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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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- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
- Long Term, Financials Look Good by Michael Filloon
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Oil Price- Oil Below $75: Increased Chance of OPEC Production Cuts by Money Morning
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- Jim Cramer's Picks -SampleBetter Choices - Cramer's Lightning Round (10/15/08)by SA Editor Rachael GranbyStocks discussed in the lightning round session of Jim Cramers Mad Money TV program,
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
- eBay: Q3 Looks Good but Q4 Guidance Disappoints by Greg Feirman
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Media- A Triple Financial Whammy Afflicts Newspapers by Ken Doctor
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Telecom- Ten Ways to Invest in Louisiana by Stockerblog
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Financial- Switzerland Strengthens Its Banks; Short Interest Remains Low by Jessica Johnson
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- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
- USANA Health Sciences Inc. Q3 2008 Earnings Call Transcript
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India- Indian Economy Has Much to Cheer About by Equitymaster
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- India: Markets Continue Downward by Equitymaster
Japan- Sanyo Enters Thin-Film Market, Goes Up Against Sharp by Greentech Media
Asia- Four International Dividend Stocks to Watch by David Hunkar
Eastern Europe- Reality Bites As Stocks Continue To Collapse by The Mole
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- Seven Stocks for an Impending Apocalypse by H.J. Huneycutt
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- Too Early To Buy Homebuilders ETF by Larry MacDonald
- Utilities Beginning to Generate Interest for Longs by Joe Kunkle
- Two Global Infrastructure Investment Opportunities in ETFs by Investment U
New ETFs- First Trust Launches Infrastructure ETF with Global Reach by Index Universe
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Emerging Market ETFs- Brazil Is the Best of BRIC by Carl T. Delfeld
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US Market- An Outcry from Emerging and Developed Markets Alike by Jonathan O'Shaughnessy
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Housing & Real Estate- Too Early To Buy Homebuilders ETF by Larry MacDonald
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Transcripts- TrueBlue, Inc. Q3 2008 Earnings Call Transcript
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ETF- Too Early To Buy Homebuilders ETF by Larry MacDonald
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Latest Comments170 Comments
Obama's Green Obsession: More Harm Than Good?
Let's throw billions at renewable energy and witness one of the largest corporate welfare gives ever.
1) Renewable energy is profitable. Read a frigging 10k/q for the solar guys. NO handout needed.
2) Renewable energy is an transitory system. Lets give millions (or was it billions) of jobs to a system that will displace them within 24 months. Nice planning. How many guys will it take to build and install windmills? How many guys and how long will it take to install solar panels when we have even one of the hundred breakthroughs these guys keep talking about? Energy density delivered will lower time and cost of install to a fraction of today's time.
Hire a million guys. Sixteen months later, one of these new gee whiz things hits and now we lay off 950,000 guys. Brilliant.
It's all politic speak. Combine hiring tons of people with the word green and even the dumbest guy could get laid.
And another thing for all you "Manhattan Project" types. Earth to dreamers -- Earth to dreamers, WE ALREADY HAVE A MANHATTAN PROJECT! It's been going on for three years and take one look at private capital through the venture capital community deployed. Incredible numbers. Never trust anyone that says we need another "Manhattan Project" They clearly are behind the curve.
All Obama and his people need to do is remove the incentives. The renewable companies will then be forced to compete and the price will plummet per installed watt. Then and only then will the much vaunted green revolution arrive.
Get with the picture people...
5 Reasons Why the $700B Bailout Could Translate to $250 Oil
Peak Oil is a scam.
Demand destruction is permanent.
21st Century energy technology is COMING!
China and India demand is a complete distortion.
To base a thesis on ill founded trading theory and outlier trading days signifies someone not steeped in the market being commented on.
Really terrible... $250 ppbl... c'mon...
Bring Back the Uptick Rule
Yep that will do it. Everybody happy shiny again....
Lol...
5 Stocks to Buy if Obama Wins
Moreover, you do realize he has taken more money from the nuclear energy industry than nay other politician -- ever, and Illinois has more nuclear power plants than any other US State. I think you listed GE for the wrong reasons...
LDK Solar: A New Business Model
A. I suspect it is due to the fact that LDK is a very new kid on the block, and not well covered in the US publications.
Huh???? How about all the media coverage it got back last year? TONS of coverage but all the wrong kind...
IAM PHREE... cute. That implies a value of zero.
Forget $100 a Barrel - Oil Will Plummet to $30
Lol...
Forget $100 a Barrel - Oil Will Plummet to $30
Or you come out the other end with your pants on your head. This is now a necessity. I never trusted that damned thing anyways...
With Help from California, Solar Gets Fired Up
lol... seriously...
And BTW. The CA solar plan ($3.2bn) takes money every month directly from the disadvantaged and poor to pay for overpriced PV systems for rich homeowners. Fact. And that part isn't lol.
Recapping My Great Calls on Oil
I really like the $500 ppb 2014 schtick...
lol...
Eye on Currency Impact and ETFs
lol...
Monday Options Update: XLF, XLE, FRE, FMD, HPQ, XOM, STM, ZMH
"For those uninformed,Interactive Brokers Group is soon to file for Chapter 11 bankruptcy protection"
Proof. Please tell us all in detail immediately. Post links to documentation and to verifiable information. Opinion doesn't count.
Magazine Covers as Contrarian Indicators
Private Jets.
Says who? Look at the premium you need to jump to the front of the delivery line for any number of small to medium size private jets. The only place I know of taking immediate deposits are on some of the larger planes like the Falcon 7x and the Global Express. The G650 is dear but can be found. Maybe the fractionals are slowing but people still want the private jet.
Forget $100 a Barrel - Oil Will Plummet to $30
Weren't you all saying something like this?
"Idiots have no idea how anything works at anytime under any circumstance! Don't you know we have PEAK OIL and CHINA & INDIA which now have 50 trillion middle class people that all want SUVs and swimming pools! Face it, America is over and China (or maybe Bangladesh -- newbie Du Jour) will soon be kicking out your local Starbucks so they can put in a new steaming dog restaurant!"
What a bunch of suckers. I'm glad you exist. I need a new Ferrari. (Rosso Corsa 599 GTB with alternating red over black stitching thank you very much) Notice I said new...
U.S. Geothermal, Inc: A Solid Geothermal Pure Play
Nobody seems to know for sure but people are spooked, which, as you can imagine isn't good for business...
Crude Oil: What Goes Up Must Come Down?
Well I'll posit we are at (or damned close) near peak demand. The tired ol "India & China" story is well -- tired. Spend one single afternoon looking at innovation coming on stream from about 1,000 different directions funded to the tune of billions and driven by some of the smartest people you haven't yet met.
The company(s) delivering game changing energy solutions will make Google look like a rounding error...