If you want to decrease the amount of speculation in oil (USO) prices, one way to do it is require those doing it to lay more money down when making the bets. They are not talking about diminishing the ability of those to speculate, but just asking them to actually out down more cash. This is not much different than your broker asking you to put down a larger percentage of cash for your margin account or your bank asking for more of a down payment for your house.
* First quarter revenues of $8.0 billion declined 9% compared to the year-ago period and declined 6% from the fourth quarter of 2007. The declines are mainly due to lower average service revenue per customer and fewer post-paid subscribers. * Adjusted Operating Income* was a loss of $253 million compared to profits of $253 million in the first quarter of 2007 and $168 million in the fourth quarter. The decline in Adjusted Operating Income* is due to lower service revenues that were partially offset by reduced operating expenses. * Adjusted OIBDA* was $1.8 billion in the current period compared to $2.4 billion in the 2007 first quarter and $2.2 billion in the 2007 fourth quarter. Adjusted OIBDA* in the first quarter exceeded capital expenditures for the period by a little more than $900 million
Reported diluted loss per share was 18 cents compared to a 7 cent loss in the year-ago period and a loss of $10.28 per share in the fourth quarter of 2007. The fourth quarter results include a loss of $10.32 per share from a pre-tax non-cash goodwill impairment charge of $29.5 billion.
Oh Yea… The company lost 1.09 million subscribers to the competition and average revenue per customer dropped to $56 a month. Sprint’s now has 52.8 subscribers falling even further behind #1 AT&T (T) and #2 Verizon (VZ) who are adding customers each quarter..
Do not expect the upcomingSamsung Instinct to do anything to stopped toe exodus. With new offerings from Research in Motion’s (RIMM) Blackberry and Apple’s (AAPL) iPhone (potentially), I just do not see much interest at all in a new Samsung offering.
That being said, CEO Dan Hesse is doing the right things for the future of the company. It is just that with it being in so much trouble, the here and now will be very painful.
* First quarter revenues of $8.0 billion declined 9% compared to the year-ago period and declined 6% from the fourth quarter of 2007. The declines are mainly due to lower average service revenue per customer and fewer post-paid subscribers. * Adjusted Operating Income* was a loss of $253 million compared to profits of $253 million in the first quarter of 2007 and $168 million in the fourth quarter. The decline in Adjusted Operating Income* is due to lower service revenues that were partially offset by reduced operating expenses. * Adjusted OIBDA* was $1.8 billion in the current period compared to $2.4 billion in the 2007 first quarter and $2.2 billion in the 2007 fourth quarter. Adjusted OIBDA* in the first quarter exceeded capital expenditures for the period by a little more than $900 million
Reported diluted loss per share was 18 cents compared to a 7 cent loss in the year-ago period and a loss of $10.28 per share in the fourth quarter of 2007. The fourth quarter results include a loss of $10.32 per share from a pre-tax non-cash goodwill impairment charge of $29.5 billion.
Oh Yea… The company lost 1.09 million subscribers to the competition and average revenue per customer dropped to $56 a month. Sprint’s now has 52.8 subscribers falling even further behind #1 AT&T (T) and #2 Verizon (VZ) who are adding customers each quarter..
Do not expect the upcomingSamsung Instinct to do anything to stopped toe exodus. With new offerings from Research in Motion’s (RIMM) Blackberry and Apple’s (AAPL) iPhone (potentially), I just do not see much interest at all in a new Samsung offering.
That being said, CEO Dan Hesse is doing the right things for the future of the company. It is just that with it being in so much trouble, the here and now will be very painful.
After a few week’s of wondering why I cannot tun on the tube without sees Berkshire’s (BRK.A) Chairman on it either in an interview or an a soap, it appears I am not the only one.
Now, is this a bad omen for shareholders? I do not think so. I think is will eventually tarnish Buffett’s legacy. Why? The more you saw and the more you predict to more people to more likely you are to be wrong. When that inevitably happens, some folks will seize on it and attempt to define him with it..
Buffett’s is also starting to be accused of “talking his book”. That is never a good thing and it then casts a shadow on everything you say from being “analytical” to perhaps trying to influence the results of one’s investments publicly. In the past Buffett was heard from once or twice a year and what he said was gospel. I have notice lately that his proclamations are beginning to be lumped in with the rest of the “noise” out there.
Where he the company’s “former” chairman and not running the book, none of this would be a big deal at all. But, since he is, there are more mumbling’s out there.
It is only a matter of time that the books start coming out now that he is giving them fodder on almost a daily basis…
The common theme emerging is that theme parks may have a rough go of it this summer. I am not so sure..
Check out this video, the jist is that while Six Flags (SIX), Busch Gardens (BUD) and Cedar Fair (FUN) may suffer, Disney (DIS) ought to sail through unscathed.
Some empirical evidence may just suggest that may not be so true. A recent trip to Dunkin Donuts revealed the Six Flags summer coupons. A promotion of some type between the two companies in the Northeast has been a regular thing for the past few years.
In past years, coupons could be had all spring and even into the summer. Yesterday’s visit revealed only a few left. Of course I had to inquire and was told that they could not keep them in stock. Now, the price of the coupons with the ticket was $29.99 each so this was not a give away type thing and is in the same ballpark as past promotions.
The “coffee jockey” or “barista” (whatever we are supposed to call them) told me people have been coming in and asking for them this year, unlike past years.
It is an odd situation. Higher gas prices may just mean less “long distance”t most folks are not traveling that far for a Six Flags anyway. If their general audience comes in from 200 miles or so, then an additional $1 per gallon in gas for most folks is only another $10 on the travel bill. If you offset that with admission savings, it is a wash.
Do I think Six in a good investment? Not really, they just carry way too much debt and some very smart people are selling. I do think other operator may get knocked down a bit too far and offer a short term opportunity.
Since people seem to be clamoring for the ticket coupons, this may be the way they plan to have fun this summer, rather than a week at the shore.
Monday’s Picks Jeff Macke says if Fedex drags down UPS (UPS) $70.29 then UPS is a buy on the dip.
Guy Adami likes Tesoro (TSO) $21.96 in anticipation of a relief rally.
Along those same lines, Karen Finerman suggests the Valero (VLO) June 45 calls.
Pete Najarian thinks Hewlett-Packard (HPQ) $49.13 is a buy ahead of earnings.
Friday’s Results Guy Adami likes Cisco (CSCO) $25.7 as a buy. Close $25.49 LOSS
Karen Finerman prefers getting long JP Morgan (JPM) $46.05 Close $46.67 GAIN
Pete Najarian suggests picking up shares of Nike (NKE) $64.8 Close $64.87 GAIN
Jeff Macke thinks it time to take profits in Activision (ATVI) $27.7 Close $31.64 GAIN
2008 Records: Brian Schaeffer= 0-1 Carter Worth= 1-1 Jon Najarian= 4-3 Jeff Macke= 36-28-1 Tim Seymore= 16-13 Guy Adami= 36-32 Pete Najarian= 35-30 Karen Finerman= 31-29-1 Joe Terrenova= 1-1
2007 Results (Since 6/21): Guy Adami= 58-46 = 56% Jeff Macke= 60-40 = 60% Pete Najarian= 49-41 = 54%
Wilbur Ross talk to Bartiromo and Kudlow about what he sees.
First, opportunities internationally
Then, the state of the consumers mentality:
Ross is buying so his opinion, is worth noting. He is not saying we have bottomed but that “asset prices are attractive”. Given his stunning track record, his opinion is well worth noting.
NBR anchor Susie Gharib talks with Berkshire Hathaway chairman and CEO Warren Buffett at his company’s 2008 shareholders’ meeting in Omaha, Nebraska. This extended interview is a web exclusive.
EXCLUSIVE: Warren Buffett and Bill Gates reveal their thoughts to FOX Business on the Microsoft-Yahoo fallout, the state of the economy and where they are looking to invest next
THIS IS A LIVE BLOG OF THE QUESTION-AND-ANSWER SESSION BEING HELD BY WARREN BUFFETT AND CHARLIE MUNGER AT THE BERKSHIRE HATHAWAY ANNUAL SHAREHOLDERS MEETING IN OMAHA. MOST RECENT DISPATCHES WILL APPEAR AT THE TOP. ALL TIMES ARE CENTRAL.
THIS IS THE FIRST HALF OF THE BERKSHIRE HATHAWAY ANNUAL SHAREHOLDERS MEETING AT THE QWEST ARENA IN OMAHA, NEBRASKA ON SATURDAY, MAY 3, 2008 AS LIVE-BLOGGED ON WARREN BUFFETT WATCH. ALL TIMES ARE CENTRAL.
On Wednesday the 7th, Dr Pepper Snapple Group (DPS) officially began to trade. Its $25 price tag is lower than many expected after the soft-drink maker was spun-off of its parent company, Cadbury Schweppes.
Pabrai began by reiterating the notion that we as investors or entrepreneurs should look for opportunities with low risk but high uncertainty. If your risk is low, losses will be not break you. Since Wall Street hates uncertainty, it tends to misinterpret certain situations and companies, over-punishing them in the process. This gives patient, diligent value investors a potential advantage.
Whitney Tilson and Glenn Tongue of T2 Partners kicked off day 2 with a sobering look at the mortgage crisis. For his part, Tilson believes that we have not yet seen the worst.
Just returned from the Wesco shareholders meeting and, in general, felt the questions were much better than the ones asked at the BRK meeting. Yes, there were still the occasional, “How do I make a gazillion dollars like you did?” questions, but many more questions were about the future of the economy, derivatives, and BRK/WSC.
