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FirstAlert: 1-3 P.M. Investrend / Bestcalls
(InvesTrend Via Acquire Media NewsEdge)
August 21, 2008 (Financial Wire) Conference calls scheduled at 1 to 3
p.m. on Investrend Broadcast via partner BestCalls include Echo
Therapeutics Inc., (OTCBB: ECTE), GeoPharma Inc. (NASDAQ: GORX),
Bridgeline Software Inc. (NASDAQ: BLSW), Shoe Carnival Inc. (NASDAQ:
SCVL), Provectus Pharmaceuticals Inc, (OTCBB: PVCT), Janel World Trade
Ltd., (OTCBB: JLWT).
Conference calls are often impacted by market trends, geopolitical
conditions, news coming from conferences and economic releases.
(By Philip Holmes) Stocks ended higher on Wednesday despite volatility
in crude oil prices and evaporating confidence in Fannie Mae and
Freddie Mac shares. Oil prices sloshed around all day. They were up by
more than $2 before word came from the gubmint that crude inventories
for the week ending August 15 were quite a bit higher than anticipated.
Still, crude oil prices ended the day higher, with September WTI crude
oil futures at $115.65 per barrel by the end of the session. Shares of
the GSEs, Fannie and Freddie, did not fare so well. The stocks hit
their lowest point in 20 years on Wednesday, as investors expressed
doubt about the companies ability to cover $223 billion of bond debt
that will come due by the end of the Q3. Many observers see a federal
bailout in the near future. Not so fast, says Fortune s Colin Barr. The
Bush administration is in no hurry to nationalize such a big chunk of
the mortgage industry. Certainly not in the months before the election.
Fannie and Freddie may need propping up, says Barr s experts, but it
will happen slowly and reluctantly. As Barr points out, If Fannie or
Freddie can't find new buyers for their debt, Treasury would face the
difficult task of supporting the companies without either rewarding
shareholders or exposing additional problems in the financial sector.
That last bit would likely happen in any bailout scheme that hurt the
GSE s preferred shareholders. Barr cites FBR Capital Markets analyst
Paul Miller, who points out that a chunk of that preferred stock is
held by regional banks, who are already taking balance sheet heat from
the collapse of real estate and commercial lending markets. A sudden,
additional portfolio loss could lead to big writedowns that would add
to their capital problems, according to Barr. So, don t expect a big
move to socialize mortgage losses in the near future. But do keep an
eye on initial jobless claims for the week ending August 15. They ll be
released on August 21, along with the August Philadelphia Fed index.
The Investrend Earnings Calendar features China TechFaith Wireless
(NASDAQ: CNTF), expected at $0.08; Hastings Entertainment (NASDAQ:
HAST), expected at $0.13; Perfect World (NASDAQ: PWRD), expected at
$0.40; Tina Solar Ltd. (NYSE: TSL), expected at $0.80.
The Investrend Events Calendar showcases ARNA, QCOM at American
Electronics Association Green To Gold: Monetizing the Clean Tech
Phenomena Conf; The Armed Forces Communications and Electronics
Association (AFCEA) LandWarNet Conference.
The Investrend Money Index is an indicator of the depth of market
direction or indirection. While not always including the same stocks,
the NYSE/NASDAQ 50 Most Actives indicate the direction in which the
mass of money is flowing. Last session's trading showed 26 advancers
versus 22 decliners and two unchanged. There were no significant
advancers. Decliners followed Fannie Mae (NYSE: FNM) down 26.79%,
Freddie Mac (NYSE: FRE) down 22.06%, Ual Corp New (NASDAQ: UAUA) down
8.62%, Ambac Finl Grp Inc (NYSE: ABK) down 7.12%.
Vote in the Investrend Poll Question of the Day at Investrend
Information (http://www.investrendinformation.com).
Investrend Website of the Day: http://www.epigenome.org/
Quote of the Day: "Will it not be wise to allow the friendship between
nations to rest upon deep and permanent things? Irritations of the
cuticle must not be confounded with heart failure." Benjamin Harrison
Today is: Spumoni Ice Cream Day, National Chocolate Pecan Pie Day.
Happy Birthday: William "Count" Basie, Chris Schenkel, Wilt
Chamberlain, Kenny Rogers, Jackie DeShannon, Archie Griffin, Kim
Cattrall, Carrie-Anne Moss.
Today in History: Pueblo Indians captured Santa Fe from Spanish in 1680
during the Pueblo Revolt. James Cook formally claimed eastern Australia
for Great Britain in 1770, naming it New South Wales. The Venetian
blind was first patented in 1841 in the United States by John Hampson.
The American Bar Association was founded in 1878. The first successful
adding machine in the United States was patented by William Seward
Burroughs in 1888. President Eisenhower signed an executive order in
1959 proclaiming Hawaii the 50th state of the union.
[FirstAlert was created by Gayle Essary, founder of Investrend
Communications, Inc., parent of Investrend Information
(http://www.investrendinformation.com). The opinions expressed in
FirstAlert do not necessarily reflect the opinions of Investrend.]
FinancialWire is a fully independent, proprietary news wire service of
Investrend Information (a division of Investrend Communications, Inc.).
FinancialWire news is written by professional journalists, dedicated
to pure journalistic standards. FinancialWire does not receive or
accept any compensation from any individual or subject company (or
representative thereof) for its news or opinions. All FinancialWire
news is available at http://www.financialwire.net . Please address any
inquiries to feedback@financialwire.net .
Free annual reports for companies mentioned in the news are available
at http://investrend.ar.wilink.com/?level=279 .
(Distributed for Investrend Communications, Inc. via M2 Communications
Ltd (www.m2.com))
Copyright ? 2008 M2 Communications Ltd.
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