Richard Bove Needs a New Abacus
Richard Bove says “Bank of America is going back to $35 a share as far as I’m concerned.”
Are you kidding me? This would put pre-dilution of common stock value at …
Latest News
Gold a Hold or a Fold?
SEPR’s SEP-225289 failed to meet primary efficacy endpoint & FDA puts Lunesta pediatric studies on hold. Citigroup cancels credit card deal with GE over price. European Central Bank likely to …
No More Half Ticks in Bond Futes
FRPT down 35% after loss of $1B contract to OSK (up 30%). Microsoft’s Bing slowly taking searches from Google. Aeropostale expects strong back-to-school season. American Apparel receives notice from ICE …
iPhone + Poor Network = Overpriced MP3 Player
Morgan Stanley upgrades TSL to Overweight; YGE to Equalweight. Treasury to unveil PPIP on July 1. Chain store sales up 1.6% vs. prior, up 0.6% YoY - ICSC/Goldman; down 4.3% …
Risks Still Loom
Solar Winds (SWI) being initiated by Jefferies, Thomas Weisel, Morgan Stanley, and Ladenburg, at Buy, Outperform, Overweight, and Buy, respectively. DFS upgraded by Keefe Bruyette, target raised to $14. China …
Fertilizer Biz in the Shitter
Potash Corp guides lower for Q2, all fertilizer stocks taking hit. Indonesia suspends Blackberry sales until RIMM opens local service center. Credit Suisse upgrades UBS. UK extends short-sale rules indefinitely. …
Hedge Them Dollars
IATA says global air passenger demand is down 9.3% in 2009 thru May. FSLR downgraded by Canaccord Adams. Alcoa upgraded by Citigroup. Coal miners PCX and MEE upgraded by Maquarie. …
Google Voice?
MON beats on net, misses on revs; reaffirms FY09 guidance pointing to low end of expected range. Ag/chem stocks up on MON results despite K+S reducing its 2010 potash market …
Goldman Denies There Will be Huge Boni Paid
ECB to offer unlimited one-year notes to stimulate economy. Boeing delays Dreamliner initial flight again. MS estimates lowered by FBR, cite TARP repayment, debt valuation adjustments, and real estate losses. …
Line at the Apple Store
Apple iPhone 3G goes on sale today. Zurich examining idea of reducing size of some Swiss banks. SEC looking into “dark pools”. ETFC offering: 435mm shares at $1.10. FBR downgrades …
Microsoft is the Big Brother Advertising Company
SNB plans intervention in fx markets to prevent further appreciation of Swiss Franc. FDO initiated at Outperform by Cowen. NBC to use MSFT technology to sell individual consumer targeted advertising. …
Buy Chinese Buy American
Potash stocks trade lower on weak European demand. Swiss government cuts outlook, expects contraction of GDP by 2.7% for 2009; widens stimulus plan. S&P lowers ratings on 22 large to …
Boeing Has Dreams, Crocs Has Pipedreams
Industrial production down 1.1% vs. 1.0% consensus; prior revised down two ticks; capacity utilization drops slightly, misses consensus by a tick. May housing starts 532 vs. 485 consensus; April revised …
AT&T and Apple and Oil and Vinegar
AT&T stores reportedly sold out of iPhone 3G pre-order stocks. Dollar rallies on comments by Russian finance minister. Lazard raises target on SPWRA to $40, YGE to $20, and SOL …
Transformers: Money in Disguise
Commodities and commodity stocks showing weakness as dollar shows strength, and with oil down solar follows. China industrial output up 8.9% vs. 7.8%. Japan confident with US Treasury purchases despite …
Fertilizer is the Shit
Stern Agee initiates coverage of fertilizer stocks; rates TRA($35 target), POT($150), & AGU($62) at Buy; CF($95) & MOS ($63) at Neutral. Unemployment initial claims 601k vs. 615k consensus, continuing claims …
US Attorney: Know When to Hold’em
MBA mortgage applications down 7.2%. HD raises 2009 EPS guidance, re-affirms revenue estimates; says worst of housing correction is over. BHP cuts coking coal price 58%. GOOG’s settlement with publishers …
Bossing US Banks Around Isn’t Enough
US chain store sales up 0.2% vs. down 0.6% in prior week, down 0.8% YoY - ICSC/Goodman; down 4.4% YoY - Redbook. Susquehanna raises AAPL target to $170, Credit Suisse …
Under the TARP
Citigroup may sell stake in HDB. FBR expects solar inventories to hamper Q2 earnings. US may have the coal reserved believed, but Energy Information Administration says most can not be …
RIMM for GRMN?
Personally I don’t think Garmin can survive on it’s own. For over a year now I have been saying Garmin should be buying Lojack (LOJN) Sirius XM (XMSR). The …
Nobody Shopping
Goldman raises it’s price target on oil to $85. CORS hire BAC to aid in sale. UK home prices up 2.6% in April. Oppenheimer target for AAPL raised to $160. …
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AIG Amazon Apple Bank of America beans Blackberry BNY Boeing broadband cbot China chlorine cme Continental Bank corn creed CSIQ Deere DreamLiner fertilizer FNFG FOMC GE Goldman Sachs Google iMac Indonesia iPhone Iraq John J Mitchell K+S Monsanto Morgan Stanley OECD PALM People's Daily pipedream Potash PPIP Russell SolarWinds SWI UBS UBSI west virginiaThe Art of the Spread - MS vs. GS
Long 5 shares of Morgan Stanley(MS) @ $26.25
vs.
Short 1 share of Goldman Sachs(GS) @ $134.50
Net cost: - $3.25
Can’t sell stock? Buy a deep put or sell a deep call for the GS leg.