WesBanco revises Q2 results lower

WesBanco Inc. says its second-quarter profit fell more than originally reported because of a soured real estate loan.

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PNC Financial earnings lower than expected

PNC Financial Services Group Inc. said Thursday its second-quarter profit dropped 87 percent largely because of an FDIC assessment, increased credit losses and lingering costs of integrating National City Corp. into its operation.

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Deputy SecDef could earn $500K lobbying Pentagon

The man nominated to be the Pentagon's second-in-command could make at least a half-million dollars next month with vested stock he earned as a lobbyist for military contractor Raytheon.

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"As shares of bailed-out banks bottomed out earlier this year, stock options were awarded to their top executives, setting them up for millions of dollars in profit as prices rebounded, according to a report released on Wednesday.

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Even the Oracle and his picks are suffering the effects of the recession.

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Troubled tone. Zw 11.1

Rough start GM to declare bankruptcy today. This week marks rate decisions by Bank of Australia, BoE, ECB and Bank of Canada. Look for improvement in today's ISM manufacturing index Last night at dinner I was shown a piece, whereby 1,100 German companies were filing or in the pro …

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Fed days are always great fun.

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In the same manner we handle toxic waste, we will handle toxic assets: we will bury them in a bad bank for 20 years and forget about them until better times arrive. This is the current world plan to jump-start our economies and credit markets; however, this plan has no future.

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Revenue overall wasn't in terrible shape, as the $13.7 billion pulled in was only six percent off last year's figure.

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It only took the mildest encouragement to ignite a rally on Wall Street Tuesday: news that Citigroup has managed to make a little money.

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When all is said and done, perhaps the best thing that will be said of 2009 is that it only lasted a year. Hoofy of Minyanville

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Excerpt from article:The Federal Reserve said on Tuesday that it would provide financing to shore up money-market mutual funds. [to the tune of up to $600 Billion] Article by: MICHAEL M. GRYNBAUM

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The current decline in the financial stocks is on pace with that of the Dow post 1929.

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Bloomberg reports: Merrill Lynch & Co. and UBS AG, fresh from raising a combined $47.3 billion after losses on subprime investments, are using their capital to help rivals find cash.

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Bloomberg reports: U.S. stocks fell for the first time in four days as Goldman Sachs Group Inc. predicted banks will have to raise $65 billion in new capital to cover losses and housing starts and industrial production trailed forecasts.

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There is something very wrong with either a company or an industry where you are one of only two real players, you enjoy a record year for orders, you get government subsidies...and you still manage to post a billion dollar red number on the bottom line.

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Apple recently made available its first quarter financial data for 2008, which displayed record earnings for the company.

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Apple recorded net revenue for its first fiscal quarter, ended Dec. 29, of $9.6 billion, a 35 percent year-over-year increase, beating estimates of $9.47 billion from analysts polled by Thomson Financial.

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Strictly speaking, Chrysler's operations currently lose it money and have for some time. The Cerebus' capital injection keeps it viable, but the money is going to have to be paid back and it seems that the terms may make the company bankrupt.

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A very poor result, even though the numbers may superficially appear to be acceptable - $30 billion net in the quarter is hardly food stamp territory.

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A "correction" occurs when a market falls 10 per cent. The S&P Financials index did that in the last week alone. A "bear market" starts once an index falls 20 per cent; and the S&P financials index has done that since February.

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There are two things about college that everyone seems to agree on: 1) it's becoming ever more expensive and 2) it's becoming ever more indispensable.

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The Dow Jones averages are unique in that they are price weighted rather than market capitalization weighted.

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The EUR 239 million loss for EADS is not perhaps as bad as expected given the A380 woes and reflects the strong demand for the bread and butter A320. However, the future outlook remains grim.

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Innovation matters! Toyota and Ford compete in the same industry, but Toyota's numbers beat Ford's numbers in every category. It comes down to doing something new -- and better -- again and again and again.

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Dell on Monday said it will delay filing its second quarter fiscal report due to an ongoing informal investigation by the Securities and Exchange Commission over previously disclosed accounting irregularities.

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