The recession officially began this past January, NBER tells us. With that out of the way, we can now focus on the burning question: When will it end?There are many clues for pondering the timing of the business cycle. Calling the turning point in advance is never easy, and in fact it's quite a bit harder these days. The magnitude of the economic and financial ills is to blame. In a perfect sto...
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Options traders have descended on the smart phone sector Tuesday, with heavy activity in Research in Motion, Nokia and Palm, following poor earnings by the latter, and news of an introduction of Nokia’s entrée into this market. Research in Motion’s options were the most actively traded. The stock was getting hit, down 7.5% after Palm reported less-than-stellar results for its most r...
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...
The market action Monday was pathetic. I am usually not so blunt, but there is no other way to sugar coat it. Most people want to know "what happened?" But there was no real smoking gun. It was a pure buyers strike.Stocks plummeted on relatively low volume. And if you don't believe me about the buyers strike, take a look at the ARMS Index (a measure of buying vs. selling pressure), wh...
Yahoo! (YHOO) has become a "rumor an hour" company. Over the weekend, the Times of London said the portal had a deal with Microsoft (MSFT) for its search business. As part of that arrangement former AOL CEO would be brought in as the new chief. AllThingsDigital wrote that the Times piece was junk. Several times a day there are bits of news about who will replace Jerry Yang as Yahoo! CEO and whe...
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. ...
CHICAGO (Reuters) - Delta Air Lines , which bought a rival carrier, downsized and cut 2,000 jobs this year, said on Tuesday it would trim 6 percent to 8 percent of its capacity in 2009 as travel demand wanes.
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...
A little bit of common sense could have prevented tremendous financial heartache.