Posted Jun 30th 2009 4:00PM by Jon Ogg
Filed under: After the bell, General Electric (GE), Market matters, Broadcom Corp'A' (BRCM)

This morning's trading was looking solid enough and had enough overseas support with gains in Europe that it seemed as though we were going to have a rock solid end to one of the best performing quarters in years.
The Russell trade and the quarter-end failed to help. A
quiet ISM-prelude from Chicago Purchasing Managers was one thing, but a weak consumer confidence took the wind out of the sails of the bulls. The good news is that shares managed to close off their lows, but it still wasn't an up day. Here were today's unofficial closing bell levels:
Dow 8,448.06 -81.32 (-0.95%)
S&P 500 919.47 -7.76 (-0.84%)
Nasdaq 1,835.04 -9.02 (-0.49%)
Top Analyst UpgradesTop Analyst DowngradesContinue reading Closing Bell: The great day that could have been... (APOL, BRCM, ELX, GE, GERN, VICL)
Posted Jun 25th 2009 8:00AM by Alex Salkever
Filed under: After the bell, Earnings reports, Tiffany and Co (TIF), NIKE, Inc'B' (NKE), Abercrombie and Fitch (ANF), Recession
Nike (NYSE: NKE) has thus far navigated this downturn exquisitely. It has maintained sales overseas, in particular in Asia. Nike's legendary supply-chain mastery and inventory management skills have likewise served it very well. So it was a shock when the shoe giant announced Wednesday that future orders had dropped by 12%, according to Bloomberg. Bummed out investors bid down Nike share's by nearly 5% in after-hours trading.
Granted, Nike faced difficult comps. During the Beijing Olympic Games last summer Nike togs were selling like hotcakes around the globe. And a chunk of the reduction in order value came due to currency fluctuations. But it's hard to deny that this quarterly earnings announcement was a bleak reminder that the "green shoots" may be more of a Washington creation than a reality in the global economy.
Continue reading Shoe drops on Nike
Posted May 14th 2009 8:40AM by Mark Fightmaster
Filed under: After the bell, Law, JPMorgan Chase (JPM), Bank of America (BAC), Morgan Stanley (MS), MBIA Inc (MBI)
In yesterday's online edition of The Wall Street Journal, it was reported that MBIA (NYSE: MBI) is facing lawsuits from a group of 18 different financial institutions. The lawsuit was filed in New York State court and includes the likes of J.P. Morgan Chase (NYSE: JPM), Bank of America (NYSE: BAC), Morgan Stanley (NYSE: MS), and UBS (NYSE: UBS).
These banks are claiming that the way MBIA split its municipal bond insurance business earlier this year was "an unlawful attempt to escape" its contractual obligations to cover losses from mortgage securities. In addition to the split earlier this year, MBIA shifted $5 billion to a municipal bond insurance company.
Continue reading MBIA sued by other banks for splitting units
Posted May 5th 2009 9:45AM by Beth Gaston Moon
Filed under: After the bell, Major movement, Earnings reports
MGM Mirage (NYSE:
MGM) showed its hand in the earnings confessional Monday night after the close. The gaming firm
banked 38 cents per share, or $105.2 million, compared with year-ago results of 40 cents ($118.3 million). Net revenue was down 20% to $1.5 billion.
Excluding gains related to the sale of Treasure Island resort, the company lost six cents per share, falling short of analysts' estimates. MGM CEO and Chairman Jim Murren told investors in a conference call that while
room rates are "firming" and overall demand seems improved, "[MGM] is not out of the woods yet by any stretch in this market ... at least [visitors] have got their wallets in their pockets [now] and they're spending a little more."
Continue reading MGM Mirage banks earnings thanks to Treasure Island sale
Posted Apr 30th 2009 4:00PM by Douglas McIntyre
Filed under: After the bell, General Motors (GM), Exxon Mobil (XOM), Bank of America (BAC), Economic data, S and P 500, DJIA, NASDAQ

Two pieces of positive news hit the wire early in the day. First time filings for state unemployment benefits fell slightly, If that number continues to drop over the next few weeks, the rate at which people are losing jobs may actually have stabilized. Adding to the sense of optimism, the Chicago purchasing managers index rose from 31.4 in March to 40.1 in April: an extraordinary jump.
Here are the unofficial closing numbers:
Dow 8,169.00 -16.73 (-0.20%)
S&P 500 872.42 -1.22 (-0.14%)
Nasdaq 1,715.10 +3.16 (0.18%)
Continue reading Closing bell: big news brings no market movement
Posted Apr 22nd 2009 5:45PM by Michael Fowlkes
Filed under: After the bell, Major movement, Earnings reports, Good news, Products and services, Competitive strategy, eBay (EBAY), Technology, Recession

Shares of the popular internet auction site
eBay, Inc. (NASDAQ:
EBAY) are moving strongly higher today following its first quarter earnings numbers that came in well
above analyst estimates.
As we discussed in our earnings preview, we knew that it was going to be
a tough quarter for the company, which had sales drop in the face of declining consumer sales. Despite this, the company was able to post first quarter earnings of 39 cents per share, which is handily above the 32 cents per share that analysts were expecting to see. It earned 42 cents per share during the same period last year.
Continue reading eBay jumps following first quarter earnings
Posted Apr 3rd 2009 4:00PM by Douglas McIntyre
Filed under: After the bell, Major movement, Walt Disney (DIS), Blockbuster Inc 'A' (BBI), Research in Motion (RIMM), Sun Microsystems (JAVA), S and P 500, DJIA, NASDAQ
In any normal universe, the market would have collapsed on news that unemployment went to 8.5%. To make matters worse, it is obviously going much higher.
The market shrugged all of that off and went nowhere. Most financial stocks were up. A number of tech and telecom stocks were down. Whatever bump the G-20 gave the market seems to have dissipated in a day.
The numbers:
DJIA:Dow 8,017.59 +39.51 (0.50%)
S&P 500 842.47 +8.09 (0.97%)
Nasdaq 1,621.87 +19.24 (1.20%)
Analyst upgrades
Analyst downgrades
Continue reading Closing bell: no reaction to jobs report (JAVA, RIMM, BBI, DIS)
Posted Mar 26th 2009 4:05PM by Douglas McIntyre
Filed under: After the bell, Apple Inc (AAPL), Intel (INTC), Citigroup Inc. (C), New York Times'A' (NYT), S and P 500, DJIA, NASDAQ
After being down 25% for the year in early March, the NASDAQ is back to even for 2009. It is an extraordinary rally which shows that tech can still dig the market out of a funk. The fact that shares in companies like Intel Corporation (NASDAQ: INTC) and Apple, Inc. (NASDAQ: AAPL) are up for the year helps.
For the day:
Dow 7,908.55 +158.74 (2.05%)
S&P 500 832.72 +18.84 (2.31%)
Nasdaq 1,587.00 +58.05 (3.80%)
Continue reading Closing bell: another rally and Nasdaq gets back its 2009 losses (AAPL, INTC, C, WPO, NYT, JASO)
Posted Mar 24th 2009 12:00PM by Elizabeth Harrow
Filed under: After the bell, Major movement, Earnings reports, Forecasts, Options
Athens-based shipping issue DryShips Inc. (NASDAQ: DRYS) announced Monday that it will release its fourth-quarter and fiscal 2008 earnings results after the close of trading in New York today, March 24. Ahead of the report, buy-to-open call volume has been consistently heavy on the beaten-down stock.
During the past five days, traders on the International Securities Exchange (ISE) have bought to open 30,875 calls on DRYS, compared to jut 9,697 puts. In other words, bullish bets have been three times more popular than their bearish counterparts.
Continue reading Call volume is heavy on DryShips Inc. ahead of 4Q earnings
Posted Mar 20th 2009 4:10PM by Douglas McIntyre
Filed under: After the bell, General Motors (GM), Expedia Inc (EXPE), Amer Intl Group (AIG), Xerox Corp (XRX), S and P 500, DJIA, NASDAQ
After days of rallying, the market decided that bank stocks had gone much too far. With no first quarter earnings out, the fact is that the current quarter could still be tough. Financial shares could still reset lower. The market reacted accordingly.
The unofficial numbers for the day broke out like this:
Dow 7,278.38 -122.42 (-1.65%)
S&P 500 768.54 -15.50 (-1.98%)
Nasdaq 1,457.27 -26.21 (-1.77%)
TOP ANALYST CALLS
Continue reading Closing bell: End of bank rally brings the show down (AIG, EXPE, GM, MGM, XRX)
Posted Mar 16th 2009 5:50PM by Douglas S. Roberts
Filed under: After the bell, Deals, Bad news, Law, Rants and raves, Employees, Scandals, Money and Finance Today, Amer Intl Group (AIG), Politics, Headline news, Federal Reserve, Recession, Financial Crisis
In my previous post on the Financial Stability plan presented by the Obama administration, I mentioned the dangers involved with dealing with some of the sharpest players on Wall Street. I used the analogy of not knowing who the sucker is when you sit down at the poker table because it turns out to be you!
It turns out that the taxpayer bailout money was used to pay bonuses of about $450 million to a small group of employees at the business unit that lost $40.5 billion last year at AIG and caused the crisis in the first place. Apparently, this appears to be a contractual obligation of AIG which cannot be abrogated.
Continue reading Bonuses in the AIG poker game: We stole it fair and square
Posted Mar 6th 2009 4:00PM by Douglas McIntyre
Filed under: After the bell, General Motors (GM), Sirius Satellite Radio (SIRI), Whole Foods Market (WFMI), Genentech Inc (DNA), Economic data, Wells Fargo (WFC), S and P 500, DJIA, NASDAQ
Today was one of those strange Friday sessions where you just never felt stable. Interestingly enough, the 8.1% unemployment rate ended up moving the market up briefly, but only briefly. Most of the day was spent in red numbers with a rally that brought the markets back to a flat close.
The focus is still on what is coming out of Washington D.C. and just how long and how deep this recession is going to be.
Here are today's unofficial closing bell levels:
Dow 6,626.94 +32.50 (+0.49%)
S&P 500 683.39 +0.84 (+0.12%)
Nasdaq 1,293.85 -5.74 (-0.44%)
Top Analyst Calls
Continue reading Closing Bell: Traders fear D.C. more than massive unemployment (GME, DNA, GM, SIRI, WFC, WFMI)
Posted Feb 24th 2009 6:20PM by Michael Fowlkes
Filed under: After the bell, Major movement, Earnings reports, Forecasts, Bad news, Recession, Financial Crisis

This afternoon,
Wynn Resorts (NASDAQ:
WYNN) had its turn in the earnings lineup, and the company
failed to meet analyst estimates for the quarter, and is being punished in after hours trading as a result.
Going into this afternoon's earnings announcement, analysts had been hoping to see the company show earnings of $0.44 per share on revenues of $703.53 million. Adjusted earnings for the quarter were far below this, with a reported $0.07 cents per share on only $614.3 million in revenues.
Continue reading Wynn Resorts craps out on its fourth quarter numbers
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