The Ticker


July 2008


Garmin Goes Off Course

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No good news from the GPS maker.

1) Earnings: Excluding one-time gains, Garmin's earnings of 93 cents a share were well short of the $1 figure expected by Wall Street. Revenue of $912 million was way below forecasts of $956 million, and the company slashed full-year guidance to $3.98 billion in ...

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TAGS:
GPS
stocks

Investors See the Bright Side

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Markets may be hurting now, but investors think stocks will rally over the coming year, according to a new survey by asset manager Schroders.

The survey asked 507 investors with assets over $100,000 whether they predicted a positive annual rate of return over the next 12 months. Ninety-four percent ...

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TAGS:
investing
stock market

Auto Woes Hit Axel

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American Axel and Manufacturing Holdings (AXL) posted a loss of $1.33 a share, a good bit worse than the 95-cent hit Wall Street had predicted.

So far today, its shares are off almost 18 percent to $5.41 midday, and they've slumped more than 71 percent so far this year.

A strike hurt the parts ...

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TAGS:
stocks
car manufacturers

Tiffany & Co. and the Weak Dollar

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Ongoing weakness in the greenback (a euro is worth $1.57 at the moment, if you're keeping track) has been one of the factors optimistic economists point to as a source of support for a hobbled American economy.

Basically, even though the United States is in trouble, global growth is still ...

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TAGS:
trade
stocks

Now Back to the Consumer

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In the weeks between the March collapse of Bear Stearns and the latest crisis at Fannie Mae and Freddie Mac, there was barely time to get back to worrying about the economy's other big uncertainty: consumer spending.

It may be less dramatic than the bad news exploding out of the financial sector ...

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TAGS:
stock market
consumers
shopping

Fannie and Freddie Cut Back

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Analysts at Friedman, Billings, Ramsey are adamant that Fannie Mae and Freddie Mac won't be privatized. That's nominally good news for shareholders. The bad news? They'll each need to raise $10 billion to $15 billion in new capital to reassure investors.

FBR left its Underperform rating on the ...

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TAGS:
Fannie Mae
Freddie Mac
credit
loans

Wachovia Leads Banks Down

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Wachovia's Woes


Oppenheimer analyst Meredith Whitney cut the North Carolina-based bank to "underperform," blaming too-rosy valuations on the bank's mortgage assets. She called the outlook "bleak" for shareholders. Basically, the bank's current path means losses are rising as assets are shrinking,

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TAGS:
banking

Why the Fed's Job Is Hard

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Just a quick note on how tough it is to gauge the true direction of the economy and inflation right now, care of the WSJ 's latest survey of economic forecasters:

Of 53 economists surveyed, 22 said the Fed should be more concerned by economic weakness than inflation, while 21 said ...

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TAGS:
economy

Pickens' Plan

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Billionaire oilman and corporate raider T. Boone Pickens is taking his fight for American energy independence public today, outlining his plan to wean America off its $700 billion-a-year foreign crude habit.

"Our dependence on imported oil is killing our economy. It is the single biggest problem ...

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Fannie, Freddie Slam Banks

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It's a new sell-off, care of the usual suspects in the financial sector. This time, the culprit is the government-sponsored lenders.

Today's damage:

Fannie Mae (FNM) — Down 17 percent

Freddie Mac (FRE) — Down nearly 18 percent

The market is worried the pair won't be able to raise a combined $75 billion ...

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TAGS:
Fannie Mae
Freddie Mac

Beyond the Bear

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Stocks are warily eyeing a young bear market this afternoon (that's a 20 percent drop from October highs if you're keeping track), and analysts are watching to see if we're in for another leg down.

There's a good chance pain could worsen, given the litany of head winds facing markets right now,

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TAGS:
stocks
stock market

Gaming Becomes a Bad Bet

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Today's collapse of the huge $6.1 billion deal between Penn National and a handful of private equity firms is the latest in a round of bad news for gaming stocks. Fortress and Centerbridge Partners terminated the 13-month-old deal, likely finding their $67-a-share price a bit rich given Penn's ...

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TAGS:
games
stocks

Coal's Bad Signal to Stocks

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Coal stocks got absolutely hammered this week. If heavy selling continues, it matters for markets.

On Wednesday, Arch Coal (ACI), Massey Energy (MME), Foundation Coal (FCL), and others slumped 10 to 15 percent, followed by high-flying steel companies. They rebounded a bit today, leaving Barron's to

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TAGS:
coal
stocks

Solar Subsidy Mayhem!

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A reminder about investing today in the solar sector: It's not about technology. It's not about earnings. Right now, it's all about government largess.

Witness Spain's disappointing plans for 2009 subsidies. Basically, Spain is reportedly considering an aggregate subsidy cap of 300 megawatts on new ...

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TAGS:
stocks