Current Financial News

Microsoft shares dissed by Ponytail Geeks

PonyTail Microsoft Geek PeesMicrosoft (NASDAQ:MSFT) shares have tanked 42% in the last 52 weeks.  With Zune issues, great XBOX sales, and Windows 7 on the horizon -- what do you make of it all?  When will the Microsoft Ponytail Geeks get some respect along with Steven Seagal?

The old saying "The rich get richer" proved to be false in 2008. But when you are a milti-billionaire, what's a few billion here or there?

 

  • Eddie Lampert, chairman of Sears Holdings Corp. (NASDAQ: SHLD), lost $5.0 billion. Shares of Sears are 62% lower since the beginning of the year.
  • Financier and activist investor Carl Icahn lost $5.1 billion. Shares of Icahn Enterprises are down 62% since January.

Obama has his work cut out for him this year, as the federal budget deficit will nearly triple to an unprecedented $1.2 trillion for the 2009 budget year, according to grim new Congressional Budget Office figures.

 

The eye-popping estimates reflect plummeting tax revenues because of the recession and about $400 billion spent to bail out the financial industry and take over Fannie Mae (nyse: FNM - news - people ) and Freddie Mac (nyse: FRE - news - people ). Last year's deficit was $455 billion.

 

Jeff Skilling - Go to Jail - EnronA U.S. appeals court upheld ex-Enron Corp. Chief Executive Officer Jeffrey Skilling’s fraud conviction today while ordering him resentenced due to a procedural mistake, a decision some experts said is unlikely to significantly change his 24-year prison sentence. Jeff looks good behind bars.

On Monday, Iron Mountain Incorporated (Public, NYSE:IRM) traded 33.04M shares, way above their average volume of 1.44M.

What’s going on?

 

On December 29th, IRM announced that the Company's common stock was added to the S&P 500 Index

Las Vegas Sands shares gain back 45% (LVS)

Las Vegas Casino - DeniroThe last three trading days have been huge for Las Vegas Sands Corp. (NYSE:LVS) shares gaining back 45%, to quote Robert Denrio from Casino (1995): In the casino, the cardinal rule is to keep them playing and to keep them coming back. The longer they play, the more they lose, and in the end, we get it all.

Got Gout? Check out Savient Pharma (SVNT)

The Food and Drug Administration accepted an application for Savient Pharmaceuticals Inc.'s gout drug pegloticase and will give the drug candidate a priority six-month review, Savient said Monday.

 

Savient said the FDA is aiming to complete its review of pegloticase by April 30, 2009. The intravenous drug is intended to treat cases of gout that have not responded to other therapies. The FDA accepted Savient's biologics license application based on a pair of late stage clinical studies.

No where to go but up in 2009?

The first trading day of 2009 started off with a bang today, everything is in the green. Don't get too excited though, check out this article from CNN money on the expected volatility in 2009:

 

Stocks are expected to start the recovery process in 2009, but volatility will remain with a big question mark hanging over corporate health.

Argus Research: Steve Jobs Lego Solid

Lego Steve JobsApple Inc (NASDAQ:AAPL) shares gained 6% as everything non-financial rallied today.  Wendy Abramowitz from Argus Research does not believe Apple CEO Steve Jobs’s health is deteriorating.  Off shares went to the races.

Stock Mastery: A Year in Review (2008)

STOCKMASTERY - theStockMasters.comAs 2008 comes to and end, let's take a look back at some of the Master's greatest hits for 2008. Enjoy:

January 

Best Stocks for 2008: Bargain shopping at The Men's Wearhouse (MW)
http://thestockmasters.com/mens-wearhouse.html

February 

Is Priceline (PCLN) a ticking Time Bomb?