Citigroup (C): A Promise Broken
The promise from Wall St. firms was implied, not spoken. The heads of operations like Morgan Stanley (MS) and Merrill Lynch (MER) said that the worst was probably over in the credit markets. It…
All Work
Douglas A. McIntyre
Starbucks (SBUX): New Drinks For Coffee Haters
In a sign of self-loathing, Starbucks (SBUX) is turning to non-coffee drinks to rescue it. The coffee chain will begin selling smoothies and Italian iced drinks this summer. The firm hopes the new offerings…
No Fed Rate Cut
In what may be the last great act of his presidency, George Bush is sending many Americans tax rebates. The checks began going out this week. Some households may get as much as $1,200.…
Media Digest 4/30/2008 Reuters, WSJ, NYTime, FT, Bloomberg
According to Reuters, the Fed will probably cut rates and them pause for some time Reuters writes that senior financiers see the current economic situation as a recession on Main Street and depression on…
Asia Markets 4/30/2008 (SNP)(HMC)
Markets in Asia were mixed. The Nikkei fell .3% to 13,450. Dentsu fell 4.4% to 239000. Honda (HMC) fell 3.8% to 3300. The Hang Seng fell .3% to 25,836. China Netcom (CN) fell 2.7%…
Yes, We Have No Bananas: Did Chiquita (CQB) and Del-Monte (FDP) Pick-Pocket Wal-Mart (WMT)?
Fresh Del-Monte (FDP) came out with some pretty strong earnings today. Income climbed to $63.6 million, or $1 per share, compared with $51.6 million, or 89 cents per share a year ago. Much of…
SPAC Dissolving: Shanghai Sentry Acquisition Corp.
Today, we have seen what may be one of the few special purpose acquisition companies, or SPAC’s, see a return of capital with a proposed deal voted down by shareholders. Shanghai Sentry Acquisition Corp.…
AT&T (T) To Make Big Apple (AAPL) iPhone Price Cut
To keep customers coming in when the new Apple (AAPL) 3G iPhone comes out, probably in June. AT&T (T) will cut prices on the current model by as much as $200. According to Fortune,"…
Citi Taps The Shareholder Keg (C)
Citigroup Inc. (NYSE: C) has come out tonight saying it will sell some $3 Billion in common stock. Citi claims that after its last $6 Billion, this $3 Billion would take its Tier One…
T. Boone Pickens: Energy Equities Reflect $75 Oil Rather Than $100 Oil
CNBC just hosted another interview with oil magnate and billionaire T. Boone Pickens today after the close. With recent prices of oil having been near $120 at the high, Pickens still thinks $125.00 is…
The 52-Week Low Club (GIL)(ENR)(SUN)(TRID)(TUNE)(UNH)
Gildan Activewear (GIL) Company cuts guidance. Drops to $23.75 from 52-week high of $46.47. Energizer (ENR) Profit falls almost 9%. Sells off to $71.25 from 52-week high of $119.60. Sunoco (SUN) Broker downgrade. Falls…
Take-Two’s GTA4 Retail Checks…. Maybe Take-Two Can Defend Against EA (TTWO, ERTS, GME, BBY)
We at 247WallSt.com have made calls doing our own checks to see just how the new blockbuster mega-hit Grand Theft Auto 4 video game from take-Two Interactive (NASDAQ: TTWO) is selling at some of…
Survey Shows No 3G Apple (AAPL) iPhone Hurts Product’s Perception
ChangeWave Research recently ran a survey about what customers like and disliked about the Apple (AAPL) iPhone and Research-In-Motion (RIMM) Blackberry. At the top of the dislikes among iPhone customers was the lack of…
Secondary Takes Air From Titan’s Sails (TITN)
Titan Machinery (NASDAQ: TITN) had been one of the best performing IPO’s since the end of 2007. The owner and operator of full service agricultural and construction equipment stores in North America. As you…
Andersons Does Small Roll-Up Acquisition (ANDE)
The Andersons, Inc. (NASDAQ: ANDE) is making a niche acquisition to fit into its fertilizer operations. It has acquired Douglass Fertilizer & Chemical Inc. as an addition to its Plant Nutrient Group to diversify…
Genentech & Biogen-Idec Tank Rituxan Hopes on Lupus Treatment (DNA, BIIB)
Genentech, Inc. (NYSE:DNA) and Biogen Idec, Inc. (Nasdaq:BIIB) came out this morning with some disappointing news. The biotech giants have announced that a Phase II/III study of Rituxan for lupus has failed to meet…
Valero Jumps Over Lowered Hurdles (VLO, BP, RDS, COP)
Valero Energy Corp. (NYSE:VLO) has reported 2008 first quarter income of $261 million, or $0.48 EPS, compared with income of $1.1 billion and $1.77 EPS for the first quarter of 2007. After VLO’s March…
Corning Sees Thru The Glass (GLW)
Corning Inc. (NYSE: GLW) has reported earnings that are so far pleasing Wall Street. The LCD glass giant posted $0.64 EPS on a gain, and from operations it posted $0.44 EPS on revenues of…
Under Armour, Under Its Targets (UA)
Under Armour (NYSE: UA) has reported earnings that look like more disappointment is on the way. The sports apparel company posted $0.06 EPS on revenues of $157.3 million, although First Call had estimates at…
TheStreet.com Earnings Miss Estimates (TSCM)
TheStreet.com (NASDAQ: TSCM) has reported earnings this morning. Jim Cramer’s offspring posted a 19% drop in net income to $2.4 million, or $0.07 EPS, but the company posted a 31% increase in revenues to…