Stocks dive on belief global recession is at hand

All stock markets are down on growing belief that severe global recession is at hand. How low will they go? Could we hit a bottom today? Wall Street is joining world stock markets in a precipitous plunge, with the Dow Jones industrials dropping more than 400 points in the opening minutes of trading. The growing belief that the world will suffer a punishing economic recession has investors furiously dumping stocks. Grim news from overseas has added to the worldwide gloom. Big companies including Sony and Daimler are warning of tough times ahead, joining U.S. companies in scaling back their earnings forecasts. The Dow is down more than 400 points bellow 8,300 level. All the major indexes are down more than 4 percent.

Asian Stocks are declining on Enconomy and earning concerns

Asian stocks fell for a third day after Sony Corporation cut its earnings forecast and South Korea's economic growth slowed, deepening concern a global slowdown is hurting profits. Sony went down 11 percent to its lowest level since 1995 after the world's second-largest maker of consumer electronics cut its annual forecast by more than 50%, citing a stronger yen and worsening outlook. Samsung Electronics Co. was down 3.3% after posting its biggest quarterly profit drop in more than three years. Lotte Shopping Co., South Korea's biggest department-store operator, slumped 7.5 percent after net income missed analyst estimates and the country's economy grew at the slowest pace in four years.

Biggest Price Decliners (CNB, PRSC) Colonial BancGroup

Colonial BancGroup Inc. has been hammered hard today posting a drop of more than 70%. Wow, in one day that is a lot to loose. They top the list of Biggest Percentage Price Decliners among common stocks on the New York Stock Exchange at midday on Thursday. Another bargain? Who knows. They way the market is behaving it could even fall more but if you are a risk taker this could be an opportunity for a quick gain.

Level 3 (LVLT) Shares Collapsing. Down over 40%

Always crazy volatile, Level 3 (LVLT) shares are collapsing today on concerns about the highly leveraged communications company’s prospects in the weakening economy. For Q3, the company posted revenue of $1.07 billion and a loss of 8 cents a share; revs were in line with the Street, and the loss was actually a penny better than expected. For the full year, Level 3 says it now sees adjusted EBITDA of $980 million to $1 billion, narrowing the range from its previous forecast of $950 billion to $1.1 billion. The company said it recently completed several “liability management transactions,” reducing its outstanding debt by $179 million; it also said that it is confident it has enough cash to repay $305 million in debt due in September 2009. Could this mean a great buying opportunity? At this price level? I think you could make a killing or lose some few bucks.

After taking a little dive stocks are in positive territory today.

Too many bargains out ther are pushing Wall Street higher in erratic trading Thursday as investors, while still nervous about growing signs of a weakening economy, picked up all this bargains from stocks that were way oversold from the last two days market collapse. "Its people coming in that see tremendous value, but for a more sustainable advance I think we need more time," said Steven Goldman, chief market strategist at Weeden & Co. in Greenwich, Conn. Wall Street digested a rush of corporate news. Goldman Sachs Group Inc. is preparing to cut about 10 percent of its work force, according to a person briefed on the plan who requested anonymity because the company hadn't publicly disclosed details of the plan. Lets hope the market keeps rising...... Up up up!!!

Stocks taking a dive as investors weigh corporate forecasts

Wall Street is big time down again Wednesday as investors shifted their focus from improving credit markets to worrisome corporate profit forecasts that are raising fears of a deep economic slowdown. This is madness. No peace of good news since to matter. Any small piece of bad news is enough to get the markets in free fall. The major indexes fell more than 2 percent, including the Dow Jones industrial average, which lost about 350 points.

The top 10 Most Searched Stock on theStreet.com

Here is the top 10 stock Most Searched in theStreet.comFirst the video

1. APPLE INC (NasdaqGS: AAPL)

Q4 report great and revenue looking to be over 9 to 10 Billion dollars but some analysis are saying that this numbers are low for Apple. However after hour trading is pushing Apple over $100 per share.

2. GOOGLE (NasdaqGS: GOOG)

Still working with the department of justice over an ad deal with Yahoo. Once again with strong earnings blowing away wall street analyst estimates. However the CEO is saying that the company is watching his spending base on weakest sale of ads.

3. FREEPORT MCMORAN B (NYSE: FCX)

FCX was down today 10% but many analyst are saying this is a great opportunity to buy since this stock pays good dividends and the fundamentals are great.

4. CATERPILLAR INC (NYSE: CAT)

Also down today but still having a great outlook.

5. LINN ENERGY LLC UTS (NasdaqGS: LINE)

A big over 10% gainer today. Fundamentals looking great. The stock had suffered but the company is solid.

6. CHESAPEAKE ENERGY CP (NYSE: CHK)

7. GEN ELECTRIC CO (NYSE: GE)

8. AMER INTL GROUP INC (NYSE: AIG)

9. BK OF AMERICA CP (NYSE: BAC)

Loosing money in its credit card business 10. MERCK CO INC (NYSE: MRK)