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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.
- Oil demand withers. The International Energy Agency warned Friday worldwide oil demand...
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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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Long Ideas- Utilities Beginning to Generate Interest for Longs by Joe Kunkle
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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
- Is Google Feeling Lucky? by Sam Gustin
- Why Today Could Suck for Tech by Kevin Maney
Media- A Triple Financial Whammy Afflicts Newspapers by Ken Doctor
- Three Years On, Buying MySpace Looks Like One of Murdoch's Smartest Bets by Erick Schonfeld
- How Will Arbitron Fare in This Market? by Sreeni Meka
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
- Perfect World Announces Share Repurchase Program by Trader Mark
- China: Hot Money Inflows Down, Nervousness Up by Michael Pettis
India- Indian Economy Has Much to Cheer About by Equitymaster
- India: RBI Cuts Cash Reserve Ratio by Equitymaster
- 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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- The Electric Car Market: Wise Energy Use Stocks by Tom Konrad
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- ETF Daily -SampleSeeking Alpha - ETF DailySector ETFs
- 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
- Another 'Root Cause' That Isn't: Tumbling Home Prices by Tim Iacono
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 Comments42 Comments
Ban on Short Sale Ends - Hold Your Breath
On Board the 'U.S.S. Titanic'
E*TRADE Financial: It Was Good to Be Long
Now I'll get out of your way and let the pumping continue....lol
E*TRADE Financial: It Was Good to Be Long
An Open Letter to Congress on the $700B Paulson Bailout Plan
CEOs needed a way to keep showing blowout earnings for an investing public that wasn't happy with a steady 12% annual return anymore. Banks made bad loans through dishonest mortgage brokers to greedy homebuyers who thought they were going to get rich overnight. Now all of these people are going to be rewarded at the expense of the average working American who busts their ass everyday to make ends meet.
Putting blame for that expressly on the shoulders of one or two individuals is absurd. There's plenty of blame to be assigned here and this bailout just gives them all a free pass to do it again.
Credit Cards: Not Dead Yet
Obama Is Bad for the Economy - Barron's
Berkshire Hathaway: Like a Kid in a Candy Store
Cramer Continues to Dig a Sirius Hole for Himself
The Case for Jamba Juice
I was in and out of this stock in the 3s and took a small loss. Management has no plan to address the real problems....over zealous expansion into a market that is in the middle of the worst housing bust in ages and expanding competition. Until management has a plan for that and doesn't get surprised by a $200something million dollar charge again, I'll pass.
RBC Analyst: 300 Banks Could Fail [Housing Tracker]
Motorola, Nokia, Palm, RIM Suffering iPhone Headache
Motorola, Nokia, Palm, RIM Suffering iPhone Headache
Q1 Earnings 'Triple Plays'
How Long Will The WSJ Keep Its Pay Model?
Did it ever occur to you that the WSJ hasn't published your paper because it sucks? (And, before you start in, yes I went to your website and read it....) And it isn't that I think you're a complete crackpot....I agree with most of the topics you've put forth. However, your treatise is written in a form that smells of "late night college bull session after a 12 pack and a joint." Make it sound less like an internet rant and you might get somewhere.