Friday, September 25, 2009

Friday morning premarket (RIMM)

AlphaNinja - US stocks futures are pointing downward, after a worse-than-expected durable goods report. New orders fell 2.4% after a big jump in July, and unlike the news reports, many of us are not "surprised." Blackberry maker Research In Motion (RIMM) is off over 15% this morning, after revenues came in light last night. Multiple street downgrades are pushing shares lower also.

Despite the lack of a business plan, the VC community is hyping Twitter's potential valuation.
Just a week after rumors surfaced that Twitter was getting $50 million in fresh cash from investors -- more than doubling its original startup pot -- sources spread another round of media reports yesterday that Twitter is getting double that in new cash: $100 million. Although no checks have traded hands yet, the sources insist that the money could arrive any day, adding that Twitter's market value of $1 billion could go as high as $2 billion.

NYTimes sees Verisk IPO as worth the risk.

Whey they always throw "unexpected" in there vexes me...
Orders for goods meant to least several years dropped 2.4 percent, the worst performance since January, the Commerce Department said today in Washington. Excluding transportation equipment, orders were little changed.

An old AlphaNinja favorite, Burlington Coat Factory (LBO'd years back) is looking at some bribery allegations.
Liberty Apparel, a New York-based pants manufacturer, charges that its reputation and business prospects have taken a hit because a Burlington executive this summer accused it of bribing one of the off-price retailer's merchants. James "Jim" Weinberg, an executive at Burlington's purchasing department, allegedly told other employees that he had fired a worker "for taking money from Liberty," according to a suit filed yesterday in New York County Supreme Court.

While expected to be re-elected, Germany's Angela Merkel may have trouble pushing her market-friendly agenda.
“A Merkel coalition with the FDP could really change things in Germany,” said Fredrik Erixon, director of the European Centre for International Political Economy in Brussels. “It would allow many reforms that the Social Democrats have blocked,” such as pruning the bureaucracy. “But it’s still a tight race.”

A $10million (potentially much more in government contracts) contest to remake the iconic 60-watt light bulb.
The L Prize has garnered significant attention in the lighting industry because 60-watt incandescent lamps represent 50 percent of all the lighting in the United States, with 425 million sold each year. The Energy Department says that if all those lamps were LED equivalents, enough power would be saved to light 17.4 million American households and cut carbon emissions by 5.6 million metric tons annually.

"Extreme exploration. " Norway's generous state spending, largely financed by oil revenue, is taking them to the "gates of hell" in search of oil.
“This is extreme exploration,” Bente Nyland, head of the Norwegian Petroleum Directorate, said in an interview on the island on Sept. 23. “You’re in an area where you have very little control, so you need to have a lot more knowledge before you can start any activity.” BP, Europe’s second-largest oil company, estimates the Arctic Ocean may hold around 200 billion barrels of oil equivalent, or 25 percent to 50 percent of the world’s undiscovered hydrocarbons. The U.S. Geological Survey last year estimated the area to hold 90 billion barrels of oil.

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