The stock market rally stalled today on a number of interesting and important developments. The front page of the WSJ (subscription required) announced that Bank of America was making a $2 billion investment in Countrywide Financial (CFC), that nation’s largest…
Three months ago on the afternoon of Wednesday May 24, Nvidia (NVDA) gave surprisingly strong current quarter guidance in conjunction with its earnings report. The guidance for $11 billion in revenue in the current quarter blew away the consensus estimate…
Okay, I admit it: this market is now officially annoying me. American Express (AXP) reported 1st quarter earnings after the close yesterday and from the behavior of the stock you’d think it suggested a major turnaround and economic recovery. The…
[The Fed] “might reference recent market movements by talking about the ongoing repricing of risk….” – Drew Matus (subscription required), Senior Economist, Lehman Brothers Well aren’t we just so excited about seeing Uncle Ben tomorrow!!! I mean would you look at that:…
Carlyle Capital Corporation Limited today announced that, although it has been working diligently with its lenders, the Company has not been able to reach a mutually beneficial agreement to stabilize its financing. The Company expects that its lenders will promptly…
I think oil is starting to become oversold in the way the financials were a month ago: At $113 a barrel oil is down about 23% from its highs last month. The 200 DMA (Day Moving Average) is right around…