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). …
Comcast (CMCSA) announced yesterday after the close that 2007 results would come in slightly below previous guidance (Press Release) and shares are getting crushed today. Three analysts downgraded their rating on the stock from “Buy” to “Hold” this morning. Shares…
“We expect writedowns in fixed income inventory and a slowdown in M&A and origination activity to negatively impact results for all the brokers.” – JP Morgan Analyst Kenneth Worthington (subscription required), in a note this morning downgrading the brokers “In sum,…
Dell reported earnings after the close last night and investors appear not to have liked what they heard. While revenue was up 8.5% and net income 27%, gross margins were a bit below where analysts expected them, US Consumer PC…