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…
The last thing of any real interest to me on the calendar for this year are investment bank earnings, which were kicked off today when Lehman Brothers (LEH) reported fiscal year 4th quarter earnings (LEH FY 4Q Earnings Release). Goldman,…
“Office Depot …. projects continued erosion of sales and earnings in the fourth quarter of 2007. As previously reported, the Company’s results for the third quarter of 2007 were negatively impacted by difficult housing related economic conditions in certain of…
Washington Mutual (WM) issued quite a press release after the close yesterday. Here is what they said they are going to do to shore up their capital base and their business: Cut their quaterly dividend from 56 cents to 15…
The big news this morning is an announcemement by UBS that they will take a $10 billion writedown on their US subprime exposure and also that the Singapore Investment Authority ($9.75 bil) and an unnamed Middle East investor ($1.75 bil) have made investments…
“… during the last month of the quarter, we did start to see the beginning of some softening in demand and the channel research that we did and the studies that we conducted say that some plastic surgeons were starting…
“We are taking a more cautious view on the consumer finance stocks as the serial negative economic news suggests that the risk of a consumer recession is all but certain, in our view.” – Merrill Lynch analysts, in a report…
Retailers reported November same stores sales this morning and the numbers again appear mediocre. Same store sales increased 4% but because of a calendar shift, this year’s November included the week after Thanksgiving whereas last week’s “November” did not (subscription required). …