General Motors Inc. is sort of the anti-Ross Perot, the company that informs you that no matter what the circumstance, it still needs a boatload of money just to make getting up in the morning worth it. The automotive giant (ish) asked for $18 billion in federal loans, one-and-a-half times the size of what it asked for a few weeks ago, amid a 41% decline in auto sales in November. But the thin...
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OmniVision (OVTI) this afternoon warned that results for its fiscal third quarter ending in January will be much lower than the Street had been anticipating. For FY Q2, the image sensor company posted revenue of $163.9 million and non-GAAP profits of 19 cents a share, close to the Street consensus of $166.4 million and 18 cents. But the guidance, oh my. OmniVision now sees revenue for the Janua...
Yahoo: Cowen Has Serious Doubts On Miller-Led Bid; Raising $30 Billion Would be “Extremely Difficult”
Tue, Dec 2, 3:12 PM ET
Cowen’s Jim Friedland this afternoon has weighed in on the WSJ report that former AOL exec Jonathan Miller is trying to raise cash for a bid for Yahoo, and finds the proposition to be something of a long shot. In a brief research note, he raises two key issues: Capital: He says it would be “extremely difficult” to raise the $28 billion to $31 billion that would be needed to cl...
Filed under: Delta Air Lines (DAL)Delta may still be ready when you are, but in 2009 they're not going to be as big. Citing the global recession, Delta (NYSE: DAL) announced that it will cut an additional 6-8% of capacity in 2009. The move will result in an up to 10% reduction in domestic capacity, when one includes the impact of previously-announced operational cuts. Delta also said it will el...
Closing Bell: What does Phil LeBeau call "the biggest question" about the Big 3's "Show and Tell Time"?
Tue, Dec 2, 3:02 PM ET
Question: What does Phil LeBeau call "the biggest question" about the Big 3's "Show and Tell Time"? Answer: Is $25 billion enough?
Two days before the chief executives of Detroit’s Big Three - General Motors Corp. (GM), Ford Motor Co. (F), and Chrysler Corp. - march back to Capitol Hill to again petition Congress for a $25 billion bailout, details about each company’s plan to scale back operations are emerging. Each CEO - GM’s Richard Wagoner, Ford Chief Executive Alan Mulally and Chrysler’s Robert ...
A reader recently asked me to give a look at the German DAX Index in terms of a possible Elliott Wave Count to see how it related to the US Equity Indexes. Here is my preferred count on the DAX Index on both the Weekly and then zooming in on the fractal Daily Count: German DAX Weekly: The DAX Elliott count is very similar to that of the S&P 500 (^GSPC), with the exception that the topping ...
MERCEDES-BENZ (DAI): REPORTS US NOV SALES -30% Hyundai (HYMLF.PK): REPORTS US NOV SALES -40% Y/Y MAZDA: REPORTS US NOV SALES -31.3% Y/Y GM (GM): REPORTS NOV VEHICLE SALES -41.3% V -33%E BMW: REPORTS US NOV SALES -36.1% HONDA (HMC): REPORTS NOVEMBER US SALES -31.6% CHRYSLER: REPORTS NOV SALES -30% Y/Y PORSCHE: REPORTS US NOV SALES 1,378 V 2,662; -49% Y/Y FORD (F): REPORTS NOV SALES -30.6% V -32%...
According to WSJ, former AOL (TWX) Chief Executive Jonathan Miller is trying to raise money to buy part or all of Yahoo (YHOO). Miller, who runs venture capital fund Velocity Interactive Group with partner Ross Levinsohn, the former president of Fox Interactive Media (NWS), has discussed the idea with Yahoo board members, and believes that a deal in the range of $20 to $22 a share is possible. ...