Jimmy Goodwin
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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.
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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
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Latest Comments50 Comments
This Is What Happens When Everything Is Undervalued
This Isn't a Bottom, It's a Disturbance in The Force
No, but there's no need to lie in such a convincing way, fooled the same people that he was trying to help.
This Isn't a Bottom, It's a Disturbance in The Force
This Isn't a Bottom, It's a Disturbance in The Force
Apple's MobileMe Mess
News Flash: Major Market Turns Aren't Announced In Advance
Is There Still Hope for Sony?
Is There Still Hope for Sony?
OK, first of all, your title "Is There Still Hope for Sony?", then you go on to talk only about the Playstation 3, which is a small part of Sony's business, less than 15% of it in fact.
Second, your title is misleading, you point out Sony are failing to reach their potential, this doesn't translate into a company failing. Having great potential is a plus in my books. Their balance sheet shows Sony has had a turnaround, back on track and looking better than it has done in years.
You take Sony's strength's and potential strength's and turn them into negative's. Some how you make out that its a bad thing for a company to have the ability to leverage media to boost sales, have a monopoly over the increasing popular high definition disk, etc.
BTW, if you want to talk about the PS3.. Its looking better than ever, so why the negativeness? Production costs have come right down, slim version already in works, 'Home' on its way, Movies on demand just arrived, monthly sales overtaken Xbox and quality of games ever increasing.
PS3 should be dominating by now, but its not due to the mistakes you point out. I think everyone knows this by now, most of the weakness you point out are either solved or Sony have stumbled through and survived. Yes, they need to keep the ball rolling in this game of catchup and E3 was a worrying sign they are underestimating the continuous effort needed. That's what this article is mainly about, a little worry and living in the past. But don't worry, tense competition makes everyone, even the winners worry and feel a little nervous for the future. Its all good, PS3 is playing catchup and doing excellent, sales improving, everything improving, its turned into a wonder box, something we always doubted it could be. Its fantastic, but try not to get too emotionally involved, this will only lead you to sell at the slightest dip in the progression chart on its pathway to glory.
Countering the AP's 'E*Trade Financial Earnings Preview'
NYSE Short Interest Hits Record Highs... Again
NYSE Short Interest Hits Record Highs... Again
NYSE Short Interest Hits Record Highs... Again
I'm surprised it has been losing so little the past few days when compared to the market. The news coming out is the worst E*Trade could have hoped for. Could hit below $1 before ETFC even get to its results day.
S&P Upgrades E*Trade Despite Struggling Financial Sector Peers
Stifel Upgrades eBay to Buy
A Stockholder, and Merchant, Loses Confidence in eBay