…
What’s Up At Stamps.com? (STMP)
It’s always interesting to peruse the 52-week highs and lows for trading ideas. Sometimes you see some head-scratchers and sometimes you get Eureka. A review of the highs today showed a more than interesting…
The 52-Week Low Club (ABK)(MBI)(BAC)(JAVA)(IDEV)
Indevus Pharmaceuticals (IDEV) Bad news on drug trial. Falls to $1.21 from 52-week high of $8.22. Ambac (ABK) Possible downgrade by Moody’s. Drops to $2.45 from 52-week high of $89.33. MBIA (MBI) Same downgrade…
RIM (RIMM) Beats Apple (AAPL) In Smartphone Survey
According to the latest data from Changewave, Research-In-Motion (RIMM) is running away with the US smartphone market. The research firm’s May survey was based on data from 2,049 respondents involved with IT spending. The…
Exchanges And Financial Websites Battle Over Real-Time Quotes
Yahoo! (YHOO) Finance began to offer real-time stock quotes recently. It got around the huge fees changed by NYSE and Nasdaq by pulling the data from the Bats ECN, an electronics exchange that handles…
Verizon, Alltel, TPG and Goldman Sachs (VZ, GS, T, VOD)
Alltel may soon be acquired by Verizon Communications Inc. (NYSE: VZ), according to a breaking news report from CNBC‘s David Faber. Faber just noted that the companies are in advanced talks to acquire the…
Jos. A. Bank Earnings Send Shorts Scrambling (JOSB)
JoS. A. Bank Clothiers, Inc. (NASDAQ: JOSB) has just announced its quarterly earnings report for its Q1-2008. Earnings rose by 18% to $0.53 EPS, compared to $0.45 EPS for Q1-2007 and compares to First…
Moody’s Review of Insurers Saps Market Gains (MBI, ABK, MCO, MHP, BRK/A)
MBIA Inc. (NYSE: MBI) and AMBAC Financial Group Inc. (NYSE: ABK) are actually responsible for taking back some of today’s market gains. Actually, it is Moody’s Corp. (NYSE: MCO) that is responsible for this. …
Lear Follows Autos, Lowers Targets (LEA)
Lear Corporation (NYSE: LEA) has just lowered its guidance this morning based upon announced revisions of industry forecasting services and others which have announced downward revisions in their estimates for 2008 North American vehicle…