Financial News

Gilead Sciences, Inc. (Public, NASDAQ:GILD) reported earnings yesterday, but the blow-out-quarter doesn't seem to be impressing investors today, as shares are down 3%.

Here is a summary of the call:

* Net profit 72 cents/share beats 67 cents/share estimate

* Revenue increases 31 pct to $1.8 billion

Gilead Sciences Inc said on Tuesday its quarterly profit rose 36 percent, due in part to royalties on sales of the flu drug, Tamiflu, but sales of its core HIV drugs failed to impress investors and its

247WallSt.com does some numbers on Berkshire (BRK.A) and despite the recent comeback Buffett was still being cautious. Now that the recovery is afoot, Buffett is finally getting more positive or at least much less negative.  For some reason it feels as though Buffett is starting to become a lagging indicator.  Rock on Warren.

Hussman Funds very own John P. Hussman believes stocks are currently overvalued and taking all things into consideration, we are approaching a similar point just before the Bull Market ended in 1980 and stocks started sliding down until 1982.  Coincidence or shitcanness?

The Energy Select Sector SPDR (NYSE:XLE) is looking tempting right about now, as oil hits $80 a barrel, and Oil Demand is expected to rise.

In a recent memo, the International Energy Agency indicated that global oil demand is expected to rise at a higher rate than previously anticipated over the next year as the economic recovery moves along.

World demand for 2009 is expected to be 84.6 million barrels per day, an increase of 200,000 barrels from the previous forecast but still 1.7 million barrels below 2008 levels. “Things are looking better from an economic perspective,” said David Fyfe of the IEA, an energy adviser

Awesome, college tuition is climbing at a faster clip than the availability of financial aid, putting a degree further out of reach for many Americans. 
Have fun paying extra for that degree when you can't find a job thanks to the millions that have already been lost to the Recession.  Tuition and fees at private 4-year schools rose 4.4% and public 4-year universities are up 6% this year, according to a survey released by the College Board Tuesday.

So says Keefe, Bruyette & Woods giving Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) a price target of ZERO, that's right $0.00.  Both FRE and FNM finished down 20% today after KBW said their common and preferred shares would be "worthless" given the nearly $100 billion they will continue to owe the government, even if recapitalized. How about that for moving the market, one analyst just rocked the goverment mortgage business with a single downgrade.

The iShares Dow Jones US Basic Mater (NYSE:IYM) and the PowerShares Dynamic Basic Material (ETF) (Public, NYSE:PYZ) are both looking like decent plays right now.

From ibankcoin.com:

Apple Inc. (NASDAQ:AAPL) is set to report earnings today (Oct 19th) and with already 30 million iPhones sold investors are hoping the company can keep growing its arsenal of incredible products and expand its reach even more in the smart phone and PC sales, hello $200 a share?

Back on Feb 25th we posted this classic article along with some great Fat Elvis photos.  No really, the suit fits fine and it looks great on you.  Viva Las Vegas or hit rock bottom like Fat Elivs after one too many helpings of spaghetti. Like it or not, Las Vegas Sands (NYSE:LVS) shares finished the day after-hours at $2.23. So all you can eat at the Sands or throw up now? A full plate of Ragu pasta has never looked better.

Get on board, next stop for Google Inc. (NASDAQ:GOOG) shares is $600 says UBS, Needham, Kaufman Brothers, and Credit Suisse. All four firms have raised their price targets on Google in the past two weeks from the $500 range to $600 and UBS says $635!