Alcoa Cuts 13% of Workforce; Best Buy to Sell Used iPhones; Jobs’ Statement Earns Apple Upgrade; India Exports Slowing Dramatically; Europe Inflation at 2-Year Low; U.S. Still Innovation Leader; Belarus to Secure IMF Aid

Alcoa Inc. (AA) said late yesterday (Tuesday) that it will cut 13% of its global workforce. The company will also sell four business units, cut output, freeze salaries and hiring efforts, MarketWatch reported. The measures will result in a fourth-quarter charge of $900 million to $950 million after tax, or $1.13 to $1.19 a share. Electronics retail Best Buy Co. (BBY) said it will sell used Apple Inc’s (AAPL) iPhone 3G -returned 30 days of ...

Another week and another batch of fascinating video clips about bailouts, economic woes and other crisis-related matters. As to be expected, the good-news videos are in rather short supply. A number of the more interesting clips that have attracted my attention are shared below.

Some of my favourites included in this compilation are: “Peter Schiff uses analogies to describe crisis” (first one up) and “Dr Doom [Marc Faber] - Buffett’s approach to investing is dead” (further down). If you want to view only two of these clips, make sure to see these two.

Please post any interesting video links that you would like to share with the Investment Postcards community, in the comments section.

YouTube: Peter Schiff uses analogies to describe crisis “Ron

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A batch of interesting video clips about the election of Barack Obama and the unfolding financial crisis has appeared over the past few days as all and sundry are attempting to make sense of a rather murky picture. A number of clips that have attracted my attention are shared below.

Firstly, back to basics with a rudimentary explanation by Enspire of how the mortgage crisis came about. (Click here in case you missed Enspire’s previous video, “Understanding the financial crisis”.)

Enspire Learning: The mortgage banking meltdown

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This post is a guest contribution by Niels Jensen*, chief executive partner of London-based Absolute Return Partners.

It is time to move on. Not that the crisis is over, by no stretch of the imagination. But it is not going to make one iota of difference if I join the blame game bandwagon. It is what it is. Allow me instead to focus my energy on what is likely to happen next. That is more productive and definitely more useful.

A can of worms We are dealing with a rather large can of worms. The lid is off and the worms are all over the place. Let’s focus on what these worms might be up to. For all the

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S&P ANALYSTS STOCK PICKS

S&P Analysts Michael Souers rates HOME DEPOT a BUY:

a. cost control is impressive.

b. sales benefited from the fiscal stimulus tax rebates.

c. expect continued weakness in housing along with overall consumer malaise.

d. $34 target price.

track Michael’s picks at:

http://trackthepros.com/categories.php?category_id=1019

S&P Analyst Philip Seligman rates WELLCARE HEALTH PLANS a STRONG SELL:

a. company agrees to pay $35.2 million to the U.S. Attorney, with $24.5 million its estimate of the behavioral health capitation refunds it owes Florida Medicaid for 2002-2006, and $10.7 million to be held in escrow for other claims.

b. long-term Medicare Advantage growth prospects limited.

c.$23 target price.

Track Philip’s picks at:

http://trackthepros.com/categories.php?category_id=693

I-Banking ANALYSTS STOCK PICKS

OPPENHEIMER Analyst Carl McDonald rates WELLCARE HEALTH PLANS a Strong Buy:

a. poised to move significantly higher today after the company reached an agreement with the U.S. Attorney Office for the Middle District of Florida and the Florida Attorney General’s Medicaid Fraud Control Unit to pay

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NVIDIA CORP. (”NVDA”)

Oppenheimer analyst Rick Schafer rates Nvidia a BUY:

Analyst says the next couple of quarters are likely to be tough, but thinks that is well understood. He believes the company’s near-term issues are not chronic, and would continue to be buyers in a still solid long-term story. He still sees Nvidia’s programmable single-chip solution as likely long-term winner, relegating rival ATI two-chip technology to the lower end of the market. Schafer views raised buyback amount as positive for shares. He trimmed his 85 cents calendar 2008 EPS estimate to 77 cents, and his $1.10 calendar 2009 forecast to $1.00. The analyst sees Nvidia as a compelling risk/reward play for fundamental investors heading into 2009. Schafer says the shares trade at a steep discount to historical averages and peers’ P/Es. He reiterates his $18 target price.

Track his picks at:

http://trackthepros.com/categories.php?category_id=1491

APPLIED MATERIALS, INC. (

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1. Oppenheimer analyst Rick Schafer rates Nvidia a BUY:

Analyst says the next couple of quarters are likely to be tough, but thinks that is well understood. The company’s near-term issues are not chronic, and would continue to be buyers in a still solid long-term story. He still sees Nvidia’s programmable single-chip solution as likely long-term winner, relegating rival ATI two-chip technology to the lower end of the market. Schafer views raised buyback amount as positive for shares.  The analyst sees Nvidia as a compelling risk/reward play for fundamental investors heading into 2009. Schafer says the shares trade at a steep discount to historical averages and peers’ P/Es. He reiterates his $18 target price.

Track his picks at:

http://trackthepros.com/categories.php?category_id=1491

2. Citigroup  Analyst Rates Tween Brands a SELL:

Citigroup analyst Kimberly Greenberger says the company’s plan for a full conversion from Limited Too stores to Justice could be an overreaction to the second-quarter

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