The 52-Week Low Club (DTG)(SCMR)(VYYO)

Dollar Thrifty Automotive (DTG) Rental car company stocks fall as DTG cuts outlook. Drops to $16.27 from 52-week high of $55.30. Ryanair Holdings (RYAAY) Airline warns of rough ride ahead. Sells off to $27.81 from 52-week high of $49.72. Worldspace (WRSP) No news from the satellite radio company but share take a dive. Falls to $1.05 from $5.66. Sycamore Networks (SCMR) Stock has been weak for weeks after weak earnings. New low at $3.34 down from 52-week high of $4.35. Vyyo (VYYO) Unpleasant earnings. Sells off to $1.52 from 52-week high of $9.17. Douglas A. McIntyre
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  4 Febrero, 2008| Economy | Comments (0) @ 21:45

Patriots Lose — Markets Win?

William Power is back with an update on the Super Bowl Indicator, after the New York football Giants upset the New England Patriots, 17-14.

Was David Tyree thinking about his portfolio? (Reuters)

Even Patriots fans who are investors can take consolation in one, small thing: M…
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  4 Febrero, 2008| Economy | Comments (0) @ 21:37

Rambus Earnings: Heads or Tails? (RMBS)

Rambus Inc. (NASDAQ: RMBS) has just posted earnings with a net loss of 0$0.14 EPS on revenues of $40.5 million. First Call had estimates of -$0.10 EPS and $40 million in revenues. There may be items in that net loss number, so we’d evaluate the conference call and items listed in the press release before hanging our hat on any numbers.. Rambus noted its cash and equivalents at December 31, 2007 were $440.9 million. The company noted a rise in litigation expenses up $4.4 million sequentially as general litigation expenses for the quarter were $16.1 million. No guidance was offered,…
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  4 Febrero, 2008| Economy | Comments (0) @ 21:29

Day 2 - Post M.Y.M.A. (Microsoft/Yahoo Merger Announcement)

M.Y.M.A is a pian in the ass.
All we know one more trading day later is people are convinced this deal will happen, happen higher or some yutz or group of yutz’s (yutzem?) pays more for this new media conglomerate. I mean Yahoo is almost fully priced at Microsoft deal offer now. The freaking arbs are hard up for deals to….well…ARB!
All we know is that Google could probably care less. They do care enough to dispatch a few hundred Google Lawyeres (still awful people even though they practice law for GOOGLE).
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  4 Febrero, 2008| Economy | Comments (0) @ 21:28

Synchronoss Up On Results (SNCR)

Synchronoss Technologies, Inc. (NASDAQ: SNCR) has just posted earnings of $0.22 EPS non-GAAP on revenues of $36.4 million. First Call had estimates of $0.20 EPS and $35.65 million in revenues. The company ended December with cash and cash equivalents of $95.9 million. Stephen G. Waldis, President & CEO: “From a long-term perspective, we believe Synchronoss is well positioned to benefit from multiple growth opportunities, including e-commerce, wireless, VOIP and most importantly, the trend towards converged services….” Unfortunately, Synchronoss did not offer actual guidance, so until that is given this is probably considered an incomplete report. Shares closed at $23.25, up…
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  4 Febrero, 2008| Economy | Comments (0) @ 21:19

If Maria Bartiromo Speaks And No One Listens, Does She Make Any Sound?

Apparently the money honey is like the anti-EF Hutton. When she speaks, people space out.
As he passed through Grand Central Terminal last month, Dr. David Berman, a commuter from Westport, Conn., usually perked up when he heard the voice of Maria Bartiromo, the CNBC anchor, echoing through the main hall over the public announcement system.
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  4 Febrero, 2008| Economy | Comments (0) @ 21:05

Midday Tidbits — Earnings Look Ugly

Earnings expectations continue to deteriorate. As of the end of last week, Thomson Financial’s blended growth rate (which combines both those that have, and those that have not, reported quarterly results) stands at -20.7%, down from -20.5% a week earlier. As of the beginning of this week, 282 of the S&P 500 had reported results.
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  4 Febrero, 2008| Economy | Comments (0) admin @ 20:46

Jim Cramer’s Stop Trading

Stop Trading started with Jim telling us that ABB Ltd. (ABB) is a buy. This company does not have the same risky exposure to U.S. infrastructure. A look should be made to Honeywell International Inc. (HON). It is “Egypt Day” at the NYSE and Jim recommended SPDR S&P Emerging Middle East & Africa (G…
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  4 Febrero, 2008| Economy | Comments (0) @ 20:38

The Psychology Of Overregulation

We’ve been on a bit of a tear today about the politics of regulation. So why quit when we’re having so much fun with it? As we noted today, calls for additional regulation often depend on a double standard under which market process are characterized by imperfect information and dominated by self-interest while regulatory processes are somehow viewed as well-informed and public-minded. Why are people so attracted to regulatory solutions when despite the lack of evidence for concrete benefits?
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  4 Febrero, 2008| Economy | Comments (0) @ 20:20

Kedrosky vs. Greenberg: The Textual Replay

My friend Herb Greenberg and I had it (amicably) out on-air today about the bearish blogosphere (with a drive-by from Dennis Kneale and a doomed attempt at refereeing by CNBC’s Sue Herrera). Here is more or less how it went down, albeit with some, ahem, highly creative and totally self-serving paraphrasing from me: Sue: Paul, why do you have it in for Herb? Paul: Herb is a sweet fellow, and a great spotter of broken companies, but the blogosphere demonstrably skews bearish, and Herb is emblematic of that behavior. …
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  4 Febrero, 2008| Economy | Comments (0) @ 20:10

This Is War

I worked from home on Friday which was a damn shame because I missed a special delivery that came in a package marked “savory, vibrant, luscious & sweet” but, more pressingly, “PERISHABLE.” So I thought it was good fortune that someone not named Blarney had the good sense to put it in the fridge. I thought. After the jump, behold what a certain CNBC anchor and his goombahs sent to the office under the semblance of a gift. I see it more as a threat. Like the fish in the G…
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  4 Febrero, 2008| Economy | Comments (0) @ 19:53

Never Mind That Mortgage

For years — basically, since human beings gave up their nomadic existence for something more permanent — the idea of a family unit giving up its domicile willingly was just, well, unfathomable.
But that’s how far this housing crisis has gone now, a…
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  4 Febrero, 2008| Economy | Comments (0) @ 19:49

Are Bloggers Too Negative?

It doesn’t take rocket science to realize that when times are rough, financial related sites get spikes in traffic, whether bullish or bearish….
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  4 Febrero, 2008| Economy | Comments (0) @ 19:46

Biotech News Day (February 4, 2008) (AMAG, AOB, AMGN, CELG, MNTA, OMRI, SVA, STEM)

Below are some of the top issues affecting biotech shares today: AMAG Pharmaceuticals, Inc. (NASDAQ: AMAG), a biopharmaceutical company developing iron compounds to treat anemia, saw shares rise 4% to $56.00 after brokerage firm Robert W. Baird initiated coverage with an OUTPERFORM rating. American Oriental Bioengineering Inc. (NYSE:AOB) shares are down almost 7% at mid-day with relative high volume trading to $9.50 on no real news. Amgen Inc. (NASDAQ:AMGN) stock shows no reaction to deal with Japanese drug giant Takeda Pharmaceutical. Takeda is to purchase Amgen’s Japanese unit for up to $902 million plus royalties on sales in exchange for…
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  4 Febrero, 2008| Economy | Comments (0) @ 19:41

The Past-Due Loan Problem at American Express

Right now the Dow Jones Industrial Average is down 86.16 points, and American Express is down $1.51 per share. Given that the DJIA divisor is 0.123017848, that means American Express is responsible for 12.27 points of the Dow’s 86-point fall, or something over 14%.
But why is American Express doing so badly, and dragging down the Dow so much? The p…
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  4 Febrero, 2008| Economy | Comments (0) @ 19:41

Does a Bad Super Bowl Ad Keep You From Buying?

One of the biggest Super Bowl ad stumbles, according to blogs and media reviews, were two spots by InfoUSA’s Salesgenie.com. The Web site provides sales leads for customers, and small businesses are a key target audience.
More than half-a-dozen ad executives found the company’s animation spots offensive, according to a…
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  4 Febrero, 2008| Economy | Comments (0) @ 19:31

Can Barry Diller Even Focus on Earnings? (IACA, LINTA)

On Wednesday morning, we’ll get to see earnings out of IAC/InterActiveCorp (NASDAQ: IACI). Frankly, this one has more questions than answers today. We do not know if Barry Diller is going to be able to focus on results in the Q&A or if he is going to be discussing the Malone-Diller war as Liberty Media (NASDAQ: LINTA) CEO Malone has Barry Diller under fire. It’s amazing what a difference a year can make, because he was listed as one of our own “most entrenched CEO’s” at the time and his fate is currently more than uncertain. The estimates from First…
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  4 Febrero, 2008| Economy | Comments (0) @ 19:30

Dumb Enough To Buy The Brooklyn Bridge

Owning a toll bridge or a toll road would seem like a license to steal. It is, if you can get the asset at a good price. With real estate and financial assets going through a period as bad as any in 25 years, institutional investors are looking at infrastructure plays. And, funds are being formed to go after the same properties. According to Portfolio “Stanford’s Collaboratory estimates that more than 72 new infrastructure funds have been introduced since the beginning of 2006 and that more than $160 billion has been raised during that period for infrastructure investment.” With that…
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  4 Febrero, 2008| Economy | Comments (0) @ 19:25

Wall Street Loves Politics

As it turns out, Wall Street gave heavily to the Presidential campaigns last year, proving once again the axiom: “Make money in good times, make friends in bad.”

Leading all corporate donors in campaign donations as of the end of last year was investment banking giant Goldman Sachs, based on an analysis of Federal Election Commission records, the Center for Responsive Politics said.

The next four largest corporate donors were Citigroup, Morgan Stanley, Lehman Brothers and Merrill Lynch, according to the center’s fourth-quarter preliminary analysis, which is subject to revision….
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  4 Febrero, 2008| Economy | Comments (0) @ 19:08

White House vs. the Fed: the $280 Billion Disagreement

The economic assumptions underlying the Bush administration?s 2009 budget are broadly similar to those of other forecasters, other than for this year (because the forecast was prepared three months ago when the outlook was better). But they deviate from the views of the Federal Reserve in one key respect: the economy?s potential growth rate. If the Fed is right and the W…
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  4 Febrero, 2008| Economy | Comments (0) @ 19:08

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