Might as well be, because it's sure not earnings season. Our old friend Ambac was out today with a mere loss of almost $12/share. UPS said the economy stinks and guided lower. Drugmakers are getting hammered as Schering-Plough and Glaxo earnings diminished significantly. Delta lost $6 billion dollars. Yahoo made a whole 11 cents. RBS and NCC had to raise $24 billion and $7 billion respectively to stay afloat, diluting their shareholder value to 0. The Brits are following our lead by allowing banks to swap out crummy MBSs for treasuries. Aside from Google, can anyone point to earnings anywhere? Yet financials continue to weather and homebuilders are returning a huge profit so far this year. Makes sense. No one can borrow money or sell a house.
Grupo Prisa: Why the Sudden Rise?
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Today, I'd like to revisit Grupo Prisa (PRIS), a Spanish media stock I
recommended in the past and then got out of, citing concerns about Europe's
inabilit...
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