Filed under: Earnings reports, Bad newsThere is something rotten in Denmark, to quote from Hamlet, Act I, as well as in Las Vegas, Louisiana, Mississippi, Colorado, Iowa, and Florida. Gambling havens, once thought recession proof, are in trouble. Customer numbers are down, as are gambling, gift shop, hotel, and restaurant revenues. Casinos in Las Vegas have been hard hit, according to a recent article in the Wall Street Journal, because of billions of dollars of debt to finance overambitious expansion plans. Tropicana Entertainment filed for Chapter 11 in May, defaulting on $2.67 billion in bank and bond debt. But smaller casinos are also feeling the pain.
Isle of Capri Casinos Inc. (NASDAQ: ISLE) recently reported 4Q and FY2008 results. Snake eyes. Investors know they are not in for good news when the CEO spends the first few paragraphs of an earnings release discussing what a "transformational period" the last year has been. That’s corporate-speak for "...
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Hillary Clinton won’t have the last laughPost Date: 2008-03-04 16:01:28
Filed under: Politics, Presidential electionsMaybe it took the prospect of going down to an inglorious defeat to a relative political novice to get Hillary Clinton to loosen up.In the last 72 hours, the New York senator has appeared on both "Saturday Night Live" and "The Daily Show." On both appearances, she was calm, relaxed and natural, qualities that have been decidedly lacking in her campaign. The question heading into today’s important Texas and Ohio primaries is whether this new -- o...
Allergan is part of the skin care revolutionPost Date: 2008-03-04 16:02:41
Filed under: Allergan (AGN), Stocks to BuyThe choppy/consolidating (or perhaps worse) market conditions sometimes give the impression that growth plays do not exist, but that is not the case, and one growth company worth reviewing is Allergan.Allergan, Inc. (NYSE: AGN) is a leading producer of ophthalmic, neuromuscular and skin care pharmaceuticals, and, via its March 2006 acquisition of Inamed Corp., aesthetic products.Analysts see 10-13% revenue growth in 2008, but ...
Is Overstock CEO Patrick Byrne defending the Universal Express fraud?Post Date: 2008-03-04 16:03:10
Filed under: Law, ScandalsIf you’ve read my posts on Overstock.com, Inc. (NASDAQ: OSTK) CEO Patrick Byrne’s allegations of a vast conspiracy of market manipulation involving a character from Star Wars and crooked reporters, you know that I’m a bit skeptical. But for this post, let’s put all that aside and assume that Patrick Byrne’s whacked out conspiracy theory is right on: there is indeed a cabal of hedge fund managers and "captured journalists" working ov...
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