The worst part of the recession cycle is beginning. News from several big sectors like retail, housing, and automotive has already turned bad. In the last two days, Sprint (S) and GM…
After Citigroup (C) and Merrill Lynch (MER) have announced their earnings, Wall St. will probably see what it expected. The estimates for write-offs, lay-offs, and new capital infusions are already out there.…
According to Reuters, the National Retail Federation and its members are preparing for a slow year. Reuters writes that the FCC has cleared Google (GOOG) to bid in the upcoming auction of…
According to The Wall Street Journal Citigroup (C) is "expected to announce a sizable dividend cut, cash infusion of at least $10 billion and write-down of as much as $20 billion in…
Douglas A. McIntyre Citigroup (NYSE: C) is set to report earnings tomorrow morning. While this will be the first of the big money center banks and financial conglomerates to officially report earnings, the actual earnings…
Douglas A. McIntyre Late word is that the China Development Bank may pass on putting $2 billion into Citigroup (C) as was planned. According to The Wall Street Journal the Chinese government may be blocking…
CNBC reported that Citigroup (C) could have a $24 billion write-off. The source for that report is not clear. Last week, Goldman Sachs said Citi might have to take a charge of…
According to Reuters, CNBC is reporting that Citigroup (C) could write-down $24 billion. Reuters writes that automakers face big hurdles in 2008. Reuters reports that the $200 billion Kuwait Investment Authority had…
The Wall Street Journal writes that Prince Alwaleed bin Talal and the China Development Bank as putting money into Citigroup (C), The CDB will probably contribution $2 billion. Over at the FT,…
Douglas A. McIntyre Perhaps Warrent Buffett was asked and perhaps he was not, but Citigroup (C) ended the week with more money in its checking account. According to The Wall Street Journal "Prince Alwaleed bin…
Douglas A. McIntyre Merrill may have to write off another $15 billion for Q4. If the Fed and Treasury want to do something for banks, mortgage companies, and investment houses, they can stop lending them…
Douglas A. McIntyre Citigroup (C) is in the market for another $10 billion. Merrill Lynch (MER) is looking for $3 billion to $4 billion. The subprime mess has gotten the better of them and they…
Douglas A. McIntyre Short interest of stocks listed on the NYSE as of December 31 showed that retailers and financial companies had sharp increases when compared to the figures on December 14. Shares sold short…
According to Reuters, Capital One has warned that it will have lower than expected earnings. Reuters reports that Goldman Sachs (GS) sees a recession this year. Reuters reports that Tata (TTM) has…
Countrywide Financial (CFC) Chapter 11 rumors, Denial does not help. Drops to $5.05 from 52-week high of $45.26. MBIA (MBI) Still plenty of panic left in the bond insurance world. Sells off…