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Wall Street Breakfast: Must-Know Newsby SA Editor Rachael Granby- Bank trio becomes duo. Wells Fargo (WFC) will become the largest U.S. bank by branches with its bid for Wachovia (WB), after Citigroup (C) withdrew from compromise negotiations late yesterday on concerns about the quality of some of Wachovia's assets. Wells Fargo, with a bid valued at $11.4B, expects the purchase to be completed by the end of the year, and denies it will have to absorb assets shakier than originally thought.
- Government considers next steps. As the financial crisis continues to worsen, the U.S. government is considering two dramatic steps to turn around, or at least slow, the damage: guaranteeing billions of dollars in bank debt and temporarily insuring all U.S. bank deposits. The moves, which would mark the government's most extensive intervention to date, are in discussion stages only.
- Credit stays frozen. As frozen credit markets refuse to thaw, the cost of default protection on corporate bonds reaches new global records amid investor concerns the credit crisis will trigger corporate failures as companies struggle to finance their businesses. Interbank lending remains limited, and borrowing from the Fed's expanded discount window continued its trend of setting new highs every week, as the total daily average rose to $420.2B vs. $367.8B last week.
- Oil demand withers. The International Energy Agency warned Friday worldwide oil demand...
- The Macro View -SampleSeeking Alpha - The Macro ViewMarket Outlook
- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
- Long Term, Financials Look Good by Michael Filloon
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Oil Price- Oil Below $75: Increased Chance of OPEC Production Cuts by Money Morning
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Economy- Long Term, Financials Look Good by Michael Filloon
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- Jim Cramer's Picks -SampleBetter Choices - Cramer's Lightning Round (10/15/08)by SA Editor Rachael GranbyStocks discussed in the lightning round session of Jim Cramers Mad Money TV program,
Wednesday, October 15.Bullish Calls:Continental Resources (CLR) -- "This is a remarkable decline. All of the high quality ones are down so much, I can't go against it. This is where you pull the trigger.
3M (MMM) -- The moment this stock starts yielding 5%, I'm a buyer. Until then, keep your powder dry.Bearish Calls:Computer Sciences (CSC) -- This is a company that was going to be bought, but they passed up the chance. Now I don't want to buy it."Email continues...
Annaly Mortgage (NLY) -- I think this is a business model that needs to borrow money. Definitively do not buy."
Northrop Grumman (NOC) -- You can't own the defense stocks right now. If I had to own one, I'd look at Lockheed Martin (LMT) with its good dividend. - Stocks & Sectors -SampleSeeking Alpha - Stocks & SectorsInternet
- eBay: Q3 Looks Good but Q4 Guidance Disappoints by Greg Feirman
- Is Google Feeling Lucky? by Sam Gustin
- Why Today Could Suck for Tech by Kevin Maney
Media- A Triple Financial Whammy Afflicts Newspapers by Ken Doctor
- Three Years On, Buying MySpace Looks Like One of Murdoch's Smartest Bets by Erick Schonfeld
- How Will Arbitron Fare in This Market? by Sreeni Meka
Telecom- Ten Ways to Invest in Louisiana by Stockerblog
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Financial- Switzerland Strengthens Its Banks; Short Interest Remains Low by Jessica Johnson
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- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
- USANA Health Sciences Inc. Q3 2008 Earnings Call Transcript
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India- Indian Economy Has Much to Cheer About by Equitymaster
- India: RBI Cuts Cash Reserve Ratio by Equitymaster
- India: Markets Continue Downward by Equitymaster
Japan- Sanyo Enters Thin-Film Market, Goes Up Against Sharp by Greentech Media
Asia- Four International Dividend Stocks to Watch by David Hunkar
Eastern Europe- Reality Bites As Stocks Continue To Collapse by The Mole
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- Seven Stocks for an Impending Apocalypse by H.J. Huneycutt
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- Too Early To Buy Homebuilders ETF by Larry MacDonald
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New ETFs- First Trust Launches Infrastructure ETF with Global Reach by Index Universe
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Emerging Market ETFs- Brazil Is the Best of BRIC by Carl T. Delfeld
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US Market- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
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Housing & Real Estate- Too Early To Buy Homebuilders ETF by Larry MacDonald
- Another 'Root Cause' That Isn't: Tumbling Home Prices by Tim Iacono
Transcripts- TrueBlue, Inc. Q3 2008 Earnings Call Transcript
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ETF- Too Early To Buy Homebuilders ETF by Larry MacDonald
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Latest Comments56 Comments
Tech Leads the Rally: Reason to Give Thanks, Or Dead-Turkey Bounce?
On Nov 27 12:52 PM Terry Huebert wrote:
> I'm holding off buying a new laptop until they get rid of Vista.
> That can't be good for Dell or Microsoft.
Paulson Trying to Rewrite His Own History
This tells you a lot about the arrogance of this man.
I'm not saying he's unintelligent...I'm saying he's got a seriously flawed character.
Putting the arrogant 35 year-old Neel Kashkari in charge of disbursing these funds is yet another example of poor judgement.
The waning days of the Bush admin. are turning out to be quite the swan song.
Peak Oil, Cars, and Depressions
Julian Robertson: Some Buying, but Bearish on the Economy
I wish Freud were alive, he'd appropriately diagnose the situation as wholesale "projection" with an unhealthy amount of "cognitive dissonance."
The Republicans blew up the system...and they are unwilling to take the blame.
Pretty typical for the Republicans, I'd say. And it's the reason the party is going down in flames in three weeks.
How Oversold Are We?
Instant Karma's gonna get you... ;-)
Solar Rises As Senate Adds 'Tax Extender' Legislation to Bailout Bill
fingers are crossed that the house approves the measure. i bought in big on solar yesterday in anticipation that the senate would vote "yea".
and they did!
so...good for my portfolio AND the environment.
just the way i like it.
Play the Bounce to Hedge Your Longs
I don't know how people who are all long are doing. Not well, I guess. This market sucks. It's made me a better trader...but I'd rather invest in fundamentals.
Coal Prices Set to Go Up
Look it up.
Boy, listening to you Republicans whine without checking facts is seriously annoying.
With regards to the prognosis for coal (or more specifically, coal stocks), I think only technical trading at this point suffices as sound investment advice.
Check out the chart for JRCC...and set your in/out points accordingly.
It's not difficult.
Right now the markets are a mess.
Fundamentals are out the window.
Looking for Hope
Obama vs. McCain: Who's Better for Dividend Investors?
The Republicans can vote for McCain. If he wins, they can stay in their gated communities until this country turns into a banana republic - with 1% controlling all of the wealth, and everyone else getting screwed.
And ronslim, your jab that Obama is a Marxist is pathetic. In any other country Obama's economic policies would be considered almost right-wing.
You want Marxism? Wait until enough people wake up and realize that the Republican party only PRETENDS to help the middle-class while actually screwing them over so they can transfer America's wealth to their rich buddies' tax-free offshore bank accounts.
As a member of the "investment class" I'm all for the free-market, but I sure as hell won't vote for McCain and 4 more years of criminal greed.
Obama/Biden '08.
AIG: Details of Its Punishing Bailout
So AIG is giving 80% of its common to the government? If so, how is giving stock to the government "dilution"? Or it's issuing 80% more stock to the government on top of it's common?
Thanks in advance.
5 Failures of SEC Chairman Cox
Any Republican who won't take the blame for his party driving this country into the ditch isn't worth talking to.
Stand up. Be a man (or a woman). You guys blew it - badly.
Now go to your room and let Obama/Biden restore the dignity to this country.
Hedge Funds May Have Gone Too Far
Who's your daddy now, Mr. Republican? It ain't the free market. It's the FED!
Managing Risk: A Probability Model
GS, MS: Do Wall Street's Independent Brokerages Have a Future?