Bearish on Oil & Lehman 3rd Quarter Earning Worries

Posted by Kris | Tuesday, August 19, 2008 | | 0 comments »

Oil drops below $112 as storm threat easesTuesday August 19, 4:49 am ET By Eileen Ng, Associated Press Writer

Oil prices drop below $112 a barrel as supply concerns over Tropical Storm Fay ease
KUALA LUMPUR, Malaysia (AP) -- Oil prices dropped below $112 a barrel Tuesday in Asia, extending an overnight decline as Tropical Storm Fay avoided oil-producing infrastructure in the Gulf of Mexico.
Analysts also said oil pricing is likely to remain suppressed amid concerns that a global economic slowdown may further dampen world oil demand. But intermittent supply concerns due to the hurricane season and ongoing conflicts such as that between Russia and Georgia are likely to halt any sharp slide in pricing.

Lehman shares edge lower on 3rd-quarter worries
Tuesday August 19, 5:05 am ET
Lehman Brothers shares edge lower as Wall Street considers potential 3rd-quarter losses
NEW YORK (AP) -- Shares of Lehman Brothers Holdings Inc. edged lower Monday amid worries the company may face a fiscal third-quarter loss instead of a modest profit that many analysts had expected.
The nation's fourth-largest investment bank continues to struggle with writing down the value of mortgage-backed securities and other risky investments. Lehman could lose up to $1.8 billion, according to The Wall Street Journal. In June, Lehman unexpectedly reported a loss of $2.8 billion -- the first quarterly loss since going public.

Share of Lehman fell $1.14, or 7.1 percent, to $15.03 Monday. The stock has plunged 42 percent since June, and is down 82 percent from its 52-week high set last year.

Future "fear" has been factored in. With the declining oil prices, something else have to go up for awhile at least .. DowJones stocks & USD !!

Alot of KLCI retailer have been sitting at the sidelines. Proof : no more "active/gossip/tips" chats in local stock blogs and shrinking daily KLCI volume. Flaming still exists and well alive though.