Hold This: Whole Foods; BNP Paribas; Sprint Nextel; Blackstone; Japan; Morgan Stanley
Hold the Mayo... Whole Foods plummeted 13% after the company posted 23% Yoy drop in EPS and suspended its dividend.
Hold the Dijon... BNP Paribas, Frances largest bank, net profit -34%; revenue -8.5%;
write down for counterparty risk to monoline insurers (Ambac, MBIA) +$750 million; CIB division revenue -25%; profit -50%.
Hold the Line... Sprint Nextel are down 11%; EPS -76% Yoy as revenue fell 11% due to subscriber loss.
Hold the Buyout... Blackstone Group Q2 net loss -$156 vs +$775 million profit, as tight credit markets curtailed buyouts for the private equity firm.
CEO Tony James: "These are some of the most difficult time I've seen in my 33 years. Lenders continue to severely restrict commitments to new debt,
limiting industry-wide leveraged acquisition activity levels in both corporate and real estate markets."
Hold the Sake & Sushi... Shigeru Sugihara, head of business statistics at the Cabinet Office in Tokyo.
"There is a high possibility the economy has entered a recession."
Finance Minister Bunmei Ibuki said yesterday the economy is at risk of falling into a state of stagflation, a combination of slowing growth and spiraling prices.
Hold the HELOC... Morgan Stanley, #2 US securities firms, froze the home equity lines of credit for thousands of its customers.
Newsflash: Most of the customers had homes that declined in value. Rimshot.
Hold the Dijon... BNP Paribas, Frances largest bank, net profit -34%; revenue -8.5%;
write down for counterparty risk to monoline insurers (Ambac, MBIA) +$750 million; CIB division revenue -25%; profit -50%.
Hold the Line... Sprint Nextel are down 11%; EPS -76% Yoy as revenue fell 11% due to subscriber loss.
Hold the Buyout... Blackstone Group Q2 net loss -$156 vs +$775 million profit, as tight credit markets curtailed buyouts for the private equity firm.
CEO Tony James: "These are some of the most difficult time I've seen in my 33 years. Lenders continue to severely restrict commitments to new debt,
limiting industry-wide leveraged acquisition activity levels in both corporate and real estate markets."
Hold the Sake & Sushi... Shigeru Sugihara, head of business statistics at the Cabinet Office in Tokyo.
"There is a high possibility the economy has entered a recession."
Finance Minister Bunmei Ibuki said yesterday the economy is at risk of falling into a state of stagflation, a combination of slowing growth and spiraling prices.
Hold the HELOC... Morgan Stanley, #2 US securities firms, froze the home equity lines of credit for thousands of its customers.
Newsflash: Most of the customers had homes that declined in value. Rimshot.
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