Markets were down big yesterday on news that HSBC was taking $45 billion worth of mortgage backed securities from some of its SIVs onto its balance sheet and speculation that other banks, like Citigroup, might have to do the same….
“I think the world of her. She’s bold and she nails it.” – A multi billion dollar portfolio manager “Meredith is not afraid to say what she thinks. I think her call on Citi was dead on. She stripped the…
Citigroup (C) just announced that they are selling a $7.5 billion stake to the sovereign wealth fund of Abu Dhabi, one of the United Arab Emirates. The stake is in the form of equity units which are “mandatorily convertible” into…
Stocks were up in the morning on the strong report and forecast from Hewlett Packard (HPQ). But they started to sell off in the afternoon as investors digested Freddie Mac’s (FRE) report of a $2 billion loss for the 3rd…
Hewlett Packard (HPQ) reported another solid quarter today after the close. Revenues were up 15% and Net Income up 27%. EPS came in at 86 cents, above analyst estimates for 82 cents (HPQ FY 4Q Earnings Release). The forecast for…
Goldman Sachs analyst William Tanona this morning downgraded Citigroup (C) to “Sell” and suggested they might have to cut their dividend to raise capital. He also cut his price target on a number of other financial companies including Merrill Lynch,…
Starbucks (SBUX) US same store customer transactions decreased by 1% in the just completed quarter, the first time that measure has been negative since Starbucks started reporting it three years ago. Their 4% same store sales increase in the US…
“Over the past 10 years, in order to achieve the growth, development, and scale necessary to go from less than 1,000 stores to 13,000 stores and beyond, we have had to make a series of decisions that, in retrospect, have…
“As we look forward to the fourth quarter, we are doing so with a heightened sense of caution due to our belief that the overall macro environment is having a greater impact on retail traffic than we previously anticipated.” –…
“… it’s an ominous sign when dollar weakness becomes ingrained enough in the popular mind for the currency to be spurned by runway models.” – “Gisele Dumps Ben” (subscription required), The Wall Street Journal, Editorial, Tuesday November 6 Last Monday,…