Food Prices Hurt Mortgage Repayment Rates
Food or a roof over your head? Without food people die. Without a home, they just get wet and cold. The rising prices of commodities like wheat, corn, and rice is driving up food…
All Work
Douglas A. McIntyre
Tax Rebates Can’t Rescue The Economy
For someone who buys 600 gallons of gas at a price per gallon which is $1 higher than it was last year, a $600 federal tax rebate is not much comfort. Merrill Lynch sees…
The Rich On Wall St. About To Become Poor, Sort Of
Wall St. bonuses will be down sharply in 2008. One would hope so. Management at the lower tip of Manhattan has cost investors hundreds of billion of dollars in lost market cap in big…
Food Prices High Through 2010
Usually the White House does what it can to hide bad news. It is rule of politics never to admit troubling information. Hurts the party and national morale. Odd then, that the Administration is…
MBIA (MBI) and Ambac (ABK) May Lose Inflated Credit Ratings
Anyone who does not think that insurance regulators have done what they can to keep credit ratings high at Ambac (ABK) and MBIA (MBI) is a chump. With their tremendous losses and risk in…
Media Digest 5/14/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, lenders and Clear Channel (CCU) have reached an agreement for an LBO of the company. Reuters writes that Carl Icahn may mount a proxy fight for control of Yahoo! (YHOO) Reuters…
Asia Market 5/14/2008 (DCM)(SNE)(CHL)(SNP)
Markets in Asia were mixed with most indexes up. The Nikkei rose 1,2% to 14,119.’ Docomo (DCM) was 2.6% to 159000.Sony (SNE) was up 1.3% to 4850. Yahoo Japan was up .9% to 45850.…
IPO FILING: Metastorm Inc. (MSTM)
A company called Metastorm, Inc. has just filed with the SEC to come public via an initial public offering. It will take the proposed ticked on NASDAQ of "MSTM." It has filed to sell…
IAC/Interactive vs. Liberty: Diller Trumps Malone (IACI, LINTA, LCAPA, LMDIA)
IAC/InteractiveCorp. (NASDAQ: IACI) and Liberty Media Corporation (NASDAQ: LINTA) (NASDAQ: LCAPA) (NASDAQ: LMDIA) have settled their disputes, and it looks like Barry Diller Came out on top of John Malone. We covered this scenario…
Continental Unloading Copa Shares (CPA, CAL)
Copa Holdings, S.A. (NYSE: CPA) announced today that it has filed a registration statement for a proposed offering of 3,977,300 Class A non-voting shares of Copa Holdings by selling shareholder Continental Airlines, Inc. (NYSE:…
Electronic Arts; Half Full & Half Empty (ERTS, TTWO)
Electronic Arts (NASDAQ: ERTS) posted a net loss of $94 million or -$0.30 EPS, but on a non-GAAP basis from operations the company showed $0.09 EPS on a "excluding a benefit basis of $919…
Applied Materials Solar Not Enough To Carry Earnings, Yet (AMAT)
Applied Materials Inc. (NASDAQ: AMAT) posted $0.22 EPS on $2.15 Billion in revenues. Non-GAAP net income for Q2-2008 was $362 million, or $0.26 EPS. First Call had estimates at $0.22 EPS on $2.13 Billion…
The 52-Week Low Club (IMB)(WNR)(VVTV)(URRE)
IndyMac Bancorp (IMB) Broker report says company needs more capital. Falls to $2.15 from 52-week high of $37.50. Western Refining (WNR) Bad earnings and broker downgrade. Drops to $7.81 from 52-week high of $66.13.…
CNBC: An Icahn Proxy Fight For Yahoo! (YHOO): Never
CNBC is saying that Carl Icahn may start a proxy fight for control of Yahoo! (YHOO). It will never happen. Microsoft (MSFT) has made it clear that it does not want Yahoo!. At this…
Lazard’s Alternative Energy Calls (CSIQ, LDK, JASO)
Between late yesterday and early today, Lazard Capital Markets’ Sanjay Shrestha has keyed on many of his alternative energy picks after earnings or other news. Among the calls are Canadian Solar, Inc. (NASDAQ: CSIQ),…
Setbacks Back At Boston Scientific (BSX)
Boston Scientific (BSX) has been the "gang who couldn’t shot straight" of the medical device business for some time. It spent far too much money to buy another medical company, Guidant. For all of…
As Airbus Cracks Up, A Little Light For Boeing (BA)
No one wanted to be in Boeing’s (BA) shoes, at least until today perhaps. The big US airplane company has hit three delays for its 787 Dreamliner and there are rumors that union work…
Biotech Business Daily (CHTP, CRXL, LLY, IOMI, MEDX, TRCA)
Chelsea Therapeutics International, Ltd. (NASDAQ: CHTP) falling today after first quarter earnings showed wider losses than first quarter 2007. Net loss was $8.7 million compared to a loss of $3.8 million in 2007. The…
IPO FILING: Patriot Risk Management (PRMI)
Patriot Risk Management filed with the SEC for its IPO paperwork this morning. The maximum proposed aggregate offering price for the workers’ compensation company is listed as $115 million but this number is for…
Hughes Raises Satellite Spending Cash (HUGH)
Hughes Communications, Inc. (NASDAQ: HUGH) is under a little pressure after the company announced plans to offer a shelf registration for up to 2 million shares of common stock. The broadband satellite network solutions…