May 10-16
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
Nordstrom
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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
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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
Amazon.com
(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
as
Oppenheimer
, its previous name. The story also mistakenly said the firm had done banking for
Zonagen
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. (
corrected May 11
)