Current Financial News

Liquidation Nation

http://blog.federatedmedia.net/archives/2007/12/picture-1.pngThought provoking article on Slate this week, enjoy

Circuit City, Linens 'n Things, and Sharper Image are gone. What company is next to go under? 

Earlier this month, Circuit City, the 567-store electronics retailing giant that filed for bankruptcy protection in November, announced it was going to liquidate. It's closing all its stores and laying off its 34,000 workers.

General Electric (GE): Dividend or Bust

General Electric Garbage Can TrashGeneral Electric (NYSE:GE) is down to $12.53, that makes for a 6 month decline of 57%Nice.  Profit fell 44%, 2009 will be "extremely difficult", and the stock now has a 9% Dividend yield.  So is it a bargain, or is it junk?

Zale Corp (ZLC) loses the family jewels

Zale Corporation (Public, NYSE:ZLC), retailer of overpriced fine jewely, has hit an all time low on Wednesday, dropping to just $1.42 a share.

Talk about a stock you don’t want to have in your portfolio during struggling economic times.

Jeff SpicoliWhat do they have in common? 
The last time jobless claims were higher was in 1982 and that takes us right back to Mr. Hand's Class when Jeff Spicoli said:
This is U.S. History, I see the globe right there.

Times are bad, but they are Fast at Ridgemont.

 

Bill Gates Early DaysBill Gates is not big pimping today like he did in the past, lying around counting his money.  Microsoft (NASDAQ:MSFT) shares are beyond their 10 Year Low today, trading now in the $17 range.  The company is letting 5,000 workers go and CEO Steve Balmer may be the next to go.

Apple Inc. Back to $89 a Share

iPod KamodeApple Inc. (NASDAQ:AAPL) beat Profit expectations and after-hours AAPL shares are up 8.5% to $89.  The iPod is still King and sold 22.7 million media players, up 3% and far exceeding Wall Street's expectations.

Yoda and Luke "You will be, you will be"

Bank of America (NYSE:BAC) and Citigroup (NYSE:C) shares are both up 13% after falling of the map yesterday. Fellow Stockmaster Eric Cheshier totally called this one in his article: Bank of America Shares are oversold. Hank Paulson is pulling a Luke Skywalker "I'm not afraid" of Citigroup Inc. and Bank of America Corp, the biggest U.S. banks by assets.  But the rest of the Nation is worried about the billions we keep throwing these Banks, and if Hank isn't afraid yet, to quote Yoda --  You will be, you will be.

AMD Reports on Thursday

yodaAMD Reports on Thursday, and as Yoda would say, "Death is a natural part of life. Rejoice for those around you who transform into the Force. Mourn them do not. Miss them do not. Attachment leads to jealously. The shadow of greed, that is." Let's get to the the earnings preview.

Randy Marsh, Obama ChangeTough day for the market as once again Citigroup (NYSE:C) and Bank of America (NYSE:BAC) take down the market and both stocks fall under $5 and change.  However, for President Obama and Change, well, Randy Marsh says it best.

Bank of America (BAC) shares oversold

Shares of Bank of America (BAC) are more oversold than tickets to the Obama Inauguration. Share price has floundered even lower during the last week, dropping below $10 a share to $5.97 in current trading.

The company, which earned $4 Billion in 2008, has aggreed to pay $475 to settle a class-action lawsuit filed by Ohio’s State Teachers Retirement System against Merril Lynch.