Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Ticker Shock: Jabil Circuit Gets Up, Research In Motion Falls Down

By

Friday's top stories and stocks with potential to move.

PrintPRINT



Our lawmakers never seem to have a problem agreeing on a $200 toilet seat, or that $100 hammer I'm always hearing about. But ask them for money or to come up with a plan to save civilization as we know it and it's like asking them to split the atom.

As you all know by now -- or will likely soon find out -- the bailout plan that looked like a done deal at the close yesterday hit a wee snag: Politics -- along with the issue of CEO compensation -- both played a role. Whatever the case, they need to do something and fast.

As I sit here with a very bad feeling, the Dow futures are off triple digits, and AsiaMinyanville's Why Wall Street Will Never Be the Same and Europe are flashing red.


Washington Mutual (WM)
Late last night, JPMorgan (JPM) acquired $1.9 billion in WaMu's assets after the bank was closed by regulators. Now I can't say that this situation comes as too much of a surprise, as it was fairly obvious WaMu was struggling to find a lifeline, but it's tremendously sad to see nonetheless. This is a company that got its start in 1889 and really was the talk of the town not too long ago.

The only "good" thing I can see is that the acquisition will add $0.50 per share to JPMorgan's 2009 earnings after "pretax merger costs of approximately $1.5 billion" and "pretax savings of approximately $1.5 billion by 2010."

But again, very sad day here.

Research In Motion (RIMM)
After the bell last night, RIM released its second-quarter numbers. The Canadian company reported an $0.86 per share profit, which, while a huge improvement over the $0.50 per share it turned in last year, was a penny shy of what the Street had been expecting.

Not the end of the world - though it has offered up third-quarter guidance of $0.89 to $0.97. And that's an issue, because the Street had been looking for $0.98. The fact that this news is coming against the backdrop of the stalled bailout plan likely doesn't help the situation.

The shares look to open sharply lower. With all that in mind, this is one of those stocks that I plan to keep an eye on, because I do think the company has a bright future.


Is oil the next bubble?
Minyanville's Buzz & Banter -14 day FREE Trial


< Previous
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE