Good, Bad, and Ugly

Reader reaction to Reuters news

Reporting rumors?

Photo
-

Goldman shares rise on false SEC settlement rumor

MARKETS-STOCKS/NEW YORK (Reuters) – Goldman Sachs Group Inc shares rose as much as 5.4 percent on Friday on rumors of a possible settlement with regulators and a feeling that the stock could be oversold.

The shares were up 3.5 percent at $140.80 in afternoon trading on the New York Stock Exchange, off an earlier high at $143.44. Goldman’s share rise came as bank stocks reversed losses and rose shortly after the open.

Goldman shares were further helped by a broader rally that sent the KBW Banks index up 2.6 percent. Goldman’s rival Morgan Stanley was also up, gaining 4.84 percent.

Goldman Sachs and the SEC declined to comment.

But Washington sources familiar with the matter said the SEC and Goldman Sachs have not reached a settlement.

More or less…

Photo
-

Nasdaq adds 12 stocks to list of canceled trades

NASDAQOMX/Nasdaq is canceling all trades made between 2:40 p.m. EDT and 3 p.m. EDT on Thursday that deviated more or less than 60 percent away from the consolidated last print in that security at 2:40 p.m. or just before.

Maybe I’m reading it wrong, but where it says “that deviated more or less than 60 percent away ..” .. That means any movement that is not 60% exactly. So virtually ALL trades.

The wrong sex…

Photo
-

Buffett worried on inflation, Greek ‘high drama’

gbu lagarde 240French Economy Minister Christine Lagarde earlier Saturday said he was expecting an aid package of around 100-120 billion euros ($133-$160 billion), and had “good hopes” an agreement could be reached by the end of this weekend.

He? I believe Christine Lagarde is a woman. You may want to correct that.

Careful Reader

Yes. Several readers pointed that out to us: GBU Editor

France’s Finance Minister Christine Lagarde (R) speaks to the media in the courtyard of the Elysee Palace in Paris after attending a ministers’ meeting with the president about an aid plan for Greece on May 1, 2010. REUTERS/Gonzalo Fuentes

Million vs. billion, again…

Photo
- BP to invest £650 billion plus in alt energy
BP/

LAGUNA NIGUEL, California (Reuters) – Oil major BP Plc  plans to invest more than $1 billion (650 million pounds) this year on alternative energy development, the head of BP’s alternative energy unit said on Tuesday.

BP is not investing £650 BILLION plus – the article clearly states £650 MILLION (or ONE BILLION dollars)

Not a tough period?

Photo
-

Stec continues to see inventory impa gbu stec

BANGALORE, Feb 23 (Reuters) – Stec Inc, which makes flash memory storage products, posted quarterly earnings in line with estimates, but an inventory overhang at its top customer EMC Corp dampened first-quarter forecast and sent the company’s shares down 30 percent in extended trade.

Stec, which makes the new solid-state drive optical media format, said it expects the first half of 2010 to be a tough period as the inventory carryover at EMC is expected to continue to hurt sales to that company during the period.

His name is Toyoda

Photo
-

After stoic showing in Congress, Toyoda breaks into tears

TOYOTAIt’s Toyota, not “Toyoda”.  My God, man, who’s writing these headlines? Andy Capp?

Shawn

Considering how long this has been in the news, a surprising number of readers still think our references to Toyoda are typos. Some of them get quite abusive about it: GBU Editor

What are those?

Photo
-

U.S. Rep Frank sees ending housing GSEs in current form

gbu geithner 2 160Treasury Secretary Timothy Geithner on Thursday said the Obama administration is committed to “reforms” of the GSEs, but said it would likely not be until 2011 until substantive changes are made.

This article: is so poorly written I don’t know what it’s about.

It jumps from Fannie Mae/Freddie Mac to executive compensation to GSEs. What the heck is a GSE?? Responsible journalism doesn’t use jargon, lingo, or esoteric phrases like this one. Absolutely no information is conveyed by this article.

Chinese Warren Buffett?

Photo
-

Canada police search for “Chinese Warren Buffett”

tangTORONTO (Reuters) – Canadian police issued an arrest warrant on Wednesday for a man who promoted himself as the “Chinese Warren Buffett” but is accused in Canada of operating a C$30 million ($29 million) Ponzi scheme.

Don’t you really mean “Chinese Bernie Madoff”? I’m sure Warren Buffett would not want any associations with the words “ponzi scheme”.

Why not the full name?

Photo
-

Conoco says Sweeny compressor shut during FCC start up

NEW YORK, Nov 5 (Reuters) – ConocoPhillips said on Thursday a hydrogen purification unit compressor shut briefly in association with start-up of a gasoline-making fluid catalytic cracker at its Sweeny, Texas, refinery.

“The compressor was brought back on-line as soon as possible,” Conoco said in a filing with the Texas Commission for Environmental Quality, but added that some residual flaring occurred while units were stabilizing.

Not a former patriot…

Photo
-

A Morgan Stanley star falls in China Interviews with those who know and have worked with him say his story is one of an ambitious and hard-working expatriot who appears to have crossed the line in his zeal to get ahead in the Chinese business world.

In the story on Garth Peterson he is called an ‘expatriot’ which would make him a Benedict Arnold or a turncoat. Given the context of the story it would seem the correct word would be ‘expatriate,’ defined as a person who has withdrawn from his native land, but not a former citizen or supporter.

E.S.D.

This is not a question. The word “expatriate” is misspelled as “expatriot.” This should have been caught by an automatic spelling-checker.

  •