6:48am ET
Investing
Analyst Downgrades 8/8/2008
Ambac Financial (ABK) Cut To Underweight at JPMorgan. Ann Talor (AMM) Cut to Market Perform at FBR Bank of America (BAC) Cut to Neutral at UBS FEMSA (FMX) Cut to Equal Weight…
WMT Coverage Page 206
4:43am ET
Economy
The New Economic Stimulus Package: $100 Billion In Tax Rebates A Month
Based on GDP figures and June numbers out of retailers including Wal-Mart (WMT), the tax rebate program helped the economy for about 30 days. July retail numbers seem to show that the…
Douglas A. McIntyre 2:53am ET
Media
Media Digest 8/8/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, RBS (RBS) had $1.35 billion loss due to write-downs. Reuters reports that Google (GOOG) says its investment in AOL may be impaired. Reuters writes that Citigroup (C) and Merrill…
6:46am ET
Investing
Wal-Mart (WMT): The “Recession Proof” Theory Leaves The Building
The big theory after Wal-Mart (WMT) announced its June same-store sales was that the company was recession-proof. People were going from higher-priced retailers to Wal-Mart to save money because the economy was…
4:32am ET
Retail
Wal-Mart (WMT) Defends Against The Socialists
Wal-Mart (WMT) defenders of the faith of "every day low pricing" is warning its management and supervisors that if Democrats win the election in the Fall, it will be easier for workers…
Douglas A. McIntyre 2:50am ET
Media
Media Digest 8/1/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, GM (GM) is expected to post a huge loss. Reuters reports that oil company profits rose, but Exxon (XOM) missed its numbers. Reuters reported that stressed banks borrowed a…
12:49pm ET
Retail
Big Retails Which May Close Or Downsize (CC)(BBI)(PIR)(CPWM)
It is now no secret that we are in a very weak economic environment and if it is not an official recession it is for about 80% of the country. We’ve already…
3:46am ET
Investing
Wal-Mart (WMT) Learns China’s Hard Lesson
When the Chinese government pushed its retail union into Wal-Mart (WMT) two years ago, the world’s largest retailer should have figured that it was only the beginning of trouble. Now labor has…
3:02am ET
Media
Media Digest 7/25/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, Microsoft (MSFT) backed its internet spending plan and said it was done with negotiations with Yahoo! (YHOO). Reuters reports that the CFO of Wachovia (WB) is leaving.
7:39am ET
Investing
DJIA Components Post Strong Morning Earnings (T, BA, MCD, PFE, WMT)
This morning we had four different DJIA compomnents report earnings and so far all shares of these are indicated higher. AT&T (NYSE: T) posted $0.76 non-GAAP EPS vs. $0.76 estimates and generated…
7:14am ET
Investing
DJIA Components Post Strong Morning Earnings (T, BA, MCD, PFE, WMT)
This morning we had four different DJIA components report earnings and so far all shares of these are indicated higher. AT&T (NYSE: T) posted $0.76 non-GAAP EPS vs. $0.76 estimates and generated…
7:25am ET
Energy
Oil Hits Record At $146, Chances Of Deep Recession Grow
The price of oil hit $146 today on fears of instability in Iran, Nigeria, and production problems in Brazil. If oil stays at this level, the price of gas is likely to…
Douglas A. McIntyre 6:43am ET
Retail
Wal-Mart (WMT): Huge Jump In US Sales, The Middle Class Feels Poor
Wal-Mart (WMT) officially has back its swagger. Same-store sales at the world’s largest retailer moved up 5.8% in June, well above industry estimates. For the period, revenue jumped almost 12% to $25.2…
Douglas A. McIntyre 4:33am ET
Investing
With China Inflation Above 7%, Rising Costs Move To US
Inflation in China during the month of June was "only" 7.1%. That was slightly better than the two months before, but, according to Reuters, "consumer prices were 7.9 percent higher than a…
Douglas A. McIntyre 2:59am ET
Media
Media Digest 6/25/2008 Reuters, WSJ, NYTimes, FT, Bloomberg
According to Reuters, the Fed is seen as holding rates on fears of inflation. Reuters writes that the CEO of Nissan is bracing for the worst in the US. Reuters writes that…