Before the open this morning, Citigroup analyst Mark Mahaney upped his rating on Amazon (AMZN) to “Buy” from “Hold” and raised his price target on the stock to $119 from $95 (AMZN closed Monday at $92.64). He cites consolidation in…
“These are sophisticated investors, and they certainly know how to time their own exits.” – Adam Zoia, Founder, Glocap, an executive search firm focused on the alternative investment industry, in The New York Times “Wall St. Way: Smart People Seeking…
A confluence of bad news combined to drive down stocks today. First, and most important, was the assasination of Pakistani opposition leader Benazir Bhutto (subscription required). This reminds everybody of the high level of geopolitical risk in our globalized economy. (If…
Yesterday (Monday) after the close, in its mid month sales update, Target (TGT) said that same store sales for December, on a comparable basis, would likely come in between -1% and 1% – below previous guidance (call 612-761-6500 for the recorded…
A lot of important earnings news affecting the market today: Oracle (ORCL), Nike (NKE), Bear Stearns (BSC), Federal Express (FDX) and Winnebago (WGO). ***** Everybody pretty much knew Bear was going to report an ugly quarter and they in fact…
Before the open this morning, Morgan Stanley (MS) announced fiscal year 4th quarter earnings, which included a $9.4 billion writedown related to mortgage backed securities. This resulted in a loss of $3.6 billion in the quarter or $3.61 a share! …
“We’re cautious about the near term outlook for our businesses as we see dislocation in some of the world’s capital markets has continued.” – David Viniar, CFO, Goldman Sachs, in today’s conference call with analysts Charlie Gasparino reported on CNBC…
It’s been another interesting and volatile day in the stock market. Goldman Sachs (GS) and Best Buy (BBY) both posted strong earnings before the open and the market gapped up 10 points. But investors sold the gap up and the S&P…
Take a look at a YTD Goldman Sachs Chart. Especially zero in on the last 6 weeks (GS 2 Month Chart). Notice the zigging and zagging: After closing around $248 on Wednesday October 31st, Goldman’s shares sold off over the…
After the close yesterday, Citigroup announced that it will provide a support facility for its Structured Investment Vehicles (SIVs), off balance sheet investment vehicles, which will result in its consolidating their assets and liabilities onto its own balance sheet (C…