Molycorp (MCP -15.3%) is downgraded to underweight at JPMorgan, whose Mike Gambardella unloaded on management in last night's earnings call. "I'm a bit shocked at this call because its seems to be a total disconnect from what the management is saying and what you put down in your outlook" regarding funding issues. (earnings) [View news story]
I see A LOT of short covering and squeeze on the horizon in this one.
Paul Krugman finds Mitt Romney's claim that Pres. Obama lost 2M jobs "deeply misleading," since the U.S. economy lost 3.1M jobs in the president's first six months but has since gained 1.2M jobs. Yet Romney takes credit for creating 100K jobs at Bain Capital “based on current employment figures, not the period when Romney worked at Bain." [View news story]
First off espousing opinions with such vile appears as the rantings of pusillanimous reprobates and is cause for sacrificing other contributions. Please stop. That said what confounds me is the shrinkage in public sector employment while the private sector at the same time seems to be showing signs of potentially facilitating sustainable job growth in the US. Isn't smaller government with sustainable industry driven employment what we all see as a solution to recovery? It seems that is what the President is doing. Perhaps not at the speed the right prefers.
The question is worth raising again: “Why, in the aftermath of a financial mess that generated hundreds of billions in losses, have no high-profile participants in the disaster been prosecuted?” Gretchen Morgensen's take suggests that the FBI, SEC and Treasury Department may have quashed attempts to be more aggressive. (earlier) [View news story]
The only people to blame is ourselves. The decay in the moral fiber of each of us individually through our vain attempt to keep up with the 'Jones' over time ultimately lead to this disaster. We all suffer from group think and mob mentality. No one is immune. Blaming those who you've recently discovered to have unbridled hubris is futile until you've looked yourself over really good in the mirror and asked yourself where your journey is taking you.
Office Depot (ODP) will restate its 2010 earnings after the IRS denied the company's claim to carry back certain tax losses to prior tax years. As a result, Office Depot's 2010 earnings will fall to a net loss of $46M from a net profit of $33M, and the firm will see a hit to FQ1 2011 operating cash flow. ODP -5%. [View news story]
It is time for the entire board to go. The ineptitude in leadership is astounding. Pinning their hopes on questionable NOL carry back is laughable at best. News alert .... 'hope' is not a tax strategy.
Former Fed chief Alan Greenspan talks the markets higher, saying we're finally seeing the "seeds of bottoming" in housing, and that it's "very easy to see" financial markets continuing to improve. Greenspan was one of the first to predict a recession in 2007. [View news story]
Molycorp (MCP -15.3%) is downgraded to underweight at JPMorgan, whose Mike Gambardella unloaded on management in last night's earnings call. "I'm a bit shocked at this call because its seems to be a total disconnect from what the management is saying and what you put down in your outlook" regarding funding issues. (earnings) [View news story]
Paul Krugman finds Mitt Romney's claim that Pres. Obama lost 2M jobs "deeply misleading," since the U.S. economy lost 3.1M jobs in the president's first six months but has since gained 1.2M jobs. Yet Romney takes credit for creating 100K jobs at Bain Capital “based on current employment figures, not the period when Romney worked at Bain." [View news story]
The question is worth raising again: “Why, in the aftermath of a financial mess that generated hundreds of billions in losses, have no high-profile participants in the disaster been prosecuted?” Gretchen Morgensen's take suggests that the FBI, SEC and Treasury Department may have quashed attempts to be more aggressive. (earlier) [View news story]
Office Depot (ODP) will restate its 2010 earnings after the IRS denied the company's claim to carry back certain tax losses to prior tax years. As a result, Office Depot's 2010 earnings will fall to a net loss of $46M from a net profit of $33M, and the firm will see a hit to FQ1 2011 operating cash flow. ODP -5%. [View news story]
Wall Street notices today's unusual rush in volume on 3Com (COMS) call options (highest since September 2007) before the after-hours announcement of the company's acquisition by Hewlett-Packard (HPQ). OptionMonster has a picture of November calls going for $0.65 at 11 a.m. today that should go to $2.90 tomorrow - 350%, nice work for a day. [View news story]
Former Fed chief Alan Greenspan talks the markets higher, saying we're finally seeing the "seeds of bottoming" in housing, and that it's "very easy to see" financial markets continuing to improve. Greenspan was one of the first to predict a recession in 2007. [View news story]