SunTrust, Motorola, Dollar Debauch & Soros From Davos
Hop, Sing & No Rate Cut For You... Hong Kong Hang Seng surging 10.7%, Japan's Nikkei 225 +2%...
ECB President "Tricky" Trichet made it clear that inflation is the ECB's priority, FTSE -2.2%; CAC -4.2%; DAX -4.8%.
United Technologies, Pfizer, Texas Instrument all topped expectations. Capital One, Ebay and Northern Rock report later.
Orange Coke Float... SunTrust Banks forced to prop up two of its money-market funds...
said profit was almost wiped out by costs from the bailout and home loan defaults.
Q4 earnings off just a tad, $3.3 vs $498.6 million, a year earlier.
Non-performing loans climbed to $1.46 billion from $1 billion. The money fund bailout contributed to $555 million in writedowns...
as SunTrust spent $1.4 billion to buy distressed ABCP assets from the money funds SIV's.
For the full year, profit available to common shareholders fell 24% to $1.6 billion.
SunTrust plans to cut 2,400 jobs by the end of 2008 and sell $1 billion in Coca Cola stock to stay afloat.
The chips are down... Motorola, topped its earnings expectations, but profit fell 84% last quarter.
Q4 net income $100 vs $623 million a year earlier. Sales declined 18% to $9.65 billion.
The chipster and mobile phone maker forecast a Q1 loss per share from continuing operations of 5 cents to 7 cents, since Oct 06 shares down 60%, today 22%.
T Notes, Debauched Dollar & Soros... Treasuries have returned 3.14% in 2008, the best start to any year since at least 1987.
Today, Benchmark 30 year yields touched 4.101%; 10 year note yields -7 bps to 3.34%, 2 year note touched 1.85%; TED Spread widens to 1.19%
The euro has gained 55% against the dollar since Bush entered the White House in January 2001.
George Soros was the biggest financial backer of the failed effort to prevent Dubya Shrub Jr. from winning a 2nd term.
From Davos With Love... George Soros: "I think it is almost inevitable that the turmoil in the financial markets will affect the real economy.
Alan Greenspan mishandled it by keeping interest rates too low too long and also ignoring dangers in the housing market."
Hattip to Bloomberg, AP, Reuters & MSN Money.
ECB President "Tricky" Trichet made it clear that inflation is the ECB's priority, FTSE -2.2%; CAC -4.2%; DAX -4.8%.
United Technologies, Pfizer, Texas Instrument all topped expectations. Capital One, Ebay and Northern Rock report later.
Orange Coke Float... SunTrust Banks forced to prop up two of its money-market funds...
said profit was almost wiped out by costs from the bailout and home loan defaults.
Q4 earnings off just a tad, $3.3 vs $498.6 million, a year earlier.
Non-performing loans climbed to $1.46 billion from $1 billion. The money fund bailout contributed to $555 million in writedowns...
as SunTrust spent $1.4 billion to buy distressed ABCP assets from the money funds SIV's.
For the full year, profit available to common shareholders fell 24% to $1.6 billion.
SunTrust plans to cut 2,400 jobs by the end of 2008 and sell $1 billion in Coca Cola stock to stay afloat.
The chips are down... Motorola, topped its earnings expectations, but profit fell 84% last quarter.
Q4 net income $100 vs $623 million a year earlier. Sales declined 18% to $9.65 billion.
The chipster and mobile phone maker forecast a Q1 loss per share from continuing operations of 5 cents to 7 cents, since Oct 06 shares down 60%, today 22%.
T Notes, Debauched Dollar & Soros... Treasuries have returned 3.14% in 2008, the best start to any year since at least 1987.
Today, Benchmark 30 year yields touched 4.101%; 10 year note yields -7 bps to 3.34%, 2 year note touched 1.85%; TED Spread widens to 1.19%
The euro has gained 55% against the dollar since Bush entered the White House in January 2001.
George Soros was the biggest financial backer of the failed effort to prevent Dubya Shrub Jr. from winning a 2nd term.
From Davos With Love... George Soros: "I think it is almost inevitable that the turmoil in the financial markets will affect the real economy.
Alan Greenspan mishandled it by keeping interest rates too low too long and also ignoring dangers in the housing market."
Hattip to Bloomberg, AP, Reuters & MSN Money.
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