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aussiebear

IDS World Markets Tues 24th July 07

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Another one was Utah-Idaho Sugar.

 

Anyone remember that biggie?

 

How about Gulf States Land?

 

Yep, ahead of my time all right!

 

:lol: :lol: :lol:

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Companies come and companies go but the Dow Jones Industrial Average is eternal.

 

The original Dow:

 

* American Cotton Oil

* American Sugar

* American Tobacco

* Chicago Gas

* Distilling and Cattle Feeding

* General Electric

* Laclede Gas

* National Lead

* Tennessee Coal & Iron

* North American

* U.S. Leather

* U.S. Rubber

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I do know a little history, only because I lived it.

 

But last time we hit a market down turn in the commods, we did not see a real confirmation until the Hong Kong market took a dive.

 

If my memory is correct, I think it was 1997?

 

Maybe someone can correct my old memory.

 

But thus far, the Hong Kong market is still moving up.

593143[/snapback]

 

 

1998... I was a newbie trader and did half my dough, totally clueless :rolleyes:

 

 

post-2456-1185282482_thumb.png

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Bulls gonna have a headache when the bell rings this morning, that's for sure.

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iphone a bit of a disappointment?

 

skeptical comments from CIBC World Markets anal cyst Ittai Kidron didn't help Apple shares. "Based on our store checks, we believe that demand for the iPhone has seen a significant decline in the past 10 days," Kidron wrote in a note to clients. "We have noticed decent inventories at stores, and thin demand at best. In fact, most Apple store visitors were not looking at the device and only a very small subset bought it."

 

A/P

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iphone a bit of a disappointment?

 

skeptical comments from CIBC World Markets anal cyst Ittai Kidron didn't help Apple shares. "Based on our store checks, we believe that demand for the iPhone has seen a significant decline in the past 10 days," Kidron wrote in a note to clients. "We have noticed decent inventories at stores, and thin demand at best. In fact, most Apple store visitors were not looking at the device and only a very small subset bought it."

 

A/P

593154[/snapback]

 

 

TOTAL PIGMAN STORY.

 

of course this is a GREAT OPP to trade AAPL IMO ... going to buy some calls on this.

 

with only 2 days to report 156,000 phones ' ACTIVATED' thats not purchased.

 

http://biz.yahoo.com/ap/070724/premarket_movers.html?.v=1

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TXN earnings news definitely had an impact this morning based on the headlines that I saw.

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iphone a bit of a disappointment?

 

skeptical comments from CIBC World Markets anal cyst Ittai Kidron didn't help Apple shares. "Based on our store checks, we believe that demand for the iPhone has seen a significant decline in the past 10 days," Kidron wrote in a note to clients. "We have noticed decent inventories at stores, and thin demand at best. In fact, most Apple store visitors were not looking at the device and only a very small subset bought it."

 

A/P

593154[/snapback]

 

I'm sure 99% of the population must own one of these 600 dollar phones. :mellow:

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That should put a bottom in for now. :lol:

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Cutting capacity and people in a homebuilding material company, and problems in the mortgage arena are escalating. Notice the continual estimate reductions at CFC. What are the chances they are still overestimating? No sign of a bottom from any of this.

Excerpts:

 

USG Corporation Reports Second Quarter 2007

Last update: 7/24/2007 8:31:00 AM

CHICAGO, July 24, 2007 /PRNewswire-FirstCall via COMTEX/ -- USG Corporation (USG), a leading building products company, today reported second quarter 2007 net sales of $1.4 billion and net earnings of $56 million. Diluted earnings per share for the second quarter of 2007 were $0.56 based on 99.3 million average diluted shares outstanding. For the same period a year ago, the corporation recorded net sales of $1.6 billion and net earnings of $176 million, or $3.03 per diluted share based on 58.0 million average diluted shares outstanding.

"The housing recession is entering the second year of what is likely to be a multiyear downturn," continued Foote. "We took further action during the quarter to adapt our operations to market conditions by eliminating approximately 500 salaried positions. Combined with reductions in hourly jobs, we have eliminated more than 1,100 positions in the last 12 months. The corporation has removed about 2.5 billion square feet of wallboard capacity from operation in the last year and will shut down an additional 350 million square feet of wallboard capacity at Detroit, Michigan, late in the third quarter.

 

Countrywide 2Q Net Down 33%; Cuts '07 Outlook Again

Last update: 7/24/2007 9:23:04 AM

NEW YORK (Dow Jones)--In another sign of spreading credit problems, Countrywide Financial Corp. (CFC) said Tuesday losses on certain loans to more creditworthy borrowers contributed to a 33% drop in second-quarter net income. The largest U.S. home lender again slashed its 2007 earnings outlook on expectations of "increasingly challenging" housing and mortgage markets.

The Calabasas, Calif., lender earned $485.1 million, or 81 cents a share, in the quarter, down from $722.2 million, or $1.15 a share, a year earlier. Revenue fell to $2.55 billion from $3 billion a year earlier. On average, anal cysts polled by Thomson Financial expected earnings of 95 cents a share on revenue of $2.86 billion.

"During the quarter, softening home prices continued to affect many areas of the country and delinquencies and defaults continued to rise across all mortgage product categories as a result," said Chairman and Chief Executive Angelo Mozilo. Countrywide set aside $293 million for loan losses in the quarter, more than triple the level a year earlier, primarily blaming a loan-loss provision of $181 million on prime home-equity loans.

It cut its 2007 earnings forecast to a range of $2.70 to $3.30 a share, compared with the $3.50 to $4.30 range it projected in April. Earlier this year, Countrywide estimated it would earn $3.80 to $4.80 a share in 2007.

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TXN earnings news definitely had an impact this morning based on the headlines that I saw.

593157[/snapback]

 

 

News is noise..IMHO

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