Seeking Alpha |
September 5th, 2008 |
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We have seen a few warnings lately about the price drop of solar panel in 2009. The latest one is from Sunpower Corp. (SPWR). CEO Thomas Werner warned of a price drop of 10-20% in 2009. Citigroup analyst Arcuri also warned of a price drop averaging 15% in 2009. So [...]
Chicago Tribune |
September 5th, 2008 |
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In an ongoing effort to revitalize its Midwest flagship store, Macy's on State Street is moving men's accessories and dress shirts to the first-floor arcade space, marking the first time in more than five years that the expansive corner will house a permanent department.[...]
Financial Times |
September 5th, 2008 |
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Kookmin Bank won approval to push ahead with its plan to set up a holding company, a move that will help South Korea's largest retail lender use its capital more effectively for further acquisitions[...]
FT Alphaville |
September 5th, 2008 |
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The market clearly doesn't know. As of mid-morning on Friday, Barclays had fallen 14 per cent since the ECB confirmed on Thursday afternoon that it would substantially tighten the collateral terms and haircuts for its various lending operations. RBS is down 13 per cent - threatening once again to fall [...]
Seeking Alpha |
September 5th, 2008 |
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Sept. 4 (Bloomberg) – Moody’s (MCO) Investors Service said it may cut the ratings of €854 million ($1.2 billion) of constant proportion debt obligations after disclosing a second error in the way it assesses the securities. Moody's review was “prompted by the identification of a coding error in a model [...]
Seeking Alpha |
September 5th, 2008 |
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I am forecasting that General Motors (GM) will be the next American icon to be unceremoniously banished from The Dow Jones Industrial Average [DJIA]. The Dow is a benchmark of 30 stocks that serve as a gauge to the performance of the overall United States stock market. These equities are [...]
The recent market turmoil has been marked by substantial selling in a handful of concentrated areas, particularly resource-related stocks such as coal and oil-and-gas producers. This week's declines have come at the expense of hedge fund managers, many of whom had bet on integrated oil-and-gas companies and other power producers. [...]
Seeking Alpha |
September 5th, 2008 |
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It’s hard to read the WSJ these days without hearing something about buybacks. Exxon (XOM) absorbing $102 billion, Citigroup (C) spending $8.3 billion and even Coach (COH) buying back $1 billion. Stock buybacks or share repurchases are known to have powerful effects in building shareholder wealth. To many, it’s often [...]
Wachovia's securities unit named Craig Overlander, formerly co-head of Bear Stearns's fixed-income group, as managing director and global head of fixed income.[...]
SF Chronicle |
September 5th, 2008 |
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New vehicle prices are falling at the fastest rate ever recorded, a team of analysts said Thursday, squeezing automakers' profit margins at a time of slumping sales but setting the stage for a sales rebound once the economy improves. JPMorgan Chase & Co.[...]
Royal Bank of Scotland has moved to reshuffle management of its Australian businesses after failing to offload the south Pacific arm of ABN Amro.[...]
Seeking Alpha |
September 4th, 2008 |
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In July Wells Fargo Increased Dividend 10 Percent."This increase, which reflects the Company's performance and our confidence in its long-term growth, is possible because of our time- tested vision and values, diverse business model and our talented team that collaborates so well as One Wells Fargo to satisfy all our [...]
Seeking Alpha |
September 4th, 2008 |
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Barclays Capital announced today, August 4, a new ETN that bundles eight Asian currencies tied to their GEMS Asian 8 Index. It trades under the symbol AYT. Similar to their GEMS Index, which I covered in my August 13th article, "Carrying the Dollar Upstream", the new ETN narrows the focus from [...]
FT Alphaville |
September 4th, 2008 |
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HBOS - 7.5% BARC - 5.8% LLOYDS - 5.5% RBS - 4.5% STAN - 4.5% The ECB has boosted its haircut. It's perhaps the first big signal that the central bank cash-flow spigot is being turned off. From Bloomberg: European Central Bank President Jean- Claude Trichet said the ECB will [...]
Barrons |
September 4th, 2008 |
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Marvell (MVRL) shares are down sharply again today, pressured this morning by Deutsche Bank analyst Arnab Chanda, who cut his rating on the stock to Hold from Buy. He cut his target price on the stock to $15 from $20. "Following checks with industry contacts, we believe Marvell’s is not [...]
Rob Curran of Dow Jones Newswires reports: U.S. stocks initially rallied Tuesday, in a reflexive response to oil's sharp decline. But data on manufacturing in the U.S., along with a grim prognosis from the British financial minister underscored the motivation for commodities steady retreat since July. While investors are grateful [...]
Most prominent energy names struggled Wednesday, but one subsector had a banner session: refiners. Led by speculative options activity in Frontier Oil, major refiners ended the day sharply higher. Frontier rose 9%, Tesoro Corp. gained 8%, and Valero Energy rose 5%. Refiners struggled in the latter stages of the run-up [...]
Citigroup is hiring Wall Street veteran Alberto Cribiore to join its investment-banking division.[...]
Barrons |
September 4th, 2008 |
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Marvell (MRVL) said in a statement issued to Tech Trader Daily late Wednesday afternoon that it did not provide investors with new guidance in its one-on-one meetings with investors at the Citigroup technology conference earlier in the day, but that its statements were consistent with its concerns about the softening [...]
