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Buzz Bits: Dow, Nasdaq Climb 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

  • Adobe (ADBE) reports 4Q EPS inline of $0.33 on revs of $682.2 mln vs. $670.9 mln cons.

Bring it Home Buzz - Todd Harrison - 3:46 PM
  • The new intern is here, the new intern is here!

  • Keep an eye on those homies. DR Horton, Centex and KB Homes are starting to get heavy. Again, HGX 240 is a nice and defined short side stop for the group.

  • Do I still think S&P 1425 caps 'em into expiration? Yep, with a little jiggle to it.

  • Snaps on your retail call, Macke--those were some of your Best Buys (sorry). I pulled up a chart of the RTH (retail holders) and noticed three things off the bat. One, this proxy is in the exact same spot as it was in 2004. Two, RTH 100-ish has halted the upside stampede multiple times and three, that could be some reverse dandruff if we base sideways. Hey, I did my part to help 'em along.

  • I don't know about you but I, for one, am looking forward to a respite. There are tremendous amounts of 'behind the scenes' things going on--many of which Minyans know, most of which Minyans don't. Some work, some personal, all life. It's the journey and if I've learned anything over the years, it's that when you finally get to where you wanna be, the trip will be over. Take some time to reflect this holiday season...and count your blessings. If you're reading this, you're luckier than most.

  • Fare ye well into the bell and have a mindful night.


Let the madness continue... - Fil Zucchi - 12:18 PM

...and no, I am not talking about the "Energizer" market, I am talking about the pounding SIRF Technology (SIRF) is taking courtesy of a sell-side note suggesting that certain OEM's are moving to less expensive chipsets. Really!?!?! I could have sworn that was news months ago, or maybe I just had a mystical vision while I was sleeping.

That SIRF's margins are going to be pressured is no secret Minyans - what is surprising is that it has not yet happened. The key here is whether the chipsets for mobile phone solutions make it to market fast enough to absorb the shock from the after-market GPS units.

I dipped a toe in SIRF and stand ready to add if/when it goes lower. One thing I'm pretty confident of: the future for SIRF has not gotten 12% worse than it was yesterday.

Position in SIRF

Best Buy Q & A - Jeff Macke - 11:05 AM

Greetings from Saddle River where I'm getting reacquainted with "Health" for the first time in over a week after a short bout with the Bubonic Plague. While I was wheezing, the biggest news in my "space" was Best Buy (BBY) which reported its 3Q and got downgraded around the Street due to margin concerns. The thinking was best summarized by Prudential's Mark Rowen who asked "if Best Buy can't make out-sized margins on flat-panel TVs now, when will they be able to?"

Mark's got questions, I've got answers:

* Best Buy will never be able to make huge margins on flat-panel TVs. This may be a surprise to analysts but not to Best Buy. Big ticket electronics rarely have good margins for the retailers; a long-standing fact of retail life which has only been exacerbated by the information age. While the stores just about break-even on the big ticket, they make their money back in accessories, installation and warranties (which are most-often a terrible deal for consumers).

That's why Best Buy and Circuit City (CC) spend such a large percentage of their ad dollars hyping the Geek Squad and other such initiatives. Even at Big Box discount type of chains, the shopping experience and customer service levels are how chains separate themselves from the losing strategy of competing on price.

What you need to know... - Jon Doctor J Najarian - 8:17 AM

CFTC Investigates BP Over Unleaded Gas Trading – According to published reports, the Commission intends to bring a civil enforcement action against BP Plc over the London integrated oil company's trading in unleaded-gasoline futures in October 2002.

Costco (COST) Net Up 9.8% - The warehouse retailer reported fiscal 1Q net income rose to $236.9 million, or 51 cents a share, from $215.8 million, or 45 cents, in the year-earlier period. Revenue hit $14.15 billion and both are better than consensus estimates.

Hurd Back on Hot Seat – Hewlett Packard's (HPQ) CEO, Mark Hurd is being asked to explain the timing of his sale of $1.37 million in stock on August 25th, the same day he was questioned by outside attorneys about the pre-texting scandal that rocked the firm. It may work in Mr Hurd's favor that share of HPQ are up nearly $5 since his sale, so unlike Martha Stewart, they won't be able to say his knowledge helped him profit.

Kraft (KFT) Cut To Sell at S&P - Saying it believes the extension of Kraft's restructuring through 2008 will result in $550 million of incremental capital expenditures and $3.7 billion of restructuring and impairment charges, S&P lowered its rating on the food giant and also its target from $36 to $32. OUCH!

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