Asia Markets 10/29/2007
Markets in Asia were up sharply The Nikkei rose 1.2% to 16,698. Canon (CAJ) rose 3% to 5890. Docomo (DCM) rose 5.8% to 163000. Sony (SNE) rose 3% to 5720. The Hang Seng rose…
All Work
Douglas A. McIntyre
Merrill Lynch (MER): A Dirge For Stan O’Neal
After taking Merrill Lynch’s (MER) stock from $35 in early 2003 to $98 earlier this year, the company’s board sacked CEO Stan O’Neal for one bad quarter. O’Neal came across as a brutal executive.…
Merrill Lynch (MER): Stan O’Neal Is Gone, Board Washes Its Hands
The New York Times is reporting that Merrill Lynch (MER) CEO Stan O’Neal is out after the firm reported huge write-downs in the last quarter. It is not clear who will replace them. Unfortunately,…
Apple (AAPL) Restricts iPhone Sales
Hand it to the people at Apple. They want complete control of the world of iPhone. To that end, they will not sell anyone over two of the handsets, and customers have to give…
New Analyst Calls To Drive Microsoft (MSFT)
Analysts have now raised the price of poker for Microsoft (NASDAQ:MSFT) stock. We have our own thoughts on this, but we still tend to view this from a value perspective. At the start of…
Carl Icahn Sends A “Cover Your Assets” Letter to BEA Systems (BEAS, ORCL)
Carl Icahn has decided to try seizing the day at BEA Systems (NASDAQ:BEAS) by keeping management from killing the buyout and shooting shareholders in the feet. While he did agree initially that the $17…
Citrix CEO Selling Shares Into VMware/Virtualization Strength (CTXS, VMW)
Citrix Systems, Inc. (NASDAQ:CTXS) announced after today’s close that Mark B. Templeton, its President & CEO, is adopting a prearranged trading plan for the exercise of 763,017 expiring stock options and the sale of…
FOMC OCT 2007 Dilemma: Rate Cut Versus Dollar Crisis
We do not have the final numbers in for today, but as of yesterday the 30-day FED FUND FUTURES contract wasn’t deciding IF the FOMC would cut rates. It showed a 100% chance of…
The 52-Week Low Club
Bankatlantic (BBX) Real estate loans lead to loss. Falls to $4.05 from 52-week high of $14. Moneygram (MGI) Two recent analyst downgrades. Drops to $14.42 from 52-week high of $35.18. Journal Register (JRC) Newspaper…
Blank Check IPO Filing: Overture Acquisition, Involving Paul Pressler (NLX, SBUX, TWX, GPS)
We’ve seen another blank check company IPO called OVERTURE ACQUISITION CORP. that has filed to come public via an IPO in a usual $10.00 per share/unit with an offering of 15 million units on…
The Week’s Best & Worst Analyst Calls (WCG, MSFT, NILE, BRCM)
Wall Street analysts get great kudos sometimes, and other times they get the leper treatment. There were many movers this week, and some of these research notes are actually carryovers from the week before.…
Parsons Leaving Time Warner (TWX)
Richard Parsons is due to step down as CEO at Time Warner (TWX) very soon. 24/7 Wall St editor Jon Ogg gives this account at BloggingStocks.
Somebody Made Money On Sirius (SIRI)
Sirius (SIR) has gone from being a market darling to one of the most maligned companies among those that the press follows with any regularity. The conventional wisdom is that the firm needs a…
MEMC Electonic Materials Defies Business Week Implications (WFR)
MEMC Electronic Materials (NYSE:WFR) is trading up sharply on earnings and guidance slightly above most estimates despite seeing shares hit by a Business Week article from the "Inside Wall Street" section today. It notes…
Nintendo: Wii Won’t Cut Prices
Nintendo says there will be no price cuts on its wildly popular Wii game console. And, why should there be. The firm barely has enough manufacturing capacity to keep up with current demand. "We’re…
Trident Microsystems (TRID) Angers The Earnings Spirits
Shares in Trident Microsystems (TRID) are off 30% to $8.65 on week earnings. The provider of digital TV technology for the consumer digital video marketplace, announced for the first fiscal quarter of 2008, ended…
Radiant Systems (RADS) Down Over 20% On Earnings
Radiant Systems (RADS), a leading provider of innovative technology for the hospitality and retail industries, reported total revenues for the third quarter period were $62.5 million, an increase of 9 percent over revenues of…
Pre-Market Earnings Movers (October 26, 2007)
(BEAS) BEA Systems trading down almost 4% ahead of Oracle rejected BEA Systems’ $21 indication.(CFC) Countrywide -$2.85 EPS vs -$1.28 est., but shares indicated up over 10% on writedowns.(COLM) Columbia Sportswear indicated down marginally…
Pre-Market Analyst Calls (October 26, 2007)
ABK cut to Mkt Perform at FBR.ADVNA cut to Mkt Perform at FBR.BBY started as Mkt Perform at Wachovia.BEN cut to Mkt PErform at FBR.BG cut to Neutral at HSBC.CC started as Mkt Perform…
Countrywide (CFC) Saves Itself
Wall St. expected Countrywide Fiancial (CFC) to have an EPS loss of $1.28 on $232 million in revenue. Concerns about earnings have driven the stock to a 52-week low of $13 But, the company…