Commentaries

from Rolfe Winkler:

Meredith Whitney asks the tough questions

October 15, 2009

----Not to beat a dead-horse here, but I thought I'd blog one last interesting thing on Goldman. This from today's conference call. (Transcript via Thomson Street Events, no link)----

JP Morgan sure to point out it’s giving back to the community

October 14, 2009

JP Morgan’s PR machine was sure to give a shout out to loan modifications as a counter to the embarrassing amount of riches reported in their third quarter report. The press release of course leads with its eye popping net income of $3.6 billion in the quarter. But before the bank details all the glorious gains in investment banking fees and fixed income, Jamie Dimon takes a moment to say how much the bank is doing for the community.

Barclays’ yo-yo balance sheet

August 3, 2009

Talk about deleveraging. By far the most striking number in Barclays’ first-half profits concerns its balance sheet:

Tech results give few clues to economy: Eric Auchard

July 27, 2009

Windows 7 touchscreen demonstrationBy Eric Auchard

LONDON, July 24 (Reuters) – Investors have proved all too ready to interpret positive earnings trends from Intel, IBM and Apple as signs of economic recovery and to justify a continued rally in technology stocks.

That little thing called cash burn

July 23, 2009

Ford Motor Co, which could be referred to as the Big One after GM and Chrysler’s fall from grace, has investors cheering after it posted a $2.26 billion profit in the second quarter and a smaller than expected operating loss. But it’s still burning through lots of cash. Sure it’s less than before, but $1 billion in a quarter still isn’t anything to sneeze at, especially since it’s been trying to turn itself around since 2005.

The hollow ring of tech earnings reports: Eric Auchard

July 17, 2009

By Eric Auchard

Morgan Stanley Hi-Tech Index year-to-dateLONDON, July 17 (Reuters) – For technology investors looking for clues to how the sector is faring, Intel Corp sent a false positive signal with its upbeat quarterly report this week. Subsequent reports from IBM, Nokia and Google show how hollow any recovery for growth stocks is proving to be. Even though the growth sector has defied the broader market sell-off in recent weeks, all the signs point to weak trading in months ahead.

Don’t read too much into Intel’s success: Eric Auchard

July 16, 2009

By Eric Auchard

Intel CEO Paul OtelliniLONDON (Reuters) – Intel Corp has cheered up investors by once again making forecasts about its financial performance. The trouble with reading too much into its rebound, however, is that this is largely due to productivity gains of its own making, rather than a broader awakening of demand.

Moving Goldman

July 14, 2009

So the big news to come out Goldman Sachs’ conference call is that it will start to move into its new building in the fourth quarter. And that means higher short-term occupancy costs as it will temporarily be located in two buildings.

Goldman Sachs earnings call

July 14, 2009

Goldman Sachs had a blowout second quarter, exceeding high expectations on its strong trading gains.

Bank of Goldman

July 14, 2009

Lloyd Blankfein, chief executive officer of Goldman Sachs and banker-in-chief of the US/world, didn’t disappoint as his investment firm once again proved that it’s second to none on Wall Street when it comes to printing money and profits.