Foster City, CA based Gilead Sciences (GILD) has been on a tear the last 2 years – up more than 250% – on the strength of its leading suite of AIDS drugs: Truvada, Atripla and Viread. It is also a…
Sacrameno’s best known public company, McClatchy Co. (MNI), owner of the Sacramento Bee, Miami Herald and other major newspapers, has been one of the worst stocks in the entire market the last couple of years. On top of an industry-wide…
“The fallout of the subprime meltdown on financial services companies that hold some of the debt creates some risk to earnings. The financials make up over 25% of earnings for the S&P 500, so a series of disappointments in financials…
“There’s anticipation that second quarter earnings will be better than expected.” – Jim Herrick (subscription required), Head Trader, Robert W. Baird “We think people are gunning to the low side on where earnings should come in…. We think analysts have overdone…
Every market needs a sector or sectors to lead it (up or down) and every investor should know what they are. (This is one of the points from William O’Neil’s How To Make Money In Stocks that I’ve really taken…
One has to wonder at the motives for Kohlberg Kravis Roberts (KKR) and Och-Ziff, a hedge fund, to go public after a mediocre IPO earlier this year by hedge fund Fortress Investment Group (FIG) and a disappointing one by private…
“Don’t congratulate me when I buy something. Congratulate me when I sell it.” – KKR Founder Henry Kravis, quoted by Bill Seidman, CNBC Chief Commentator, on CNBC this morning in response to a question I sent him (video – my question…
“We’re talking about massive, massive downgrades here.” – Rod Dubitsky, Asset Backed Real Estate Debt Analyst, Credit Suisse, ranked #2 last year by Insitutional Investor magazine in his category “A lot of these should be downgraded sooner rather than later.” –…
Make no mistake: this week, as last week, is all about the blow up of the two Bear Stearns hedge funds heavily invested in subprime mortgage backed securities. And The Wall Street Journal, as usual, is to be commended for…
Whereas the previous two weeks (June 4-8 and June 11-15) were all about rising interest rates, this week was all about the blow up of two Bear Stearns hedge funds with heavy investments in subprime mortgage bonds. Fear that other…