A couple Fridays ago (1/4) I put key support as follows: Dow: 12,700 S&P: 1400 Nasdaq: 2450 And I wrote: I’d expect these levels to hold today. And we could even see a bounce off of them in the short…
“We are growing increasingly concerned on an inventory correction for PC components due to weakening demand and high channel inventory.” – “Intel Takes One For The Team” (subscription required), JP Morgan Analysts Christopher Danley and Scott Jones in a note…
Doh! The song says to build the city on rock and roll – not CDOs! Imagine: a simple little screw up like that in your business plan and BOOM: $18 billion in writedowns. On top of that, the consumer lending…
“… there is a light burning in this guy that doesn’t burn in many people.” – Earl G. Graves Jr., president of Black Enterprise Magazine, who knew Lampert when they were both students at Yale in the early ’80s In a…
“Starbucks can come back financially. But it’s never going to be cool again.” – Sarah Gilbert, BloggingStocks.com Business columnist Joe Nocera has a wonderful column up from yesterday “Curing What Ails Starbucks”. All Starbucks (SBUX) stockholders and investors interested in…
BeSpoke has an interesting post up this afternoon showing that while the average stock in the S&P 1500 is off 30% from its highs, the index as a whole is only off 12%. What this implies is that the biggest,…
We are seeing a lot of outright breakdowns, huge drops and big volume, in top name retailers today: McDonald’s (MCD), Best Buy (BBY) and Tiffany (TIF). An independent analyst reported that based on his survey of McDonald’s franchisees December sales appear…
After the close today, credit card company and Dow Jones constituent American Express (AXP) put out a startling press release. In it they said that American Express card member spending began to slow and delinquencies and write offs trended up in December….
I love those guys over at BeSpoke Investment Group. Every few days they’ll have an absolute gem of data analysis that nobody else has. Just before the close today they put up a post showing that the most widely owned…
About 2:15pm EST, as the market was reacting tepidly to Bernanke’s speech, news broke that Bank of America (BAC) is in talks to buy Countrywide (CFC). This led to a surge in Countrywide shares (CFC Intraday Chart) that carried over…