24/7 Wall St.

Sirius XM (SIRI) And CBS (CBS) Pose Greatest Financial Risk Among Media Firms

247wallst — Fri, 13 Nov 2009 02:23:36 +0000

CBS (NYSE:CBS) and Sirius XM (NYSE:SIRI) pose the greatest investment risks among media companies based on a forensic measure of the transparency and statistical reliability of financial reporting and governance practices according to new data from Audit Integrity. The probability for bankruptcy for Sirius is 8.5% and 4.6% for CBS. Both numbers are remarkably low, but [...]

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British Air And Iberia: Airlines Return To The Center Of M&A Stage

247wallst — Thu, 12 Nov 2009 22:58:31 +0000

The rumor that US Air (NYSE:LCC) and American (NYSE:AMR) may merge is not so far-fetched today, or that Southwest (NYSE:LUV) might take over JetBlue (NASDAQ:JBLU). British Air and Iberia, the flag carriers of the two nations whose fleets met at The Battle of Trafalgar, will merge, creating one of the world’s largest airlines. BA shareholders will control [...]

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SIRIUS Losing XM Founder (that everyone forgot) (SIRI)

247wallst — Thu, 12 Nov 2009 22:01:59 +0000

SIRIUS XM Radio (NASDAQ: SIRI) announced that Gary Parsons has resigned as Chairman of the Board of Directors. The satellite radio giant has appointed Eddy Hartenstein, an independent director, to serve as non-executive chairman. An excerpt from Parsons’ farewell note was: “… we have begun to generate positive cash flow and have substantially improved our financial [...]

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Despite Many Drops, Disney Delivers (DIS)

247wallst — Thu, 12 Nov 2009 21:35:20 +0000

The Walt Disney Company (NYSE: DIS) is out with earnings and the report is a solid one compared to what we have seen elsewhere, yet it too saw mostly erosion in its business segments. For the quarter, the Mouse House posted $0.47 EPS compared to $0.40 in the prior-year quarter, but that figure had [...]

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52-Week High Club (COMS, AMD, PLA, BID)

247wallst — Thu, 12 Nov 2009 21:31:19 +0000

3Com Corp (NASDAQ: COMS) rose over 30% to a yearly high of $7.52 after Hewlett-Packard, the PC maker, announced plans to buy 3Com for $2.7 billion. Advanced Micro Devices Inc. (NYSE: AMD) rose over 20% to a yearly high of $6.73 after the announcement that the company would receive $1.25 billion from Intel Corp. (NASDAQ: INTC) [...]

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Government Deficit Expands To $176 Billion In October

247wallst — Thu, 12 Nov 2009 20:03:12 +0000

According the monthly Treasury report released this afternoon, the Federal Government posted a $176.4 billion deficit in the month of October. Total Government receipts came in at $135 billion. Of that $61.2 billion was attributable to personal income tax, down roughly $25 billion from the same period last year. There were net refunds to companies [...]

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Long-Bond Auction Conundrum

247wallst — Thu, 12 Nov 2009 19:00:04 +0000

Earlier today came the results from a highly awaited $16 billion 30-Year Treasury bond auction… the famed ‘Long Bond.’ The 30-Year yield went out to buyers at 4.469%, just over 0.04% or 4 basis-points, higher than what the when-issued bill had been trading at. In short, this was not exactly a high-demand auction. The bid-to-cover [...]

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Tech Giants Now Hold ~$265 Billion Cash To Spend (HPQ, COMS, INTC, AMD, MSFT, CSCO, AAPL, GOOG, ORCL, JAVA, QCOM, EMC, YHOO, DELL, AMZN, EBAY, ONT, BRCD, JDSU, STAR, VMW)

247wallst — Thu, 12 Nov 2009 16:31:17 +0000

You have already seen the Hewlett-Packard (NYSE: HPQ) buyout of 3Com Corporation (NASDAQ: COMS). But this week before that deal was announced we covered how mergers in the technology sector have been very slow to develop over the scale in which we and others think is possible for the sector. After the Intel Corporation (NASDAQ: [...]

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U.S. Oil Stockspiles Increase More Than Expected

247wallst — Thu, 12 Nov 2009 16:23:54 +0000

Today’s EIA Petroleum Status Report for last week shows oil inventories to have grown 1.8 million barrels. Many analysts expected the number to have grown by 1 million barrels. Oil futures were down ahead of the report, largely on the strength of the dollars. U.S. Oil Stock, January 1st 2009 through November 6th 2009 Weekly U.S [...]

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Corzine as Bank of America CEO? (GS, BAC)

247wallst — Thu, 12 Nov 2009 15:28:09 +0000

Jon Corzine recently lost the gubernatorial race in New Jersey. He is also a very wealthy Wall Streeter that is a former disciple of Goldman Sachs Group Inc. (NYSE: GS). He is also a democrat that is very friendly with the Obama administration. And now the strange rumor mill is getting stranger…. Charlie Gasparino on CNBC [...]

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