Friday, January 19, 2007

The! Biggest! News! of! the! Day! - Not Earnings from IBM, General Electric, Citigroup or Motorola

Here are some of the contenders for today's biggest...news...of...the...day...

  • An earnings report from IBM (IBM) that failed to impress the Street...earnings did come in ahead of analyst estimates but some raised concerns about weakness in hardware sales...
  • Earnings from Citigroup (C)...the financial concern showed a 3-percent increase in operating profit for the quarter...
  • A restatement from General Electric (GE)...earnings matched forecasts but the firm also said they would need to restate earnings going back to 2001 to resolve accounting issues related to interest rate swaps...
  • Earnings from Motorola (MOT)...MOT warned earlier this month and today's report discussed concerns about handset margins...
  • Concerns that commodity funds may roil agricultural commodities...according to the Commodity Futures Trading Commission "Wall Street funds control a fifth to a half of the futures contracts for commodities like corn, wheat and live cattle"...
  • A look into the volatility surrounding oil...it is said that Wall Street investment banks are benefiting as they offer customized hedges but some question whether the Street is "causing the volatility"...

While those are all stories worth watching, I think it is obviously clear that the biggest story is this - Mirror, mirror on the wall, is this dress for me?...according to the article "a mirror equipped with infrared technology that sends a live video feed to any cell phone, e-mail account or personal digital assistant device selected by a shopper"...wait a minute - you mean that at any time I could get that dreaded question from my wife - "Honey, do these jeans make my..."...I am scared...must destroy cell phone...do they still make pagers, maybe that would be safe...

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