Might have to wait for a summary of the reports. Not sure why GM went pear shaped? Was it people no longer being able to update or one off tax or something? When Harvey Normal electrical devision starts going soft, it might be hitting us. The worst case will be when people stop buying beer. Watch the beer division from Fosters.Just some musings from one who is fundementally challenged...
Cisco reports lower earnings going forward due to reduced spending, particularly by Wall St firms.. is the sub-prime now officially spilling over?? Maybe the reports due this week from the big US retailers due this week will shed some more light on this??? Where Wall St leads... we follow??
Cheers
........Kauri
Just some musings from one who is fundementally challenged...
Cisco reports lower earnings going forward due to reduced spending, particularly by Wall St firms.. is the sub-prime now officially spilling over?? Maybe the reports due this week from the big US retailers due this week will shed some more light on this??? Where Wall St leads... we follow??
Cheers
........Kauri
Might have to wait for a summary of the reports. Not sure why GM went pear shaped? Was it people no longer being able to update or one off tax or something? When Harvey Normal electrical devision starts going soft, it might be hitting us. The worst case will be when people stop buying beer. Watch the beer division from Fosters.By that stage, it might be the bottom....
Maybe I'm not seeing things too clearly, but there seems to be quite a few good reports out this season, less the financials.I heard a great line on Bloomberg last week in an interview with some guy I can't remember. The question was posed "Do you think subprime is contained" He replied "sure, it's contained to planet earth."
Cisco's results were good but the forecast going out was not bullish. The reason for the Cisco's comments go something like this: Given the huge writedowns by many Wall Street firms, staff layoffs, and general belt tightening in the compensation area do you think they will be making big investments in technology next year?
Tech seems to be generally going fine.MELBOURNE (Dow Jones)--Computershare Ltd. (CPU.AU), the world's largest share registry company, Monday upgraded its earnings guidance following a strong start to the fiscal year.
The Melbourne-based company said it expects earnings per share growth of more than 30% for the year to June 30, 2008.
"This upgrade assumes equity, interest rate and foreign exchange market conditions remain broadly consistent with current levels for the rest of the financial year," Computershare said in a statement.
Computershare said the main factors prompting the upgrade were a strong result for the first four months, up about 40% over last year, driven by higher margins in its core business.
It also cited the revenue growth forecast for the full year in Hong Kong (especially the continued strong growth in initial public offers), Australia and Canada.
Maybe I'm not seeing things too clearly, but there seems to be quite a few good reports out this season, less the financials.
What is Goodle up to?
And, one of ours:
Tech seems to be generally going fine.
Just a perception of course. And, I'm not well read.
If it smells bad :flush: it doesn't matter how much you spray air-freshener about, it will still stink until it is flushed....THE top US banks agree on the structure of a backup fund of at least $US75 billion ($81.6 billion) to stabilise credit markets, The New York Times reported overnight.
Citing a person involved in the discussions, who spoke on condition of anonymity, the Times said that Bank of America, Citigroup Inc and JPMorgan Chase & Co officials reached agreement late on Friday, approving a more simplified structure than had been proposed during the course of some two months of negotiations.
If it smells bad :flush: it doesn't matter how much you spray air-freshener about, it will still stink until it is flushed....
Hiding/diguising Wall St's losses is not going to give much joy to the millions of Americans being turfed out of thier houses by these same banks/institutions, but I have no doubt that the punters will see it as a positive and charge back in.....
Cheers
.........Kauri
Just pulled this from reuters. Can see a nice DOW rebound tonight on this news.
Top US banks organise $82bn bailout fundFrom correspondents in New York
November 12, 2007 08:15am
Article from: ReutersFont size: + -
Send this article: Print Email
THE top US banks agree on the structure of a backup fund of at least $US75 billion ($81.6 billion) to stabilise credit markets, The New York Times reported overnight.
Citing a person involved in the discussions, who spoke on condition of anonymity, the Times said that Bank of America, Citigroup Inc and JPMorgan Chase & Co officials reached agreement late on Friday, approving a more simplified structure than had been proposed during the course of some two months of negotiations.
?We cleared all the big hurdles,'' the newspaper quoted its source as saying. ?We agreed to a much simpler structure that we think can get done, rather than optimise it for everyone,'' the person said.
Discussions began in early autumn when the US Treasury Department convened a meeting.
Previous versions of a backup fund had been widely considered infeasible, spurring doubts about the prospect for a final plan, the Times said.
The proposed fund could begin operating by the end of the year, the newspaper reported, and the banks could start asking some 60 financial institutions to contribute to the fund in the next five to 10 days.
US Treasury Department officials declined to comment, the newspaper said.
The fund is meant to avoid a severe credit market disruption, according to its organisers, by either providing time for asset prices to recover or, more likely, at least discourage structured investment vehicles from unloading their holdings en masse, the Times said.
The fund also needs the major credit rating agencies' blessings.
Markets dropping rapidly both here and in Japan and Hong Kong.Nikkei down 3.5%,Hang Seng down 4% and ASX down over 1%.Market indicators for the S & P 500,Nasdaq and DJIA starting to fall also.Any news for sharp decline?
What can’t find an article by a talking head to explain it?
Don't worry you will be able to find one tomorrow about the todays action by someone who doesn’t trade because they can’t.
What about a bit of analysis of price action from you rather than cut and paste news??
It sounds like the US might be bracing for another dump this week.
Could be that FASB regulation 157 forcing the hand of the money merchants.[
HSBC, the Subprime Seer:
Sanguine View Isn't Likely
By CARRICK MOLLENKAMP
November 12, 2007
When British bank HSBC Holdings PLC reports third-quarter results for its U.S. business this week, it will provide an early look at what could be in store for U.S. mortgage lenders, banks with big holdings of securities tied to subprime home loans and even the broader U.S. economy.
That picture isn't likely to be pretty.
HSBC's American consumer-lending unit, HSBC Finance Corp., is the classic canary in the coal mine when it comes to identifying new problems in the market for subprime loans, or those that were made to borrowers with weak credit.
A year ago, the bank, in a little-noticed securities filing, flagged some unexpectedly high delinquencies in its subprime-mortgage book that in February led to an increase in bad-debt costs. That proved to be the beginning of a crisis that spread around the globe, engulfing most of the world's largest banks and big mortgage lenders such as Countrywide Financial Corp.
Now, some analysts are expecting another unpleasant disclosure from HSBC's U.S. consumer-lending business, one of the biggest subprime lenders in the country. Robert Law and Raul Sinha, London-based banking analysts for Lehman Brothers, said they believe HSBC might have to boost its reserves against souring subprime loans at HSBC Finance's mortgage-services division by $2.4 billion, to a total $4.5 billion. The unit, formerly known as Household International Inc., was acquired by HSBC in 2003.
The level of reserves suggests that by the end of this year, losses to defaults over the life of the loans could wipe out about 14% of a loan portfolio totaling $41.4 billion, according to Messrs. Law and Sinha. That would confirm some of the more pessimistic forecasts of how the subprime market will fare. The Lehman analysts initially had projected losses of 8%. Lehman has an "overweight" recommendation on HSBC shares, the firm's highest ranking. The analysts said they believe HSBC's access to emerging markets is one factor that outweighs the problems in the U.S.
"HSBC has proved to be one of the most frank, or perhaps realistic, of all the players in the consumer-finance space," said UBS AG banking analyst Alastair Ryan. "If their message is indeed that things have again turned for the worse, others will follow."
HSBC's results also could have bigger implications for the U.S. economy. Some analysts expect the losses at HSBC Finance to prompt a slowdown in lending at its 1,260 U.S. branches and other lending outlets, which provide mortgages, auto loans and credit cards to retail customers. That is an area that economists have been watching closely for signs of contagion from the credit crisis. Any pullback in such lending could curtail U.S. consumer spending, which has been the country's main driver of economic growth...
What can’t find an article by a talking head to explain it?
Don't worry you will be able to find one tomorrow about the todays action by someone who doesn’t trade because they can’t.
What about a bit of analysis of price action from you rather than cut and paste news??
Don't notice too much analysis on price action on your typepad.Please to see you have a disclaimer that commences,"I make mistakes."Certainly are a few spelling and grammatical ones in the only two I read.Perhaps a bit of cut and paste for the articles you draw some of your information from would be a great help.
My point is that this thread is titled XAO Analysis but it seems to have become a place to cut and paste articles from journalist. Ones that like most "news" out there is just rehashing of generalist dribble made-up to explain price movements by people that don't actually participate in the market, don't really understand it and will probably never will.
This poor excuse for information has its place, like misinforming the lazy, but in a thread about analysing the market when it used as 'the' comment rather than some evidence or extension of an idea it just downgrades the usefulness of this thread.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?