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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (33910)	7/20/2005 12:15:02 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Eastman Kodak Co., swinging to a second-quarter loss, said it would step up its job cuts to as many as 25,000 positions in an accelerated effort to cut costs in the face of a steeper drop-off in consumer film sales. Kodak's quarterly loss from continuing operations was $146 million, or 51 cents a share. A year ago, it posted a profit of $136 million, or 46 cents a share. MarketWatch

To: Crimson Ghost who wrote (33910)	7/20/2005 12:18:29 PM
From: mishedlo	Respond to of 116555

Fitch downgrades Ford, Ford Credit to BBB- Wednesday, July 20, 2005 4:03:20 PM afxpress.com Fitch downgrades Ford, Ford Credit to 'BBB-' SAN FRANCISCO (AFX) -- Fitch Ratings on Wednesday downgraded the senior unsecured debt of Ford Motor Co. , Ford Credit and various affiliates to BBB- from BBB, as well as the ratings on the Capital Trust II securities to BB from BB+. Fitch also affirmed the F2 commercial paper ratings. The outlook remains negative. Fitch said the move reflects the deteriorating profitability of Ford's North American operations, most recently affected by new pricing initiatives, higher commodity costs and supplier issues. Fitch expects that Ford and Ford Credit will remain investment grade through 2005. It also downgraded Hertz to BBB- from BBB, citing the company's ownership by Ford This story was supplied by MarketWatch. For further information see www.marketwatch.com ========================================================= Why should Ford remain investment grade? Sheeesh Mish

To: Crimson Ghost who wrote (33910)	7/20/2005 12:21:02 PM
From: mishedlo	Respond to of 116555

GM lost $286 million, or 51 cents a share, in the quarter, compared with earnings of $1.4 billion, or $2.42 a share, last year. Adjusted for items, the company lost $318 million, or 56 cents a share, in the 2005 quarter. Sales slipped 1.6% to $48.5 billion, even though June sales increased 41% due to the success of its "employee discount for all" promotion. The results missed Wall Street estimates by a wide margin. According to Thomson First Call, analysts expected GM to earn 3 cents a share in the quarter. Analysts expectations for GM's 2005 earnings performance vary from a loss of $3.44 a share to a gain of 77 cents a share. On average, analysts polled by Thomson First Call are expecting a loss of 76 cents a share. Shares of GM were recently down 59 cents, or 1.6%, to $36.24. More here.... GM blames health costs tinyurl.com