Mike Cooper
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Wall Street Breakfast: Must-Know Newsby SA Editor Rachael Granby- Bank trio becomes duo. Wells Fargo (WFC) will become the largest U.S. bank by branches with its bid for Wachovia (WB), after Citigroup (C) withdrew from compromise negotiations late yesterday on concerns about the quality of some of Wachovia's assets. Wells Fargo, with a bid valued at $11.4B, expects the purchase to be completed by the end of the year, and denies it will have to absorb assets shakier than originally thought.
- Government considers next steps. As the financial crisis continues to worsen, the U.S. government is considering two dramatic steps to turn around, or at least slow, the damage: guaranteeing billions of dollars in bank debt and temporarily insuring all U.S. bank deposits. The moves, which would mark the government's most extensive intervention to date, are in discussion stages only.
- Credit stays frozen. As frozen credit markets refuse to thaw, the cost of default protection on corporate bonds reaches new global records amid investor concerns the credit crisis will trigger corporate failures as companies struggle to finance their businesses. Interbank lending remains limited, and borrowing from the Fed's expanded discount window continued its trend of setting new highs every week, as the total daily average rose to $420.2B vs. $367.8B last week.
- Oil demand withers. The International Energy Agency warned Friday worldwide oil demand...
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Oil Price- Oil Below $75: Increased Chance of OPEC Production Cuts by Money Morning
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Economy- Long Term, Financials Look Good by Michael Filloon
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Short Ideas- Why Short Sellers Are the Heroes of Wall Street by Investment U
- Salesforce.com: Pricey and Coming Down Fast by Charlie Bottle
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- Jim Cramer's Picks -SampleBetter Choices - Cramer's Lightning Round (10/15/08)by SA Editor Rachael GranbyStocks discussed in the lightning round session of Jim Cramers Mad Money TV program,
Wednesday, October 15.Bullish Calls:Continental Resources (CLR) -- "This is a remarkable decline. All of the high quality ones are down so much, I can't go against it. This is where you pull the trigger.
3M (MMM) -- The moment this stock starts yielding 5%, I'm a buyer. Until then, keep your powder dry.Bearish Calls:Computer Sciences (CSC) -- This is a company that was going to be bought, but they passed up the chance. Now I don't want to buy it."Email continues...
Annaly Mortgage (NLY) -- I think this is a business model that needs to borrow money. Definitively do not buy."
Northrop Grumman (NOC) -- You can't own the defense stocks right now. If I had to own one, I'd look at Lockheed Martin (LMT) with its good dividend. - Stocks & Sectors -SampleSeeking Alpha - Stocks & SectorsInternet
- eBay: Q3 Looks Good but Q4 Guidance Disappoints by Greg Feirman
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- Why Today Could Suck for Tech by Kevin Maney
Media- A Triple Financial Whammy Afflicts Newspapers by Ken Doctor
- Three Years On, Buying MySpace Looks Like One of Murdoch's Smartest Bets by Erick Schonfeld
- How Will Arbitron Fare in This Market? by Sreeni Meka
Telecom- Ten Ways to Invest in Louisiana by Stockerblog
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Financial- Switzerland Strengthens Its Banks; Short Interest Remains Low by Jessica Johnson
- Reality Bites As Stocks Continue To Collapse by The Mole
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- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
- USANA Health Sciences Inc. Q3 2008 Earnings Call Transcript
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India- Indian Economy Has Much to Cheer About by Equitymaster
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- India: Markets Continue Downward by Equitymaster
Japan- Sanyo Enters Thin-Film Market, Goes Up Against Sharp by Greentech Media
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Eastern Europe- Reality Bites As Stocks Continue To Collapse by The Mole
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- Investing in the Power of the Sea
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- Too Early To Buy Homebuilders ETF by Larry MacDonald
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New ETFs- First Trust Launches Infrastructure ETF with Global Reach by Index Universe
- Overview and Analysis of the Global Generic Drug Industry by Mike Havrilla
Emerging Market ETFs- Brazil Is the Best of BRIC by Carl T. Delfeld
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US Market- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
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Housing & Real Estate- Too Early To Buy Homebuilders ETF by Larry MacDonald
- Another 'Root Cause' That Isn't: Tumbling Home Prices by Tim Iacono
Transcripts- TrueBlue, Inc. Q3 2008 Earnings Call Transcript
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Latest Comments13 Comments
Six Flags Is No Bargain Even at a Buck
Six Flags is an eminently cash-profitable enterprise with simply too much debt. If it with does enter bankruptcy it will reemerge debt free and under new management. The only thing about Six Flags that will disappear is the stockholders' money!
ubu_ibi I strongly urge you to take your 401K money out of this stock. Even those who are bullish on this stock must agree that it is a risky investment and no place to put retirement funds.
Six Flags Is No Bargain Even at a Buck
That said, his major critics here are not offering much by way of repost. As an investor I don't care if the current owners are getting a raw deal or if amusing guests day after day is just so hard! (cue violins). Don't know about you but I'm in this for the money. And I don't see any here. The authors figures are right. In a labor intensive industry like amusement parks, $972 million in gross revenue cannot service $2.4 billion in debt. The economy will limit attendence in the short and medium term and there are no rabbits left in this hat.
I haven't heard anyone who has dumped on this author suggest how Six Flags is going to bridge the gap. I would like to.
Bill Gross To 'President' Obama: Double The Deficit
Wireless War: 4G Battle Lines Have Been Drawn
Disclosure: I own a little Alvarion and will own a little more once my tax rebate check comes in.
Palm Girds for a Smartphone Comeback
If they are about to come out with a new phone now, it's going to be a Windows Mobile device. Has anyone else noticed that NO company has ever made a consistent profit off a Windows Mobile device? Such a device would be immediately judged against the Samsung Instinct that just came out; that is against a new device of a new entrant to the market. The iPhone market would barely twitch. Palm, the supposed market veteran, would have to chop its prices below Samsung to stay in the game, and it cannot afford another second tier $99 giveaway eating at its own declining Treo market.
And the new Linux-based platform they are supposed to be creating? Where/What/When is it? Palm is playing that card so close to its chest, that we don't even have a firm date! We're given no details about it which tells me there are no details to give.
Sadly, I believe Palm's window of opportunity has passed. Even a home run at this point would do no good when they have lost the ball park.
Zongshen Power: Potential E-Bike Growth Should Lift Stock
Congressional Insanity: Sue OPEC over Oil Prices
Netflix's Roku is Doomed to Fail
And your belief that customers will pass on Roku when they can simply (theoretically?) stream PC content to their Xbox 360 game console just as soon as they figure out how to hack the Netflix/Microsoft DRM...what the hell was that?? How much money have you got invested in the belief that ANYONE is going to do that??
And your reasoning about "people not wanting more boxes in their living room", stumbles on your strange definition of "people". Maybe the kind of advice your making here actually earns you enough to own a satelitte dish or digital cable (at least you didn't say both!), an Xbox 360, full home theater, TiVo, AppleTV and a stereo system along have a "Media Center PC" doing nothing in an attic (or was it in your home office? I forget...). Unfortunately most "people" don't have the problem of too many $1000.00 + toys cluttering up their living rooms.
Can Icahn Bring Microsoft's Bid for Yahoo Back?
If Ballmer is willing to come to the table at all following Icahn's palace coup it will be with a number that will put Icahn in exactly the same hotseat that Yang is in now!
Apple's $199 iPhone Is a Game-Changer
Why Is Red Hat Abandoning Linux for PCs?
RHAT knows the GUI flavor of the month is Ubuntu. Between Microsoft being dominant, Apple being the best and Ubuntu being fashionable, where is the money here?
YHOO/GOOG Deal Would Be Anti-Competitive - Microsoft
The moral: NEVER trust a commercial business to define the term "fair competition" for you. Just don't bother listening. Ever.
Yahoo Goes Scorched Earth
And there's the rub. Yahoo has got it, but every indication is that Microsoft will lose it if/when it takes over. The IT culture wars, in which Bill Gates plays a 4-eyed Darth Vader, is alive and well there. I can guarantee you, that Yang's maneuvering, however anti-shareholder, is getting rave reviews from the employees.
I forsee Microsoft winning this battle but winding up with a $40+ billion empty shell of a company. How can they not see that?