We knew it was going to be nasty and the release of this morning’s unemployment report is taking the Dow lower by 241 points to 8,134 a little over an hour into the trading session. The unemployment rate now stands at 6.7% but the fact that 533,000 jobs were lostRead more
Unemployment Report Weighs On Market
What To Watch For Friday
Wall Street would probably feel safer hanging out with Plaxico Burress at a night club than bet money on Friday’s November unemployment report. The Labor Department is expected to report the jobless rate rose to 6.8% and that another wave of jobs cuts will be coming. As unemployment goes upRead more
Potash Sinks Below $50
Chesapeake Energy Sets New Low
Chesapeake Energy (CHK, $11.84, down $2.26) continued its free-fall today and is feeling the pinch from falling energy prices and increased inventories. Last Friday I mentioned the company was issuing more shares to raise nearly $2 billion in capital which would dilute shareholder value. Chesapeake plans to use the proceedsRead more
Watch List: Movie/ Entertainment
Market Reverses Course
RIMM Puts Whammy on Earnings
It appears we are going to start Wednesday off in the red. The early morning buzz is negative as Research In Motion (RIMM, $37.32) said profits are going to be below Wall Street’s expectations. The company cut its third-quarter revenue and earnings forecast, blaming a strong dollar and the weakRead more
Potash Looking Weak Again
Chesapeake Energy Put Options Hit Target
Here’s a quick update on what is going on with our Chesapeake Energy (CHK, $14.25, down $0.75) trade. The stock lost 5% today and over $2 on Monday after Wall Street seemed disappointed with OPEC having deferred a decision on cutting crude oil production over the weekend. Other energy stocksRead more