Bear Stearns

[arabianights]

So, Bear Stearns is coming out with its results later today, which seems to me to be the most relevant expected piece of news. I'm not sure when other than before market opening but I would expect it to be about 12 or 1 uk time.

My suspicion is that the results will likely not be as bad as the market has priced in (I am very cynical about how analysts think). And so we are likely to see a rally in index futures, assuming of course that EPS isn't -2 or something.

Your thoughts?

 

[dcraig1]

Barclays sues over sub-prime losses | Business | The Guardian

 

[ammo]

Gross domestic product GDP

So, Bear Stearns is coming out with its results later today, which seems to me to be the most relevant expected piece of news. I'm not sure when other than before market opening but I would expect it to be about 12 or 1 uk time.

My suspicion is that the results will likely not be as bad as the market has priced in (I am very cynical about how analysts think). And so we are likely to see a rally in index futures, assuming of course that EPS isn't -2 or something.

Your thoughts?

gdp numbers at 8.30 ny time

 

[arabianights]

Yup, just noticed that, I was looking at the wrong day. Although there's also PCE as well and I think that may be more fun than GDP.

Anyway, stock futures, aren't really moving much now, but...

EPS OF -$6.90!!! That's about 4 times worse than expected.

 

[Rhody Trader]

Bear Stearns ended up much worst than forecasts, but weakness in the stock ahead of time did prevent any real negative reaction. The big thing to watch is the conference call at 10am Eastern. That's when they'll get more into looking ahead.

 

[arabianights]

Do you expect the conference call to affect global markets much? I should have called it a day by then anyway if I don't have a position to exit, I hope.

 

[Rhody Trader]

I think the big thing folks will be looking for on the call is the prospects for further write-offs. Unless there's some huge figure, I don't think there will be too much impact on the major global markets. I personally think today will end up being an up day for the US.

 

[arabianights]

That's my interpretation too, the one thing that's worrying me at the moment is the rise in the treasuries.