Submitted by Optiondragon
Breathe - Telepopmusik
From Briefing.com
Media Digest 5/1/2008 Reuters, WSJ, NYTimes, FT, Bloomberg by 24/7 Wallst.
According to Reuters, bank analysts are concerned that Citigroup’s (C) decision to raise money signals more trouble ahead for banks.
Reuters reports that Starbucks (SBUX) will sharply cut the number of stories it plans to open in the US.
Reuters reports that Paulson says he supports the moves by the Fed.
Reuters writes that the Fed cuts rates by a quarter of a point but may pause now.
Reuters writes that Ebay (EBAY) tried to take a more active role in Craigslist while the online classified site tried to push Ebay out as an owner..
Reuters writes that the head of Activision (ATVI) believes that video console makers will cut prices.
The Wall Street Journal writes that GM’s (GM) results show its turnaround has problems in the US
The Wall Street Journal writes that Microsoft (MSFT) is still undecided about its potential takeover of Yahoo! (YHOO).
The Wall Street Journal writes that AT&T (T) will launch a mobile TV product.
The Wall Street Journal writes that Cablevision (CVC) may make a bid for newpaper Newsday.
The Wall Street Journal writes that Continental (CAL) is in talks with AMR (AMR) and BA about an alliance.
According to The New York Times “The F.D.I.C. proposed permitting the Treasury Department to lend $50 billion directly to as many as a million homeowners to help ease the housing crisis.”
The New York Times reports that Adobe (ADBE) plans to give away its Flash software for mobile devices.
The FT writes that Pimco has approached several Wall St. firms about hiring some of the people which they have laid off.
LVS reports Q1 EPS 7c vs. consensus of 36c.
Reports Q1 revenue $1.08B vs. consensus $1.24B.
Big miss by LVS look for some action here and sympathy moves from the gaming sector, WYNN, MGM, IGT.
BUCY announces two-for-one stock split
Bucyrus International announced that its board approved a two-for-one split of Bucyrus’ common stock in the form of a 100% stock dividend. The stock split will be effective May 27, 2008 for stockholders of record on May 13, 2008.
CNQR reports Q2 EPS of 8c vs. consensus of 11c
Reports Q2 revenue of $53.7M vs. consensus of $50.17M.
CNQR sees Q3 EPS of 7c vs. consensus of 12c
Sees Q3 revenue of $53M vs. consensus of $51.84M. Sees FY08 EPS of 20c vs. consensus of 47c, and FY08 revenue of $211M vs. consensus of $206.09M.
Fast Money position recap- Guy likes CSCO, Karen likes C, Pete likes CHK, Jeff thinks SBUX is a sell. Macke Owns (MSFT), (INTC); Pete Najarian Owns (AAPL), (NOK), (TSO), (XLF), (YHOO); Pete Najarian Owns (C) Calls, (CHK) Calls, (MSFT) Calls, (POT) Calls, (SBUX) Calls, (GA) Calls; Finerman Owns (GS); Finerman’s Firm And Finerman Own (HD), (KALU); Finerman’s Firm Owns (MSFT), (SBUX), (TSO), (VLO), (DVA), (SUN); Finerman’s Firm Owns (YHOO) And (YHOO) Call Spreads; Finerman’s Firm Owns S&P 500 Puts; Finerman’s Firm Owns (C) Leaps, Finerman Owns (C); Finerman’s Firm Is Short (IYR), (MDY), (SPY), (IJR), (IWM); Seygem Asset Management Owns (ITU), (NIHD)
Watching the action for the next couple days to gleam some info into the next market moves. Gartman is still thinking the commodities trade is dead for now. I am watching to see if that will hold true. I am watching for a rotation into tech to continue and for a possible breakdown in some of the commodity plays such as the Ag plays for confirmation of the unwind. I’ll be watching to see if the Fert names will hold yesterday’s low. If they do, they could be good long candidates, if it breaks look for further weakness, something to watch. I have been trading the 4 Horsemen and doing very well and will keep with that theme of tech, MA, V, GS, LEH, JPM, transports, steel and after earnings plays. I am looking for the passing of the torch to new market leaders so keep an eye out for them. Stay smart, keep focused, pick plays with high probability of success and great setups.
Good luck and great trading.
