TPM Muckraker reports about possible conflicts of inflict in TARP administration. Imagine!Highlights:The department has hired outside private contractors to administer parts of the bailout program, notes GAO. In their responses to Treasury's requirements, six of the eight service providers selected as of November 25, 2008, identified potential or actual sources of conflict. According to our rev...
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Closing Bell: Markets bounce after yesterday's sell-off; BA, F, GE, DOW all up, GS down
Tue, Dec 2, 4:22 PM ET
Filed under: After the bell, General Electric (GE), Ford Motor (F), Market matters, Boeing Co (BA), Goldman Sachs Group (GS), Dow Chemical (DOW)Equities managed a comeback after yesterday's huge sell-off. Today was on little economic data, but "less bad" data from companies helped as well as overseas markets stabilizing before U.S. traders woke up this morning. We also did not see the continued...
The skyrocketing value of commodities sliced into profits at many a corporation in early 2008, as companies suddenly found raw materials costs had doubled or tripled. But anyone who responded to that by trying to hedge against a repeat of that is going to be hit again — this time on the way down. Already, several major corporations have taken hedging-related losses in the third quarter as...
Given the sharp moves we've seen in the US Treasury market over the last several days, we updated our trading range charts of major international 10-year government bond yields. In each chart the blue shading represents 2 standard deviations above and below the yield's 50-day moving average. As shown below, the sharp declines have not been confined to just the US. In five of the six countries/r...
The market for DRAM chips continues to collapse, making life rough for Micron Technology (MU) and other memory chip companies. According to DRAMeXchange.com, spot market prices for DRAM chips last week fell between 5% and 15%, depending on specific configuration, to new historic lows. For DDR2 1Gb chips, the price last week dropped to 68 cents, from 80 cents, with a 34% drop in November. For DD...
Citigroup, Inc. (NYSE: C) is still in a pinch despite more than a 100% bounce from recent lows, and its still-relatively new CEO is caught right in the middle of a storm he might not escape. This call comes with some mixed emotions because what is obvious is that Vikram Pandit has been trying to make this horrible banking year and this horrible environment as painless for the company's employe...
Filed under: Newsletters, Stocks to BuyJack Adamo has been a bull on U.S. Bancorp (NYSE: USB) and is now recommending doubling the position that he holds in his model portfolio. Here's the latest from his Insiders Plus newsletter. "US Bancorp is accepting $6.6 billion in new capital from the TARP program. Tier One capital will rise from 8.5% to 11.4% as a result of the new deal. "The company wi...
Buy, Sell or Hold Insight: GM Remains a High Risk Profit Play – Even as it Files its Turnaround Plan Today
Tue, Dec 2, 11:31 AM ET
With America’s “Big Three” automakers all due to submit turnaround plans to Congress today (Tuesday) – a requirement if General Motor Corp. (GM), Ford Motor Co. (F), and Chrysler Corp., are to receive $25 billion in government loans – I couldn’t help but recall the moment eight years ago when I realized the U.S. auto industry was skidding toward a financial c...
Sears Holdings, already struggling with declining sales and traffic in the face of rising competition, swings to a wider-than-expected third-quarter loss after the downturn in the U.S. economy hurts demand at both its Kmart and Sears chains.
Adam Hewison released a video yesterday regarding Monday’s bearish move and where it occurred in context and what it might mean for the broader market - it’s definitely worth viewing to see his views and price projections. Entitled “The Dow Crash,” though it isn’t as tragic as it sounds, Hewison takes us through line, bar, and candle charts on the Daily and Weekly ...