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3.28 in premarket so far, I hope this is an indicator of what our day has to bring
Have you noticed ETFC premarket so far, looking pretty nice, just printed 3.28, hope it's an indicator of the rest of the day for it.
I know who's getting the blame today if the market tanks, and I don't think this will help it any
Thursday January 17, 7:16 AM EST
NEW YORK (AP) — Merrill Lynch & Co., the world's largest brokerage, on Thursday posted a fourth-quarter loss of nearly $10 billion after writing down some $14.6 billion worth of investments and trades slammed by the ongoing credit crisis.
The company posted a net loss after preferred dividends of $9.91 billion, or $12.01 per share, compared to a profit of $2.3 billion, or $2.41 per share, a year earlier. Merrill had negative revenue of $8.19 billion, down from revenue of $8.39 billion a year earlier.
Results missed Wall Street's projections for a loss of $4.70 per share on revenue of $702.1 million, according to Thomson Financial. However, analysts have not been able to make accurate projections since the summer, when investment banks began taking on large losses due to the collapse of the subprime mortgage market.
"While the firm's earnings performance for the year is clearly unacceptable, over the last few weeks we have substantially strengthened the firm's liquidity and balance sheet," said John A. Thain, Merrill's new chairman and chief executive, in a statement.
Merrill said Tuesday it is getting a fresh cash investment of $6.6 billion to strengthen its balance sheet, led by three foreign investment groups. In December, it secured up to $6.2 billion of additional capital.
BBT, chart not looking bad at all, looks to have found bottom and news this morning on financials doesn't look bad from what I've seen so far, haven't dug in deep yet but may be worth looking at
http://biz.yahoo.com/prnews/080117/clth014.html?.v=101
BLK, guess that everyone isn't slumping, pretty impressive numbers put up this morning, looks like earnings exceeded analysts predictions as well.
BlackRock Inc.'s (BLK) fourth-quarter net income rose to $322.4 million, or $2.43 a share, from $169.4 million, or $1.28 a share, a year earlier, due in part to the acquisition of the fund of funds business of Quellos Group LLC.
A Thomson Financial survey of analysts, on average, expected a profit of $2.15 a share for the quarter. Analysts' expectations sometimes exclude certain items.
The New York investment manager said non-GAAP EPS rose to $2.52 a share from $1.61 a share a year earlier.
The company said assets under management totaled $1.36 trillion on Dec. 31, up $232 billion from a year earlier.
Revenue rose to $1.44 billion from $1.02 billion a year ago.
GM Bobby, I really like the adx and ppo on JAH, actually I don't see an indicator on it that I don't like when I pull it up on my chart setting as well. IMO if market is mixed or green today it should do well.
CC (Circuit City) news after hours
Circuit City Stores Inc. (CC) named John T. Harlow, a retail-industry veteran, as chief operating officer, in an effort to spur a turnaround at the struggling consumer-electronics retailer.
Harlow, 49 years old, most recently was a retail director with Deloitte Consulting LLP and has been involved with Circuit City over the past year. He will oversee Circuit City's retail stores, real estate, information technology and supply chain. Before joining Deloitte, Harlow was senior vice president, operations for the A&P U.S. division of Great Atlantic & Pacific Tea Co. (GAP), where he helped lead a restructuring that boosted profitability, Circuit City said. Harlow also is a former corporate vice president, administration for Toys "R" Us Inc.
The appointment comes as Circuit City grapples with a combination of economic challenges, competition and a falling stock price. In December, shares plummeted to a 16-year low after the company said increased financing for its turnaround was in the works. The stock closed Wednesday at $3.74, about 83% off its 52-week high of $22.02 reached last Feb. 9. The 52-week low is $3.57, set Tuesday.
Chairman and Chief Executive Philip J. Schoonover said: "John's valuable retail experience and specific insights into Circuit City's business will enable him to act effectively to generate improved performance at Circuit City." He added: "John's extensive knowledge and management skills make him uniquely suited to advance our turnaround and financial performance."
Despite cuts to labor and a recasting of store procedures in an effort to stem losses, Circuit City has seen the red ink continue and the departure of three senior-level executives in the past year - including its merchandising executive three weeks before Black Friday. The Richmond, Va., company's loss for the fiscal third quarter ended Nov. 30 was more than four times as steep as Wall Street expected and represented the second quarter in a row that changes tied to the turnaround effort appeared to disrupt sales more than help them.
Wednesday, the retailer also said its executive vice president, multi-channel sales, George D. "Danny" Clark, was leaving. The chain said its direct channel, including Web site and call-center operations, will now be directed by Brian S. Bradley, who was recently named senior vice president, multi-channel.
The merchandising team will be led by John J. Kelly, senior vice president, merchandising, Circuit City said. Kelly, named chief merchandising officer in November, joined the company in May 2005 as senior vice president, general merchandise manager.
The supply chain and inventory team will be led by Kelly E. Breitenbecher, senior vice president, supply chain and space planning. Breitenbecher joined the company in February 2005 as vice president, supply chain. In November 2006, Breitenbecher was appointed vice president, inventory, floor and space planning, inventory operations.
Schoonover said: "The changes we are making today bring proven turnaround experience to the retail team and enable us to continue to move forward with our turnaround of the core business and accelerate our growth initiatives."
On Jan. 8, Schoonover expressed concerns about the company's outlook, expecting the slowing U.S. economy to weigh on sales at Circuit City stores for at least the first half of the year. The CEO's gloomy comments came after an 11.4% decline in the company's December same-store sales.
Consumers are pulling back sharply on frills like big-screen TVs now that the holiday gift-buying season is over and the U.S. economy continues to slow with no discernible uptick in sight.
Earlier this month, Goldman Sachs said it expected Circuit City to struggle at least through 2009. For 2008, Goldman almost doubled its projected loss for Circuit City, to $1.50 from 77 cents a share.
As of Dec. 31, Circuit City operated 671 superstores and 13 other locations in 158 U.S. markets. The international segment operated 788 retail stores and dealer outlets in Canada.
In recent after-hours trading, Circuit City shares were at $3.75 versus Wednesday's close of $3.74.
You should get documents from your broker that will have all of your trades. Problem with mine is I get a running total of the dollar amount of all trades which does nothing for my accountant.
You are only taxed on sales, what you were holding at the end of the year doesn't matter even if you are up thousands of dollars on it. Taxman gets his cut when you sell it.
My accountant only wants to know if I made money or lost money and how much. If you show an overall gain for the year you pay taxes on it. If you lost you can write off up to $3000
I keep a running total of all stocks bought and sold for the year. I figure the dollar amount of the purchase, subtract commissions and then log either a loss or a gain. If you trade often it is easiest to do this as you go instead of waiting to do it all at the same time.
At tax time I provide my accountant with that log along with my tax documents from my broker. Another thing to keep in mind is that accountants often charge by the hour so the more of this leg work you do the cheaper your accounting bill is going to be. If you have a large number of trades it could take an accountant hours to sort through it all.
This is my way and my accountant has no problems with it and has actually commented that it makes his job much easier. I would recommend talking to who you plan to have do your tax work and see what they prefer and what works best for them.
Hope this helps
Anytime, If my post gives at least one person a better understanding of the Taser it was well worth while. It is common for people to fear what they don't know or understand.
I could add plenty to what I have already posted but will leave it at that since this is a board aimed more towards the trading of the company's stock. I do check the board daily and add my opinion from time to time as well.
At this time I am amazed that the PPS has dropped so sharply and you can bet that when it levels and begins to go back where it should be I will be riding it up.
It will get there, I think you will happy with it
Thanks, bet you are feeling a bit better with ETFC as well
RT hit 6.80.......NICE!!
BBI, huge blocks rolling through on the ask here, if it breaks 3.30 should run up nice from there IMO
BBI (Blockbuster) grabbed some here, we'll see how it does
RT just hit 6.62, not a bad call from yesterday
Not a bad move with FINL, I set my sell order for a 5% gain before going to lunch and came back to find it gone, I would not be surprised to see it hit or break 2.00 this week but decided profit is profit
I'm doing the same, I've watched FINL long enough I believe it will go right back up. When it moves it moves quickly and with its swings should be able to get out with profit
you are doing better than me, I'm in a tad higher than that, I'm not even worrying about this one right now, ETFC should be a good solid play
WON doing rather nice this morning, had a feeling that one would get some green today
ETFC has held the 2.85 support and actually looks to be trying to gain a little, suprising considering the news out on Charles Schwab this morning.
Charles Schwab Corp. (SCHW) reported a 34% drop in fourth-quarter net income amid a year-earlier gain, with revenue rising, and the company saw high trading volume during the turbulent period.
The San Francisco brokerage posted net income of $308 million, or 26 cents a share, down from $467 million, or 37 cents a share, a year earlier.
The latest quarter's results include a $3 million gain from the sale of U.S. Trust, which was completed July 1, in income from discontinued operations. Year-earlier results included a $205 million tax benefit related to the then-pending sale of U.S. Trust.
Revenue rose 23% to $1.35 billion.
The mean estimate of analysts polled by Thomson Financial were for earnings of 27 cents a share on $1.32 billion in revenue.
The company saw a 35% return on equity, an important measure of profitability, down from 39%. Pretax profit margin was 39.1%, versus 33.9%.
Total assets increased 17% to $1.4 trillion in 2007, with net new assets rising 92% to $160 billion. Brokerage-account growth climbed 24% in 2007 to 809,000, while total accounts increased 5% to 7 million as of Dec. 31.
Chairman and Chief Executive Charles Schwab said the results reflect the company's focus on earning clients' loyalty and helping them achieve better financial outcomes, while continuing to improve the company's own financial performance.
Analysts had expected Schwab to benefit from near-record "client-engagement" levels, a high-quality, low-risk balance sheet and elevated client attrition levels at rival E*Trade Financial Corp. (ETFC). Most online brokers such as Charles Schwab have been benefiting from revenue growth from asset fees and commissions amid generally upbeat activity levels.
Charles Schwab shares closed Tuesday at $22.46, and fell to $22.20 in pre-market trading.
I'm somewhat amazed the market has actually broke green a bit, looks to me like a mixed market today
I agree and couldn't have said it any better, looks like Intel will be the scapegoat for today.
gotta love Cramer, harder it hits bottom better it will bounce, at least that's my take on it.
You may want to go back and find a better source of information, especially if you honestly believe guns are less lethal than any of Taser Internationals products. It sounds to me like you have an axe to grind for a personal reason and know absolutely nothing about this company or their products.
I've been a trader for quite a few years and have followed Taser International since around 2002, I would say I know the company well. I have traded Taser and will continue to trade Taser because they are a rock solid company with a great product.
I have also used their products and I am extremely familiar with the Taser X-26 which is currently on the market today. Not only have I used the X-26 but I have taken voluntary hits from an X-26 along with thousands of other individuals including the senior staff at Taser International. Although uncomfortable I experienced zero problems afterwards. I can't say the same for other products that are currently still in use today, some of which I have also been exposed to voluntarily and have had to use. No product comes without risk and many times when you hear of a death where a Taser had been used the biased media tends to leave out many, many details. Another thing to keep in mind is that any product can be deadly, especially if not used properly. I am not going to say that Tasers don't get misused, it happens, however this is not the fault of the product or the company and should be dealt with on a whole other level. I can also add that I have personally witnessed a Taser X-26 save someone's life as well as reduce the risk of injury to many, many individuals as well as law enforcement officers.
I have also had the pleasure to deal with Taser's customer service department on many occasions and must admit they are nothing other than top notch when it comes to solving problems and taking care of customers.
I could add much much more to this but believe I have made my point. GLTY
Not the best of days, my take is that markets and ETFC tanked today due mostly to citigroups news this morning. I believe we should recover easily from this, however, if I am wrong and it drops more, watch out if it falls anywhere near 2.08. Not only did it take off nice from there last time, but if it were to do it again, it would be a nice double bottom play. Not to mention a great place to average down if you are holding from the low 3.00's like I am
WON had an amazing little jaunt upwards today then pulled back, I think it may have some more in it for tomorrow
I believe FINL will do quite well, I've watched it for weeks and didn't hesitate a bit to buy in after I seen the post on it on this board.
looks good enough for me to call it a pennant formation, nice upward gap on high volume and consolidating with volume decreasing, not a sure thing but usually a good sign
Check link for better description than I can write
http://www.investopedia.com/terms/p/pennant.asp
most brokerages limit you to three or four round trips (in and out) in a 5 day period on a margin account. Any more than that and they mark you as a day trader. In order to get past that most require you to have minimum of 25,000 capital in the account.
Best to check with your broker to determine their requirements and stipulations as they do vary some.
Depending on how ETFC trades tomorrow I may have to have a garage sale and add some more, IMO that one is a no brainer, just not sure when the big spike is going to hit. When it does though I'm thinking it will be an earth moving event. As I said, I could be looking at it all wrong but my gut tells me to go with it.
RT closed at 6.28, not a bad gain today, hit 6.40 for HOD, if it can hold and possibly get some more gains and find its bottom it should run nicely once investors gain a bit more confidence in it.
ETFC dropped down and bounced off 2.85 support, if it holds the 2.85 support tomorrow it should be a good buy, I look for it to bounce back up to 3.20 - 3.30 fairly quickly. I may look at averaging down tomorrow depending upon how it goes.
I can't help but wonder if that sudden dip with FINL was fabricated to trip some stop losses.
I know when I bought in I bought at ask and it took a bit for my order to fill and when it did it was in partials. She's strung pretty tight on shares from what I have seen so far, we break that 1.84 and up it will go
RT ran back up and punched new HOD at 6.40
SVN, ran back to 2.05, I knew I should've bought in the 1.70's. That's like the third time they have dipped only to run back over 2.00 and did it in a short amount of time every time.
I'm not sure what to think of it yet, I haven't followed it, just caught the news this morning on the big loss.
considering the market today, it's doing quite well in comparison to many others, GLTY
RT, she took a nice run for a minute there but pulled back. Will have to keep an eye on it, may be the start of finding bottom
we'll see how it does after the opening shake out
RT, I'm thinking it may go today for a nice little turnaround