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. . . Companies today don't have the ability to pass on costs to consumers which is hurting their bottom line. This inability to pass on costs is hurting the bottom line on profits. Without increasing profits the much hoped for capex spending boom will not take place. Without profits companies don't have the money or the incentive to spend money on new plants and equipment, which brings up an important question regarding the second half recovery. Where will the much ballyhooed profits come from to fire up the second half recovery?

 

The current run-up in stock prices is based more on hope than it is reality. There has been nothing said or indicated at recent company press conferences that would indicate that a capital spending boom is about to take place in the second half of the year. In fact just the opposite has been heard from corporate CEOs who have been selling stock in record amounts . . .

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NEW YORK (Reuters) - Fannie Mae (NYSE:FNM - news), the biggest buyer of U.S. mortgages, on Tuesday said its quarterly earnings fell nearly 25 percent, missing anal cyst estimate, as derivatives it uses to protect itself against swings in interest rates lost value.

 

Excluding changes in the market values of derivative positions, Fannie Mae's earnings rose 18 percent to $1.86 billion, or $1.86 per share, from $1.573 billion, or $1.55 a share a year earlier.

 

Does that mean it wasn't an earnings miss after all? :blink:

 

 

 

http://story.news.yahoo.com/news?tmpl=stor...niemae_earns_dc

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More on fnm:

 

"The company expects that as interest rates stabilize or rise, and liquidating mortgages are replaced with current-coupon loans, mortgage durations will lengthen and the company will pay down much of its short-term debt," vice chairman Timothy Howard said.

 

Under such circumstances, Howard said, the company expects that its net interest margin will "decline significantly" and that profit growth will "move from above its historical trend to below that trend for a few quarters."

 

http://www.marketwatch.com/news/yhoo/story...C3C2A848AEB2%7D

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Can anyone think of more hyperbole to add? :lol:

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Good morning and Good Stool to all!

 

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The Monkey House continues to keep it's "vacancy" sign lit at night, attracting wino's, ho's and futures players. Someone is serious about getting this market higher. FNM spin is...well, what can you say. The derivative tower that will bankrupt the world is "excluded" from earnings. How they get away with this is beyond me.

 

Excluding that this engine is missing a piston and steering wheel, it's a great car.

 

I want to meet the fool who buys this rally at it's highest.

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Lower prices by the end of the day on a higher open - I see they've got the spx up to 1007

 

Greenspan's testimony today

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Greenspin

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The Monkey House continues to keep it's "vacancy" sign lit at night, attracting wino's, ho's and futures players. Someone is serious about getting this market higher.

Speaking of the Monkey House, the CBNC crowd is waxing ecstatic over the retail sales number this morning. Still growing better than 4% y-o-y ... euphoria in Fantasyland.

 

The updated $450 billion federal deficit projection to be announced today is already discounted ... gnarly, dude ... now if magoo will just keep his foot out of his mouth, we can probe that 1015 resistance again today.

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Loral Reaches Agreement to Sell Six Satellites to Intelsat for up to $1.1 Billion; Files Voluntary Chapter 11 Petition as Precondition to Transaction

 

 

NEW YORK, Jul 15, 2003 (BUSINESS WIRE) -- Loral Space & Communications Ltd.

(NYSE: LOR)--

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Welcome [sign In] To track stocks & more, Register

Financial News

Enter symbol(s) BasicDayWatchPerformanceReal-time MktDetailedChartResearchOptionsOrder Book Symbol Lookup

 

 

 

 

 

 

 

Reuters

Loral files bankruptcy, to sell six satellites

Tuesday July 15, 7:58 am ET

 

 

NEW YORK, July 15 (Reuters) - Loral Space & Communications Ltd. (NYSE:LOR - News), a satellite maker and operator of a space-based communications network, said Tuesday it filed for bankruptcy amid a mountain of debt that has burdened it during the prolonged aerospace and telecommunications slump.

 

http://biz.yahoo.com/rf/030715/telecoms_loral_1.html

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Speaking of the Monkey House, the CBNC crowd is waxing ecstatic over the retail sales number this morning. Still growing better than 4% y-o-y ... euphoria in Fantasyland.

 

The updated $450 billion federal deficit projection to be announced today is already discounted ... gnarly, dude ... now if magoo will just keep his foot out of his mouth, we can probe that 1015 resistance again today.

some quick math

 

Iraq costing tht USA $1 billion per day.

Say 30 days per month.

 

Add $30 billion per month to that $450 billlion.

 

That $450 billion # is just pure vaporware,.

 

Just like this vapor rally.

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Iraq costing tht USA $1 billion per day.

Say 30 days per month.

The figure I've read is $4 billion a month, or nearly $50 billion annually.

 

In any event, gigantic deficits are the transmission belt for recycling the global dollar supply ... the overseas Feed.

 

The Bubble Machine has switched on the afterburners. Just lookit the fuc-u-tures spewing and fizzing this morning.

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