Pimco Bets The Farm On Mortgage Debt
The Pimco Total Return, run by highly-worshiped bond manager Bill Gross, is putting most of its chips into mortgage debt. The fund, which manages $130 billion, is counting on the federal government to make…
All Work
Douglas A. McIntyre
Why Wall St. Hates Credit Rating Agencies: S&P May Downgrade Airlines (AMR)(CAL)(DAL)(UAUA)(NWA)
Based on several pieces of analysis, the US airline industry will lose over $7 billion this year. If jet fuel stays high and a recession cuts passenger counts, the figure could go much higher.…
Media Digest 5/23/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Ford (F) has given up on its plan to make a profit in 2009. Reuters reprots that Yahoo! (YHOO) nominated its board and delayed its annual meeting. Reuters writes that Merrill…
Asia Markets 5/23/2008 (DCM)(CHL)(CN)
Markets in Asia were mixed. The Nikkei rose .2% to 14,012. Komatsu fell 3.3% to 3210. Docomo (DCM) rose 2.6% to 161000. The Hang Seng fell .7% to 24,861. China Mobile (CHL) fell 3.2%…
Yahoo!’s Board Defections Begin (YHOO, MSFT)
Yahoo Inc. (NASDAQ: YHOO) submitted and SEC filing today after the close that Edward Kozel resigned from the board of directors. This filing said he had originally intended to leave in February but decided…
NRG & Calpine: Insanity or Opportunistic? (NRG, CPN)
After last night’s disclosure and confirmation that NRG Energy, Inc. (NYSE: NRG) had sent a buyout offering letter to Calpine Corporation (NYSE: CPN), we wanted to let the dust settle here before calling this…
The 52-Week Low Club (GE) (EK)
Dick’s Sporting Goods (DKS) has weak profits. Share drop to $21.07 from 52-week high of $36.78. GE (GE) falls to $30.80 on general economic malaise. The company’s 52-week high is $42.15. Blue Coat Systems…
McDonald’s (MCD) Foots The Bill
McDonald’s (MCD) is taking a risk, but it may be a clever one. The world’s largest fast food chain will absorb most of the rising prices of food commodities to keep prices which customers…
Google (GOOG) Grabs More Search Engine Share
Prospects in the search arena look more troubling for Yahoo! (YHOO) and Microsoft (MSFT) as each month passes. According to comScore, in April, Google (GOOG) picked up 1.8% more of the US market to…
Evergreen Solar (ESLR) Up 20%, Caveat Emptor
Evergreen Solar (ESLR) is trading up 20% to $10.86 on news that it signed $1 billion worth of contracts. The larger of the deals involved is with German-based Ralos Vertriebs GmbH and has a…
Ford (F) Falls On Its Sword
After over a year of saying it would make a profit in 2009, the new management at Ford (F) has given up the ghost. Once auto sales started to move down sharply the middle…
Goldman Sachs: Sirius & XM To Raise Capital (SIRI, XMSR)
Goldman Sachs has issued a research report noting that Sirius Satellite Radio (NASDAQ: SIRI) and XM Satellite Radio (NASDAQ: XMSR) are likely going to need to raise capital. The note projects that it believes…
OPEC Claims It Can Do Nothing About Oil Prices
Someone is not telling the truth about oil supply and demand. It appears to be the fellows over at OPEC. According to Bloomberg, Abdullah bin Hamad al-Attiyah, Qatar’s oil minister said The Organization of…
Suntech Scores on Earnings (STP)
Suntech Power Holdings (NYSE: STP) has posted earnings ahead of expectations. The earnings were $0.35 EPS and revenues rose 76% to $434.5 million; First Call estimates were $0.28 and $378 million. The gross margin…
Top 10 Pre-Market Analyst Calls (AKAM, AEP, AAPL, BIDZ, CHINA, FMD, LVLT, PNRA, CRM, SPLS)
These are ten of the analyst calls we are focusing on this Thursday morning: Akamai Tech (NASDAQ: AKAM) cut to Sell at Goldman Sachs. American Electric Power (NYSE: AEP) Cut to Hold From Buy…
Tearing The Guts Out Of The Sirius (SIRI) Merger With XM Satellite (XMSR)
Some of the fat cats in the Senate think that the Sirius Satellite (SIRI) merger with XM Satellite might be OK if the combined company would give up a large portion of its spectrum.…
As UBS (UBS) Gives Away The Farm, US Banks Look Very Expensive (C)(JPM)(GS)(MER)
UBS (UBS) had to raise money. The sins of its subprime addiction have come back to haunt it. US bank shareholders should shudder when they look at the pricing that the Swiss bank had…
Blacking Out The Sun: Falling In Love With Filthy Fuel
The International Energy Agency, the most well-regarded oil-price think tank in the world, says it is now concerned with whether the global supply of oil will be adequate to meet demand over the next…
Pfizer (PFE): Stop Smoking And Go Insane
It looks like Pfizer’s (PFE) anti-smoking drug Chantix makes people kick the habit but at the same time can push them toward suicide or depression. It is a hard decision whether patients want to…
Short Sellers Make Huge Bets Against Financials, Flee Tech
Short sellers are making significant bets that most financial stocks traded on the NYSE will fall sharply. Data is as of May 15 and compares to information on April 30. Short interest in Countrywide…