Housing Bubble Bursting?

[Randolph Kinney]

Mortgage companies going bankrupt, here come the builders

Beazer Homes Shares Plunge on Speculation Company May File for Bankruptcy

Beazer Homes USA Inc. shares plunged the most ever on speculation the homebuilder under investigation by the FBI may file for bankruptcy.

 

[Randolph Kinney]

U.S. Stocks Retreat, led by Homebuilders, Banks; Beazer Shares Plunge

Most U.S. stocks fell after traders speculated Beazer Homes USA Inc. may file for bankruptcy and Bear Stearns Cos. blocked withdrawals from a hedge fund.

 

[Randolph Kinney]

Canadian Stocks Decline for First Time in Three Days on Credit Concern

Canadian stocks fell for the first time in three days on concern that mounting losses from subprime mortgages may threaten economic growth and demand for the country's resources.

 

[Randolph Kinney]

European Stocks Drop on Debt-Market Concern; RBS, ING, Cadbury Retreat

European stocks declined after Bear Stearns Cos. stopped investors from pulling money out of a hedge fund and Macquarie Bank Ltd. of Australia said two of its funds may post losses as the U.S. subprime-market rout spreads.

 

[Randolph Kinney]

MetLife Has $2.3 Billion in Subprime Mortgage Securities, Kandarian Says

 

[Greg Bell]

I enjoy the wall street Bulls who keep on buying just to watch the DOW slip and slide lower , should be a hoot.Soon many bankruptcy's will start showing as the tide rolls out we will see who is swimming naked.

 

[Greg Bell]

Uh oh...This is not good...What's next.Looks like refi money for purchasing gas guzzling SUV'S has dried up..



Last updated on 8/1/2007 5:22:09 PM Negative EPS Surprises
Sym Exp. EPS Act. EPS % Surprise
SSS 0.85 0.84 -1.176
RCRC 0.35 0.11 -68.57
LVS 0.25 0.23 -8
HPT 1.20 1.19 -0.833
PKD 0.20 0.16 -20
More Negative Surprises>>




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• Oil Closes Sharply Lower After Reaching Record High






GM July U.S. Sales Fell 22%, Ford U.S. Sales Down 19.1% - Update [GM]

8/1/2007 3:36:47 PM On Wednesday, General Motors Corp. (GM) announced sales results for the month of July, reporting that total U.S. vehicle sales fell 22% on an unadjusted basis, due to a cutback in fleet sales to daily rental companies and a challenging industry. Adjusted for one additional selling day in the first seven months of this year compared with the same period last year, GM's July U.S. sales were down 18.5%. Meanwhile, Ford Motor Co. (F) said its U.S. auto sales fell 19.1% in July, partially as the result of a planned reduction in fleet sales. German-American automaker DaimlerChrysler AG (DCX) said its July U.S. sales fell 9% on losses at both its Chrysler and Mercedes divisions. Toyota Motor Sales USA Inc. (TM) said its U.S. auto sales fell 7.3% in July on lower demand for passenger cars. Honda Motor Co. Ltd. (HMC) U.S. sales fell 7.1%, while Nissan North America Inc. (NSANY) recorded a 1.7% gain in U.S. sales.

 

[Randolph Kinney]

Big Winners Bet Against Subprime

Highland Capital benefits from shorting subprime

SAN FRANCISCO (MarketWatch) -- Highland Capital Management LP has generated strong performance this year betting against subprime mortgages and is well positioned to benefit from recent turmoil in credit markets, according to a letter the $40 billion investment firm sent to clients on Wednesday.

 

[Randolph Kinney]

AIG Subprime Mortgage Investments May Cost $2.3 Billion, Analysts Predict

American International Group Inc., the world's biggest insurer, may be sitting on losses of as much as $2.3 billion from securities backed by subprime mortgages, analysts said.

 

[Randolph Kinney]

Prudential Held $15.3 Billion of Subprime Mortgage Securities as of June

Prudential Financial Inc., the second- largest U.S. life insurer, said it had about $15.3 billion in securities collateralized by subprime mortgages at the end of June.