Financial News from Fox Business from 6/3/2009

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Recap of "Fox Business" - 6/3/09

Ockham's daily Recap of Fox Business.

Listed below are stocks that were mentioned in Fox Business's Fox Business on Wednesday June, 3rd.


Want to know everything that was said on Fox Business? Then you have to watch it. Visit Fox Business for show times and channel guides.
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Fox Business - Fox Business Stock Commentary for 6/3/2009

The most recent commentary from Fox Business followed by Ockham
“… >> I was reading, one of the thing I was reading from a hedge fund trader talking about the armageddon is over. Based on the forward earnings of 2010 and 2011, the banks are the BEST BUY of each that the banks are the best group. What would be your response to that? >> probably not a bad place, but they've had a very strong again, that goes to the armageddon trade. …” …more details…
“… >> this is why we love ben, he gets in. There you get in the thick of that's why we love you. Talk about what we're seeing on a broad base. We are looking at the dow jones/industrials average. Only two names in the green, MCDONALD'S and wal-mart. We're seeing the broad-based volume is not that heavy. What does it tell you? It's more of a selloff of buyer's strike than of the sellers pounding the market. >> the buyers are still there, but they're maybe …” …more details…
“… >> this is why we love ben, he gets in. There you get in the thick of that's why we love you. Talk about what we're seeing on a broad base. We are looking at the dow jones/industrials average. Only two names in the green, mcdonald's and WAL-MART. We're seeing the broad-based volume is not that heavy. What does it tell you? It's more of a selloff of buyer's strike than of the sellers pounding the market. >> the buyers are still there, but they're maybe …” …more details…
“… That's how big the bear market route has been. I like taking a look at some of the stocks that are still in megative territory on the -- negative territory, where it's becton dickinson or AMGEN. I just don't think that the health reform is going to be as negative for the stock as the prices indicate right that's why we're looking at those. >> cheryl: scott, as we look to the next few months here and you look to sectors that …” …more details…
“… And they haven't. That's how big the bear market route has been. I like taking a look at some of the stocks that are still in megative territory on the -- negative territory, where it's BECTON DICKINSON or amgen. I just don't think that the health reform is going to be as negative for the stock as the prices indicate right that's why we're looking at those. >> cheryl: scott, as we look to the next few months here …” …more details…
“… For them to compete. >> is there a rivalry set up -- there always has been -- but particularly now between g.M. And FORD and chrysler, because FORD hasn't taken government money and the others have? >> FORD is certainly trying to paint it that way. They're very proud of the fact that they arranged loans that have gotten them through this downturn so far. They are pointing out they haven't taken the government money. They are making sure they get most of the same concession from unions and others so they will be competitive. FORD is feeling pretty good about itself these days. >> cheryl: but, mark, they're sitting on a lot of debt right now, about $27 billion in debt. They don't, they have the labor issues the same as the other guys but they don't have the bankruptcy court to help them work through the agreements. Does it end up hurting FORD in a competitive way? >> the debt is the big question. There are $27 billion now. They will be higher before the downturn ends. That will be a problem for there is no question about it. On the labor side, the union seems to realized if they give general motors and chrysler a deal, they pretty much have to give FORD the same set of concessions or they're cutting their own >> david: mark, we have seen, it's true, case in the past where chrysler received a loan from the government …” …more details…
“… Do they have a valid argument when they make that this afternoon? >> I think so. General motor s motors has twice as many dealerships and TOYOTA and sell maybe 20% more when you have that many chevrolet, buick, whatever it is dealerships close together, they compete for price, they don't get as many customers and they can't pay their people as much as the neighbor as TOYOTA dealer can. All of that makes it harder for them to compete. >> is there a rivalry set up -- there always has …” …more details…
“… Chrysler bankruptcies by next year. At least the red wings are leaving for the stanley cup. That's one positive. >> cheryl: is the motor city going to rebound? We're joined by auto CIT frick the "detroit free with unemployment skyrocketing in the city of detroit, it can't be good news as more plants close in. What does it mean to the …” …more details…
“… Right now on biogwen. They're closing voting at the shareholder meeting and the company says the result and carl icahn's proxy fight still being tabulated. BIOGEN will issue a statement later today but may not have a final vote count. Certainly mr. Icahn is trying to get a handle on the board and he may be close at this >> six g.M. Plants are set to …” …more details…
“… Copper is down 4%. Despite also, I can tell you one name, newmont got an upgrade at JPMORGAN. Outperform from sector perform at rdc can. Despite the upgrades, you can see the metal and mining getting hit hard today. Look at the movers worth watching. As we continue, I have to …” …more details…
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NASDAQ 1965.96

-7.64  -0.39%
S&P; 500 979.26

2.97  0.30%
^DIA 90.97

0.34  0.38%