Friday, July 24, 2009

Friday morning

AlphaNinja - Microsoft(MSFT) reported revenue of $13.1billion for the quarter, a significant miss considering the street expected $14.37billion, and the shares are trading down 8%. Amazon (AMZN) is down 5% in premarket trading, while earnings were in line with expectations. Both stocks have had big runs lately, so they needed stellar reports to keep those gains. Didn't happen. The major indexes are trading down about half a percent premarket, not too bad considering the earnings disappointments I mentioned.

It's a summer (low-volume) Friday, after 12 up days in a row for the Nasdaq. With the Microsoft news, I'd be surprised if people don't do a bit of selling today...

After rebuffing a Warren Buffet lowball bid to purchase parts of CIT, the company may be headed towards bankruptcy.

A diamond is forever...But DeBeers saw sales of rough diamonds fall 57% in the first half of the year.

As municipalities face weak tax receipts, their debt downgrades have picked up...

Liverpudlians furious at the ownership, who is having trouble renewing credit lines.

Yes, this really is the title - "California Pension Fund Hopes Riskier Bets Will Restore Its Health"

Another absurd title - "Britain’s Economy Shrinks More Than Expected but at Slower Pace "

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