Tuesday, September 18, 2007
MA (136.72) could get a boost from the strong earnings from Lehman,as GS, BSC and MS are all trading higher. I know MA is not an Investment bank, but you make money by the price of the stock, not the logic. The stock's beaten down, and a "derivative" play on the IB's. At least that'll be the Wall Street spin. Not enough for you? Then look at Best Buy (BBY 44.54) which reported earnings of .55 versus .44. The stock should trade up 6%. So if sub-prime didn't kill the IB's; and it didn't kill the consumer at BBY, then credit card defaults probably won't be as high as expected. That's Wall street's tatoos!
Posted by Palmoni at 8:23 AM