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Can Staples Earnings Change The "going sideways" Path?

On Tuesday morning we’ll get to see earnings out of Staples, Inc. (NASDAQ: SPLS). The estimates for the office supplier from First Call are $0.47 EPS on $5.37 billion in revenues. Next quarter estimates are $4.91 billion in revenues. Estimates for fiscal Jan-2009 are $1.58 EPS on $20.88 billion in revenues. This last acquisition offer for Corporate Express (NYSE: CXP) is also going to be a key focus as this stock has been dead money. Analysts have an average price target north of $27.00 and Staples’ 52-week trading range is $19.69 to $27.00. On last look, this had just over…
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1 March, 2008| Economy | Comments (0) @ 12:16

Clearwire Earnings… Win, Lose, or Draw? (CLWR, S, MOT)

On Tuesday morning we’ll get to see earnings out of Clearwire Corporation (NASDAQ: CLWR). The estimates for the wireless broadband service provider from First Call are -$1.01 EPS on $46.13 million in revenues. Next quarter estimates are $51.52 million in revenues. Estimates for fiscal Jan-2009 are -$4.08 EPS on $269 million in revenues. With all the problems seen over at Sprint Nextel (NYSE: S), we’ll not consider anything a done-done deal. Even the stake from Motorola (NYSE: MOT) is hard to count as gospel as there has been hardly anything good up in Schaumburg, Illinois to report. As a reminder,…
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1 March, 2008| Economy | Comments (0) @ 12:01

Corporate Bankruptcies Likey To Take Sharp Jump (CHTR)(MNI)(JRC)(LVLT)

It should come as no surprise that companies which has taken on too much debt over the last three years will start to fail and have to file for Chapter 11. Some of the signs that this process is about to accelerate are starting to show up. “High-yield debt sales have sputtered so far in 2008 and are off to their weakest start in 17 years thanks to an anemic U.S. economy, a worldwide credit crunch and a pronounced absence of investor appetite for risky assets,” according to Reuters. While there is no saying which companies might face severe problems…
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1 March, 2008| Economy | Comments (0) @ 11:26

Venezuela Say Exxon (XOM) Asset Seizure Based On Fantasy

PDVSA, the state-owned oil company of crack-pot Hugo Chavez’s Venezuelan government, claims that Exxon’s (NYSE:XOM) seizer of $12 billion in assets is based on “fantasy”. Lawyers for PDVSA said that the claim “that PDVSA would try to hide its assets was not credible,” according to Reuters. The South American government has nationalized some of Exxon’s assets in the country and the US company is seeking restitution.There is little question that the Exxon property was taken. Now the battle is over what it is worth. Chavez is likely to wake up one morning and find the wreck of the Exxon Valdez…
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1 March, 2008| Economy | Comments (0) @ 11:01

News You Need: Dell, MBIA

addslashes(News You Need: Dell, MBIA

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1 March, 2008| Economy | Comments (0) @ 11:01

Why Policymakers Can?t Rely on Inflation Data

Revisions complicate the Fed’s job. But these can often be predicted….
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1 March, 2008| Economy | Comments (0) @ 9:00

Warren Buffett on Efficient Markets

Yes, Virginia, you can occasionally find markets that are ridiculously inefficient – or at least you can find them anywhere except at the finance departments of some leading business schools.
Amazon bonds:
For example, in 2001 and 2002 we purchased €310 million Amazon.com, Inc. 6 7/8 of 2010 at 57% of par. At the time, Amazon bonds were priced as “junk” credits, though they were anything but.
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1 March, 2008| Economy | Comments (0) @ 8:58

U.S. Economic Preview: March 3-7

More confirmation of a slowdown is on the way….
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1 March, 2008| Economy | Comments (0) @ 8:00

One of the Best Critiques of My Work

(February 29, 2008 10:27 PM, by Bryan Caplan) I just noticed that my former student Jeremy Horpedahl penned an awfully clever critique of my work almost a year……
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1 March, 2008| Economy | Comments (0) @ 6:27

Buffett’s Letter

Here’s the yearly Chairman’s Letter to Berkshire shareholders. It’s always worth a read.

Here are the letters going back 30 years….
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1 March, 2008| Economy | Comments (0) @ 5:09

Extra Credit, Weekend Edition

The MacBook Air chronicles #4: success with VMWare: "Someday a business historian will figure out whether Microsoft’s decision to release the obviously-unready version of Vista one year ago was a minor bump that will soon be forgotten, or instead a real strategic error, because of the customers it has alienated and spurred to look for alternatives."
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1 March, 2008| Economy | Comments (0) @ 5:00

A Look at Government Spending

Each year, the Congressional Budget Office releases its report on the federal budget which also includes historical stats. What I find interesting is that over the past 30 year, non-defense spending by the federal government, as a percent of GDP, hasn’t varied that much.

I don’t mean to say that it hasn’t varied at all—it certainly has. But the stats are much more stable than you would think if you went by political rhetoric.
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1 March, 2008| Economy | Comments (0) @ 4:52

Jim Cramer’s Lightning Round

BullishABB Ltd (ABB), CVRD (RIO), Cleveland-Cliffs (CLF), Quicksilver Resources (KWK) and Gushan Energy (GU).BearishOceanfreight (OCNF), RH Donnelley (R…
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1 March, 2008| Economy | Comments (0) @ 4:32

Turkish Wireless Play Turkcell

Cramer was out with bullish comments on Turkcell (TKC), the largest wireless carrier in Turkey. The company currently has a 58% market share in Turkey and Cramer says Turkcell is expanding into neighboring, less-penetrated countries, that offer high growth opportunities. TKC recently reported a better-than-expected quarter, beating estimates by 8 cents a share. Turkcell was helped by a weak U.S. dollar and reported profits up 44% on a 50% increase in revenues. Cramer says Turkcell is a buy both because of its growth as well as the fact that it is not constrained by the U.S. economic slowdown. Cramer said buy TKC when it dips under $24….
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1 March, 2008| Economy | Comments (0) @ 4:28

XM-Sirius Merger Talk

Cramer welcomed Democratic Congressman Gene Green from Texas to the show to discuss his opposition to the proposed merger between Sirius Satellite (SIRI) and XM Satellite Radio (XMSR). Green said the merger would create a monopoly in the satellite radio industry, a scenario the Federal Communication Commission attempted to avoid when it issued licenses to the two companies. The FCC stipulated that they had to remain separate and provide consumers with choice. He compared the S…
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1 March, 2008| Economy | Comments (0) @ 4:20

Game Plan: Cramer Loves The Visa IPO

“In every bear market there is a silver lining,” Cramer said Friday. In the current bear market, Cramer thinks the silver lining may be the upcoming initial public offering of Visa (V). Cramer compared the Visa IPO to MasterCard (MA) which came public last year. Since MA came public the stock has gone up 313% and Cramer thinks Visa could put in a similar performance. C…
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1 March, 2008| Economy | Comments (0) @ 4:09

Warren Buffett: No Foe of Sovereign Wealth Funds

Warren Buffett, in his annual letter to shareholders:

There’s been much talk recently of sovereign wealth funds and how they are buying large pieces
of American businesses. This is our doing, not some nefarious plot by foreign governments. Our trade
equation guarantees massive foreign investment in the U.S. When we force-feed $2 billion daily to the rest
of the world, they must invest in s…
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1 March, 2008| Economy | Comments (0) @ 4:00

CEO Interview Agnico-Eagle

Cramer welcomed Agnico-Eagle (AEM) CEO Sean Boyd to the show Friday. Boyd explained that the AEM is about to open five new mines that will increase their 2007 output five-fold. He predicted that AEM will go from producing 200,000 ounces of gold to 1.3 million by 2010. Boyd said several factors could take gold to as high as $1600 and those factors included limited supply, increased demand and the weakening dollar. “Agnico-Eagle Mines is for me,” Cramer said….
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1 March, 2008| Economy | Comments (0) @ 3:57

Fast Money Recap: Miami Advice

Word On The StreetWord on the Street video.Miami: Latin America GatewayLatin money was the focus on the show tonight and this comes through the Miami. This is the bridge to one of the best investment opportunities on the planet right now. The developing world needs oil, ethanol and food. Companies like Brazil’s Petrobras (PBR) and Argentina’s Tenaris (TS) have the oil that is needed. Look at Latin American banks says Seymour. Banco Itau (ITU) or Banco Bradesco (BBD). You can also look to Bancolombia (CIB). Another play is Vale (RIO) or PBR for commodities. Macke is more skeptical, he does not see strength staying in emerging markets with the U.S. economy having so much weakness….
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1 March, 2008| Economy | Comments (0) @ 2:38

Wine Datapoint of the Day

Krug’s new single-vineyard Champagne, the 1995 Clos d’Ambonnay, will sell for between $3,000 and $3,500 a bottle. And it will sell all 3,000 bottles with ease; indeed, the price will be higher on the secondary market than it is on the primary market. Meanwhile, 2005 clarets are selling, in some cases, for well over double the price of their 2004 counterparts, and it’s not at all clear that the quality of the vintage justifies the price hike. But global demand for Bordeaux is relentless, and then of course there’s the falling dollar as well.
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1 March, 2008| Economy | Comments (0) @ 2:03

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