A few minutes ago, Thornburg Mortgage (TMA), the mortgage REIT that has been in the eye of the storm last two days, issued a press release updating the situation (TMA Press Release) Since 12/31/07 they have received $1.777 billion in…
Some really interesting stuff playing out today in what else: mortgage backed securities. Yesterday (Wed) after the close, Thornburg Mortgage (TMA), a high quality and well respected originator and securitizer of jumbo (more than $417,000) mortgages, announced in a filing…
Yesterday after the close, Intel (INTC) lowered its forecast for 1st quarter gross margins from 56% plus or minus a couple of points to 54% plus or minus a couple of points (INTC Press Release). Intel shares are down about…
Financials are dragging the market down again this morning and I think it has to do with a story in this morning’s Wall Street Journal which is the most highly read on WSJ.com: “Wall Street Gears for Its New Pain:…
AIG’s (AIG) fourth quarter earnings report after the close yesterday, in which they announced $11 billion in writedowns on exposure to credit default swaps it wrote and $2.6 billion in writedowns on mortgage backed securities it holds, brought back some…
I wrote about Walmart (WMT) positively last Tuesday and an interesting way to play the stock, and yesterday Dan Gross put up an article on Slate that makes the same point: a tough economy is Walmart’s sweet spot. He gives…
Google (GOOG) is down big again today on data from comScore saying that paid click growth in January was flat compared to last year. The selloff is way overdone at this point and the stock will bounce. Consider: At its low point…
A little before 11am EST IBM (IBM) announced that its board had authorized a $15 billion share buyback and that it plans buy back about $12 billion in stock in 2008. The announcement led to a jump in IBM stock…
Home Depot (HD) reported this morning that same store sales decreased 8.3% and net income 28% for its recently completed fiscal 4th quarter. Their guidance for 2008 was for negative comps in the mid to high single digits and a…
This is how it works peeps: At 2:22:27pm EST, Standard & Poors, the ratings agency, issued new ratings actions on the bond insurers, including taking leading player MBIA (MBI) off of CreditWatch (“S&P Takes Additional Bond Insurer Rating Actions” (subscription…