Corrections and Clarifications
August 2007
TSC Staff
08/31/07 - 03:25 PM EDT
An Aug. 30 Steve Smith and Gregg Greenberg video on TheStreet.com TV, Go Bearish With Mastercard Options Play, incorrectly said an increase in late payments would negatively affect Mastercard's profits by forcing it to raise its reserve fund. In fact, late payments aren't likely to cause Mastercard to increase reserves, as the company's profit is based primarily on transaction volume. TheStreet.com regrets the error. (Corrected Aug. 31)
An Aug. 22 blog post by Tony Crescenzi titled Reports: Citi Taps Fed for $500 Million should have indicated that Crescenzi was long Citigroup (C) at the time of publication. TheStreet.com regrets the error. (Corrected Aug. 22)
An Aug. 17 story, Friday's Health Winners & Losers, incorrectly reported earnings for Accuray (ARAY). The company said after Thursday's close that revenue rose to $44 million from $21.4 million in the year-ago quarter, but it earned $502,000, or 1 cent a share, compared with a loss of $7.86 million, or 49 cents a share, in the year-ago quarter. TheStreet.com regrets the error. (Corrected Aug. 21)
An Aug. 20 story, Whole Foods Merger Held Up, incorrectly reported the deadline for Whole Foods (WFMI) to respond to the government's request for a stay of the grocer's purchase of Wild Oats (OATS). Whole Foods must file a response by 4 p.m. EDT Wednesday, not noon EDT Thursday. TheStreet.com regrets the error. (Corrected Aug. 20) An Aug. 16 column, Three Stocks Tied to Risky Debt, incorrectly described IndyMac Bancorp (IMB) as a real estate investment trust. Also, while the lender does have some exposure to subprime, as the table in the column shows, IndyMac stopped originating pure subprime loans in the first quarter of 2006. TheStreet.com regrets the errors. (Corrected Aug. 17)
An Aug. 16 story, ResCap Worries Dent GMAC, incorrectly referred to General Motors (GM) as the parent of finance firm GMAC. In fact, GM owns a 49% stake in GMAC and is characterized by the company as a "shareholder/owner." The story also erroneously referred to comments on a conference call as made by GMAC's CEO. In fact, the speaker was ResCap CEO Jim Jones. TheStreet.com regrets the errors. (Corrected Aug. 17)
An Aug. 14 RealMoney Silver blog post by Doug Kass, The Next Shoe Is Dropping, and It Will Leave the Investment Community Flatfooted indicated that Charles Schwab's (SCH) money market funds had bought low-quality debt. Charles Schwab says: "We only purchased the highest quality short-term rated money market instruments that are rated tier 1 by the ratings agencies." TheStreet.com regrets the error. (Corrected Aug. 14)
An Aug. 13 blog post by Steven Smith titled Investors Remember EMC's Upside contained an error. The post should have indicated that EMC planned to offer 10%-15% of its 90% stake in VMWare in an initial public offering this week, not the entire 90% stake. TheStreet.com regrets the error. (Corrected Aug. 13)
An Aug. 10 blog post by Jim Cramer titled Today's Game Plan: What Can -- and Can't -- Happen contained an error. The post should have indicated that at time of publication, Cramer was long Fannie Mae. TheStreet.com regrets the error. (Corrected Aug. 10)
An Aug. 10 column by Roger Nusbaum titled How Broad Is Your Broad-Based ETF? contained an error. The post should have indicated that iShares Russell 1000 Value Fund (IWD) held 34% financial stocks, not 21%. TheStreet.com regrets the error. (Corrected Aug. 10)
An Aug. 8 Columnist Conversation post by Bob Faulkner titled Qualcomm Questions contained an error. It should have indicated that the negative article in question appeared on The Inquirer, a London-based Web site, not The Register. TheStreet.com regrets the error. (Corrected Aug. 8)
A July 31 blog post by Jim Cramer titled Reposition Stocks Into Market Strength contained an error. The post should have indicated that at the time of publication, Cramer was long ConocoPhillips (COP). TheStreet.com regrets the error. (Corrected Aug. 1)