Marvel (MVL) Beats The Street
Marvel Entertainment (MVL), the home of Captain America (RIP) and X-Men, beat Wall St. expectations and its shares are up almost 20% to $27.80. For Q3 2007, Marvel reported that net income rose to…
All Work
Douglas A. McIntyre
CNBC Reports Parsons Will Step Down As CEO of Time Warner (TWX), Stay As Chairman
CNBC is saying the Richard Parsons will step down as CEO of Time Warner (TWX) effective the end of the year, and that the announcement will be made today. He will remain as Chairman.…
Entergy Spinning Off Nuclear Operations (ETR)
Entergy Corp. (NYSE:ETR) is trading up over 2% right after the open. The power utility reported earnings, but perhaps even bigger than earnings is the news that the $24 Billion market cap power company…
Starbucks (SBUX) Hits 52-Week Low
Over the weekend, Barron’s institutional investing poll listed Starbucks (SBUX) as one of the most overvalued stocks in the market. That says a great deal since the stock was already down from a 52-week…
Diller Breaks Up The IAC/Interactive Empire (IACI)
IAC/Interactive (NASDAQ:IACI) has confirmed that the company will be split up into FIVE separate entities. The New IAC under Barry Diller will be comprised of: The businesses currently comprising its Media & Advertising sector:…
Dell Heads Toward More Virtualization (DELL, VMW, CTXS)
Dell Inc. (NASDAQ:DELL) has announced a definitive agreement to acquire EqualLogic, a provider of high-performance iSCSI storage area network (SAN) solutions uniquely optimized for virtualization. Dell will purchase EqualLogic for approximately $1.4 billion in…
IACI (IACI) Breaking Into Five Companies?
IACI (IACI) will break into five companies, according to a report on CNBC. Barry Diller has been under pressure to improve the company’s stock price. The company is an odd mix of online properties…
Biotech Implosion: Novacea (NOVC, SGP)
Novacea, Inc. (NASDAQ:NOVC) has ended its Phase III ASCENT-2 clinical trial of Asentar(TM) (DN-101). Unfortunately this is Novacea’s lead investigational cancer therapy for the treatment of patients with androgen-independent prostate cancer. The trial halt…
Pre-Market Stock News (November 5, 2007)
(ABT) Abbott’s investigational SIMCOR offers similar LDL lowering to simvastatin and significantly raises HDL and lowers triglycerides in Phase III studies.(AVGN) Avigen’s AV411 shows promising initial results for neuropathic pain in study.(AVP) Avon featured…
Pre-Market Analyst Calls (November 5, 2007)
ACA cut to Underperform at Credit Suisse.ACW raised to Neutral at UBS.AMSC started as Buy at Jefferies.ATPG cut to Underperform at RBC.BSC cut to Equal Weight at Lehman.BSY cut to Neutral at Merrill Lynch.CNP…
News Corp (NWS): Social Networks Try To Grow Up
News Corp’s (NWS) is launching a way for advertisers to target users at its huge social network, MySpace. The marketer’s knock against the site has been that users cannot be grouped into neat units…
Europe Markets 11/5/2007
Markets in Europe were down at 6 AM New York time. The FTSE fell 1% to 6,463. Barclays (BCS) was off 4.2% to 515. BHP Billiton (BHP) was down 3.9% to 1680. The DAXX…
Boston Scientific (BSX): Saving Itself Through Auctioning Off Pieces
Boston Scientific (BSX) did it shareholders a terrible disservice buy buying Guidant in a bidding war with Johnson & Johnson. It now has long-term debt of almost $8.3 billion. Troubles in its stent business…
Kraft (KFT) Buckles To Peltz Pressure
Kraft (KFT) is in the late stages of a deal to sell its Post cereal division to private label cereal company Ralcorp for $2.8 billion. The unit was considered a poor performer at Kraft.…
Media Digest 11/5/2007 Reuters, WSJ, NYTimes, FT, Barron’s
According to Reuters, Chuck Prince stepped down at CEO of Citigroup (C) and the bank indicated it may have to write off as much as another $11 billion. Reuters writes that shares of PetroChina…
Asia Markets 11/5/2007 Hang Seng Down 5%
Shares in Asia fell sharply. The Nikkei fell 1.5% to 16,269. Honda (HMC) rose 1.4% to 4270. KDDI fell 2.8% to 799000. Softbank fell 5.1% to 2675. Yahoo Japan fell 5.6% to 50500. The…
Citigroup (C): The Journeyman Leaves The Stage
One thing must be said for Chuck Prince, who left Citigroup (C) todayafter four years. He could take a beating. From the moment the CEO’s chair was vacated by the ample frame of Sandy…
A Little Trouble For Bristol-Myers (BMY) Plavix
Plavix from Bristol-Myers (BMY) is the medical drug-thinner of choice. According to CNN Money, sales of the drug "totaled $3.4 billion in sales during the first nine months" Now Eli Lilly (LLY) has a…
Apple (AAPL) Re-Locks iPhone
According to a blog at Fortune.com, Apple (AAPL) has re-locked the software for the iPhone, at least in the UK. The latest version of the phone comes pre-installed with a software update — 1.1.2…
Pfizer (PFE): Viagra Can Make Men Hard Of Hearing
Pfizer (PFE) has a new ad campaign for its erectile dysfunction drug Viagra. The marketing message is all over TV and in little video clips online. Reuters.com appears to have one of the ads…