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...
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Yahoo: Cowen Has Serious Doubts On Miller-Led Bid; Raising $30 Billion Would be “Extremely Difficult”
Tue, Dec 2, 3:12 PM ET
Semiconductor companies are planning sharp production cuts for both Q4 2008 and Q1 2009, according to a report today by Craig Berger, chip analyst at Friedman Billings Ramsey. He says that PC chip firms are seeing “significant production weakness,” as are communications IC producers - and that semiconductor companies are adjusting their own output accordingly. Here’s a rundown...
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...
Consider the following lovely chart (via Barry, via Financial Philosopher). It's cute, and helpful-ish, but it also points to one of the problems with all the current chatter about how long the average recession runs. Scan it first, and my commentary follows.
Well, here’s a new twist to the Yahoo (YHOO) saga. According to the Wall Street Journal, former AOL chief Jonathan Miller is trying to raise money to buy all or part of the company. The story is sourced to “people familiar with the matter.” The story says Miller has been talking to private equity investors and sovereign wealth funds for months trying to come up the money for a...
Filed under: Law, Wal-Mart (WMT), EmployeesYou knew it would happen. When a company as controversial as Wal-Mart (NYSE: WMT) has one of its employees killed in a Black Friday melee, it's only a matter of time before the company starts getting the blame.Long Island police and a lawyer hired by the deceased worker's family have concluded that the company should have had better crowd control."Hund...
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...
J.P. Morgan analyst Paul Coster today trimmed his profit forecasts for Research In Motion (RIMM) to reflect his view that “consumer and enterprise sales will be slower than originally forecast, owing to a global economic downturn.” Nonetheless, he says the stock is still too cheap, and repeats his Overweight rating. Coster still sees the company posting results for the fiscal third ...
Clearwire (CLWRD) shares are down sharply following negative comments on the company this morning from analysts at J.P. Morgan and Stanford Group. The company’s shares gained ground yesterday following the completion of its deal to acquire Sprint’s Xohm wireless broadband business; they also closed a $3.2 billion investment from Google, Comcast, Time Warner Cable, Intel and others. ...
Filed under: Forecasts, Recession, Financial CrisisA good rule for a forward-thinking executive to observe is never go anywhere -- at least don't walk into any meeting -- without the latest projections or models for the U.S. economy for the year ahead. How's the U.S. economy likely to perform in the year ahead? Well, here are the summaries of economist David H. Wang's models based on predetermi...