Lee Scott Out At Wal-Mart (WMT)
Wal-Mart Stores Inc. (NYSE: WMT) is doing what we believe they should have done two-years ago. The board of directors has elected Mike Duke to replace Lee Scott as President & CEO of Wal-Mart. The effective instance is February 1, 2009.The board plus promoted Eduardo Castro-Wright …
The Black Friday Ten: Retailers Who May Not See 2009 (BONT)(DDS)(TLB)(PIR)(CPWM)(WSM)(CHS)(SKS)(EBHI)(RDA)
A year ago, not many folks would have thought Circuit City would be in bankruptcy now. Linens ‘n Things, Mervyn’s, Whitehall Jewelers and Steve & Barry’s have shut down or are closing huge numbers of locations since they moved into Chapter 11.
The most astonishing fact about the retail industr…
A Takeover in the Oil & Gas Minis (ROYL, ASPN)
Now that is how it’s supposed to work. Royale Energy (NASDAQ:ROYL) has initiated an exchange offer for up to 55% of the outstanding shares of an OTC bulletin board energy company called Aspen Energy (OTC.BB:ASPN). There are about 7.26 million shares of Aspen stock outstanding, so Royale is looking…
Not Much Sunshine in Canada Either (CSIQ)
Canadian solar panel maker Canadian Solar Inc. (NASDAQ:CSIQ) reported earnings that AM before the market opened. Revenue for the third quarter was $252.4 million, higher than expectations of $248 million. Analysts expected EPS of $0.54, and instead got EPS of $0.31. The EPS included a foreign exch…
Goldman Sachs (GS) Sees 9% Unemployment And 5% GDP Contaction
A Pre-Packaged Bankruptcy For GM (GM)? Begging For A UAW Strike
Bloomberg is reporting that the new administration may push for a pre-packed bankruptcy for GM (GM).
“President-Elect Barack Obama’s transition team is exploring a swift, prepackaged bankruptcy for automakers as a possible solution to the industry’s financial crisis, according to a person fa…
Top Pre-Market Analyst Upgrades (ARMH, BMRN, CYBX, FFIV, GPS, JNPR, LTD, MSFT, MYGN, NVTL, CRM)
These are the top pre-market analyst upgrades and positive calls we are seeing from Wall Street firms that Friday with more than two hours until the open.
Arm Holdings (ARMH) Raised to Buy at Goldman Sachs.
Biomarin Pharma (BMRN) Raised to Buy at Citigroup.
Cyberonics (CYBX) Raised to Buy at Pi…
Top Pre-Market Analyst Downgrades (ADSK, BEAV, CPSI, DELL, GPRO, GR, GOOG, JASO, CSIQ, ORCL, SPR, STP, VMW)
These are the top analyst downgrades and negative analyst calls we are seeing that Friday dawn:
Autodesk (ADSK) Cut to Neutral at Baird.
BE Aerospace (BEAV) Cut To Market Perform at FBR.
Computer Programs & Systems (CPSI) Cut to Market Perform at William Blair.
Dell (DELL) Cut to M…
Top Pre-Market Analyst Downgrades (ADSK, BEAV, CPSI, DELL, GPRO, GR, GOOG, JASO, CSIQ, ORCL, SPR, STP)
Autodesk (ADSK) Cut to Neutral at Baird.
BE Aerospace (BEAV) Cut To Market Perform at FBR.
Computer Programs & Systems (CPSI) Cut to Market Perform at William Blair.
Dell (DELL) Cut to Mar…
Verizon (VZ) Gets It Own Apple (AAPL) iPhone
It must vex the Verizon (VZ) management that AT&T (T) has the nifty Apple (AAPL) iPhone and all the publicity and surging handset sales that go with it. AT&T even benefits when society who cannot afford the smartphone stop into its shops and leave with something cheaper.
Now Verizon will …
Rallying Back From The Depths Of Hell
The market has to rally something, and that is as good as any. The DJIA has fallen from 13,850 less than a year ago to 7,552. The concept that Citigroup (C) may be for sale could take its potential failure off the table. Congress appears ready to capitulate and give car companies money that they can…
Farmers Face Down Deflation As Tractors Get Rusty
Farmers are supposed to be frugal and that characteristic may serve them well. After getting fat and happy off high agricultural goods prices, they get to be on the poor end of commodities deflation.
It is just their luck that as they are bringing in record crops, buying additional seed, plantin…
As Corporate IT Spending Drop Apple (AAPL) And RIM (RIMM) Hold On
Corporate IT spending has driven off a cliff. No one should be surprised. The recession has cut into corporate revenue. Many companies are faced with cutting society or upgrading hardware and other services.
Most firms will elect to keep personnel, whether they can, and dump plan for new electron…
As New York Times (NYT) Cuts Dividend, Rupert Murdoch Sits In The Wings
The New York Times Company (NYT) announced that it was cutting its dividend by 74% to $.06. That came after its revealed that its October advertising revenue fell by 16%. World Wide Web sales were only up in the singled-out digits. The firm’s New England newspapers, including The Boston Globe. lost…
