AbitibiBowater Financing Bonanza (ABH)
AbitibiBowater Inc. (NYSE: ABH) is seeing shares surge after the open this morning. The paper and wood products company secured a financing pact that it had made a filing for earlier. The company noted…
All Work
Douglas A. McIntyre
Ciena, Maintains Strength in Weak Climate (CIEN)
Ciena Corp. (NASDAQ: CIEN) is one of the few bright spots out there in the market this morning. The company beat earnings expectations by posting $0.47 EPS and revenues were up over 37% from…
Short Sellers Take Long Knives To Newspaper Stocks (MNI)(JRC)
Short sellers went after newspaper chains with a vengeance based on data from the NYSE as of February 29. The coverage ratio for Journal Register (NYSE: JRC) hit 52 days. The stock trades at…
Top Upgrades & Downgrades (AA, RDY, FCX, GLBL, LIFC, MKTX, MDT, PRTS)
These are some of the top analyst calls this morning: Alcoa (NYSE: AA) cut to Market Perform at FBR. Dr. Reddy’s (NYSE: RDY) cut to Hold at Citigroup. Freeport-McMoRan (NYSE: FCX) cut to Market…
Fed Opens The Term Auction Facility To $100 Billion
The Fed announced this morning that the amounts outstanding in the Term Auction Facility (TAF) will be increased to $100 billion. The auctions on March 10 and March 24 each will be increased to…
Europe Markets 3/7/2008 (RTP) (SI) (AXA)
Markets in Europe were down sharply at 6.40 AM New York time. The FTSE fell 1.2% to 5,697. BHP Billiton (BHP) dropped 4.4% to 1606. Rio Tinto (RTP) fell 3.3% to 5613. The DAXX…
As Blackstone (BX) Shares Fall, Analysts Cut Ratings
Analyst Michael Hecht of Bank of America has cut his earnings estimate for Blackstone Group (NYSE: BX) by half for the next quarter from $.25 to $.11. Blackstone’s stock now trades at just over…
Microsoft (MSFT) And Google (GOOG) Bidding For Digg?
Digg, the huge user-contributed content site, is up for sale, according to TechCrunch. The likely bidders are, of course, Microsoft (NASDAQ: MSFT) and Google (NASDAQ: GOOG), who seem to be willing to make any…
As Boeing (BA) Pushes Congress, It Risks Business In Europe
The management of EADS sits in Europe watching pork-eating members of Congress talk about the hearings they will hold in an attempt to change the Air Force’s decision to buy $35 billion in air…
Microsoft (MSFT) Talks Trash About Google (GOOG)
Microsoft (NASDAQ: MSFT) is going to take significant market share from Google (NASDAQ: GOOG) and cut the search company’s lead as the most successful internet company in the world, with or without a buy-out…
Washington Mutual (WM) Goes Begging For Cash
Washington Mutual (NYSE: WM) went and got itself a tin cup. Federal regulators want it to raise more money so that it can lend more money. The mortgage bank is making the rounds of…
Recession Over: Sharper Images Takes Gift Cards Again
When Sharper Image’s sales fell so low that it could not make its debt service, the retailer filed for Chapter 11. Part of its cost cutting was a decision to stop taking gift cards…
Consumer Confidence Crashes
One of the key measures of consumer confidence fell through the floor. The RBC Cash Index dropped to 33.1 in early March, down from 48.5 in February. The figure was the worst since the…
NYSE Short Interest Hits Record Led By Huge Increases In Financials
The short interest on the NYSE hit an all-time record for the period ending February 29. Figures by company compare to shares sold short on Ferbruary 15. Financial firms had significant increases in short…
Media Digest 3/7/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, falling home prices could keep buyers on the sidelines until they see a bottom. Reuters writes that a Microsoft (MSFT) deal with Yahoo! (YHOO) could hurt Google (GOOG) in Asia. Reuters…
Asia Markets 3/7/2007 (SNE)(CHL)(PTR)
Market is Asia were down sharply. The Nikkei fell 3.3% to 12,783. Honda (HMC) was down 4.2% to 2990. Sony (SNE) was down 5.1% to 4610. The Hang Seng was off 3.5% to 22,518.…
The 52-Week Low Club (MS)(LEH)(WB)(FNM))(MER)(C)(JPM)
Thornburg Mortgage (NYSE: TMA) Fear of Chapter 11. Falls to $1.26 from 52-wek high of $28.40. CIT Group (NYSE: CIT) Lehman Brothers cuts price target. Drops to $15 from 52-week high of $61.47. iStar…
Apple’s iPhone Strategy For Business, A Long Journey in the Making (AAPL, RIMM, MSFT, PALM, T)
Apple has determined that the best way to reach and ultimately exceed its goal of selling 10 million iPhones this year is by adding more features and opening up the code and making the…
An Idiot’s Guide To A Bad Economy
Today was the day the roof officially fell in on the US economy. News from Europe involving bank trouble at UBS (NYSE: UBS) and an inadequate rescue of Ambac (NYSE: ABK) helped push at…
American Water Works Closer To IPO (AWK)
American Water Works may be closer to coming public. The huge water utility has an amended IPO Filing with full fiscal details for 2007. It lists that is intends to sell up to $1.5…