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In the past two weeks, I’ve had two terrible customer-service telephone experiences, and one that was so good, I actually detained the rep to thank her.
The two downers — with my wireless telephone and my cable provider — were typical of what consumers hate about customer service. You get mired in a computerized maze of options, entering data only to finally get a live human being who asks for the same data and then can’t help you until you threaten to switch your service.
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6 February, 2008| Economy | Comments (0) @ 21:29

Cisco Meets, But Mum on Guidance (CSCO)

Cisco Systems, Inc. (NASDAQ: CSCO) has just posted earnings of $0.38 non-GAAP EPS on revenues of $9.83 Billion. First Call had estimates of $0.38 EPS and $9.79 billion in revenues. Net earnings after charges were $0.33, but Wall Street is still using that $0.38 numbers. The company did not offer guidance, but Chambers will likely issue that in his conference call. Next quarter estimates are $0.39 EPS and $10.2 billion in revenues. Estimates for fiscal year July 2008 are $1.59 and $40.34 billion in revenues. Chambers noted: “As we enter the second half of the fiscal year, our innovation pipeline…
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6 February, 2008| Economy | Comments (0) @ 21:14

Blog Roll — On Forecasting

A selloff such as the one experienced in markets yesterday tends to turn around over the next two weeks, notes Eddy Elfenbein on his Crossing Wall Street blog. “The average loss for the sell-off is 5.01%. After that, nearly every day is an up day. By the ninth day, the S&P 500 is down 3.48%, which is indeed, a retracement of about one-third,” he …
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6 February, 2008| Economy | Comments (0) admin @ 21:07

Recession Looms in Japan

According to the Cabinet Office?s leading index of business conditions….
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6 February, 2008| Economy | Comments (0) @ 21:00

Midday Tidbits — Value Traps

Merrill Lynch strategists say it’s too early to buy financials, as they can still be characterized as “value traps,” but the discretionary sector might be finally reaching an attractive level. “There are obviously many headwinds facing the consumer sector, and deterioration could be more protracted than in previous cycles, but our data suggest that we are well underway in a downward revision cycle and could be approaching the end,” writes Merrill quantitative strategist Savita Subramanian.
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6 February, 2008| Economy | Comments (0) @ 20:41

Solera Holdings (SLH) One To Watch After Strong Earnings

Today's SelfInvestors Leading Stocks Moving on Earnings
getting this out too late again.. one of those weeks

• Forrester Research (FORR) Research Services, fundamental rank [24/30], up 13%, making a move in the right side of a long base - one to watch for a base breakout

• Solera Holdings (SLH) Application Software, fundamental rank [23/30], up 5%, very nice […]
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6 February, 2008| Economy | Comments (0) @ 20:38

More Bad News At Macy’s, But Still Not At Lows (M)

Macy’s Inc. (NYSE: M) is seeing shares hold up better than you’d imagine if you would have gotten to see the news last week or even yesterday. Traders are still reacting to headline news rather than addressing the current environment and trying to figure out how much bad news should already be priced into stocks as we enter a recession. For starters, the huge department store’s same-store-sales came in down at -7.1%. Because of the one-week differential, its total sales were down over 28% to $1.275 Billion. But this 7.1% drop is even worse than its prior -4% to -6%…
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6 February, 2008| Economy | Comments (0) @ 20:25

Trade Of The Year: Reverse Margin Call

Trader Monthly’s annual Trade of the Year issue is out, and as you might expect the words “short” and “mortgages” are all over the top trades. The top short equity trade goes to Bill Ackman’s shorting MBIA while the top overall trade goes to John Paulson of Paulson Credit Opportunities for his subprime play, which Trader Monthly says may be the “greatest trade of all time.” (If you don’t have a subscription to Trader Monthly, you can read e…
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6 February, 2008| Economy | Comments (0) @ 20:25

Housekeeping: Pimps y Pervs

I’m not sure when or how we became the mouthpiece of gay pimp Billy Ash but apparently we are and all I’m saying is that we could all do a lot worse. As Mr. Ash’s representative, I’m supposed to tell you that he hosted a Mardis Gras party last night to benefit children with drug and alcohol problems in Seth Tobias’s name (pictures after the jump, as we have sponsors who threatened to pull ads if they saw “one more fat guy in a mask” to pander to). Ash will also be attending a mass service today for his old boss in San Diego, and all are welcome.
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6 February, 2008| Economy | Comments (0) @ 20:20

Independent Research and Blogs: A Quite Modest Proposal

Five years ago, Wall Street and the SEC reached the famous Global Settlement. This came as a result of the conflict of interest between equity research and investment underwriting. The settlement required funding of “independent research.”

The result has been a disaster and few people will admit it. Basically, n…
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6 February, 2008| Economy | Comments (0) @ 19:50

The ISM Fallout

Equity markets are recovering today from yesterday’s selloff, triggered by the stunning decline in a key index measuring activity in the service sector, but the aftershocks of that report are cropping up around the market, in analyst reports and corporate commentary.
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6 February, 2008| Economy | Comments (0) @ 19:46

Hot Ladies Talk Money With Bald Dudes

Hat tip: Barry Ritholtz.

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6 February, 2008| Economy | Comments (0) @ 19:29

SPAC IPO FILING: Apple Creek, Backed By Tricadia (AKU)

Apple Creek Acquisition Corp. is a special purpose acquisition company, or a SPAC, that has filed to come public. For filing purposes it lists that it intends to sell up to 25.875 million units for a maximum proposed amount of $258.75 million. The actual IPO filing is for 22.5 million units at a traditional price of $10 per unit, with each unit holding 1 share of common stock and 1 warrant with a $7.50 strike price. The company will list units on the American Stock Exchange under the ticker “AKU” after it begins trading. J.P.Morgan is listed as the lead…
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6 February, 2008| Economy | Comments (0) @ 19:19

Department of Irony

At the same time, Google is complaining about the Microsoft/Yahoo merger, Time Warner announces plans to split up AOL.

To add some context, check out t…
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6 February, 2008| Economy | Comments (0) @ 19:10

Was The Subprime Bubble Built On Borrower Speculation?

In the official version of the subprime mortgage mess, the villians “thousands of mortgage brokers who banked big bucks steering customers into subprime loans and the hundreds of mortgage traders and bankers at investment firms” who recklessly securitized the loans and sold them off to investors. Borrowers are typically portrayed as naïve victims of the mortgage bubble—save for a few actual fraudsters.

But what if the fraud was a lot more widespread than people think. According to a story in today’s Wall Street Journal—hidden from sight way back on page B 8—subprime speculation seems to have been fairly common.
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6 February, 2008| Economy | Comments (0) @ 19:10

New Zealand Unemployment Rate Falls to Record Low

Labour market much stronger than previously thought….
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6 February, 2008| Economy | Comments (0) @ 19:00

Best Idea of 2007: Shorting Mortgages

Thanks to the top-secret FT Alphaville RSS feed, I saw today that Sam Jones has revealed to the world Trader Daily’s top trades of 2007. There’s a "Trade of the Year", which unsurprisingly involves shorting mortgages, and then there are two runners-up. The first runner-up shorted mortgages; the second runner-up shorted mortgages. OK, I think we get the picture.
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6 February, 2008| Economy | Comments (0) @ 18:56

Top performing stock markets in 2007.

Let’s have a look at leading stock market indexes in 2007. Two hot emerging markets are missing among top 10. Commodities driven Lima Stock Exchange index IGBVL in Peru and Viet Nam Stock Exchange VN index. Especially Vietnamese index had nice bull run in 2006 since Vietnam entered World Trade Organization.Winner for 2007 is China CSI 300 even thought early on spring 2007 there was global sell of triggered just by China. About Ukraine I wrote in previous post. Index is mainly composed of large caps compared to others indices in emerging markets. Main topics for Sloveni…
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6 February, 2008| Economy | Comments (0) @ 18:44

Could Alcoa Be Driving Rio Tinto and BHP Apart?

addslashes(Could Alcoa Be Driving Rio Tinto and BHP Apart?

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6 February, 2008| Economy | Comments (0) admin @ 18:37

Exchanges Hit on DoJ Letter

Getting hit today in early action are shares of CME Group, along with intended target Nymex Holdings, after the U.S. Department of Justice called for an end to futures exchanges being permitted to own or control clearing functions.
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6 February, 2008| Economy | Comments (0) @ 18:33

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