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David White » Comments » AMD

  • Equities Update: Disappointment Drives the Train [View article]
    BAC may have soured the rally. The credit card charge off rates were just too high. The commercial mortgage business is still worsening, etc. The only really good performer seemed to be Merrill Lynch.

    GE missed on revenues. The market has gone into this earnings season looking for some positive revenue growth (not just cost cutting). GE was a big disappointment. A couple of billion dollars less revenue than expeected is significant.

    The SPY finished the day on a down note. This was yet another indication that a retracement may be coming. There are a lot of companies reporting next week. However, BAC and GE have set a definite down tone going into the week.
    Oct 17 03:05 am |Rating: +4 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Reuters:
    Moody's credit card charge off index rose to 10.76% in June.
    Moody's estimates that the credit card charge off rates will peak in mid 2010 at 12% to 13%. It estimates that the unemployment rate will in 2010 at 10% to 10.5%.
    Jul 22 14:39 pm |Rating: +2 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Some "Good News": Ford announced 14% y-o-y gains in car sales in China for the first 6 months of 2009. Total sales for that period were 197,212 units. China sales are only likely to grow in the near term.

    Ford also saw some increased profitability through Mazda (Changan Ford Mazda), which saw a 20% sales increase over the first 6 months of 2009.
    Jul 22 10:58 am |Rating: +3 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Correction on SPY: I read an incorrect article. The New York appointee to senator was Rep. Kirsten Gillibrand, a democrat (Reuters).
    Jan 23 13:35 pm |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    SPY: The European banking system is in near shambles at the moment. Both England and Spain are in serious trouble. Others are questionably far behind. All of the loans to emerging growth countries look like they are about to catch up with the Europeans. Specifically those countries will likely default on a lot of their loans if they cannot sell adequate exports. Does anyone think there is huge buying growth at the moment?

    Apparently the European banks are responsible for 40-50% of these emerging growth country loans. The US is responsible for far fewer. Still this cold is going to effect us too. A prime recent example is Aflac. Others will soon be getting hit too. The market indices in Europe are near or below their recent lows of late last year. It looks like they are heading lower in the near term. We are likely to follow. The Republicans in the Senate are said to be fighting the US stimulus package. In this vein, New York just appointed another Republican senator to replace Democrat Hillary Clinton. The hope of jobs from the stimulus package may be the only thing that is stopping a US markets meltdown. HOG and COF had terrible news today. Others weren't that much better. GE did okay, but there was still continuous bad news about their finance arm pulling them down.

    The trend in the US markets is still downward at the moment. Unless there is some very positive news out of Washington soon, it looks like it will soon pass through the DJIA 8000 support.
    Jan 23 13:18 pm |Rating: +1 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    COF: Currently COF is rising on low volume. AXP reports Monday. It seems likely to disappoint also. It looks to me like COF will be a good play to the down side for the near term. Please do your own research.
    Jan 23 12:26 pm |Rating: 0 0 |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Your data on COF are a little off. COF lost -$3.74/share in Q4, mostly on write-offs of what were supposed to be one time items. Without those items they lost -$.21/share when they were expected to earn +$.33/share. The designation of some of the items as one time write-offs is very questionable in my mind. Therefore I tend to view loss without one time items as larger.

    COF was downgraded by SunTrust.

    COF set aside another $1B for future loan losses. It seems likely that this will not be enough.

    S&P revised its outlook on COF to negative from stable. This may mean its credit ratings will go down in the near future. This is likley not good news for COF.
    Jan 23 12:19 pm |Rating: +2 0 |Link to Comment
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