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Citi About to Bear the Brunt of Moody's Anger
Submitted by Tyler Durden on 01/16/2009 21:27 -0400Tha company has been put under review for a downgrade by Moody's.... What can you say - always one step ahead of the crowd. Their Prime Rating is most at risk at A-2. If this gets whacked several notches, no more access to commercial paper... Oops
*********UPDATE**********
Moody's just downgraded Banc of America/Merrill Lynch senior rating to A1 from Aa3. Kinda like Lehman was rated A1 on the day of its bankruptcy.
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$100 Trillion Note Unveiled in Zimbabwe
Submitted by Tyler Durden on 01/17/2009 20:43 -0400
It has been 4 days since we demonstrated Zimbabwe's recently issued $50 billion note...
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Death Watch: Greece, and What Its Default Could Mean
Submitted by Tyler Durden on 01/19/2009 20:35 -0400
The biggest threat to the U.S. Obama rally and the miracle recovery proposed by Democrats in the $825 billion bail out package may possibly reside about 6,000 miles away in Greece.
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State Street Next Blowup?
Submitted by Tyler Durden on 01/20/2009 14:18 -0400State Street (STT) stock tumbled 33% in premarket trading (last at $24/share). The world's largest money manager for institutions said 2009 profit will be little changed from last year after Q4 earnings fell 71%. What is curious is that according to Bloomberg out of the 18 analysts who cover the stock, 9 have a buy rating, 9 have a hold and 0 are at sell...yup, good to see sell-side research ahead of the ball on this one too.
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REITs Next To Receive Bail-Out Funding?
Submitted by Tyler Durden on 01/20/2009 20:46 -0400REITs are in trouble. Let me paraphrase that - REITs are in very big trouble. These companies whose very existence presumes significant equity value in their underlying investments are feeling a lot of pain these days with commercial mortgages on the verge of a default tsunami.
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Breaking News: WSJ Reports Citi on Way to Dismantle Itself
Submitted by Tyler Durden on 01/13/2009 21:01 -0400
Whoa, busy day for breaking news
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Market in Free Fall
Submitted by Tyler Durden on 01/14/2009 15:32 -0400After news such as retail sales, Deustche Bank earnings, HSBC earnings, bad tiffany's news combined with a cut in guidance, a couple of ba
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And The Hits Keep on Coming
Submitted by Tyler Durden on 01/14/2009 22:27 -0400According to TrimTabs, record $148 Billion in Hedge Fund outflows in December.
Deleveraging may have a day or two to go.
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Death List Update: Six Flags On Defibrilator Alert
Submitted by Tyler Durden on 01/15/2009 19:44 -0400
According to sources, the indenture trustee on Six Flags' 12.25% Notes due 2016 has confirmed that a $24.5 million interest payment on the notes was made. This buys the company a whopping two weeks before it has to make its February 1 coupon payment on its 8.875% Notes due February 2010.
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More On The Secretive Frank and Charlie
Submitted by Tyler Durden on 01/16/2009 15:16 -0400
Good to see we are on to something. In our breaking expose from Wednesday we presumed that there is more than meets the eye with Frank DiPascali and Charlie Wiener, the other, heretofore secretive Lipstick building 17th floorites.
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HeidelbergCement Trying to Avoid The Cement Shoes
Submitted by Tyler Durden on 01/13/2009 21:30 -0400
HeidelbergCement, the world leader in aggregate production which over the past year has lost over 60% of its equity value, and one of the main holdings of recently deceased Adolf Merckle who got caught shorting Volkswagen (for a brief period of time the wo
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Galloway and Rattner Joining Forces to Make Sure All Well At NYT
Submitted by Tyler Durden on 01/14/2009 15:41 -0400
In a rather edgy back and forth between Michael Hirschorn of the Atlantic and Catherine Mathis, SVP Corporate Communications at the NYT, each one blames the other for calling the kettle black.
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Breaking News: Steve Jobs to take Medical Leave Until End of June
Submitted by Tyler Durden on 01/14/2009 22:36 -0400"Team, I am sure all of you saw my letter last week sharing something very personal with the Apple community. Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family,but everyone else at Apple as well. In addition, during the past week I have learned that my health-related issues are more complex than I originally thought.
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Market Not Sure Why It Is Rallying But Doing So Anyway
Submitted by Tyler Durden on 01/15/2009 20:06 -0400S&P posting a 20 point rally in past hour. Talking heads speculating this is due to expections of more taxpayer money about to come and bail everyone out via TARP 2 any second. This obviously did miracles last time around.
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More On The Secretive Frank and Charlie
Submitted by Tyler Durden on 01/16/2009 15:16 -0400
Good to see we are on to something. In our breaking expose from Wednesday we presumed that there is more than meets the eye with Frank DiPascali and Charlie Wiener, the other, heretofore secretive Lipstick building 17th floorites.
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- 1036 reads