Source

Instead of the usual Bull & Bear tussle, for a change we have Wolves & Sheep battling it out in a nice little game. For those who have played chess: A Wolf in this game has the same power as the Queen piece of chess.

I thoroughly enjoyed this 1 hour BBC program on Warren Buffet and I highly recommend it.

In this program you will see

• 1)WB in his office in Omaha
• 2)The HQ of Berkshire Hathaway
• 3)Meet Charlie Munger
• 4)Interviews with his children. Daughter says ” In 56 years, I have never seen him drink a glass of water”. He loves Coke.
• 5)See the house where he lives. Gives an excellent answer as to why he has lived there for ages
• 6)Meet his wives
• 7)Learn about the food he likes and dislikes
• 8)How we started investing
• 9)His rules of investment

and much more…

More details on the content and Download links

Streaming links at Youtube Part 1 Part 2

Wet Seal reports Oct same store sales -1.3% vs -7.3% Briefing.com consensus; guides above consensus for Q3 (3.28 ) :

Co issues upside guidance for Q3 (Oct), sees:

• EPS of $0.04 vs. $0.03 First Call consensus;
• Q3 (Oct) revs of $141.5 vs. $138.87 mln consensus

Earnings will be reported on Nov 19.

Source

TIXC to report on Nov 9.

Meanwhile Ashraf Iqbal continues to buy this week.

More on TIXC

DivX upgraded to Buy at Maxim Group; tgt $8.50 (5.20 ) : Maxim Group upgrades DIVX to Buy from Hold and sets target price at $8.50 to reflect limited downside risk, industry data points which suggest better-than-expected 4Q09-1Q10 results, CE manufacturers, particularly TV, becoming more interested in connectivity to stream Internet video and the improving visibility for DIVX’s content distribution.

Link

Things to keep in mind/Caution:
DIVX is another cheap stock. But it lacks catalysts.

iPass has already executed on its commitment to distribute $20 million of capital to stockholders through a special $0.32 per share cash dividend that was paid in September 2009; this second $20 million distribution will be comprised of two parts:

• a special cash dividend of $10 million or $0.16 per share, and
• the launching of a $10 million stock repurchase program.

Dividend details:
The special cash dividend of $10 million or approximately $0.16 per share will be paid in the fourth quarter of 2009; the record date for the special cash dividend is December 4, 2009 and the payment date will be December 18, 2009. The special cash dividend is anticipated to be a return of capital to stockholders in 2009.

Stock repurchase details:
The $10 million stock repurchase program goes into effect on November 15, 2009 and extends through March 31, 2011. Under the terms of the program, iPass may purchase up to $10 million of its common stock through open market, block and/or negotiated trades. Additionally, in the event that the full $10 million has not been used to repurchase the company’s stock by March 31, 2011, the company has committed to dividend to stockholders any remaining balance by April 15, 2011.

Source

IPAS reported earnings last evening. Company lowered guidance:.
“Additionally, we expect a continued, albeit a sequentially smaller decline in dial-up revenue in Q4. Given these factors, we anticipate total revenues for Q4 to be in the range of approximately $39 million to $41 million. So far as our cost, as we move through the fourth quarter, we still see and expect to have some challenges that likely impact our ability to maintain profitability in the quarter”.

Source

An article that discusses 4 tech value stocks. The last line of the following paragraph is very crucial to keep in mind when investing in such stocks.

“For the most part, the easy money is squarely off the table. But there are areas of potential interest – namely those issues trading at or below net cash or significantly below book value. This creates one potential compelling catalyst – that a liquidation or distribution of the cash results in a tidy return to investors. Rule number one when playing in this space: pay very close attention to management. An asset rich company today could be a debt-ridden company tomorrow if management decides to spend that money on value destroying acquisitions”

Things to keep in mind/Caution:

All of the 4 stocks discussed are super cheap and they lack catalysts.

• SIMG: Revenues keep on declining despite rebound in economy. Once profitable, now losing 10m a quarter!
• ZRAN: 400m to 500m in revenues and struggling to make a penny.
• TRID: New entity after merger with NXP/Phillips. Might turn profitable in very late 2010. Merger atleast increases revenues nicely.

The full article can be read here.

Lord Steinberg passes away.

• Details on Lord Steinberg.
• Major share holder in EGMI.
• Roth defends today’s weakness in EGMI.

Electronic Game Card weakness a buying opportunity, says Roth Capital
Roth Capital attributes the weakness in Electronic Game Card shares to reports that the company’s executive Chairman, Lord Steinberg, passed away last night. The firm does not seem meaningful risk from this unfortunate event and would buy the stock on the pullback

Semiconductor sector downgraded to Cautious from Attractive at Morgan Stanley.

Morgan Stanley downgraded the Semiconductor sector based on peaking fundamentals and said the group is “in the final innings of the semi cycle.” The analyst downgraded Altera (ALTR), Intel (INTC), Micron (MU) and Xilinx (XLNX) to Equal Weight from Overweight and cut ARM Holdings (ARMH), Nvidia (NVDA), and On Semiconductor (ONNN) to Underweight from Equal Weight. The firm upgraded Linear Tech (LLTC) and Maxim (MXIM) to Overweight from Equal Weight.

On Semiconductor downgraded to Underweight from Equal Weight at Morgan Stanley.Target to $6 from $9.

Source

Every Monday, Karl Denninger holds an hour long radio show starting from 4.30pm EST. Karl talks about the Capital Markets along with both political and business issues related to them.

Even though I may not agree with all his viewpoints, I find him to be extremely knowledgeable, energetic, patient, willing to explain/teach/answer questions from his listeners. His show is free and today’s and archived shows can be accessed here.

Happy Listening.