Today’s tickers: RIMM, BP, NXY, MMM, USB, WFC, GS & GE RIMM – Research in Motion – Terrible results from fellow-handset maker, Palm clouded the prospects for RIMM as well as the mobile phone industry sending shares of the Canadian manufacturer of the Blackberry device 7% lower to $37.02. The company recently faced delays in shipping its novel Blackberry Storm, but news tha...
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Today is the day the auto makers turn in their homework. Last time they showed up in Congress they got an "unprepared" grade and were told to get their acts together and come back when they had aplan. I think perhaps Congress got the market message yesterday that, plan or no plan, they’d better be writing a check to the auto industry today. Sadly, a government checkbook is the o...
Today’s tickers: MNT, MMM, LEG, F, C, GE, MS & BAC MNT – Mentor Corp. – Shares in breast implant manufacturer, Mentor Corp. surged as much as 90% Monday to $30.57 following a bid for the company by Johnson & Johnson to enter the prosthetic market. Open interest, which measures option investors’ positions on a stock stands at only 16,077 contracts, which is why Mo...
Round and round the markets go, where they stop - no one knows! I’m feeling really good about our decision to lean more bearish into the weekend, as summarized in the wrap-up. While nothing bad happened, noting particularly good happened either.In our roller coaster market model, the absence of stimulus (usually in the form of government money) can only lead to gravity taking it’s t...
Hello Phil’s Stock World. I’m posting a weekend article on the main page for our weekend readers. Please ignore the 48-hr. box and if you do not see the full article, go to the original source, Financial Armageddon, here. I hope everyone had a terrific Thanksgiving and is enjoying the weekend! - Ilene In this article, Michael Panzner at Financial Armageddondiscusses the effects of t...
Well, what’s to be said? It was the best week in the markets since 1933 - the only question is: Was it real? The fact that the market did not stop going up despite a terror attack in India made us think not and at 12:32 on Friday, with the Dow at 8,760, I decided it would be a good time to take the DIA puts and DXD calls to cover, leaving us 50/50 into the weekend as it was just hard to b...
Today’s tickers: C, GM, F, CHK, GE, CSCO & AEM C – Citigroup Inc. – There appears to be greater sense of confidence these days about the survival of Citigroup now that the government has ring-fenced more than $300 billion of its toxic mortgage debt. Shares jumped 11.4% to $7.82 and option traders kept it the most active equity option contract in light trading on Friday. De...
Black Friday for retailersis the day thatsales traditionally putretailers in the black for the year (not going to happen this year of course). It is often, but not always, the busiest shopping day of the year and, at 6am this morning, WMT’s server crashed from the traffic so we’re off to a good start as shoppers, no matter how depressed, start thinking about Christmas shopping - oft...
Just a quick note for the day as I’m off with family. Yesterday was great and we ended up 60:40 bullish as we held our levels (surprising all of us) and we have more evidence that the rally is real as international markets are up across the board despite a terrible terrorist attack in India (that market is closed today for the emergency) that has left 100 people dead and hundreds more inj...
Breakdown of BCE buy-out sends shares reeling, but optimistic call buyers remain
Wed, Nov 26, 1:17 PM ET
Today’s tickers: BCE, DE, BA, FLR, SGR & JPM BCE – BCE Inc. – Accountants working behind the scenes at BCE told the management group behind the world’s biggest ever leveraged buyout proposal that post-buyout its debt level would fail to adequately meet solvency tests. Shares recoiled some 37% to $19.48. Options activity at BCE has appeared regularly on our market sca...