Kind of Ugly

It's looking like the market open will be pretty ugly today.

My call yesterday for the market to sell off after the Fed non-action was off the mark, although a large part of the day's gains were gone by the close.

RIMM and ORCL both reported last night, and both are getting hit as guidance wasn't quite good enough for either. Not that either was bad, just that the stocks have outperformed and expectations were high, especially for RIMM.

BUD's non-statement yesterday is leading the Wall Street Journal and others to speculate that they are going to fight the InBev deal. The following headline: "Anheuser May Reject InBev, Unveil Plan to Spur Profit" seems more than a little perverse to me.

Board Member, "So, should we agree to get acquired?"
Exec at BUD, "No, if the deal goes through they are just going to cut costs and try to increase profits."
Board Member, "Well, the media is all over this. We have to do something."
Exec at BUD, "Let's cut costs and increase profits."
Board Member, "Good idea. Why didn't we do that already?"
Exec, "Shhhhhhhhh."


long BUD