Netflix (NFLX) is in the third day of a severe service outage, the Wall Street Journal reports. The company is having severe technical problems with its shipping system; it sent zero videos on Tuesday, a reduced number on Wednesday, and none today. The company said it does not know the cause of the outage or when it will be fixed. The Journal noted that Netflix has only had one previous similar...
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If there is a single industry that would be in jeopardy today even if the economy turns, it is the newspaper business. Gannett Co. Inc. (NYSE: GCI) is one of the few newspaper and print media operations that isn't hovering near multi-year lows. But that being said, its stock is down almost 60% from its 52-week highs of $49.75 and down over 75% from its highs over the last five years. But the c...
Is the Street under-estimating the power of a coming series of product introductions from Research In Motion (RIMM)? Merrill Lynch’s Vivek Arya thinks that is a distinct possibility. Arya points out in a research note this morning that current estimates are for RIMM shipments to grow from about 6.1 million units in the August quarter to 7 million in the November quarter. But he notes that...
Retail sales fell 0.1% in July, as home values declined, unemployment rose, and consumers cut back on big-ticket spending. The decline was the first drop in five months and followed a 0.3% up-tick in June, the Commerce Department reported yesterday (Wednesday). Sales at dealerships and parts stores were at the forefront of losses dropping 2.4%. Excluding automobiles, retail sales rose 0.4%. Aut...
The British pound fell to a 22-month low yesterday (Wednesday), after the Bank of England (BOE) offered a gloomy outlook for the U.K. economy and the chance of an interest rate cut increased. The pound fell to $1.8656 yesterday – its lowest level since October 2006 – from 1.8968 the day prior. The British currency has fallen 5.4% against the dollar so far this year, and 7.6% against the dollar ...
Tech Opportunities Closer to Ground Greetings once again. I hope you’re having a good week. There are just a few things I’d like to deal with today. One is the persistent pessimism I’m seeing in both the media and the polls. I just looked at Gallup’s daily numbers, and the phenomenon is clear. More than three-quarters of Americans believe we are in some sort of recession. 40% believe their stan...
You know what would be cool? If you could stream Sirius (SIRI) or XM satellite radio on your Apple (AAPL) iPhone. As it happens, Citigroup’s Tony Wible this morning writes in a research note that there are “reports” of a new Internet streaming application that would allow SIRI users to listen on iPhones and other mobile phones. Wible says the idea highlights that SIRI’s ...
Investing Markets began the trading session in negative territory but, rebounded into positive territory during the first hour of trading, for the day. Markets held in the green zone through out the trading session amidst very light trading volume. Trading activity appeared so muted, it seemed as though today was a holiday and the markets remained open, for day traders and investors. Economic d...
Research in Motion (NASDAQ:RIMM): November could be a blow-out quarter for RIM - Merrill Lynch
Thu, Aug 14, 6:27 AM ET
Merrill Lynch is out very positive on Research in Motion (NASDAQ:RIMM) reiterating their Buy rating and $170 PO on RIM, heading into a seasonally strong Sep-Dec period which also coincides with the contract renewal/device upgrade timeframe for the older Blackberry 8700 and Blackberry Pearl customers. Firm believes street expectations are low – especially for the November quarter that could feat...
I am providing the Thursday, August 14 edition of the Market Speculator Trade Report today for blog readers to sample. http://docs.google.com/View?docid=d5z8q8w_102d23q5jfm If you are interested in subscribing to the Trade Report, click here for more information.