The Wall Street Journal writes that the Senate agreed on a $15 billion housing stimulation bill.
The Wall Street Journal writes that Live Nation (LYV) is near a $150 million deal with rapper Jay-Z.
The Wall Street Journal reports that AT&T (T) plans to use Google Android in some of its hansets.
The Wall Street Journal writes that a judge ordered a probe of lending practices at Countrywide (CFC).
The FT writes that as nornal source of home loans have fallen Fannie Mae (FNM) and Freddie Mac (FRE) are driving new mortgages.
ArcelorMittal sees coal price rising 150-200 pct.
Coking coal and Iron ore stocks to keep a watch on, CLF has already broken out. CLF, ANR, CNX, RIO, MTL, WLT, PCX
PCX initiated with a Outperform, target $59@FBRC
Friedman Billings is positive on PCX’s acquisition of Magnum Coal and expected synergies.
LDK- LDK signs 10-year wafer supply agreement
LDK Solar Co., Ltd. announced that it has signed a ten-year contract which is a blend of “Take or Pay” linked with market-based pricing to supply multicrystalline solar wafers to India-based Moser Baer Photo Voltaic Limited, a subsidiary of Moser Baer India Limited. Under the terms of the agreement, LDK Solar will deliver 640 MW of multicrystalline solar wafers to MBPV over a ten-year period commencing in mid 2008 through 2017. MBPV will make a suitable advance payment reflecting the contract value to LDK Solar.
Great news for LDK and the solars could still find some strength after a good run just watch for profit taking and some consolidation at some point. The WFR news does put a damper on things and could negate positive action. I am keeping an eye on SOLF, LDK, YGE, EMKR, CSIQ, TSL, CSUN, SPWR, FSLR, STP, AKNS, ASTI
One of the biggest catalysts for the recent move in the solars is due to the upcoming Congress bill on extending solar tax credits for 8 years, it is rumored to be unveiled soon. Although, Citigroup believes solar stocks are moving higher on a competitor note saying the US government will extend solar tax credits by the end of the month with a new bill before the Senate. While Citigroup’s sources indicate a new bill will be introduced before the Senate later this week that attempts to extend the solar tax credits for 8 years, they believe speculation of a near-term passage of the bill is overly optimistic.
MON: 2008 estimates raised on glyphosate strength@FBCO
Credit Suisse raised MON’s 2008 EPS estimate to $3.32 from $2.82 citing glyphosate strength and corn seed profitability. Shares are Neutral rated.
GRMN putting out a warning this morning and gapping down.
GRMN CFO says sees Q1 revenue down 40%-50% sequentially. GRMN CFO sees Nuvifone adding to earnings in Q3-Reuters
The CFO says sees Nuvifone Q3, Q4 revenue share not exceeding 10%.
GRMN says aims to raise European market share to 25% in 2008.
Watch for continued weakness or some action in GRMN, this morning.
WFR gapping down after warning on Q1.
WFR sees Q1 revenue approx. $500M vs. consensus of $559.23M. WFR lowers Q1 gross margin view to ~52% from ~54.8%. From flyonthewall.com- At current price the shares are hovering near the 200-day moving average at $68.92. This is a major uptrend line proxy and would be bearish if broken. The 50-week moving average at $67.53 is the primary long-term uptrend line proxy.
