BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Nortel files for Chapter 11 bankruptcy protection]]>http://www.bloggingstocks.com/2009/01/14/nortel-files-for-chapter-11-bankruptcy-protection/http://www.bloggingstocks.com/2009/01/14/nortel-files-for-chapter-11-bankruptcy-protection/http://www.bloggingstocks.com/2009/01/14/nortel-files-for-chapter-11-bankruptcy-protection/#commentsFiled under: , , ,

Nortel Networks Inc. (NYSE: NT), which has been floundering for years, put itself out of its misery today by filing for Chapter 11 bankruptcy protection.

According to court papers filed in U.S. Bankruptcy Court in Delaware, the Canadian telecom equipment maker owes bondholders $3.8 billion and was facing $107 million in interest payments this week. The company already was facing de-listing from the New York Stock Exchange. It has a $2.4 billion cash position.

Amidst all of the usual hopeful spin in the company's press release was this telling sentence: "The company commenced a process to turn around and transform Nortel in late 2005, and the company made important progress on a number of fronts."

That's right folks, Nortel has been in a turnaround since 2005. Then again, Nortel is not a typical company. Former Chief Executive Michael Dunn, former Chief Financial Officer Douglas Beatty and former Controller Michael Gollolgy are facing charges in Canada for manipulating earnings in the early part of the decade. Shares of Nortel hit $900 on a split-adjusted basis in 2000.

Continue reading Nortel files for Chapter 11 bankruptcy protection

Nortel files for Chapter 11 bankruptcy protection originally appeared on BloggingStocks on Wed, 14 Jan 2009 09:48:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bankruptcyfeaturedMike Zafirovski.MikeZafirovski.nortelNTTelecomtelecom stocksTelecomStocksWed, 14 Jan 2009 09:48:00 EST<![CDATA[Sirius XM shareholders OK reverse stock split -- it's not going to help]]>http://www.bloggingstocks.com/2008/12/19/sirius-xm-shareholders-ok-reverse-stock-split-its-not-going/http://www.bloggingstocks.com/2008/12/19/sirius-xm-shareholders-ok-reverse-stock-split-its-not-going/http://www.bloggingstocks.com/2008/12/19/sirius-xm-shareholders-ok-reverse-stock-split-its-not-going/#commentsFiled under: ,

Sirius XM Radio (NASDAQ: SIRI) shareholders approved two proposals: The first, to issue up to 3.5 million more shares, increasing the number of common stock from 4.5 million to 8 million. The second, to enact a reverse stock split by a ratio of not less than one-for-ten and not more than one-for-fifty.

Sirius faces delisting from the Nasdaq as its stock has traded below $1 since September 19. It was given a grace period until the end of January. With the reverse stock split, the satellite radio company will try to spruce up its battered stock price, avoid delisting and also pay down debt.

I doubt this will help. The problems at Sirius are great and have been exacerbated by the current economic slowdown and an auto industry in shambles. The 13.5 cent stock price reflects investor concerns. Sirius is unprofitable and has a large debt load of $1 billion, due in part in February. It also didn't have positive cash-flow for a full-year to date, but predicts breakeven cash flow in 2009, and positive cash flow in 2010.

Continue reading Sirius XM shareholders OK reverse stock split -- it's not going to help

Sirius XM shareholders OK reverse stock split -- it's not going to help originally appeared on BloggingStocks on Fri, 19 Dec 2008 09:39:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>inthenewsmediaMel KarmazinMelKarmazinNTsatellite radiosatelliteradioSIRIFri, 19 Dec 2008 09:39:00 EST<![CDATA[Lazard: Feasting on the bankruptcy boom]]>http://www.bloggingstocks.com/2008/12/12/lazard-feasting-on-the-bankruptcy-boom/http://www.bloggingstocks.com/2008/12/12/lazard-feasting-on-the-bankruptcy-boom/http://www.bloggingstocks.com/2008/12/12/lazard-feasting-on-the-bankruptcy-boom/#commentsFiled under: ,

It definitely looks like M&A activity will decline in 2009. What's more, it appears that private financings and public offerings will continue to remain lackluster.

This is bad news for investment banks. However, some of these operators are finding ways to maneuver around by focusing on restructuring work.

Perhaps one of the biggest beneficiaries is Lazard Ltd (NYSE: LAZ).

In fact, this week the firm snagged Timothy R. Pohl, the co-head of restructuring practice at Skadden, Arps, Slate, Meagher & Flom.

Pohl will certainly be busy as Lazard is currently working on the bankruptcies of Lehman Brothers and VeraSun.

This week, Lazard also got several new plumb assignments. The firm is advising Nortel Networks (NYSE: NT) on restructuring options, and other new clients include Tribune and even the United Auto Workers.

Of course, with the protracted credit crunch and the declining global economy, we'll likely see more leveraged companies hitting the wall, providing much more business for Lazard.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Streetsmart Guide to Short Selling: Techniques the Pros Use to Profit in Any Market. He is also the founder of BizEquity, a valuation website.

Lazard: Feasting on the bankruptcy boom originally appeared on BloggingStocks on Fri, 12 Dec 2008 12:05:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>BankruptcycawfeaturedLazardnortelnttribuneFri, 12 Dec 2008 12:05:00 EST<![CDATA[Nortel (NT) may face delisting, along with a bunch of other companies]]>http://www.bloggingstocks.com/2008/12/12/nortel-nt-may-face-delisting-along-with-a-bunch-of-other-comp/http://www.bloggingstocks.com/2008/12/12/nortel-nt-may-face-delisting-along-with-a-bunch-of-other-comp/http://www.bloggingstocks.com/2008/12/12/nortel-nt-may-face-delisting-along-with-a-bunch-of-other-comp/#commentsFiled under: , , ,

The New York Stock Exchange has told Nortel (NYSE: NT) that it may face being delisted. According to The Wall Street Journal, the telecom equipment firm will get kicked out "if it cannot bring its share price above the required $1 minimum in the next six months."

Delisting has a lot of problems beyond humiliation. Companies traded on the pink sheets or bulletin board cannot be held by most institutional investors. Stocks that trade in the pennies often face wild price swings as day traders bounce them around.

Who would have thought it would come to this? Many of America's most famous public companies could be up against being booted from the two major stock markets. The list is very long and it includes Sirius XM (NASDAQ: SIRI), Fannie Mae (NYSE: FNM), Ford (NYSE: F) and AIG (NYSE: AIG). The first two have already been below $1 for a fairly long period. AIG and Ford have gotten close.

What can be done? The current market drop, seen through the eyes of the exchanges, is an emergency. NYSE and NASDAQ face losing some of their signature listings, but they have an option. They could simply suspend some of their rules and allow companies to stay listed even if they do not meet the current requirements. The modification could be set for a year, at least initially.

If the exchanges alter the rule to keep some of their listed companies, who gets hurt? Probably no one. Rather, the firms in trouble and their shareholders get helped.

Douglas A. McIntyre is an editor at 247wallst.com.

Nortel (NT) may face delisting, along with a bunch of other companies originally appeared on BloggingStocks on Fri, 12 Dec 2008 10:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AIGdelistingFFNMinthenewsNTFri, 12 Dec 2008 10:00:00 EST<![CDATA[Closing Bell: Stocks slide amid unemployment, banking woes; COST, LULU, NT down, AMLN, LLY gain]]>http://www.bloggingstocks.com/2008/12/11/closing-bell-stocks-slide-amid-unemplyment-banking-woes-cost/http://www.bloggingstocks.com/2008/12/11/closing-bell-stocks-slide-amid-unemplyment-banking-woes-cost/http://www.bloggingstocks.com/2008/12/11/closing-bell-stocks-slide-amid-unemplyment-banking-woes-cost/#commentsFiled under: , , , ,

Stocks fell today as financials were hit hard after a report from UBS predicted losses in the banking sector again in 2009. Jamie Dimon's interview comments didn't give any massive confidence boost either. This was the first day that there was a major move to the upside in what feels like forever, as oil was up $3.49 per barrel at $47.01 on last look. Today's weekly jobless claims data was also the worst we have seen in this part of the cycle.

Here are today's closing bell levels:
DJIA: 8,565.09 (-2.24)
S&P 500: 873.58 (-2.85)
NASDAQ: 1,507.88 (-3.68)

52-Week Lows

Amylin Pharmaceuticals, Inc. (NASDAQ: AMLN) announced that the US FDA gave feedback on the DURATION-1 study for once/week diabetes treatment that will allow it to file a new drug application later in the first half of 2009. Shares were up 19% at $10.18 right before the close.

Costco Wholesale Corp. (NASDAQ: COST) beat earnings with $0.65 EPS vs. $0.62 estimates. Revenues were a tad light. The company said its sales were hurt by a slowdown in non-food discretionary sales and related reductions in margins associated with these sales in the latter half of the quarter.

Continue reading Closing Bell: Stocks slide amid unemployment, banking woes; COST, LULU, NT down, AMLN, LLY gain

Closing Bell: Stocks slide amid unemployment, banking woes; COST, LULU, NT down, AMLN, LLY gain originally appeared on BloggingStocks on Thu, 11 Dec 2008 16:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AMLNcostLLYLULUNTThu, 11 Dec 2008 16:20:00 EST<![CDATA[A bankruptcy at Nortel (NT)?]]>http://www.bloggingstocks.com/2008/12/10/a-bankruptcy-at-nortel-nt/http://www.bloggingstocks.com/2008/12/10/a-bankruptcy-at-nortel-nt/http://www.bloggingstocks.com/2008/12/10/a-bankruptcy-at-nortel-nt/#commentsFiled under: , ,

Nortel (NYSE: NT), the communications equipment maker, is one of the largest companies in Canada. Like a lot of other firms that have a balance sheet full of debt, it will try to restructure what it owes to its creditors. If that doesn't work, it is looking at going into Chapter 11 and a lot of those creditors will not get what they were expecting when they made their loans in the firs place.

According to The Wall Street Journal, "The move comes as the Toronto-based company grapples with plummeting sales for its wireless gear and as the credit crunch hobbles the sale of key assets."

The news is telling. Being in the wireless business used to be a great position. Cellular systems were expanding rapidly. In many cases handsets were even replacing landlines. The opportunity for growth seemed nearly limitless.

But there have been signs that even a hot industry like wireless can be undermined by a recession. Nokia (NYSE: NOK) has warned that handset sales will be down next year. Global growth may slow to nothing even when emerging markets like China and India are figured in. Not so long ago, companies like Nortel and Alcatel-Lucent (NYSE: ALU) had reasonable prospects even if they were going through period of cuts to save costs and make product development and marketing more efficient.

The wireless business was considered one of the most significant global growth industries. Until recently that is.

Douglas A. McIntyre is an editor at 247wallst.com.

A bankruptcy at Nortel (NT)? originally appeared on BloggingStocks on Wed, 10 Dec 2008 09:03:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>ALUinthenewsNOKNTWed, 10 Dec 2008 09:03:00 EST<![CDATA[Earnings highlights: Starbucks, Best Buy, JCPenney, Agilent, Wells Fargo and others]]>http://www.bloggingstocks.com/2008/11/15/earnings-highlights-starbucks-best-buy-jcpenney-agilent-wel/http://www.bloggingstocks.com/2008/11/15/earnings-highlights-starbucks-best-buy-jcpenney-agilent-wel/http://www.bloggingstocks.com/2008/11/15/earnings-highlights-starbucks-best-buy-jcpenney-agilent-wel/#commentsFiled under: , , , , , , , ,

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: Starbucks, Best Buy, JCPenney, Agilent, Wells Fargo and others

Earnings highlights: Starbucks, Best Buy, JCPenney, Agilent, Wells Fargo and others originally appeared on BloggingStocks on Sat, 15 Nov 2008 15:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AgilentBBYBest BuyCharlotte RusseCHICearningsFMCNFocus MediaHLSHOLIJCPJCPenneyJoseph LazzaroKFNKKRMELIMercadoLibreNortelNTPerry EllisPERYSBUXSISiemensStarbucksSusan MooreTOLToll BrothersTSNTysonWells FargoWFCSat, 15 Nov 2008 15:40:00 EST<![CDATA[Closing Bell: Dow ends down despite China; ACAS, AIG, GM, NT decline, UPS gains]]>http://www.bloggingstocks.com/2008/11/10/closing-bell-china-feels-your-pain-and-buys-it/http://www.bloggingstocks.com/2008/11/10/closing-bell-china-feels-your-pain-and-buys-it/http://www.bloggingstocks.com/2008/11/10/closing-bell-china-feels-your-pain-and-buys-it/#commentsFiled under: , , , , , , ,

Today started out looking like a great Monday after the Chinese announced a $586 billion stimulus package. Unfortunately, some of this was already in the works and many doubt its projected 8% to 9% growth for 2009 can stave off a recessionary environment ahead. Bonds closed early ahead of Veteran's Day, and are not trading Tuesday.

Here are the unofficial closing bell levels:
DJIA: 8,870.54 -73.27 -0.82%
NASDAQ: 1,616.74 -30.66 -1.86%
S&P 500: 919.21 -11.78 -1.27%
52-week lows
Top Upgrades & Downgrades
Solar Downgrades

American Capital, Ltd. (NASDAQ: ACAS) got killed after three major announcements: -$2.63 EPS, a $158 million acquisition, suspension of its dividend. Shares were down over 43% at $7.75 to a new multi-year low right before the close.

American International Group (NYSE: AIG) got a larger lifeline as the old $85 billion package grew to $120+ billion and then to $150+ billion, with some $40 billion coming from the TARP funds at better terms. Shares came off with the market at the end of the day, but were still up 9% at $2.30 right before the close.

Continue reading Closing Bell: Dow ends down despite China; ACAS, AIG, GM, NT decline, UPS gains

Closing Bell: Dow ends down despite China; ACAS, AIG, GM, NT decline, UPS gains originally appeared on BloggingStocks on Mon, 10 Nov 2008 16:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>acasaigdhlgmntupsMon, 10 Nov 2008 16:20:00 EST<![CDATA[Before the bell: Stocks to start higher; C, AIG, GM, F, NRG, C, NT, SBUX, WFC, STP, ANF ...]]>http://www.bloggingstocks.com/2008/11/10/before-the-bell-stocks-to-start-higher-aig-gm-f-nrg-c-nt/http://www.bloggingstocks.com/2008/11/10/before-the-bell-stocks-to-start-higher-aig-gm-f-nrg-c-nt/http://www.bloggingstocks.com/2008/11/10/before-the-bell-stocks-to-start-higher-aig-gm-f-nrg-c-nt/#commentsFiled under: , , , , , , , , , , , , , , , , ,

U.S. stock futures were higher Monday morning, indicating stocks could rise at the open after China Sunday announced a $585 billion stimulus package, which includes tax cuts and infrastructure spending. This cause world markets to climb as well as commodities. Oil followed stock markets and jumped above $64 a barrel. Another boost to stocks was further aid from the government to AIG.

[Update 8:25: Circuit City Stores Inc. (NYSE: CC) filed for bankruptcy. Shares are down 52% in premarket trading to 12 cents.]

American International Group (NYSE: AIG) -- The government on Monday provided new financial assistance to the troubled insurance giant, including pouring $40 billion into the company in return for partial ownership. Altogether, AIG got around $150 billion. AIG shares are shooting up over 21% in premarket trading.

General Motors Corp. (NYSE: GM), Ford Motor Co. (NYSE: F) and Chrysler are also moving closer to a bailout as Obama's chief of staff, Rahm Emanuel, called the industry an "essential" part of the U.S. economy. House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid said that the administration should consider expanding the $700 billion financial industry bailout to include car companies. With this kind of support, still undecided is the size and timing of any aid. GM shares are up 2.3% (it was hit by a downgrade from Barclays) and Ford shares are up nearly 5% in premarket trade. [Update 9:10: as expected, with the GM downgrade, it is down over 10% in premarket trading, Ford is only slightly down thought]

NRG Energy Inc. (NYSE: NRG) on Sunday rejected an unsolicited $6.1 billion all-stock bid from nuclear power giant and utility operator Exelon Corp. (NYSE: EXC), calling it too low. NRG shares jumped 6.8% in premarket trading.

Continue reading Before the bell: Stocks to start higher; C, AIG, GM, F, NRG, C, NT, SBUX, WFC, STP, ANF ...

Before the bell: Stocks to start higher; C, AIG, GM, F, NRG, C, NT, SBUX, WFC, STP, ANF ... originally appeared on BloggingStocks on Mon, 10 Nov 2008 08:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>aiganfannccsiqexcffslrgminthenewsmcdnrgntsbuxspwrastpurbnwfcMon, 10 Nov 2008 08:15:00 EST<![CDATA[Before the bell: Another slump expected; VZ, GS, GM, MS, PEP, X ...]]>http://www.bloggingstocks.com/2008/10/27/before-the-bell-another-slump-expected-vz-gs-gm-ms-pep-x/http://www.bloggingstocks.com/2008/10/27/before-the-bell-another-slump-expected-vz-gs-gm-ms-pep-x/http://www.bloggingstocks.com/2008/10/27/before-the-bell-another-slump-expected-vz-gs-gm-ms-pep-x/#commentsFiled under: , , , , , , , , , , , , , , , , ,

Once again world markets sank on recession fears, and once again U.S. stock futures plunged, indicating the session may start on a considerable down note. But if Friday futures reached limit-down to stop trading and many feared the worse, that didn't materialized and the Dow fell "only" 3.6%. Today, oil dropped below $62 a barrel as the G7 expressed concern over the yen and the IMF announced rescue plans for Hungary and Ukraine.

A little after the market opens, investors will look at data on September's new home sales. On Tuesday, a two-day meeting of the Federal Reserve begins, and many expect another coordinated rate cut from the world's major central banks. The Fed is expected to lower its fed funds rate by a half-point to 1 percent on Wednesday.

Verizon Communications (NYSE: VZ) reported 66 cents earnings per share this morning, inline with estimates on strong sales.

Goldman Sachs (NYSE: GS) -- the Financial Times reported Goldman's CEO Blankfein called Citigroup (NYSE: C)'s CEO Pandit last month to discuss a merger. While Pandit immediately turned down the suggestion and any further discussion on the matter, the news is making investors realize the severity of the financial crisis that Goldman was willing to lose its independence.

Continue reading Before the bell: Another slump expected; VZ, GS, GM, MS, PEP, X ...

Before the bell: Another slump expected; VZ, GS, GM, MS, PEP, X ... originally appeared on BloggingStocks on Mon, 27 Oct 2008 08:08:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>cfeaturedgmgsinthenewsmsntpepvzxMon, 27 Oct 2008 08:08:00 EST<![CDATA[Before the bell: Big plunge expected; WB, WFC, C, BUD, IMCL, CC, AAPL ...]]>http://www.bloggingstocks.com/2008/09/29/before-the-bell-big-plunge-expected-wb-wfc-c-bud-imcl-cc/http://www.bloggingstocks.com/2008/09/29/before-the-bell-big-plunge-expected-wb-wfc-c-bud-imcl-cc/http://www.bloggingstocks.com/2008/09/29/before-the-bell-big-plunge-expected-wb-wfc-c-bud-imcl-cc/#commentsFiled under: , , , , , , , , , , , , , , , , , , , , ,

Stock futures dropped sharply Monday morning after the bailout plan was revealed Sunday and several banks in Europe were bailed out. U.S. investors are expected to react similar to stock markets around the word, which tumbled Monday following Washington's $700 billion bank bailout deal. The bailout may not be enough, and it will take a while to clean up the mess and restore confidence to financial markets. The economic reading due to be released today, August personal income and spending is not expected to affect markets much.

Three major banking bailouts were announced in Europe. 1) The Dutch-Belgian bank and insurance giant Fortis failed and was provided with a $16.4 billion lifeline by the governments of Belgium, the Netherlands and Luxembourg. 2) The British government nationalized mortgage lender Bradford & Bingley -- the second British bank to be taken under government control this year. 3) A consortium of German banks and regulators bailed out Hypo Real Estate Holding AG, in a deal worth billions of dollars.

Wachovia Corp. (NYSE: WB) - after WaMu's failure, the focus has shifted to Wachovia and at least two major banks, Citigroup Inc. (NYSE: C) and Wells Fargo & Co. (NYSE: WFC), were reportedly in talks Sunday to buy it. Wachovia shares are trading down 60% to $4 in pre-market action. C and WFC shares are down over 6.5% and 3.5% respectively in pre-market trade.

Continue reading Before the bell: Big plunge expected; WB, WFC, C, BUD, IMCL, CC, AAPL ...

Before the bell: Big plunge expected; WB, WFC, C, BUD, IMCL, CC, AAPL ... originally appeared on BloggingStocks on Mon, 29 Sep 2008 08:18:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>aaplbmybudccccmcsaimclinthenewsllymotntpfeswagwbwfcMon, 29 Sep 2008 08:18:00 EST<![CDATA[Analyst calls: NOC, RYAAY, ANN, CEG, LYG, NT, PLD, DPS, WFMI ...]]>http://www.bloggingstocks.com/2008/09/18/analyst-calls-noc-ryaay-ann-ceg-lyg-nt-pld-dps-wfmi/http://www.bloggingstocks.com/2008/09/18/analyst-calls-noc-ryaay-ann-ceg-lyg-nt-pld-dps-wfmi/http://www.bloggingstocks.com/2008/09/18/analyst-calls-noc-ryaay-ann-ceg-lyg-nt-pld-dps-wfmi/#commentsFiled under: , , , , ,

Analyst upgrades:
  • Baird upgraded Adtran (NASDAQ: ADTN) to Outperform from Neutral based on valuation, new product cycles, and confidence in 2H08 results.
  • Morgan Stanley upgraded shares of Repsol (NYSE: REP) to Overweight from Equal Weight as they believe the potential sale to Sacyr Vallehermoso SA could lead to a restructuring.
  • Stanford lifted National Oilwell Varco (NYSE: NOV) to Buy from Hold citing valuation. In addition, the firm, which set a target of $70, thinks most of the drop in commodity prices is now over.
  • Ryanair (NASDAQ: RYAAY) was raised to Hold from Sell at Societe Generale.
  • Ann Taylor (NYSE: ANN) was upgraded at Piper to Neutral from Sell.
  • Goldman added Illinois Tool Works (NYSE: ITW) to the Conviction Buy List.
Analyst downgrades:
  • Argus downgraded shares of Constellation Energy (NYSE: CEG) to Hold from Buy post-close given the volatility in the stock as they can no longer recommend CEG until concerns over its capital and liquidity are resolved. Shares were also downgraded to Hold from Buy at Citigroup.
  • Collins Stewart downgraded Lloyds TSB Group (NYSE: LYG) to Hold from Buy following the acquisition of HBOS (OTC: HBOOY) as they expect short-term weakness in the stock.

Continue reading Analyst calls: NOC, RYAAY, ANN, CEG, LYG, NT, PLD, DPS, WFMI ...

Analyst calls: NOC, RYAAY, ANN, CEG, LYG, NT, PLD, DPS, WFMI ... originally appeared on BloggingStocks on Thu, 18 Sep 2008 11:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>adtnaigannbarecegdpsilmninapincyinthenewsitwlygnovntpldrepryaayultavarivnowfmiThu, 18 Sep 2008 11:30:00 EST<![CDATA[Closing Bell: Carnage spills to Main Street; NT, MS, AIG, SLB, all down; RAX up]]>http://www.bloggingstocks.com/2008/09/17/closing-bell-carnage-spills-to-main-street-nt-ms-aig-slb-a/http://www.bloggingstocks.com/2008/09/17/closing-bell-carnage-spills-to-main-street-nt-ms-aig-slb-a/http://www.bloggingstocks.com/2008/09/17/closing-bell-carnage-spills-to-main-street-nt-ms-aig-slb-a/#commentsFiled under: , , , , ,

Carnage. Mayhem. BS. Rumors. It was and remains ugly and the fears are only growing. You should see the credit spreads of the credit default swaps. Some of them have never traded at these levels -- even on the good solid companies. Trying to get new, fresh angles to cover the markets right now is becoming a challenge. It's just ugly. I didn't even feel like writing a Closing Bell post today. Gold, oil and metals rallied sharply as investors fled to save havens.

Here are today's unofficial closing bell levels:
Dow 10,610.80 -448.22 -4.05%
S&P 500 1,156.21 -57.38 -4.73%
NASDAQ 2,098.85 -109.05 -4.94%
10YR T-Bond 3.41% -0.081%
52-week lows
Top Analyst Upgrades
Top Analyst Downgrades

Nortel Networks Corp. (NYSE: NT) needs to change its name to "NO TELL" in a hurry. This stock was down 50% at $2.64 right before the close. You know why: slowing telecom and communication equipment orders. Yep, another warning.

Morgan Stanley (NYSE: MS) was the worst financial cohort today. The stock was crushed on rumors, widening credit spreads specific to it, and just overall fears that it is next on the Bataan Death March. Right before the close the stock was down 30% to $20.00, but shares hit lows of $16.08 at the worst level today.

Continue reading Closing Bell: Carnage spills to Main Street; NT, MS, AIG, SLB, all down; RAX up

Closing Bell: Carnage spills to Main Street; NT, MS, AIG, SLB, all down; RAX up originally appeared on BloggingStocks on Wed, 17 Sep 2008 16:24:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>aigmsntraxslbWed, 17 Sep 2008 16:24:00 EST<![CDATA[Analyst calls: HD, LUV, HAS, DRI, JNPR, BBI ...]]>http://www.bloggingstocks.com/2008/08/19/analyst-calls-hd-luv-has-dri-jnpr-bbi/http://www.bloggingstocks.com/2008/08/19/analyst-calls-hd-luv-has-dri-jnpr-bbi/http://www.bloggingstocks.com/2008/08/19/analyst-calls-hd-luv-has-dri-jnpr-bbi/#commentsFiled under: , , , , , , , , ,

Analyst upgrades:
Analyst downgrades:
Analyst initiations:
  • CIBC initiated Nortel Networks (NYSE: NT) with a Sector Performer rating based on what they see as the company's limited growth and margin prospects.
  • Needham initiated Juniper (NASDAQ: JNPR) with a Hold rating, citing valuation.
  • Blockbuster (NYSE: BBI) was initiated with a Hold by Needham, which would like to see if the company's turnaround is sustainable before becoming more constructive on the shares.

Analyst calls: HD, LUV, HAS, DRI, JNPR, BBI ... originally appeared on BloggingStocks on Tue, 19 Aug 2008 11:33:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>acsadpbbidksdrihashdinthenewsjnprluvntTue, 19 Aug 2008 11:33:00 EST<![CDATA[Analyst calls: AKAM, NT, CHIC, WMG, DE, AMGN, SIRI ...]]>http://www.bloggingstocks.com/2008/08/04/analyst-calls-akam-nt-chic-wmg-de-amgn-siri/http://www.bloggingstocks.com/2008/08/04/analyst-calls-akam-nt-chic-wmg-de-amgn-siri/http://www.bloggingstocks.com/2008/08/04/analyst-calls-akam-nt-chic-wmg-de-amgn-siri/#commentsFiled under: , , , , , , , ,

Analyst upgrades:
  • Jefferies upgraded shares of Akamai (NASDAQ: AKAM) to Buy from Hold on valuation, as they see a long-term buying opportunity following the recent correction. The firm maintains a $29 target.
  • Moody's (NYSE: MCO) was upgraded to Overweight from Underweight at Lehman.
  • Boyd Gaming (NYSE: BYD) was upgraded to Neutral from Underperform at Merrill Lynch.
Analyst downgrades:
  • Jefferies downgraded shares of Nortel Networks (NYSE: NT) to Hold from Buy on concerns about the company's ability to hit expectations and drive margin expansion in the face of an eroding CDMA revenue stream. The firm lowered their target to $7.25 from $11.
  • B. Riley cut Charlotte Russe (NASDAQ: CHIC) to Neutral from Buy on concerns about how well the company can perform with the interim management team, especially in light of the current retail environment. The firm lowered their target to $14 from $17. Roth Capital downgraded shares to Sell from Hold to reflect the management uncertainty and lowered their target to $9 from $14.
  • Goldman cut Warner Music (NYSE: WMG) to Sell from Neutral and Deere (NYSE: DE) to Neutral from Buy.
Analyst initiations:
  • Banc of America expects top-line growth at Amgen (NASDAQ: AMGN) to be driven by Denosumab and for investors to look to the stock for biotech exposure following the potential acquisition of Genentech (NYSE: DNA). The firm started shares with a Buy rating and $70 target.
  • Sirius Satellite (NASDAQ: SIRI) was initiated at JP Morgan with a Neutral rating.

Analyst calls: AKAM, NT, CHIC, WMG, DE, AMGN, SIRI ... originally appeared on BloggingStocks on Mon, 04 Aug 2008 11:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>akamamgnbydchicdednamcontsiriwmgMon, 04 Aug 2008 11:30:00 EST<![CDATA[Earnings highlights: Lehman, UBS, Krispy Kreme, Pepsico, Pep Boys and others ]]>http://www.bloggingstocks.com/2008/06/14/earnings-highlights-lehman-ubs-krispy-kreme-pepsico-pep-boy/http://www.bloggingstocks.com/2008/06/14/earnings-highlights-lehman-ubs-krispy-kreme-pepsico-pep-boy/http://www.bloggingstocks.com/2008/06/14/earnings-highlights-lehman-ubs-krispy-kreme-pepsico-pep-boy/#commentsFiled under: , , , , , , , , , ,

Here are some highlights from this past week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: Lehman, UBS, Krispy Kreme, Pepsico, Pep Boys and others

Earnings highlights: Lehman, UBS, Krispy Kreme, Pepsico, Pep Boys and others originally appeared on BloggingStocks on Sat, 14 Jun 2008 09:10:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AAADCADCTAlcoaBanco de ChileBBYBCHBenihanaBest BuyBNHNBob EvansBOBEBrown-FormanCCHCMGICONNConnsDicksDKSearningsearnings reportsethanolGESGuessKKDKrispy KremeLEHLehman Bros.MicrosoftMSFTNational SemiconductorNortelNSMNTPallPBYPEPPep BoysPepsicoPLLQCOMQSIIQualcommQuality SystemsSHFLShuffle MasterSmith and WessonSWHCTalbotsTexas InstrumentsTLBTXNUBSVeraSunVistaVSESat, 14 Jun 2008 09:10:00 EST<![CDATA[Closing Bell: Inflation, financials, and oil... ugliness everywhere, almost]]>http://www.bloggingstocks.com/2008/06/11/closing-bell-inflation-financials-and-oil-ugliness-everywh/http://www.bloggingstocks.com/2008/06/11/closing-bell-inflation-financials-and-oil-ugliness-everywh/http://www.bloggingstocks.com/2008/06/11/closing-bell-inflation-financials-and-oil-ugliness-everywh/#commentsFiled under: , , , , , ,

Today was yet another day where Joe Public felt like he spent a round in the ring with Joe Lewis. It's getting that way again, and now the only real positive is that contrarians may start to get happy.

Oil jumped back up another $5.00 per barrel on inventory numbers reported this morning. The continued weak environment sent financials and airlines into the dirt again. PIMCO's McCulley said he believes that the Fed is understating inflation and the Fed's Beige Book hinted that some higher costs are beginning to be passed down to consumers.

Here are the unofficial closes of major US index levels:
DJIA 12082.14 (-207.62)
S&P500 1335.56 (-22.88)
NASDAQ 2394.01 (-54.93)
10YR T-NOTE 4.07% (-0.026%)
Top 10 Analyst Calls

Anheuser-Busch Companies Inc. (NYSE: BUD) saw another big pickup in its call options activity today and then CNBC's David Faber said that InBev in Europe may be close to making an unsolicited bid for the company. Shares were up about 2.3% at $58.45 in the final minutes of the day.

Continue reading Closing Bell: Inflation, financials, and oil... ugliness everywhere, almost

Closing Bell: Inflation, financials, and oil... ugliness everywhere, almost originally appeared on BloggingStocks on Wed, 11 Jun 2008 16:18:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>budccentinthenewsmsontWed, 11 Jun 2008 16:18:00 EST<![CDATA[Before the bell: AA, CAT, NT, JNJ, YHOO ...]]>http://www.bloggingstocks.com/2008/06/11/before-the-bell-aa-cat-nt-jnj-yhoo/http://www.bloggingstocks.com/2008/06/11/before-the-bell-aa-cat-nt-jnj-yhoo/http://www.bloggingstocks.com/2008/06/11/before-the-bell-aa-cat-nt-jnj-yhoo/#commentsFiled under: , , , , , , , , , ,

Before the bell: Futures higher ahead of Beige Book, oil supplies

Alcoa Inc. (NYSE: AA) said its Australian operations declared force majeure under supply contracts because an explosion at a gas supplier slowed production. Alcoa said the disruption will likely lower second-quarter earnings by 2 cents to 3 cents a share. Also, JP Morgan downgraded Alcoa from Overweight to Neutral, saying the company will not be a takeover target.

Bloggers, investors and Apple Inc. (NASDAQ: AAPL) weren't just interested in the new 3G iPhone unveiled Monday. Many of them commented on the appearance of CEO Steve Jobs and voiced concerns for his health, saying he was gaunt-looking. While a spokeswoman said Jobs was hit with a common bug, many are worried since Jobs was diagnosed with a rare form of pancreatic cancer four years ago, for which he underwent surgery that Apple said was successful.

Caterpillar (NYSE: CAT) was awarded a $397.1 million contract from the U.S. Army for two types of dozers with armor kits. The contract has one five-year option. Work is expected to be completed by 2018. Caterpillar is also holding its annual meeting today.

Continue reading Before the bell: AA, CAT, NT, JNJ, YHOO ...

Before the bell: AA, CAT, NT, JNJ, YHOO ... originally appeared on BloggingStocks on Wed, 11 Jun 2008 08:22:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>aaaaplalvrcatinthenewsjnjntyhooWed, 11 Jun 2008 08:22:00 EST<![CDATA[Pre-market movers (NT) (FRPT) (SWIM)]]>http://www.bloggingstocks.com/2008/05/02/pre-market-movers-nt-frpt-swim/http://www.bloggingstocks.com/2008/05/02/pre-market-movers-nt-frpt-swim/http://www.bloggingstocks.com/2008/05/02/pre-market-movers-nt-frpt-swim/#commentsFiled under: ,

Nortel (NYSE:NT) is up over 8% on strong earnings.

Force Protection (NASDAQ:FRPT) is trading higher 14% on a new contract from the UK.

Investools (NASDAQ:SWIM) is off almost 26% on news that the SEC is conduting an informal inquiry.

NetSuite (NYSE:N) is down over 15% after posting weak quarterly numbers.

Stocks may trade differently in the pre-market than they do in the regular session.

Douglas A. McIntyre is an editor at 247wallst.com.

Pre-market movers (NT) (FRPT) (SWIM) originally appeared on BloggingStocks on Fri, 02 May 2008 08:09:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>FRPTNNTSWIMFri, 02 May 2008 08:09:00 EST<![CDATA[Option Update: Nortel volatility elevated into EPS & Networld-Interop 2008]]>http://www.bloggingstocks.com/2008/04/30/option-update-nortel-volatility-elevated-into-eps-and-networld-in/http://www.bloggingstocks.com/2008/04/30/option-update-nortel-volatility-elevated-into-eps-and-networld-in/http://www.bloggingstocks.com/2008/04/30/option-update-nortel-volatility-elevated-into-eps-and-networld-in/#commentsFiled under: ,

Nortel Networks (NYSE: NT) is scheduled to report Q1 EPS before the market open on May 2.

NT will be a participant at Networld-Interop 2008, beginning on May 4.

NT May option implied volatility of 74 is above its 26-week average of 58 according to Track Data, suggesting larger price uncertainty.

Options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com

Option Update: Nortel volatility elevated into EPS & Networld-Interop 2008 originally appeared on BloggingStocks on Wed, 30 Apr 2008 09:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>nortelntoption implied volatilityOptionImpliedVolatilityWed, 30 Apr 2008 09:00:00 EST