I have pointed out repeatedly that media stocks are suffering a two pronged assault from cyclical and secular challenges. Making matters worse is that the cyclical downturn in the economy might be accelerating secular trends. Investors certainly believe this as evidenced by the combination of falling near-term and long-term estimates and a drop in relative […]
Bloomberg is reporting a March 17th event to provide a “sneak peak” at new iPhone software, version 3.0. The company introduced a new, next generation shuffle and is now updating iPhone software (the iPhone is all about software). This is being done with Steve Jobs nowhere to be seen and without a rollout at MacWorld. […]
Pali Research is out with a new report on NII Holdings (NIHD). They are reiterating their buy and establishing a $25 price target. The cut estimates further and moved below management guidance but attributed 90% of the reduction to further weakening in the Mexican Peso. In my recent update on NIHD, I explained that underlying […]
The Weekend box office continued its year long win streak but for the second consecutive weekend there was a disappointment from a highly anticipated film. Led by Watchmen, the box office rose 12.7% according to BoxOfficeMojo.com. Every weekend since late December is positive and year-to-date total receipts for the North American box office are up […]
NII Holdings (NIHD) reported 4Q08 results and provided 2009 guidance at the end of February. I thought the 4Q figures were quite good considering the economic environment but the stock sold off sharply due to guidance that was below estimates. However, the guidance miss was due to foreign currency, in particular, the weakness of the […]
The bear market accelerated in February. I think three things were at work. First, economic statistics on a global basis decelerated rapidly in January and February. Second, as corporations reported their year end results they confirmed the accelerating weakness in the economy. Third, Wall Street frustration with government’s response to the crisis boiled over. Put […]
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