Tremendous Value In Cisco
If you’d told me in 2000 that one day we’d own Cisco, I’d have said you were crazy. – Russell Croft , Co-Manager, Croft Value Fund, quoted in "Value Funds Awash In Deluge of Choices: Market Rout has Cut P/Es; Cisco?…
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Tough Quarter At Disney
It’s a really disappointing quarter. The surprise is that the bigger disappointment came on the media networks side instead of the theme parks. They took a real hit at ESPN and in the broadcast business, which reflects the tough advertising…
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I Like Costco Here
Costco (COST) this morning announced -2% same store sales growth for January and that 2Q earnings for the period ending February 15, 2009 are expected to be "substantially below" consensus estimates of 70 cents a share (COST Press Release ). …
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Caterpillar, Black & Decker And The Process of Adjustment
Our sales stayed pretty strong through October and well into November. We pretty much hit a wall in December. – Jim Owens (subscription required), CEO Caterpillar The depth and duration of economic decline throughout the world makes it very difficult to…
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Google Is Priced For A Severe Recession Too
Google (GOOG) just now reported a solid 4th quarter (GOOG Earnings Release). Revenue after Traffic Acquisition Costs were $4.22 billion and EPS $5.10 – beating analysts consensus of $4.12 billion and $4.95. Shares are up a bit in the after…
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Microsoft Shares Priced For Severe Recession
It is also clear that we are not immune to the effects of the economy. Consumers and businesses have reined in spending, which is affecting PC shipments and IT expenditures. – Steve Ballmer, Microsoft CEO, in a memo to employees…
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What’s The Endgame For The Big Banks?
U.S. officials are wary about taking the most extreme step — nationalizing banks altogether… But as the market value of many firms evaporates, they may be left with no other alternatives to raise cash. From a political standpoint, there’s not…
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Bank Of America Is The New Citigroup
The approximately $120 billion aid package on Thursday for Bank of America — including injections of capital and absorbed losses — as well as a $300 billion package in November for Citigroup both represented displays of financial gymnastics aimed at…
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Walmart Is Still Money In A Recession
The big story today is Walmart (WMT) lowering its 4th quarter earnings forecast from a range of $0.97-$1.01 to a range of $0.91-$0.94 due to below expectation sales and higher expenses at Sam’s Club and Walmart International – Walmart is…
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Don’t Get Complacent: It’s Still A Bear Market
At the first sign of strength, most investors become amnesiacs. They become so concerned with making money, or missing the chance to make up losses, that they rush into stocks at the very time they should be most cautious. Now,…