Misery acquaints a man with strange bedfellows.—Shakespeare, “The Tempest” Auction-rate securities were one of the great inventions of modern banking. By taking long-term bonds and putting them together into a stew, the…
Douglas A. McIntyre According to Reuters, a new tally of votes for the Yahoo! (YHOO) board election shows a high percentage of protest votes. Reuters reports that the Fed held rates steady and indicated it…
HSBC (HBC) is the latest money center bank to be clobbered by more write-downs. For the most recently reported quarter net profit fell to $7.72 billion from $10.9 billion a year earlier…
Douglas A. McIntyre According to Reuters, the Fed will sit tight on rates as oil prices moderate. Reuters writes that Verizon (VZ) labor talks have continued past their dealine. Reuters reports that Chrysler renewed its…
According to Reuters, oil is nearing a 20% drop from its peak, moving into bear market range. Reuters writes that HP (HPQ), Yahoo! (YHOO), and Intel (INTC) are looking at ways to…
In an ironic bit of sloganeering, the current Merrill Lynch (MER) corporate promotion is "Even In Today’s Economy, There Are Smart Places For Your Money." It may not be lost on the…
The national economy has gotten so bad, driven by high commodities prices and a credit crisis which cannot seem to find a bottom, that some of America’s most well-known companies will have…
Citigroup (C) may be looking at another $7 billion in write-offs and will probably have to raise $11 billion in new capital. If Morgan Stanley’s analysis about the big bank is right,…
Douglas A. McIntyre These are some of the top pre-market analyst Upgrades and positive calls we are seeing this Thursday Morning: Air Products (APD) Raised to Overweight at JPMorgan. Citigroup (C’) raised to Equal Weight…
Since 2006, 24/7 Wall St. has scrutinized public companies on a regular basis, focusing on those with poor management and has suggested which big company CEOs needed to be replaced. Hector Ruiz…
The idea of breaking Citigroup (C) into pieces is hardly new. From the day Sandy Weill threw the place together, many analysts could see no benefit to an umbrella company holding everything…
Douglas A. McIntyre According to Reuters, Roche has offered to buy-out Genentech (DNA) for $42.7 billion. Retuers reports that one of Yahoo!’s (YHOO) activist investors has called for a compromise which would put some of…
If Citigroup (C) chairman Win Bischoff is right, then his bank and the US economy are going to be cornered by a deepening recession for the next two years. According to Reuters,…
Douglas A. McIntyre At the start of the year, many Wall St. analysts and much of the media give the impression that the current financial crisis would pull down all large US banks and brokerages.…
Gatehouse Media (GHS) Newspaper company down again. Falls to $1 from $19. Merrill Lynch (MER) More write-off fears. Sells off to $23.64 from 52-week high of $89.23. Citigroup (C) Bad Q2 on…
