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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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...
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, with the exception that the topping process ...
The enormous rise in prices which ended in year 2000 was a Mania, a Stocks Mania. The first move down after the end of the Stocks Mania marked the beginning of a new major trend, a downtrend this time, which has many months – perhaps extending into years - yet to run. That first move down ended with the 2002 lows. The subsequent high which ended in October 2007 was the first bounce in the...
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...
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...
This is the Third Quarter 2008 edition of our ongoing hedge fund tracking series. Before reading this update, make sure you check out the preface to the series we're doing on Hedge Fund 13F's here. Next up, we have John Paulson's Paulson & Co. Paulson & Co. is famous for making a fortune by betting against sub-prime when this whole mess began to unfold. And, it appears as if Paulson is ...