As shares of Berhshire Hathaway Inc. (NYSE: BRK.A, BRK.B) plunged over the past year, it became fashionable to ask whether or not Warren Buffett had lost his touch.
Earnings Announcements: Novellus (NVLS)
Tuesday
Economic Reports: Core PPI, PPI, Retail Sales
Will this be the month that we finally see inflation take hold? If expectations come true, it very well could be. PPI is anticipated to show an increase of nearly 1%. Core PPI (which excludes food and energy costs) is expected to show an increase of 0.10%. Retail Sales are expected to post a surprising increase. Most reports I have seen show that retailers are still struggling. I don’t expect this report to beat expectations.
Earnings Announcements: Goldman Sachs (GS), Johnson and Johnson (JNJ), Yum Brands (YUM)
On October 29, 2008 a pipeline company, Western Gas (NYSE:WES), announced plans that made its shareholders very happy. I wasn’t a shareholder at the time but its announcement caught my attention and I began following the company.
As recently as February, General Electric Co. (NYSE: GE) had hopes of maintaining its dividend payout. “We’ve got the cash flow to pay the dividend,” GE Chief Executive Officer Jeffery Immelt said in a Feb. 5 interview with The Wall Street Journal.
Goldman Raises $5 Billion to Repay TARP; Cost Cutting Will Save Royal Phillips $664 Million; Johnson & Johnson Earnings Saved By Cost Cuts; Singapore Forecasts 6%-9% 2009 Decline; Discover to Cut 500 Jobs; LIBOR Rate Dropping Fast; Coal Prices to Stay Low in 2009; Madoff Firm Files Bankruptcy
This promises to be a very busy week with a full calendar of economic reports and earnings announcements, so let’s dive right in and highlight some of the more important ones.
President Obama takes office at a critical time for the US economy, says Andrew Snyder. The bear is raging in the stock markets, but Andrew says there are some diamonds in the rough. He picks the best three stocks for Obama’s first 100 days in office.
Toyota’s Announces 2008 Sales, New Prez; Constellation Unloads London Unit to Goldman; China Urban Unemployment Rises; Kingdom Holding Posts Massive 4Q Loss; WB Cuts 800 Jobs; JNJ Profit Up 14%; Rohm and Haas Sheds 900 Jobs; Google Shelves Print Ads Program
The only reports on the calendar this week are housing related, and it got me thinking: what’s left? Pretty much nothing. As the fairy tale goes, the big bad wolf doesn’t even need to huff and puff; the house has already been blown down.
I should not have to tell you that this is going to be a big week, a monumental week, really – not only for the country, but for Wall Street.
The forces of the universe are pulling against one another. Tomorrow at noon, the nation will gain a leader that has inspired hope in millions of Americans. Economically, Obama’s stimulus plan is viewed as the last chance to keep the nation’s economy from retreating to a full-on depression.
I will be watching closely to see if Obama’s 6-foot-1-inch body shrinks at the exact moment he places his left hand on the bible as the weight of numerous global crises is piled on his back. It will take one heck of a leadership…