Skip to main content

May 10-16

<I>TSC</I> corrects its mistakes for the week.
  • Author:
  • Publish date:

The May 14 Fixed-Income Forum,

Finally, We Have the Maturity to Explain Duration, was incorrect on two points. First, in describing the buckets-on-a-plank analogy for a 10-year, 6% coupon bond discussed in a 1985

Salomon Brothers

paper, the final bucket would represent a payment of $1,030, not $130. Second, it incorrectly described the effect of changes in yield on duration. Rising yields cause duration to shorten; falling yields cause it to lengthen. (

corrected May 14


The May 13 Evening Update,

Nordstrom Sags After Hours on Lower Sales, but Posts On-Target Earnings, incorrectly reported that



reported first-quarter earnings of 24 cents a share, in line with the

First Call

estimate. The company's operating earnings included a 2-cent nonrecurring item, meaning Nordstrom missed estimates by 2 cents a share. (

corrected May 14


A May 13 story,

All-Tech, On-Site Set To Go to the IPO Well, incorrectly reported that

On-Site Trading

doesn't carry positions overnight. In fact, the firm does allow its traders to hold positions overnight. (

corrected May 13


The May 12 Evening Update,

RJR Nabisco Sets Terms of Tobacco Spinoff, mistakenly reported that

Star Telecomm's


operating first-quarter earnings of 2 cents a share were above the year-ago 3 cents. The earnings were below the year-ago number. (

corrected May 13


The May 12

SiliconStreet column erroneously stated that analyst Henry Blodget had said last year that

(AMZN) - Get Free Report

would rise to 67. Blodget actually had called for the stock to rise to 400, or a split-adjusted price of 133. (

corrected May 12


A May 10 story,

Dysfunction 101: The Fate of Zonagen's Impotence Pill, misidentified

CIBC World Markets



, its previous name. The story also mistakenly said the firm had done banking for



. (

corrected May 11