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  • Facebook (FB) decides to list its shares on the Nasdaq as the exchange claims another tech darling away from the NYSE. The IPO is expected to go off as early as next month - slated to be the largest offering since Google in 2004. NDAQ +1.1%, moving higher off the news reported by the NYT.  [View news story]
    IPO for GOOG was 2004, not 1994
    Apr 5, 2012. 02:11 PM | Likes Like |Link to Comment
  • Though it recently halted Chevy Volt production, GM says it will launch a new marketing campaign for the struggling plug-in hybrid in the next 30 to 60 days. CEO Dan Akerson says the new campaign will focus on customer testimonials and the Volt's safety record.   [View news story]
    Maybe throwing in a free government approved fire extinguisher with each Volt would help sales
    Mar 8, 2012. 09:33 AM | 4 Likes Like |Link to Comment
  • The Obama administration reportedly considers requiring sponsors of the Keystone (TRP) pipeline to reduce the project's environmental risks before it can be approved, which effectively would put off a final decision until after the 2012 election to temporarily avoid antagonizing either the unions that support the pipeline or the environmentalists who oppose it.   [View news story]
    This administration's motto seems to borrow from Mayor Quimby on the Simpsons - ducking this issue will call for real leadership.
    Nov 7, 2011. 01:54 PM | 9 Likes Like |Link to Comment
  • The U.S. needs more economic stimulus, Joe Biden says, the first remark by an administration official to signal Pres. Obama likely will unveil a broad-based plan next month to boost job growth and the economy. On S&P's (MHP) announced leadership change, Biden's "instinct" says pressure came from businesses angered by the U.S. debt downgrade.   [View news story]
    Too bad 'The Gong Show' is no longer around - the clowns in DC would have provided endless entertainment. It would be especially nice if we could simply bang on a gong to get them to go away.
    Aug 26, 2011. 01:54 PM | 1 Like Like |Link to Comment
  • Warren Buffett made $700M in the first 30 minutes of trading with Berkshire's (BRK.A +0.3%) investment in Bank of America (BAC +17%). His investment came with warrants to buy 700M BofA shares at ~$7.14 each - a $700M paper profit so far.   [View news story]
    Good for him - now let's see how eager he is to send a healthy portion of the gain to Uncle Sam
    Aug 25, 2011. 10:15 AM | 2 Likes Like |Link to Comment
  • The President today had a phone chat with Warren Buffett about the state of the economy and measures to spur investment and growth. The details of the conversation are unknown, but Buffett and his partner Charlie Munger were major advocates then and now of the 2008/09 financial bailouts.   [View news story]
    At this point, why not just consult a Ouija board or magic 8 ball?
    Aug 22, 2011. 03:16 PM | 2 Likes Like |Link to Comment
  • 6 Stocks John Paulson Is Wildly Bullish About  [View article]
    "...Altria has outperformed the S&P 500... every year since 2010" - I'm guessing either the year is a typo, or this is a strong contender for slow clap of the day.
    Jul 14, 2011. 09:51 AM | 1 Like Like |Link to Comment
  • Using a mobile phone may increase the risk of certain types of brain tumors, a World Health Organization report says, and scientific evidence suggests cell phone use should be classified as "possibly carcinogenic." Pending further studies, "it is important to take pragmatic measures to reduce exposure such as hands-free devices or texting."   [View news story]
    Does every study (regardless of subject) conclude with saying additional research (ie funding) is needed?
    May 31, 2011. 04:49 PM | 1 Like Like |Link to Comment
  • The silver lining from AIG's (AIG +0.5%) heavy losses: The insurer says it won't be paying much in federal taxes, which means funds for capital management, especially buybacks. Some of its $23B in deferred tax assets don't expire until 2030, the company notes as it preps a big offering.   [View news story]
    Only the government could create a tax system so screwy that GE, with its billions in profits, and AIG, with billions in losses, pay roughly the same amount of tax.
    May 6, 2011. 03:32 PM | 1 Like Like |Link to Comment
  • Many were quick to pooh-pooh the famously anonymous Apr. 11 $1M bet on silver puts - which is now worth a cool $7M thanks to the subsequent spike in implied volatility. "The investor didn't get this trade right," Andrew Wilkinson writes, "He or she got it spectacularly right." For others, "it could be a long day in hell before investors feel they can afford to trade silver again."   [View news story]
    Shouldn't that be a cold day in hell, rather than a "long day in hell"? It seems any day in hell would be long.
    May 6, 2011. 09:21 AM | 7 Likes Like |Link to Comment
  • FX markets yawn as Treasury Sec. Geithner defends the greenback, saying "we will never embrace a strategy to weaken the dollar ... our policy has been and will always be, as long as I will be in office, that a strong dollar is in the interest of the country."
      [View news story]
    "FX markets yawn..." I think laughing would have been a more appropriate response.
    Apr 26, 2011. 10:18 AM | 7 Likes Like |Link to Comment
  • After criticizing Goldman Sachs (GS -2.4%) for its actions during the financial crisis, Senate subcommittee chairman Carl Levin accuses the bank of misleading the panel and their clients, and says he will refer the testimony to the Justice Department for possible perjury charges. (previous)   [View news story]
    This is code for a larger campaign contribution will be required for Obama '12 than what was provided in 2008.
    Apr 14, 2011. 10:04 AM | 4 Likes Like |Link to Comment
  • Osiris: Opportunity Amidst Uncertainty  [View article]
    No positions in the stock, but this analysis seems overly optimistic.

    First, not mentioned was the "blow" Osiris took when the Phase 3 GvHD results were announced around Labor Day 2009 (down about 50%). To say the data were disappointing would be a gross understatement.

    Second, revenues are not growing from sales (there are none). Osiris is simply recognizing more of Genzyme's upfront payment.

    Third, short interest in the shares is relatively high and growing. The shorts certainly had it right going into the GvHD trial results mentioned earlier.

    Implying the low beta automatically translates into a stable investment is a dangerous conclusion. The company does not have a single marketable product, and there is hardly a guarantee Prochymal will be approved for GvHD. There is perhaps a better potential for an approval related to CD (I'm willing to give the company a pass on the CD trial design snafu), but this would be even farther into the future.

    I sincerely hope the company lives up to its potential, but a more sober assessment would be prudent for the prospective investor.
    Jan 27, 2011. 02:59 PM | 3 Likes Like |Link to Comment
  • New CEO Bob Dudley says BP's (BP +0.2%) rivals and the media had helped cause a climate of fear during the summer's Gulf well blowout, citing "a great rush to judgment by a fair number of observers before the full facts could possibly be known."   [View news story]
    I'm not sure what he gains by making this statement, but he does have a certain point (he could have included government officials as well).

    Here in NC, the local media was borderline hysteric promoting "scientific models" that showed how the oil would go into the gulf stream and ruin our beaches (just in time for the July 4th holiday, of course). Fortunately it never happened, and the media seemed somewhat disappointed.
    Oct 25, 2010. 10:10 AM | Likes Like |Link to Comment
  • Some iHubris in Apple's (AAPL) FQ4 press release: "iPhone sales of 14.1M were up 91% year-over-year, handily beating the 12.1M phones RIM (RIMM) sold in their most recent quarter. We still have a few surprises left for the remainder of this calendar year."   [View news story]
    The grammar in the PR is incorrect. It should read " ... RIM sold in its most recent quarter" since RIM is a singular company and not a plural. Maybe someone at Apple should use an iGrammar app.
    Oct 19, 2010. 12:47 PM | Likes Like |Link to Comment