NEW YORK (CNN/Money) -
If a polar bear is a snow bear, then what's a snow bull? Who knows? Who cares! Whatever works, baby. Stocks rose sharply Tuesday. Both war and terror jitters seemed to abide a bit today. It's funny. I really thought the blizzard that blasted in here took everyone's mind off the terror warning. In a way it reminds us Mother Nature is bigger than any damn attack! So is the market, baby!
The Dow soared 132.35 points to 8041.15. NAZ up 36.37 to 1346.54, that's 2.8 percent! Hey watch me, Martha Quinn (Where she at? How's Mom?) I mean Andy Serwer, on CNN's "American Morning with Paula Zahn," "In the Money With Jack Cafferty," and Headline News. Read Loose Change to find out the real deal on Joe Millionaire's babe! Here's wazzup:
STOCKYARD To me, today is a real example of what the market can do if we ever figure anything out. Like capturing bin Laden, for one. Or ending the Iraq mess. You will see a nice little "bull run," because the underpinnings really aren't so bad. Again, like Mario Gabelli, I believe we will see a nice intermediate rally over the next 12 months (in the midst of a longer Bear). (See the new issue of "Fortune" for my interview with Gabelli.)
Very broad rally today. Techs doing their natural high beta thang were up more, biggies like EMC (EMC: Research, Estimates), SUNW (SUNW: Research, Estimates), and JDSU (JDSU: Research, Estimates) popped up nicely. AOL (AOL: Research, Estimates), too (see below). Big losers: Darden Restaurants (DRI: Research, Estimates), L-3 (LLL: Research, Estimates), and interestingly Wal-Mart (WMT: Research, Estimates), which lost 7 cents even though Big Bentonville posted good numbers. Simply a sell on the news!
This from Pattie Sellers, (the newest editor at large here!): "At a corporate governance conference, my friend Nicole heard a Brit say, 'CEOs are a lot like teabags. You don't know how strong they are until you drop them into hot water.' (You gotta say it with a British accent.) " Yeah, baby!
ARIANNA HUFFINGTON & ME Lady A. has a new book out called "Pigs at the Trough." That's just fine, (although we do seem to glom upon the latest hot button, don't we?). Except that in your book you cite me TWICE in a little takeout called, "The Ten Stupidest Things Said About the New Economy." (Me and Kudlow, twice!). #2, I wrote: "Even if the market tanks, the vast majority of us will stay in the game. We have to..." And #6:"...a great democratization of the investment business has begun."
Rebuttal point #1: Both things I said are true. Rebuttal point #2: Shut up! Me and Arianna then went toe to toe on "In the Money," (the new TV show I'm on, which airs 3 p.m. Sat. and Sun.). She called me a cheerleader for the New Economy. Maybe she was mad at me when I called her the Zsa Zsa Gabor of TV Talking Heads. Oh, well. (I actually think she's kinda cute! In a very strange way... but that's just me!)
SNOW From Deep Blue: "Us to Mother Nature: No mas! I mean, we are digging out up here! Lots of folks not at work today." Kimmy sent this in: http://www.backyardblizzard.com/ .
Some guy charged my mother $90 for four hours of snow clearing down in Merryland! Lots of shovels and salt and snow blowers sold. Cost cities and states hundreds of millions. Bad for retailers (except hardware stores and Wal-Mart (btw, read Jerry Useem's excellent cover story on Wal-Mart in the latest issue of "Fortune").
Dumbest snow trick was some dude on skis with a rope tied to a truck his buddy was driving down West End Avenue in Manhattan last night. Now that is whack skiing!
AOL (Another Ousted Leader) So Jamie Kellner stepped down as head of Turner's cable TV business. They bring back Phil Kent. Okay. Got to figure, this is Bewkes. Both Jeff and Jamie are very strong personalities. I didn't think that both could last forever. And hint: Jamie reported to Jeff. Chew got it! Message to Dick Parsons: Some stability, please!
VERY ATKINS Doing my own version of Atkins. Big problem: Atkins breath. You eat meat all day. It's like your wife is sleeping with a bear! Had a Wendy's Triple (3/4 lbs. of meat!) for lunch again. Big problem: If you eat it Atkins style (no bun with a fork) it looks DISGUSTING. Also, the Atkins snack of choice is beef jerky. Bought some on the road this weekend. Handed to Mrs. Street Life and asked her to offer me some. "Jerky?" she asked while I stared at the road. "No," I said back. "Actually it's a real smooth ride." OH SIT! I've been waiting years to do that!
Loose Change
LXNT: WHY IS THIS COMPANY doing a buyout for less than the cash on its balance sheet? Is it because management owns such a big stake? Hell-o? POPEYE'S Popcorn Shrimp Box rules!
FROM CHRISTINE CHEN: " My closest brush with reality-TV fame has been with the winner of 'Joe Millionaire.' Zora Andrich, the winner of Joe's sweet luuuv, was homecoming queen at Boulder High School, my alma mater. I must say -- Zora did her hometown proud, since she was the only one of the bunch who didn't embarrass herself. Now I never thought I'd say this, but I think Fox actually did a pretty good job in depicting someone as she really is. The Zora I remember was no more an angelic saint than anyone else, but she really was very nice and sweet, and kind of introverted. I don't totally buy her "extreme poverty" spiel, though. Maybe things were tougher for her than for most, but puh-leeze -- you're talking about affluent Boulder, Colorado, here, where someone with a $100,000 salary feels like a pauper." Thanks, CC!
OKAY, OKAY, SO I BLEW IT! The Battle of Hastings was in 1066. I must have been confusing it with the Spanish Armada, which was in 1588 (July 23)...
Wal-Mart! Now the Most Admired company in the U.S.A! LET'S FACE IT: the two best teams in the country are Arizona and Kentucky. That's it. Sorry, Louisville. The ACC? Just not that good.
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