The Economy grew only at .6% in 4th Quarter 2007. The economy for the whole year grew at just 2.2%.
The U.S. Corporate profits fell 3.3% in 4th Quarter! That is much bigger than the expected .1%. If profits fell 3.3% in 2007, you can guess where they went in Q1 of 2008.
Write-downs
Oppenheimer analyst Meredith Whitney says Merrill and UBS may lose money this quarter and write-downs could be $6 billion and $11.1 billion, respectively! Seems like there is only one smart (or honest) analyst out there. She is usually leading the pack. Unlike others who come out with their estimates after the write-downs.
She also said yesterday that Citi's writedowns could total $13.12 billion.
http://www.cnbc.com/id/23823780
Job-less claims
Initial job-less claims fell by 9,000 to 366,000.
Thursday, March 27, 2008
Morning News
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