Starbucks (SBUX) Falls Apart, Completely: Shares Down 11%
Starbucks (SBUX) is now dead, just not buried. The company warned on earnings for the quarter and the year. Howard Schultz’s attempt at a turnaround never made it out the door. He was too…
All Work
Douglas A. McIntyre
Amazon (AMZN) Makes Wall St. Cry
For Amazon (AMZN) the performance can never be good enough. The firm posted a net sales increased 37% to $4.13 billion in the first quarter. Net income increased 30% to $143 million in the…
Qualcomm (QCOM) Squeezes By, Just
Qualcomm (QCOM) the tech company involved in more intellectual property litigation that any other, posts just OK earnings. Revenue hit $2.61 billion, up 17 percent year-over-year. Net income inched higher to $766 million, up…
The 52-Week Low Club (ABK)(ARW)(MNI)(CAL)(NWA)(TSFG)(DAKT)
Ambac (ABK) Big loss for quarter. Falls to $3.08 from 52-week high of $96.10. Arrow Electronics (ARW) Drop off in first quarter profit. Sells down to $26.58 from 52-week high of $44.95. McClatchy Newspapers…
Biotech Business Daily (BIIB, GSK, ILMN, IVGN, LJPC, SIRT, STEM)
Biogen Idec (NASDAQ: BIIB) is sliding marginally despite reported earnings today that showed a 23% increase in earnings riding on sales growth on Avonex and Rituxan. The earnings beat estimates and the company raised…
Apple’s Run Ahead of Earnings; Stock May See $150 or $180 After News (AAPL, DELL, HPQ)
After today we’ll get to see earnings out of Apple (NASDAQ: APPL). The estimates for the computer and portable device giant from First Call are $1.07 EPS on $6.96 billion in revenues. Next quarter…
Eaton’s Secondary Pricing Reflects Discounting (ETN)
Eaton Corp. (NYSE: ETN) priced a common stock offering for 17.5 million shares at $84.00 per share for gross proceeds of $1.43 billion this morning. Its market cap is roughly $12.4 billion. Joint book-running…
Safeco Acquired, Another P&C Insurer Disappears (SAF)
Liberty Mutual has agreed to acquire Safeco Corp. (NYSE: SAF) for some $6.12 billion this morning. Liberty offered to purchase all outstanding common shares at $68.24 per share, representing roughly a 50% premium to…
Foundation Coal Reverses Coal Sector Gains (FCL, BTU, ACI, KOL)
On Monday, Peabody Energy (NYSE:BTU) announced strong first quarter results: 15% increase in revenue to a record $1.28 billion and EPS from continuing operations of $0.26. Peabody raised its full-year target by $500 million,…
American Water Works, Open For Trading (AWK)
American Water Works Co. Inc. (NYSE: AWK) has opened for trading. The first real open-print was $20.60 for some 6.62 million shares. Unfortunately, this is going to gear down some of the water expectations…
Immelt Targets More Cuts at GE Annual Meeting (GE)
Jeff Immelt will get to explain the recent General Electric Co. (NYSE: GE) earnings SNAFU all over again today. Frankly, all we really care about at 247WallSt.com is what lies ahead rather than rehashing…
Earnings, What Earnings? Ambac Loses More Than Total Share Price (ABK)
Ambac Financial Group Inc. (NYSE: ABK) saw yet another huge loss today, and as this is still key for system-wide "counterparty risk" concerns this is a drag on the market. On an operational basis,…
EMC Follows VMware Higher On Earnings (EMC, VMW)
Shares of EMC Corp. are running up after earnings. The company’s net income of $268.8 million came to $0.13 EPS GAAP and $0.16 EPS non-GAAP while revenues were $3.47 Billion. First Call had estimates…
Level 3 Guidance Sends Short Sellers Covering (LVLT)
Level 3 Communications (NASDAQ: LVLT) is out with earnings, and the short sellers are getting out of the way. The company posted -$0.12 EPS on $1.09 Billion in revenues, while First Call estimates were…
Despite US Air Carriers Issues, Boeing Guidance Mostly Strong (BA)
Boeing Co. (NYSE: BA) posted a 38% profit gain of $1.2 billion on a 4% revenue gain to $16 Billion in Q1-2008, and its numbers come to $1.62 EPS. First Call had estimates of…
Top 10 Pre-Market Analyst Calls (BVF, CERN, GIGM, IRBT, MHS, MDP, SII, STLD, STI, TRI)
These are not all of the analyst calls, but these are ten of the calls affecting shares this Wednesday morning: Biovail (NYSE: BVF) cut to Sector Perform at CIBC. Cerner (NASDAQ: CERN) raised to…
Sony (SNE) Can’t Get PS3 Right (AAPL)(MSFT)
Sony (SNE) has once again delayed the launch of its virtual PS3 application. It allows owners of the video console to play games together over broadband, chat, download games and the such. Microsoft’s Xbox…
FDA, Short On Funds Can’t Look For Deadly Drugs
The FDA says it needs $70 million to inspect all of the foreign facilities it needs to so it can screen for dangerous drugs or drug components. The amount does not seem like much,…
No Turnaround At Ford (F)
The Wall Street Journal thinks that things are getting better at Ford (F) and that management efforts can now be called a "turnaround". The paper points to improving earnings and cars which get better…
As Food Prices Become The World’s Greatest Economic Problem, There Is No Solution
The food crisis got worse yesterday just as it seems to get worse as each week passes. CostCo (COST) is having to limit fulfilling huge orders for items like flour. According to Reuters "with…