There was a time when quadruple witching expiration (the quarterly expiration of stock and index futures and options) was a big event; the Wednesday and Thursday before would often see very large volume and volatility. That doesn't happen anymore, for a combination of reasons, principally because traders spread their rollover trades over a week and a half now.
Elsewhere:
1) Merrill Lynch
| ||
2) Maybe it's not so bad with regional banks:
--Huntington Bancshares
| ||
--Not so fast. Ed Najarian and company at Merrill Lynch out with a long (56 page) note, cutting estimates for regional banks on higher loan losses and reserve building. It's not all bad news: bank stocks now appear to be in capitulation mode," the report says.
3) Continental Airlines
| ||
4) We have been talking about how the value of many used cars--particularly gas guzzlers--has been dropping rapidly, putting pressure on car dealers and consumers alike. A similar situation may be happening with leased vehicles.
Lehman Brothers out with a note saying that GM's
| ||
The report noted: "We expect deteriorating residual values of lease vehicles to be lower than original expectations, which could significantly impact loss rates that are already tracking above average for recent vintages."
5) You think it's tough in your business? Try being Winnebago, beset with high gas prices,
Winnebago beat on the earnings side, but revenues were short of expectations.
Listen to these stats from Winnebago:
--the motor home market has faced double digit retail sales declines for eight of the last nine months;
--retail sales declined 26.1 percent for the first four months of 2008;
--forecasts indicate volumes will decline to levels not seen since 1991.
Merrill Lynch Profit Warning Rumors: Consider The Source - Trader Talk with Bob Pisani - CNBC.com
No comments:
Post a Comment
Your spam will not get posted on my blog. No wizetrade spammers etc