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Buzz Bits: Dow Edges Lower, Nasdaq Closes Higher


Your daily Buzz highlights...


Editor's Note: This is a small sample of the content available on the Buzz and Banter.

Earnings Report - MV News
  • Alcoa (AA) reports 4Q EPS of $0.74 ex restructuring and impairment charges, unclear if comparable with $0.64 cons. AA reports revs of $7.80 bln vs. $7.62 bln cons.

Bell Buzz - Todd Harrison - 3:40 PM
  • In like a lamb, out like a chop? Tell me about it, sock puppet--what was shaping up as a wild and woolly session is limpin' into the Hump with a "What, me worry?" tenor.

  • Crude crash? Emerging markets? Driller spill? Not today's business. In fact, I would offer that the 4% rally in nat gas or the stealth giggle in silver (+2%)--neither of which got much play--is the more intriguing thread.

  • Is that the stuff that Turnaround Tuesday's are made of? Perhaps. Boo would offer that, until CRB 393 is taken out, the benefit of the doubt rests with the bears. What else would you expect him to say?

  • Before I take the dive and add The Princess Bride to my home library (I'm admittedly obsessed with this flick), does anyone know the difference between the various editions? It's questions like this that I've come to rely on ye faithful for.

  • Does NDX 1800 "matter?" It does from a technical standpoint--it's the downtrend line from the November highs.

  • Do technicals "matter?" They do in a world with 9000 hedge funds. They wouldn't if, say, the structural metric assumed top weighting in our assimilation brew.

  • And with that (and a little bit of this), I'm gonna jump and juggle and ride this struggle into my triple lindy evening meldfest. I sincerely hope you enjoyed today's version of the Buzz & Banter and--if not--well, there's always tomorrow.

  • May peace be with you.

position in drillers

The Fabio Effect - Jeff Macke - 11:12 AM

Greetings from New Jersey where it's occurring to me that life in financial television has no limit in regards to weirdness. Suffice it to say I'm lobbying hard for Strazzini and/or Bolling as the Fast Money cast member chosen to slather Faux Oil on himself with Fabio down in Times Square tonight. I'll announce, thanks. In other news...

Greetings from New Jersey where it's occurring to me that life in financial television has no limit in regards to weirdness. Suffice it to say I'm lobbying hard for Strazzini and/or Bolling as the cast member chosen to slather Faux Oil on himself with down in Times Square tonight. I'll announce, thanks. In other news...

  • Supervalu (SVU and, yes, it's spelled "Supervalu") is getting marked down a couple percent after reporting earnings that looked pretty good, from where I'm sitting. I still like the grocers here and I still own Safeway (SWY), regardless of recent downgrades.
  • Sirius (SIRI) pays Howard Stern $83 million? a) I'm in the wrong form of media and b) how long before the Dems start trying to legislate what we pay shock jocks?
  • Best Buy (BBY) will be speaking at the Consumer Electronics Show in Vegas today. Stay tuned for a word on how the adult-toy juggernaut can drag some margins out of its much-vaunted revenue stream. (Hint: it'll say "Geek Squad" and I'll say "show me.")

Position in SWY

Yeech. Phoohey. - Bennet Sedacca - 9:30 AM

See the chart here. London copper. And that doesn't even include today's $20 drop.

The commodity unwinding is in full swing.

Busted bubbles continue.

2. Housing
3. Commodities

Does anyone else besides me find it odd that we grow M3 (reconstituted numbers since it is now 'irrelevant') and MZM at double digit rates and commodities fall out of bed? And GDP growth is like 2 to 3%? Well I do. If you would have told me this was possible 10 years ago I would have said 'no way'.

But it IS happening. WHY? Because we are reaching the point of when the right side of the balance sheet is too large and takes over.

Bearish? Yep, I have to say so. What it does to the market is anyone's guess. In my book, as long as global Central Banks target asset prices, reality and perception can drift far apart.

Apple Phone Is Behind the Curtain! - Jon Doctor J Najarian - 8:17 AM

Apple (AAPL) Names Cingular for iPhone!
AAPL CEO Steve Jobs is a consummate showman and also very tightlipped about what's behind the curtain, but we now know that he has picked Cingular as the service provider for the top secret iPod phone! To put this in perspective, there have been roughly 71 million iPods sold since inception, but over a billion phones are sold every year!

Supervalu (SVU) Net Up 51% - Sales improved to $10.7 billion from $4.7 billion and guidance for 4Q was raised to $0.59 - $0.66. The company estimates sales of $37 billion and earnings in the range of $2.34 to $2.41 a share.

Ceradyne (CRDN) 4Q Sales Up 56% - The maker of armored products for soldiers and vehicles announced sales up 56% to $178 million and new orders up substantially. For the year, sales reached $663 million, 80% above the $368 million reported in 2005, and total new orders hit about $730 million, up 64% year-over-year.

Merrill Cuts Garmin (GRMN) To Neutral - The broker said it expects the GPS navigation company to lose three percentage points of market share in 2007 as a barrage of new devices are introduced. Last Friday it was announced that the CEO dumped 100,000 shares of GRMN, which is still very close to its 52-week high.

Position in AAPL

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No positions in stocks mentioned.

Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at

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