Target Reports A Notably Weak September
Here are Target’s (TGT) monthly same store sales comps for the last year (Target Releases): Sept 07 1.2% Aug 07 6.1% Jul 07 6.1% Jun 07 3.3% May 07 5.8% Mar and Apr 07 3.0% (See this post for why I’m…
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Is Cramer Too Late On Google?
On “Mad Money” last night Cramer said that it’s not too late to buy Google. In fact, he said, his price target for Google is $750 and that is “a total and unequivocal lowball estimate”. But I’m wondering if he’s…
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Winnebago Reports Blowout 4th Quarter – But There Are Warning Signs
“Motorcycles and motor homes are the kind of things that people think about before they buy. Nobody needs a Harley. They’re bought when people want ’em, so they’re poster boys for the economy.” – Ron Muhlenkamp, Portfolio Manager, Muhlenkamp Fund,…
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Richard Bove On The Investment Banks
These companies are not going to see their markets jump back immediately. Their earnings power has been lowered. This is a reason to sell not buy. The theory that if the company writes off $2 billion it should see its…
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The Chinese Say Yum Yum To KFC
For all of you geting swept up in the euphoria over all these speculative Chinese stocks, forget about it. I have a better alternative for you: Yum! Brands (YUM) (website). Yum is the operator of Taco Bell, Pizza Hut and…
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Google Closes Above $600 For The First Time
Google (GOOG) has made about a 25% move, from below $500 to around $610 at the close today, over the last 8 weeks (since Thurday August 16th) (Chart). What’s interesting to me is that Google itself hasn’t really reported any…
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Hope As An Investment Philosophy: The Homebuilders This Week
Homebuilders have been on fire this week mainly, it seems, on the strength of a Monday upgrade by Citigroup Homebuilder Analyst Stephen Kim. Check out the moves in some of these builders (as of Fri 10/5, 1pm EST): KB Home…
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More Writedowns From The Financials: Merrill and WaMu Announce 3rd Quarter Writedowns
This morning Merrill Lynch (MER) announced an estimated $5.5 billion in writedowns ($4.5 million related to mortgage backed securities and $1 billion to leveraged loan commitments) and forecast a loss for the quarter of up to 50 cents per share…
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Bespoke Investment: Financials Trading Strong
An interesting chart from BeSpoke Investment Group shows more than 80% of the companies in the S&P Financials trading above their 50 day moving average. That’s a higher level than we’ve seen since before the emergence of problems with subprime…
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Henry Blodget Says Google $2000 “Not Far Fetched”
Henry Blodget, the infamous Merrill Lynch analyst who put ridiculous price targets on internet stocks during the tech bubble (the most notorious being his $400 target for Amazon.com in October 1998) and was ultimately barred from the securities industry, wrote in a…