Investing Adventures » WM http://investingadventures.com Having Fun with Options Sat, 27 Mar 2010 11:14:42 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 Washington Mutual CEO Ousted: WSJ Report http://investingadventures.com/2008/09/washington-mutual-ceo-ousted-wsj-report.html http://investingadventures.com/2008/09/washington-mutual-ceo-ousted-wsj-report.html#comments Mon, 08 Sep 2008 02:27:45 +0000 Jorge http://investingadventures.com/?p=557 Another one bites the dust!  Reports from the Wall Street Journal indicate that Washington Mutual (WM) are ousting their CEO, Kerry Killinger, this evening.  Seems like as the government is doing some housekeeping, some of the other financial instituions are as well.  Tomorrow’s going to be extremely interesting in terms of market action.  Now I’m thinking we will see a 300-400 point rally tomorrow and it may actually stick.  How long this governement induced rally sticks is anyone’s guess.  I don’t think more than a couple of days but you never know.

For those of you who went long at the close Friday, congrats!  Next time, share that inside info with the rest of us ;)

]]> http://investingadventures.com/2008/09/washington-mutual-ceo-ousted-wsj-report.html/feed 0 PPI Up 1.1%, Crude Hits $113.90 – Life Must Be Good http://investingadventures.com/2008/04/ppi-up-11-crude-hits-11390-life-must-be-good.html http://investingadventures.com/2008/04/ppi-up-11-crude-hits-11390-life-must-be-good.html#comments Tue, 15 Apr 2008 20:24:46 +0000 Jorge http://investingadventures.com/?p=436 This morning, PPI and PPI Core numbers were released for the month of March. PPI came in at 1.1%, about 0.5% higher than estimates. PPI Core came in line with estimates at 0.2%. For a quick recap of PPI and PPI Core, here’s a link to the PPI homepage at the Department of Labor. Remember that PPI is a measure of inflation and PPI Core is a measure of inflation sans food and energy. What does this mean? From my point of view, food and energy costs are rising somewhat rapidly since core rates remained the same from February to March.

Crude futures earlier in the day rose to $113.90 and settled near that level today.

Perhaps it’s a lack of experience, but if two of the most basic needs for the US population, food and energy, are increasing as a pretty good rate, as well as crude and gasoline (closed near $3.35 per gallon today) are rising as well, why is the market taking it as good news? If people are forced to spend more on food and energy, shouldn’t that result in less money available for spending, resulting in a further slowing of the economy?

Earnings Report

Washington Mutual (WM) reported a loss of $1.40 per share while Intel (INTC) came in at $0.25 per share. WM’s earnings report was in line with estimates from last week and as a result are up about $0.20 in after hours trading. INTC, while reporting earnings in line with estimates, reported margins higher than expected. It also appears that INTC is reporting earnings for the rest of the year to remain unchanged which is helping to offset any ideas of a slowdown with the chip maker. INTC’s currently up about $1.75 in after hours trading as a result.

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