Sorry, hedgies. Headhunters think you have another 20,000 job losses ahead in 2009, representing a 10% industry contraction. As if it wasn't bad enough that your base salaries were getting hammered. Yet Vikram Pandit shocked with news that Citigroup, Inc. (NYS: C) may run a profit. The question -- for how long? Credit cards, commercial real estate, and many other shoes still dropping. Our Piqqem Sentiment on TARP recipients shows neutral across the board, so could Vik be right, and could it be that the gloom is lifting? Has TARP really been great coverage?
Over in Asia, the markets seem not to have gotten the memo about bank stocks as HSBC Holdings plc (NYS: HBC) continued to plunge due to massive shortselling. The markets loved the Palm, Inc. (NAS: PALM) announcement of a new capital infusion via stock. But some tech watchers were worried that if Palm needed the recap to fund the new Pre smartphone, what would happen if the Pre did not live up to billing? How many bullets does Palm have left? And will it *really* kill the iPhone, as Roger McNamee, head honcho at Elevation Partners, has claimed?
Alex Salkever is Director of Research at Piqqem.com, a stock research and prediction tool powered by Wisdom of Crowds.
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Reader Comments (Page 1 of 1)
3-10-2009 @ 9:00PM
al coholic said...
Cit has about as much credibility as Enron did. The only profits they are making is by forcing loan shark rates on the poor slobs who suffer 20% rates or better on their credit cards for the most trivial of excuses.
But fear not, consumers have long memories. Citi is a crooked company that never should have received our precious tax dollars. The board of directors should be behind bars along with all the executives who received bonuses while they were insolvent.
3-11-2009 @ 9:03AM
jimmyT said...
MDRNA INC(MRNA)WILDEST ROLLER-COASTER RIDE FOR INVESTORS, FOR 26 YEARS STRAIGHT!-UPDATE 03/11/09
RECENT NEWS-MDRNA INC(MRNA) BITTERSWEET STORY-BUT TO ME, JUST ANOTHER NAIL IN THE COFFIN!
After milestone payment from Roche(one time) on new deal/venture, the company borrowed $5 million dollars, adding to their huge debt. ALMOST 30 DAYS LATER, the announcement of De-Listing by NASDAQ happened the other day, and news that they are now paying their rent and vendors by issuance of stock March 9th.
POOR YEAR END EARNINGS REPORT EXPECTED MARCH 17TH...
WITH NO STRONG BALANCE SHEETS AND NO IMPROVED EARNINGS EXPECTED ANY TIME SOON, HOW WILL THIS COMPANY LAST 12 MORE MONTHS?
WELL STRAP UP INVESTORS, HUGE DEBT & BURN RATE PROVIDE EXCITEMENT AFTER
ANY NEWS ANNOUNCEMENTS.
THOUSANDS OF NEWS ANNOUNCEMENTS & THE STOCK IS $.24 CENTS TODAY.
(FROM $20.00 2 YEARS AGO)
3-11-2009 @ 9:07AM
BHarrison said...
As it has been reaily demonstrated, the hedge funds wwere a big part of the market manipulations and corruption based on the "derivatives" frauds and other market frauds. It was all mostly an "illusion" of profits being made off of the fraudlent "paper profits" being generated by market manipulations.
The vast majority of American investors should know by now that we simply do not need these hedge funds that are a BIG part of the market manipulations. Hdege funds manipulate the markets by buying and selling large blocks of stocks. And the hedge fund owners and personnel make excessively exorbitant fees and commissions in all of this . . . whether the hedge fund investors "win or lose".
Most of the hedge funds turned out to be shams anyway. The majority of these hudge funds and their employees need to find some other ways to "earn a living" . . . we are tired of their manipulations and excessive fees and commissions. hedge funds are merely a creation by some to earn enormous incomes for themselves without regard for the "best interests" of the investors.
In my opinion, hedge funds should be outlawed; they mostly only benefit the hedge fund owners and employees. Why would any reasonable and prudent person invest in them?