Wednesday, February 21, 2007

The! Biggest! News! of! the! Day! - Not CPI Data, Hewlett-Packard Earnings or JetBlue Warning

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

  • Concerns about inflation as the consumer price index came in higher than expected...the overall CPI rose 0.2% while the core rate increased 0.3%...both numbers where higher than what was generally expected and stock futures plummeted on the release...the S&Ps are now more than five points below fair value...
  • Earnings from Hewlett-Packard (HPQ)...despite posting better-than-expected numbers, the stock is indicated to open with a slight loss....
  • An earnings warning from JetBlue Airways (JBLU)...the airline lowered its forecast "citing service disruptions and recovery in the wake of the Feb. 14 ice storms in the New York area"...curiously though, the stock is showing a slight gain in the pre-open action...
  • A warning about the dangers of commodities as it is said "You're better off playing poker in Vegas"...
  • A look into what eBay (EBAY) is doing to boost its stock price...
  • Reports that Google (GOOG) is still searching for a television partner...
  • A decision by Merck (MRK) to suspend "its lobbying campaign to persuade state legislatures to mandate that adolescent girls get the company's new vaccine against cervical cancer"...

While those are all stories worth watching, I think it is obviously clear that the biggest story is this - Hong Kong warns on rodents in pigs' clothing...apparently there has been a huge influx in demand for piglets as people have rushed to buy them for good luck....however "what they bought instead was a type of hairless rodent that looks like a pig"...I guess that any unscrupulous shopkeepers didn't bother to read about the punishment for the recent ants scam...

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