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Closing Bell: When a loss is a win (GE, PALM, POT, NKE, MU)

Posted Jun 26th 2009 4:00PM by Jon Ogg (RSS feed)
Filed under: General Electric (GE), NIKE, Inc'B' (NKE), Palm Inc (PALM), Potash Corp. of Saskatchewan (POT)

The market was lower most of the day after the Commerce Department reported that consumers were saving a lot more than they were spending. Frankly, after yesterday's big gains today could have sold off much more and there would have been little concern.

Here are today's unofficial closing bell levels:

Dow 8,433.78 -38.62 (-0.46%)
S&P 500 918.48 -1.78 (-0.19%)
Nasdaq 1,838.22 +8.68 (0.47%)

Continue reading Closing Bell: When a loss is a win (GE, PALM, POT, NKE, MU)

Nothing exciting happening at Micron (MU), but still worth a trade

Posted Oct 3rd 2007 9:25AM by Eric Buscemi (RSS feed)
Filed under: Earnings reports, Bargain stocks

Micron Technology (NYSE: MU), the well-known DRAM manufacturer that has been expanding into new areas, reported results last night that simply will not get anyone excited.

What was interesting is how much DRAM growth has slowed during the past ten years, with management forecasting bit consumption of just 5% to 20%, not high for an industry that showed bit growth closer to 50% during much of its existence. Since this is an industry that always shows price declines -- expecting a 10% drop in DRAM pricing in the current quarter -- this slowdown in volume growth is not good.

Hoping to offset a structural slow down in DRAM growth, MU has expanded into the image sensor and NAND flash memory business, two more commodity-chip products. Micron's strategy appears to be to invest in businesses that do not earn their cost of capital.

However, with that said, Micron is selling for 1.2x book value, which is at the lower end of its historical trading range. Also, the seasonally strong demand for these commodity products last into November. As blogged yesterday, it is still worth a trade into November, when chip demand will moderate.

Newspaper wrap-up 4-12-07: MSNBC pulls plug on Imus

Posted Apr 12th 2007 9:20AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Microsoft (MSFT), General Electric (GE), Viacom (VIA), Boeing Co (BA)

MAJOR PAPERS:
OTHER PAPERS:
  • Sources involved with the process reported that Viacom Inc's (NYSE: VIA) music publishing catalog Famous Music is attracting a lot of interest from major music labels to former music executives backed by private-equity, reported the New York Post.
  • France's Thales and American aerospace giant Boeing Company (NYSE: BA) are reportedly looking to make a joint bid for a new $31.7B contract to supply the British Army with 3,000 new medium-weight armored vehicles, reported The Business.
  • The Independent reported that scientists have discovered a technique for "pain-free, highly effective chemotherapy," a huge breakthrough in cancer treatment.
WEBSITES:
  • DigiTimes.com reported, citing industry sources, that Powerchip Semiconductor Corporation has lowered its DRAM spot prices almost 15% due to fierce price competition, but the sources noted that the low prices have not been able to stimulate demand in the DRAM market.

Newspaper wrap-up 4-11-07: Nasdaq in talks with Philadelphia Stock Exchange

Posted Apr 11th 2007 9:00AM by Eric Buscemi (RSS feed)
Filed under: Newspapers, Magazines, Internet, Daimler (DAI), Motorola (MOT),

MAJOR PAPERS:
OTHER PAPERS:
  • According to the New York Post, citing sources familiar with the matter, the private-equity firms that bought out Clear Channel Communications Inc (NYSE: CCU), Thomas H. Lee Partners and Bain Capital, are weighing their options as they wait for a "crucial" shareholder vote on the deal, which will come next week.
WEBSITES:
  • According to Barron's Online's "Inside Scoop" column, Carl Icahn's investment groups reported that in the last two weeks they have increased their Motorola Inc (NYSE: MOT) holdings to 69.1M shares, or a 2.9% stake, from 64.9M shares, or a 2.7% stake.
  • DigiTimes.com reported that Samsung is reportedly switching capacity from DRAM back to NAND flash.

Symbol Lookup
IndexesChangePrice
DJIA+30.6910,464.40
NASDAQ+6.872,176.05
S&P 500+4.981,110.63

Last updated: November 27, 2009: 05:16 AM

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