----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’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.
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.
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.
By Eric Auchard
LONDON, 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.
By Eric Auchard
LONDON (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.