great video of Americans converting gas cars to electric vehicles. the average cost is about $8,000 U.S.. People are getting 300 miles for about 5 dollars.
MarketWatch.com - Pre-Market Indications
Tuesday, July 22, 2008
excellent video exposing the link between the mysterious morgellons disease and chemtrails(the lines you see in our skies almost everyday).
YouTube - morgellons disease and chemtrails
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Looks like marc emery is going to prison for a minimum of 5-10 years. This man has brought relief to many people and has healed thousands with the medicinal properties of cannabis. If you do not know the healing properties of marijuana search my blog for the movie "run from the cure" where hemp oil is used to CURE cancer.
A very mixed earnings picture in the last twelve hours. Yes, AmEx, Apple, and Merck and Texas Instruments disappointed. But DuPont, Suntrust and Packaging Corp. were better than expected. But UPS hit the estimate, and Caterpillar's strong report helped turn the futures up at 7:30 am ET, though we are still down.
[WB 13.18 --- UNCH (0) ]as feared, slashed its quarterly dividend 86 percent, however there was no capital raise. The Golden West deal has turned out to be a mess, as there are large losses there. Down 9 percent. They weren't the only ones cutting the dividend. Regions Financial
[RF 10.40 --- UNCH (0) ]cut their dividend, to $0.10 from $0.38. They reported earnings below expectations, $0.39 vs $0.43 analyst estimate.
[KEY 11.50 --- UNCH (0) ]reported a loss, though not as great as expected. They had previously cut their dividend.
Bottom line: as expected, the regional banks are continuing to increase provisions for loan losses.
1) With the disappointment from AmEx
[AXP 40.90 --- UNCH (0) ], expect the rest of the credit card companies--Visa, Discovery, Capital One, Mastercard--to trade down, at least at the open.
2) Not great news for the communications sector this morning, as Texas Instruments
[TXN 28.52 --- UNCH (0) ] disappointing results and guidance below expectations, combined with Vodaphone cutting its revenue outlook, is weighing on the whole sector. Vodaphone and TI down 13 percent pre-open, Erickson trading down.
[CAT 73.23 --- UNCH (0) ] beat on top and bottom line, and raised full year guidance. Again, the mix of sales is continuing to move overseas: sales outside North America increased 30 percent, while sales in North America increased 7 percent. The 2008 guidance reflects "considerable strength in sales to the developing world."
[DD 44.05 --- UNCH (0) ]beat on top and bottom line, and raised their full year guidance slightly, though the gain seems to be coming from the beat in the second quarter. How much are higher costs hurting them? Local selling prices increased 7 percent, but energy, raw material and freight costs increased 15 percent.
5) Our parent company GE
[GE 27.69 --- UNCH (0) ]announcing an $8 billion joint venture with Abu Dhabi investing agency Mubadala Investment; says they see becoming one of GE's 10 biggest shareholders; stock trading up pre-open. CEO Jeff Immelt will be on "The Call" at 11 am ET.
[UPS 59.46 --- UNCH (0) ]came in in-line, but guidance had already been lowered. The new guidance for the full year is $3.50-$3.70, but they had given $3.90-$4.20 previously.
7) Friedman Billings Ramsey making an interesting call on Microsoft,
[MSFT 25.64 --- UNCH (0) ]noting that the current buyback is expiring, and urging the company to consider a leveraged buyout, which would take advantage of its $23 billion cash balance and be nicely accretive.
Earnings: Glass Half Empty Or Half Full? - Trader Talk with Bob Pisani - CNBC.com
the U.S. Dollar Index is trading 0.26% lower in pre-market activity. The weakening U.S. currency has given a boost to gold futures, as the August contract was last seen higher by $11.50 at $975.20 an ounce in London trading. Finally, crude futures are extending yesterday's gains surrounding Iran and Tropical Storm Dolly. The September crude futures contract was last seen higher by 32 cents at $132.16 per barrel.
In earnings news, Apple (AAPL: sentiment, chart, options) reported a third-quarter profit of $1.07 billion, or $1.19 per share, up from $818 million, or 92 cents per share, a year earlier. Revenue rose to $7.46 billion from $5.41 billion. Analysts were looking for a profit of $1.07 per share on sales of $7.36 billion. Chief Financial Officer Peter Oppenheimer said the company expects to earn $1 a share on $7.8 billion in revenue in the fourth quarter, below the current consensus estimates.
Also in the technology sector, Texas Instruments (TXN: sentiment, chart, options) reported second-quarter net income of $588 million, or 44 cents per share, compared with $614 million, or 42 cents, in the year-earlier period. Revenue was $3.35 billion, down from $3.42 billion. Analysts expected earnings of 45 cents per share on revenue of $3.39 billion. In pre-market activity, TXN was downgraded to "neutral" from "buy" at Merrill Lynch.
In financials, American Express (AXP: sentiment, chart, options) announced that second-quarter net income came in at $653 million, or 56 cents per share, down 38% from last year. The latest results include $600 million added to cover bad U.S. loans, another $136 million charge, and a tax benefit of $101 million. The results were well below expectations for a profit of 83 cents per share. "We do not expect to meet or exceed our long-term financial targets until we see improvements in the economy," Kenneth Chenault, chief executive, said in a statement.
Finally, Wachovia (WB: sentiment, chart, options) reported a second-quarter loss of $8.86 billion, or $4.20 per share. Profit was impacted by a $6.1-billion impairment charge on declining market valuations and asset values. The company also reported that it is reducing its quarterly dividend to 5 cents per share, allowing Wachovia to save $700 million in capital a quarter. Excluding items, WB lost $1.27 per share, versus expectations for a loss of 71 cents per share.
Opening View: Stock Futures Drop Following Poor Tech, Financial Earnings
Brocade To Buy Foundry Networks For $19.25/Shr
Brocade (BRCD) this afternoon announced a deal to acquire Foundry Networks (FDRY) for $19.25 a share, consisting of $18.50 a share in cash and 0.0907 shares of Brocade common stock. The company says the total value of the deal is $3 billion.
Brocade says the deal will be accretive to non-GAAP EPS in FY 2009, “with non-GAAP EPS accretion expected to accelerate” in FY 2010. The deal is expected to close in Q4.
The company said it will fund the deal with cash on hand at both companies plus $1.5 billion in debt financing via Bank of America and Morgan Stanley.
Foundry this afternoon reported Q2 revenue of $160.7 million and non-GAAP EPS of 17 cents; the Street had expected $153.5 million and 15 cents.
In after hours trading, Foundry shares have jumped $4.43, or 32.4%, to $18.09; Brocade shares are down $1.38, or 16.6%, to $6.95.
-being a mostly cash deal look for a flat line chart on fdry.
Tech Trader Daily - Barron’s Online : Brocade To Buy Foundry Networks For $19.25/Shr
Pre-Market Most Active Stocks - NASDAQ Premarket