Washington Mutual (WM) has announced that it will cut its dividend, stop lending to the subprime market, and raise $2.5 billion through a preferred stock offering. The market took that news badly…
Douglas A. McIntyre The November 30 short interest of NYSE traded stocks shows that the market is predicting a further drop in financial and tech stocks. The numbers compare to November 15, 2007. The short…
The federal government and several large mortgage lenders have a plan to freeze loan rates for certain subprime borrowers. The Wall Street Journal writes that ‘The Bush administration and major financial institutions…
Citigroup (C) Report of huge lay-offs. Shares trade below $30 for first time in five years. Drops to $29.75 from 52-week high of $57. Countrywide Financial (CFC) Senator asks for probe of…
Short interest for stocks traded on the NYSE was up about 3% for the period ending November 15 compared to the October 31 numbers. Bets against big financials sky-rocketed, and positions in…
According to Reuters, Goldman Sachs (GS) issued a report saying the housing sector had much further to fall and that some financial institutions would have to raise money to stay in business.…
GENESCO (GCO) Broken buy-out. Down to $29.04 from 52-week high of $54.15. Unisys (UIS) No new news. Old line computer maker working on transformation to services. Down to $5.13 from 52-week high…
Washington Mutual (WM) Mortgage company in bad environment. Down to $19.72 from 52-week high of $46.38. Capital One Financial (COF) Big financial loss. Down to $50.05 from 52-week high of $83.84. Fannie…
AMBAC (ABK) Bond insurance company dropping like a rock on fears that it has huge exposures to CDOs. Down to $21.62 from 52-week high of $96.10. Security Capital Assurance (SCA) Another bond…
Following is the short interest in stocks of major companies traded on the NYSE. Figures are as of October 15 and compare to numbers on September 28, 2007. Most of the large…
After reviewing the 52-week lows today, it was almost the same old trend we have been seeing day in and day out…. Lenders… Banks… Homes… and Consumer…What is obvious is that the…
IMS Health (RX) Bad numbers and a downgrade. Falls to $21.20 from 52-week high of $33.12. The PMI Group (PMI) Housing and mortgage markets hurt quarter. Falls to $22.80 from 52-week high…
Washington Mutual Inc. (NYSE:WM) posted earnings after today’s close, and as you’d expect there was a severe drop compared to 2006. The lender posted earnings per share of $0.23, down from a…
Douglas A. McIntyre We reviewed our different portfolios of key stocks to see which ones performed the best today, and it wasn’t just the financials as a general class. At the end of the day,…
These intra-meeting cuts like the 50-basis point discount rate cut this morning, even if this one is the discount rate rather than the funds rate, do act as stabilizers and you are…
