Metal Commodity Price To Eat Car Company Margins, If They Had Any
Ford (NYSE: F) is trading near its 52-week low at $5.75. GM (NYSE: GM) came within a dime of its nadir today, trading at $21.43. These figures are not very different from where the…
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Douglas A. McIntyre
IPO FILING: Bostwick Laboratories, Inc. (BOST)
Bostwick Laboratories, Inc. submitted an IPO filing Friday, March 7. The filing shows a proposed maximum amount in securities as $100 million. The underwriters are listed as Banc of America, Wachovia Securities, William Blair,…
Fed: An Emergency Rate Cut
The Fed may cut rates between now and its scheduled meeting on March 18, according to Goldman Sachs. The firm said it had previously expected the cuts to come later. Reuters reports "Goldman said…
Citigroup See $9 Billion Write-Downs At Investment Banks
The first quarter should be another brutal right of passage for big investment banks. Citigroup is forecasting that they will have to write-down another $9 billion in Q1. According to Reuters the damage will…
Tiptree, A Filing For Private Vulture Fund
Tiptree Financial Partners, L.P. has submitted a filing to sell securities, although this is not a traditional IPO. This is a limited partnership holding company managed by Tricadia Capital that we’d describe on our…
EMC’s Value In Iomega Snubbed (IOM, EMC)
If you have followed mobile storage solutions for computing for more than a decade, you know Iomega Corp. (NYSE: IOM). The company used to be the leader for its Zip Drives, but by now…
Blackstone Shows Muted 2008 For Private Equity (BX)
The Blackstone Group, LP (NYSE: BX) has posted earnings of $0.08 EPS before charges, while First Call had $0.19 as consensus. The private equity giant also posted revenues of $447.5 million, compared to consensus…
Nationwide Parent Wants To Take It Private… Going Mutual! (NFS)
Nationwide Financial Services, Inc. (NYSE: NFS) has received a proposal from Nationwide Mutual Insurance Company, Nationwide Mutual Fire Insurance Company and Nationwide Corporation, to acquire all of the outstanding Class A shares of common…
Keryx Joins Biotech Zombie Ranks (KERX)
Keryx Biopharmaceuticals, Inc. (NASDAQ: KERX) may have just joined the ranks of a biotech zombie, even if it doesn’t want to admit that. The company announced that top-line results from its SUN-MICRO Phase III…
Level 3 (LVLT) Captain Walks The Plank
Less than a month ago, 24/7 Wall St. put the awful performance of Level 3 (NASDAQ: LVLT) at the feet of the two men who have run the company for over a decade and…
McDonald’s (MCD) Has Boffo February
McDonald’s amazed even itself with magnificent same-store sales in February. Ronald McDonald and the other clowns in management watched the firm post February comparable sales which increased 8.3% in the U.S. as McDonald’s market-…
JPMorgan Cuts S&P and GDP Targets (JPM)
JPMorgan (NYSE: JPM) has lowered its U.S. economic targets for 2008. The firm lowered US GDP growth outlook to +0.9% from a prior +2.1%. This call implies that JP Morgan now sees its S&P…
White Mountains Buys Off Warren Buffett (WTM, BRK/A)
White Mountains Insurance Group, Ltd. (NYSE: WTM) entered an exchange agreement with Berkshire Hathaway Inc. (NYSE: BRK-A) to transfer certain runoff businesses and a substantial amount of cash to Berkshire Hathaway, and this will…
Top 10 Pre-Market Analyst Calls (ARO, ABH, FAST, JCP, JWN, KERX, MHS, AMTR, SHOR, SPLS, VE)
These are some of the analyst calls that 247WallSt.com is focusing on in early pre-market trading this Monday morning: Aeropostale (NYSE: ARO) Cut To Sell From Hold at Citigroup. AbitibiBowater (NYSE: ABH) Raised to…
Europe Markets 3/10/2008 (BHP)(SI)(ALU)
Markets in Europe were narrowly mixed at 7.15 AM New York time. The FTSE was up .1% to 5,706. BHP Billiton (BHP) was off 3.8% to 1529. HSBC (HBC) was up 1.9% to 773.…
Cable TV Goes After Ad Target Business (CMCSA)(CHTR)TWC)
The Big Six cable companies will team up to sell advertising, targeted by geography and subscriber behavior. It is the fondest hope of television which has seen much of the ability to get to…
Corporate Earnings Growth Disappearing, Could Go Negative
A survey of analysts taken recently indicates that they believe earnings will be flat in the first and second quarters of this year when compared to the same periods in 2007. The poll, by…
The Death Of “Net Neutrality” (CMCSA)
The FCC is going after Comcast (NASDAQ: CMCSA) for cutting bandwidth to some file-sharing services which use huge amounts of capacity on the cable company’s network. The agency believes that all telecom and cable…
Media Digest 3/10/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, gas price are at $3.20 a gallon and could rise another $.20 to $.30 in the next month. Reuters writes that Chevron will develop two major projectsw in Asia. Reuters reports…
Asia Markets 3/10/2008 (LFC)(SNP)
Markets in Asia fell The Nikkei was off 2% to 12,532. Mazda was down 6.2% to 364. NEC was down 3.1% to 405. The Hang Seng fell .5% to 22,384. China Life (LFC) fell…