Looks like that bitch KIM is off to a bad start this morning.
NEW YORK, Feb 5 (Reuters) – – Kimco Realty Corp KIM.N, owner of strip-malls anchored chiefly by grocery stores, said on Thursday that fourth-quarter funds from operations fell as it took bigger-than-expected charges for falling asset values.
FFO fell to $10.5 million, or 4 cents per share, from $136.2 million, or 53 cents per share, a year earlier. The results missed the analysts’ average forecast of 24 cents per share, according to Reuters Estimates.
FFO, a measure of performance for real estate investment trusts, removes the profit-reducing effect of depreciation, a noncash accounting item, on earnings.
For U.S. shopping centers open more than a year, net operating income, which measures performance on a property level, rose 1.3 percent in the fourth quarter.
Kimco, based on Long Island, New York, said it expected 2009 FFO of $1.70 to $1.90 per share, far short of the $2.23 analysts had forecast, according to Reuters Estimates.
Too bad I am no longer short the bitch directly. However, I do have representation via SRS.
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Zombie loses again and…..The Fly is God
hey fly you still testing WX as a lotto ticket?
im short with the rest of you hopefully we can have a few big down days here soon this choppy shit is getting old though profitable
KIM, I can’t believe this shit. Who the fuck you think you’re talkin’ to KIM? Man, this bitch is tryin to genk me. Yo, I’m gonna slap you upside the head wit nine inches o’ limp dick!!
The market goes up in a big way today, all you bearples will lose money, lot’s of fucking money and I’m going to drive my Vesper over a fucking bridge Thelma and Louise style
Oil teetering on the edge of $40. Next stop $35? That’s the direction I’m betting.
Its just a shame … “shameful”, as our leader would say.
long wx
Are ECB monthly meetings held in an insane asylum?
the European Central Bank kept interest rates unchanged after four reductions since early October as officials gauge the severity of the recession before cutting borrowing costs again.
Policy makers meeting in Frankfurt left the benchmark lending rate at 2 percent, as forecast by all but one of 53 economists in a Bloomberg News survey. The ECB will cut the rate to a record low of 1.5 percent in March, another survey shows.
ECB President Jean-Claude Trichet has signaled a reluctance to follow the U.S. Federal Reserve in lowering rates to close to zero, even as Europe finds itself in the grips of its worst recession since World War II. At the same time, Trichet signaled as recently as Jan. 28 that the slowdown will probably force the ECB to act again next month.
“They really haven’t grasped the severity of the recession,” said Laurent Bilke, an economist at Nomura International Plc in London, who used to work as a forecaster at the ECB. “Rates should be at 0.5 percent. They should have used the room they have much more forcefully.”
The euro dropped to $1.2832 from $1.2869. Trichet holds a press conference at 2:30 p.m. to explain today’s decision. Separately, the Bank of England lowered its key lending rate by half a percentage point to 1 percent, the lowest since the Bank’s creation in 1694.
‘They Are Wrong’
While the ECB has chopped 2.25 percentage points off its benchmark, the most aggressive easing in the bank’s 10-year history, it still has the highest rates among the Group of Seven industrialized nations.
Trichet said last week that the ECB’s next “important” meeting will be in March, suggesting it may resume cutting rates once it has its new quarterly economic projections. That wait-and- see approach is opening the ECB to criticism that it’s not acting fast enough to protect its economy.
“They are wrong, they are doing too little, too late,” Nouriel Roubini, the New York University Professor who predicted the global financial crisis, said in a Bloomberg Television interview yesterday. “They are making the situation worse.”
Europe’s service and manufacturing industries contracted for an eighth month in January and confidence in the economic outlook fell to a record low. Spain’s industrial production plunged by 19.6 percent in December and in Germany, Europe’s largest economy, factory orders extended their worst slump on record.
Don’t rush anything Jean-Claude take your time.
Splain to me, Loosey, why RBS is up 7% this morning?
Is the Queen Mother buying?
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Fly- Under the Cronkite banner you might consider adding “And that’s the way it is.”
That was his (in)famous quote at the end of each broadcast.
KIM strip malls being vacated in NY, left and right.
KIM down, CBL up (trading at like 1.5x FFO right now).
Odd, no?
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Jake:
I’m gonna throw a bowling ball at you today.
Jake, the BofE cut rates this morning to i% so that could be part of it, perhaps.
Cancel the fucking debt. Problem solved. The whole hidden agenda here is to protect the fucking bond holders. It’s a fucking crime.
And what? Give ownership to the bondholders?
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Jake:
It’s too frozen up here to use the coffee can. Any other ideas?
Ah ha ha ha ha ha ha ha ha hoo hoo ha.
Bear raid on the market today.
http://www.youtube.com/watch?v=0OYBEquZ_j0&fmt=6
EGO-maniacs! Fix bayonets!
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Charlie —
Not for nothing, but we’ve all seen your video. Your comix obsession nothwithstanding, it’s not good practice to continue linking the same thing seven thousand times.
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It’s the homies.
Yogi —
Tupperware canister in the loo tank.
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WHY the f*ck i get a new explorer window when i click on the post? it is stupid, go back to displaying in the same window…
Yog — but seriously, I’d watch the dollar first. If gold is any indication, the toilet paper may be worth more soon.
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Now its SMH.
kidstock is a queer.
But Jake, have you seen that version? The quality is outstanding!
I’m gonna throw a bowling ball at you today.
That might make it harder to swim.
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FAS under $8. DONNY how do you like that ? Where is Andy Swan and his ‘Range Rover’ trade ?
BAC to $2
JPM and WFC will follow. Its determined that ALL our banks will go under $5. WFC and JPM still have meat on the bones. Short them at will.
BAC going to drop under $4 . LMAO .
Bye Bye BAC
Did I call this one months ago or what!
On another all my picks I posted in the P Gallery are looking golden
Except for that bitch GS she will break eventually
T MOE is feeling good this morning
COF is next for the bear raid. Credit card defaults were up big that spells danger for COF
“long wx” Awesome…. FIG
seriously… Fly that FXI shit might be your best call ever. I might pull the trigger on that today.
@ Cap
what are your thoughts on USB. I bought it as a hedge to my FAZ position, but am thinking of dumping it. Note that it is outperforming all of the other big banks (WFC, JPM etc)
Moe
I reckon Bac goes first and then takes C with it in the storm.
Bac is in worse shape is my bet.
I just might pick up some EGO, but I know I’ll regret it if I do. I traded that l’il fucker before and it always was gay. EGO is to gold, what ICO is to coal, what LNG is to natty.
GE just shit the money bed
820-819 being defended on the S&P a breakdown below this could spell trouble
Maw’s been moving back and forth in the rocker a bit quicker than usual this morning. Says, GS and BAC have come out swingin’ today but the GS thing’s a bunch of shit. It’s just cause them delirious asses (most of them genes polluted with multi-generation Trust Funds, a bit like the Ozarks but on Wall Street) claim they’re going to return the TARP money. Didn’t explain exactly how, except they’re hoping to do it so as to be able to keep their egregious salaries and bonuses. They haven’t quite figured out how they’re going to compete if nobody else is getting them gigantic bonuses and now that they’re practically an internet bank and their biggest competition is ING. Guess all the other Trust Fund Babies think they know something (like when they knew all about 200 dollar oil even while the credit spreads were getting nasty, about the time MAW said to short USO (and then like an ass, against Maw’s wishes I covered at 50 and couldn’t get the shares back). Maw says Mr. Fly is dead on with commercial real estate blowing up right in their face starting today.
@hedging
I don’t follow USB. Isn’t Buffet a big shareholder ? I wouldn’t touch banks. Any banks.
What’s the temp. in NYC right now…….. everybody up there enjoying it?
Where is Donny?
CNBC or the “RIFT” is now making excuses for the DOW….. I have heard it all now, those asshats are now trying again, to paint a rosy picture that “even if all the financials were to be remover from the DOW it would only equal one IBM, is that so bad”
well fuck yeh it’s bad you RIFT asshats, what the fuck do these overpaid asshats at CNBC think is the engine that “finances” all the “other” DOW components?
So Fly, pay attention to CNBC, now the new fuckery from them over the next week will be trying to uplift people by lying about “the DOW won’t be all that bad if C, BAC, AXP, JPM were removed and replaced with 4 other companies”…….
well duh, you stupid asshats at CNBC, on a numbers game on paper no, but on a “FUCKING REALITY” basis (which no one at the RIFT lives in), if the 4 were removed the entire DOW would slowly collapse.
Anyone else like PNRA as a short? There is no way that puppy makes estimates at forecasted 34% growth in earnings next year…no way!
Done for the AM.
Thanks homies,SMH.
Off to inspect the citrus trees.
@ Cap
Yes, Buffet is a big SH in USB, but he also owns WFC, which is shitting the bed, which I suspect is due to its exposure from the Wachovia deal.
@Artist – It’s price weighted… 4 point plunge in IBM would be equal to BAC @ 0. I think that was more likely the point. It works(ed) to your favor in going short from lofty levels in the iDETF’s, not so much now.
Prof — don’t be silly. GS doesn’t employ trust fund babies, it creates trust fund establishers, and then cossets their friends.
GS hires very smart people, period.
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