Recent Articles
BlackBerry Tablet Could Compete with Apple iPad (RIMM, AAPL, GOOG, HP, PALM)
Just a couple of weeks ago, Mike Lazaridis, the co-CEO of Research in Motion Ltd. (RIMM), was asked if the company had any plans to build a tablet device to compete with the iPad from Apple Inc. (AAPL). He answered, "We went through this 20 years ago -- we have to ask ourselves what is the purpose of the technology." He noted that it was undoubtedly cool, but that it was aimed at a niche market.
Airlines Flying Higher (UAUA, DAL, CAL, LCC, AMR, ALK)
Last week's report from the US Census Bureau on retail sales for May showed a drop of about 1.2% from April sales. It was the first drop in retail sales since September 2009, a winning streak longer than any in the past 10 years. Suspected retail weakness may have gotten its first piece of empirical evidence this morning as Best Buy Inc. (NYSE: BBY) reported earnings for its first fiscal quarter of 2011 that were well below analysts' average estimates of $0.50 EPS on revenues of $10.9 billion. Best Buy reported EPS of $0.36 on sales of $10.8 billion.
Retail Sales Could Really Be That Bad (BBY, ANF, JCP, RAD)
Last week's report from the US Census Bureau on retail sales for May showed a drop of about 1.2% from April sales. It was the first drop in retail sales since September 2009, a winning streak longer than any in the past 10 years. Suspected retail weakness may have gotten its first piece of empirical evidence this morning as Best Buy Inc. (NYSE: BBY) reported earnings for its first fiscal quarter of 2011 that were well below analysts' average estimates of $0.50 EPS on revenues of $10.9 billion. Best Buy reported EPS of $0.36 on sales of $10.8 billion.
BP Debt Rating Downgraded Severely By Fitch
Fitch Ratings service has dropped its credit rating on BP plc (NYSE: BP) a breath-taking six notches, from 'AA' to 'BBB' this morning, and put the company on negative watch for additional downgrades. BP debt is now just two ticks above junk. According to Fitch, the ratings change is the result of the demand from the Obama administration that BP set up an escrow account to pay claims arising from the blown-out Macondo well.
CBOE IPO Debuts at High End of Price Range
The Chicago Board Options Exchange became the last U.S. member-owned exchange to issue stock to the public with its CBOE Holdings, Inc. (NASDAQ: CBOE) IPO.
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