Asia Markets 11/21/2007
Asia markets took on water. The Nikkei was down 2.5% to 14,837. Honda (HMC) was down 5.7% to 3620. Sony (SNE) was down 1.8% to 5230. The Hang Seng fell 4.2% to 26,618. China…
All Work
Douglas A. McIntyre
Whole Foods, Whole Earnings (WFMI, UNFI)
Whole Foods (NASDAQ:WFMI) is trading up in after-hours following the company’s earnings report. It posted 1.743 Billion revenues, and earnings were listed as $0.24 EPS (but that appears to be after $0.10 for pre-open…
The 52-Week Low Club (ERIC)(FRE)(FNM)
Giant Interactive (GA) Market unhappy with Chinese game company’s financial results. Drops to $9.56 from 52-week high of $20.46. Freddie Mac (FRE) Bad earnings and warns on dividend. Falls to $24.31 from 52-week high…
Does Big Tobacco Actually Love Pfizer’s Anti-Smoking ‘Chantix’ Pill? (MO, RAI, PFE)
Pfizer (NYSE:PFE) is seeing additional pressure this afternoon. Apparently the FDA said it is looking into reports that Pfizer has sent out an "early communications notice" to doctors warning them to monitor patients using…
Reuters.com Leads Online Financial Website Derby
According to Hitwise numbers for October, Reuters.com and CNNMoney.com had the largest web audiences of financial sites which are not part of larger portals like Yahoo!. Reuters.com grew much more quickly. Among other sites…
Fed Outlook Forecast & Regressing Minutes, Enough Ammo For Bulls & Bears Alike
The FOMC gave its first of its quarterly outlooks for the years ahead: The FOMC now sees slower GDP growth, raised unemployment, and somewhat reduced inflation. Real GDP Growth expectations have been shaved to…
Wall St. Continues Worries About AMD (AMD)
Much of the strength in HP’s (HPQ) earnings yesterday came from PC sales, particularly laptops. After being up on its quarterly report, HP is fairly flat at mid-day, but chip provider Intel (INTC) is…
Wynn Resorts Tries A Special Dividend (WYNN)
Wynn Resorts, Ltd. (NASDAQ:WYNN) has announced something that would have otherwise been unexpected. Its Board of Directors (likely Steve Wynn) has declared a cash distribution of $6.00 per share for holders of its common…
Quality Systems Free From SEC Inquiry (QSII)
Quality Systems, Inc. (NASDAQ:QSII) has issued a release stating that it received a letter dated November 19, 2007, from the Securities and Exchange Commission (L.A. regional office) that informed CFO Paul Holt that the…
GameStop’s Momentum… Game Stopped For Now (GME)
GameStop Corp. (NYSE:GME) has posted earnings of $0.31 EPS (after $0.02 debt retirement cost) and sales were $1.6112 Billion for the quarter. First Call had estimates at $0.21 EPS and $1.4 Billion revenues. This…
Target Masks Earnings With Huge Stock Buyback (TGT)
Shares of Target Corp. (NYSE:TGT) are trading higher despite what might be a somewhat disappointing earnings number. The company posted EPS at $0.56, although First Call had $0.62 EPS as the target. The language…
Pre-Market Stock News (November 20, 2007)
Biogen Idec (BIIB) announced an alliance with Neurimmune Therapeutics to develop treatments for Alzheimer’s Disease.BJ’s Wholesale (BJ) $0.35 EPS vs $0.33 est.Blue Coat Systems (BCSI) $0.30 EPS vs $0.24 est.; sees next quarter $0.31…
Freddie Mac (FRE) Disappoints, May Cut Pay-Out, Shares Fall 6%
Freddie Mac (FRE) reported a net loss of $2.0 billion, or $3.29 per diluted common share, in the third quarter of 2007, compared to a net loss of $715 million, or $1.17 per diluted…
Top 10 Pre-Market Analyst Calls (AKAM, GLW, DLTR, XOM, MFE, SNP, SBUX, STO, UA, WYNN)
Akamai (AKAM) started as Neutral at B of A.Corning (GLW) started as Sector Perform at RBC.Dollar Tree (DLTR) raised to Overweight at Lehman.Exxon Mobil (XOM) raised to Buy at UBS.McAfee (MFE) raised to Buy…
DH Horton (DHI) Rallies On Results
DH Horton (DHI) reported a net loss for its fourth fiscal quarter ended September 30, 2007 of $50.1 million, or $0.16 per diluted share. The quarterly results included pre-tax charges to cost of sales…
Office Depot (ODP) OK
Office Depot (OPD) said for the third quarter of 2007, sales increased 2% to $3.9 billion. Sales in the North American Retail Division were flat with comparable store sales down 5% for the quarter.…
Salvation For Cable? GOP Hates FCC Plan
It looked like the FCC was going to have cable companies for dinner. The commission was talking about forcing cable systems to open channels to small networks, and perhaps planning to halt future acquisitions…
Europe Markets 11/20/2007
Markets in Europe were higher at 6.25 AM New York time. The FTSE rose .5% to 6,152. Barclays (BCS) was up 3.5% to 508.5. Nothern Rock was down 25.6% to 77.5. Unilever was down…
McClatchy (MNI) Bleeding To Death
McClatchy (MNI), the large newspaper chain, reported dismal results for the month of Octobers. The company reported both consolidated advertising and total revenues in October 2007 decreased 9.9%.. Classified advertising fell almost 20% and…
Goldman’s (GS) Alpha Fund May Have Huge Loss For Year
According to Bloomberg "Goldman Sachs Group Inc.’s (GS) Global Alpha hedge fund may lose about $6 billion in assets this year, a 60 percent decline, because of trades that went awry and client withdrawals,…