GHM Up 65%

Oil is above $60 a barrel. Investors are buying on the expectation that the end of the recession is in sight. And hopefully, Daily Profit readers are benefiting via my recommendation of oil services company Graham Corp. (AMEX:GHM). Graham is breaking above $15 a share today. It’s now up 65% for those who have been following me for a while.
 

BAC and Banks Lead One Week Gains

The "Stress Test rally" didn’t last long. Bank stocks had a good day Friday. In fact, they had a good week. Bank of America (NYSE:BAC), for instance, went from $8.70 to $14.17, a +62.8% gain. With that type of one-week gain, it’s not too surprising that banks backed off today as investors look to take profits.
 

What will full employment look like?

Last week, the Baltimore Sun laid off 61 employees. I heard that a couple reporters were actually called on the phone while they were sitting in the press box covering an Orioles game and told they were no longer Sun reporters. 
It’s no secret that the newspaper biz has gotten tough. The Sun’s parent, the Tribune Company, filed for bankruptcy protection in December of 2008 after its chairman, Sam Zell, took the company private. Analysts knew he was loading too much debt on the company, but the decline in advertising revenues at newspaper was the nail in the Tribune’s coffin.

Big Banks: They All Fail

I figured Citigroup (NYSE:C) would be asked to raise more cash to insulate it against further losses. But when I read that the Treasury will raise reserve requirements for all 19 banks subjected to the Treasury’s "stress tests," it suddenly made sense.
 

Bank Stress Test to Discredit BAC and C Earnings Report?

Banks are getting pounded this morning after Bank of America (NYSE:BAC) handily beat earnings estimates. Analysts were expecting $0.04 in earnings per share; BAC came in with $0.44. 
As I write, BAC shares are down 15%. Now, after Citigroup’s earnings, BAC was expected to beat its number. Are you wondering why investors seem so disappointed at what looks like a solid quarter from a troubled bank?