Thursday, August 6, 2009

Thursday Premarket

AlphaNinja - US stocks look to open slightly positive, following overseas markets...

Every day there's more screaming about Goldman's trading operation. Though they deny using "flash" looks at the market, it is legitimate to be skeptical of a trading operation that has a "hit rate" (percent positive) of 97%....I won't specualte too much, but I WILL say that this is not an investment bank anymore, it's a hedge fund. And that's where the questions lie -->>should Goldman the hedge fund enjoy taxpayer support? And what are their earnings worth, in terms of a P/E?

from their 10q:


NYTimes attempts to explain why certain financial stocks blasted higher yesterday -->>AIG +63%, CIT +38%, to name a few...

The Brits say goodbye to their oldest surviving WW1 veteran, Harry Patch.




"No-frills" homes are the rage, as builders try to attract buyers...

Everyone levered up, including Annie Leibovitz?

Trucking company YRC is struggling with the economy, unions, and now its competitors are bashing its business...It's eerily similar to Lehman brothers -->>other banks warned Lehman clients that their money may not be safe, and that became a self-fulfilling prophecy (to be clear, that's not entirely why Lehman collapsed, but it didn't help)

"YRC's competitors say they aren't doing anything improper by taking advantage of a rival's weakness. What's more, they say their warnings that a capacity shortage could ensue should YRC exit the market are well-founded."
In recent weeks, Estes, in a series of talking points distributed to its salespeople, has told them to send the message that "companies in trouble never give customers a heads-up that they are near the end," potentially leaving clients' freight stranded around the country. Within the past few months, FedEx has sent some YRC customers a pamphlet citing YRC's "significant work-force reductions" and suggesting these customers move their freight to FedEx "if you're concerned about potential service disruptions to your supply chain."

Head-scratching at the WSJ over the market's reaction to weak results at Lenovo...

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