Stock Market – Pre Open Report – April 25th 2008
Not much in the way of any news this morning. President Bush is supposed to speak at 9:30am regarding the stimulus package. Microsoft (MSFT) is trading lower pre market on their disappointing earnings last night.
S&P futures are up on no significant news per se, a possible exhaustion gap. Can’t say at this point. Remember that 1410 on the S&P will be our point to stand back and reload.
One of the funniest things I have seen in a very long time.
[ABK] Ambac Financial Group, Inc – Piper Jaffray Cuts ABK to Market Perform from Outperform
Hey Pipar Jaffray, what rock did you crawl out from? Ambac has gone from $90 to $3 in the past 6 months. And you had it as ‘outperform’? Outperform what? Thank you for letting your clients know with so much warning they they can get out before the losses got too big. What a joke.
More on this topic
(What's this?)
Ambac Claims "No Liquidity Issues, Ratings Solid"
(naked capitalism, 4/24/08)
Market In Denial Phase Of Sentiment Cycle
(Disciplined Approach to Investing, 3/9/10)
EARNINGS CONFUSION
(THE PRAGMATIC CAPITALIST, 3/14/10)
Thanks for reminding us all about the stupidity of making invstment decisions based on the advise of security analysts
Anyone remember Henry Blodget & Mary Meeker, those bigshot analysts of the good ol’ dot-com bubble days? Might one say their recommendations didn’t turn out so well? Blodget was actually charged with securities fraud by the SEC. Amazing anyone listens to the securities analysts after this scandal.