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The 52-Week Low Club (UBS)(BX)(REDE)

UBS Ag (UBS) Swiss bank gets pounded on big write-off. Drops to $33.60 from 52-week high of $66.26. Blackstone (BX) Today is CEO Steve Schwarzman’s birthday. Happy birthday, Steve. Shares slide to $16.63 from 52-week high of $38. RedEnvelope (REDE) Quarterly loss takes shares down 50%. Makes new 52-week low of $1.63 compared to period high of $8.49. Allscripts (MDRX) Bad quarter and downgrades. Falls to $10.76 from 52-week high of $29.31. Netgear (NTGR) Ugly guidance. Sells off to $21.52 from 52-week high of $41.33. Nighthawk Radiology (NHWK) Some of company’s top management leave. Sells down to $11.52 from 52-week…
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14 February, 2008| Economy | Comments (0) @ 21:00

Tim Harford Replies

(February 14, 2008 12:54 PM, by Bryan Caplan) Check it out…….
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14 February, 2008| Economy | Comments (0) @ 20:54

The Hidden Costs of The Auction Failures

Unless you are in private wealth management, the term “auction rate securities” might be new to you. But over in the private wealth group, they’ve been treating these things as if they were cash. Clients were funneled into the bonds and told they were the most liquid investment short of actual cash. But yesterday the bond auctions failed in a dramatic fashion, leaving many investors in illiquid positions.

All that you can read in the Wall Street Journal today. But what the Journal doesn’t explain is that this investor liquidity is already having repercussions in the broader marketplace, including the stock market. Many individual investors would use the proceeds from the auction of their bond holdings to purchase equities. Now that they are locked into the bonds, they are effectively frozen out of the stock market. Brokers have told DealBreaker that many clients simply will not be able to purchase stocks until the market for auction rate securities begins operating again, and they expect this lack of purchasers will have a depressive effect on stock prices.
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14 February, 2008| Economy | Comments (0) @ 20:44

China Watch: Special Report on Baidu

addslashes(China Watch: Special Report on Baidu

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14 February, 2008| Economy | Comments (0) @ 20:36

How and Whether Cisco Helps Sub-Saharan Africa

One of the biggest sponsors of the World Economic Forum at Davos this year was Cisco. That’s entirely natural: Cisco is huge and global and powerful, which is all you need in Davos. And Cisco does its part to make the world a better place, too: more than 2 million students have passed through its Networking Academy Program, which has more than 11,000 academies in over 160 countries.
B…
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14 February, 2008| Economy | Comments (0) @ 20:36

Bringing ‘Great’ Things to Life

Kathryn Kranhold reports:
How great will the returns on General Electric stock be this year? Just listen to the company?s conference calls.
London-based analysts for Morgan Stanley have been tracking GE?s stock price against the number of times Chairman Jeffrey Immelt and Chief Financial Officer Keith Sherin use the word ?great? or ?greater? in investor calls. They found that incidence of ?greatness? rises, so does GE stock. T…
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14 February, 2008| Economy | Comments (0) @ 20:17

New Zealand Retail Sales Slow in December

But Kiwi household demand remains relatively solid….
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14 February, 2008| Economy | Comments (0) @ 20:00

Last Shall Be First in Idol Economics

Whether you’re applying for a job or hoping to land a major record deal with your soaring rendition of “Bridge Over Troubled Waters,” it?s worth taking note of a new study that finds those judged last, are more likely to be judged best.
“All the results show that it’s better to be at the end,” said Lionel Page,…
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14 February, 2008| Economy | Comments (0) @ 19:44

Jerome Kerviel As A Structural Problem

So how did Soc Gen’s infamous rogue trader get away with building up those huge positions? Joe Seet says the accounting control and risk operations from proprietary trading at many investment banks have serious inadequacies. It’s one part intellectual. The back office staff often lacks experience necessary to understand complex trades. And one part psychological: the back office is all too often awe of the traders. The problem, he warns, is not confined to Soc Gen.
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14 February, 2008| Economy | Comments (0) @ 19:42

If the Fed Keeps Cutting, Buy These Stocks

addslashes(If the Fed Keeps Cutting, Buy These Stocks

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14 February, 2008| Economy | Comments (0) @ 19:37

Nielsen Branding Shows Why Microsoft Wants Yahoo! in Google Fight (MSFT, YHOO, GOOG)

Nielsen has released its top aggregate sites by parent company for January 2008, and it starts getting even more clear why this super-merger on the web is being pursued. Below is the TOP 10 broken down by the related “parent companies”, and this combines “work and home” inside the U.S.: Unique Time Per Audience Person Parent (000) (hh:mm:ss) 1. Google 124,279 1:37:35 2. Microsoft 121,920 2:22:33 3. Yahoo! 113,874 3:19:43 4. Time Warner 104,837 3:57:38 5. News Corp. 75,831 2:02:49 6. eBay 65,758 2:04:37 7. InterActiveCorp 65,691 0:24:37 8. Amazon 59,833 0:27:47 9. Wikimedia 56,049 0:18:32 10. New York Times…
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14 February, 2008| Economy | Comments (0) @ 19:21

Advertising: Online Ad Spend by Industry (Jan 2008)

Here is the latest online ad spending breakdown, by industry, as of January of 2008. It’s definitely something that makes you go hmmmm, and not necessarily because of the continuing high spending by financial services outfits. [via M…
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14 February, 2008| Economy | Comments (0) @ 19:21

What’s Your Google Quotient?

You created a Web site for your business. You set up an e-commerce system to sell products online. You even created a blog. So why aren’t customers biting?
“You may have no GQ,” said Brent Leary at the Small Business Summit in New York this week. Mr. Leary is the co-founder of customer-relationship management-consulting firm CRM Essentials in Atlanta.
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14 February, 2008| Economy | Comments (0) @ 19:17

Bernanke Speaks, Market Shrugs

Ben Bernanke’s Congressional testimony isn’t causing much of a stir in the stock market — at least so far. The Fed chairman indicated that the central bank was keeping the door open to further rate cuts, saying that downside risks to growth remain from housing, employment and credit markets. The Federal Open Market Committee, he said, “w…
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14 February, 2008| Economy | Comments (0) @ 19:06

South Dakota Stands Alone

The Mount Rushmore state was the lone state to show a sales increase in the most recent quarter, according to data out this morning from the National Associations of Realtors. Existing home sales there rose 8.9 % from the same quarter a year ago.
The NAR reported that sales of existing single-family homes fell in 46 states during the October-December quarter, with metropolitan areas showing growing weakness. Sales were unchanged in North Dakota. No sales figures were available for Idaho, Indiana and New Hampshire. Median home prices fell in more than half of the 150 metropolitan areas surveyed. Out of the 77 that experienced declines, 16 showed double-digit percentage drops, the trade group said. The largest price declines were in Lansing, Mich., Sacramento, Calif. and Jackson, Miss.
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14 February, 2008| Economy | Comments (0) @ 19:04

Market Forces: Commodities Start 2008 on a High

With fresh records being set across most of the commodity complex….
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14 February, 2008| Economy | Comments (0) @ 19:00

China?s Money Supply Growth Reaccelerates

But Beijing may not further tighten monetary policy in the coming months….
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14 February, 2008| Economy | Comments (0) @ 19:00

Subprime & CDO Meltdown Worse than RTC/S&L Crisis

There is a new study out that has compared the current mortgage and subprime meltdown to the S&L and consumer crisis of the 1980’s that led to the creation of Resolution Trust Corp. (the “RTC”). The results are not promising for any optimists other than those named Pangloss. Navigant Consulting, Inc. provides business, regulatory and financial advisory services and it has released a study showing that the number of subprime-related cases filed in federal courts is already out-pacing the S&L crisis litigation in the early 1990’s. This study noted that that subprime cases in 2007 already equaled half of the…
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14 February, 2008| Economy | Comments (0) @ 18:37

One Liners: Quick Hits For A Quiet Valentines Day

• What Ben and Hank watched to get psyched up for today’s Capitol Hill hearing.

• Is MainStreet.com the worst idea ever?

• MBIA wants you to t…
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14 February, 2008| Economy | Comments (0) @ 18:36

Heaviest Online Video Users Visit Odd Sites.

A recent research report from comScore breaks video viewers into three groups. The “heavy user” group watched an average of 841 minutes of video per month. This group made up 20% of all people who watched video. Heavy viewers spend a great deal of time at odd and bizarre sites. The study noted Ouou.com, MegaVideo.com, and YouKu.com. The heavy users also spent time on YouTube, “Moderate users”, which made up the next 30% of the online video audience. They watched an average of 77 minutes of video per month and spent time on YouTube, just like everyone else. They favored…
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14 February, 2008| Economy | Comments (0) @ 18:36

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