|
| Today | ||
| 03:56 PM |
|
Justin Bieber Has Dedicated Servers At Twitter
 In one of the weirder signs of the times, a tweet from a Twitter employee has said that pop music star Justin Bieber has his own dedicated servers at the company. According to this article from Gizmodo, Bieber is almost always a perennial trending topic for the microblogging social media site, and uses approximately 3% of Twitter resources at any moment. The site has approximately 180 million users, and aggregates millions of tweets each day. Bieber is the new reason for the fail whale. Thanks Justin, just what I needed to know. |
| 03:54 PM |
|
SYNNEX Corporation to Announce Fiscal Third Quarter Results (SNX)
SYNNEX Corporation (NYSE: SNX) will announce third quarter results for the fiscal period ended August 31, 2010, after market close on Wednesday, September 29, 2010. A conference call will be held to discuss the results at 2:00 p.m. PT and will be hosted by Kevin Murai, President and Chief Executive Officer; Dennis Polk, Chief Operating Officer; Thomas Alsborg, Chief Financial Officer; and Chris Caldwell, Senior Vice President and General Manager, Global Business Services. |
| 03:52 PM |
|
Bears Tuning Into CBS Corp. (CBS)
Shares of CBS Corp. (NYSE: CBS) are lower on the session by 3.22%, currently trading at $14.74. The stock has been moving largely sideways for the past six months with support near $13.50 and resistance near $15.00. Options traders are buying protection on the name today. The October $14.00 put was purchased 2,500 times, on the offer, a short while ago; there is no open interest on the strike. Put volume is now running at 3.52x the daily average. CBS Corporation is a mass media company with operations in Entertainment, Cable Networks, Publishing, Local Broadcasting and Outdoor segments. The Entertainment segment consists of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Films and CBS Interactive. For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator. |
| 03:52 PM |
|
Greenlight Capital Owns Ensco; Should You? (ESV)
Noted value investor and hedge fund manager David Einhorn disclosed a new position in offshore drilling contractor Ensco PLC (NYSE: ESV) in his most recent 13-F filing. Einhorn's investment vehicle, Greenlight Capital, owned nearly 7.5 million ESV shares worth around $291 million as of June 30, 2010. It is not too difficult to discern what may have drawn Einhorn to take interest in this stock. ESV was beaten up along with the rest of the drilling sector in the wake of the BP oil disaster. The shares have bounced back since hitting a 52-week low of $33.33 in early June, but still trade at a fairly cheap valuation. The stock trades at a trailing P/E of 9.13, a forward P/E of 10.13, and a PEG ratio of 1.45. Ensco (ESV) also offers an attractive 3.24% dividend yield. |
| 03:51 PM |
|
Looking for Stocks to Trade in September? … Just add Water
September 7 2010 (Investorideas.com water stocks newswire) Investorideas.com and its leading water investor portal www.Water-Stocks.com update the global water stocks directory for September 2010. The directory now features over 300 publicly traded water companies. Investors can also track trends in water with Investorideas.com columns, Hydrocommerce Corner - Where Water & Money Meet and BlueTech Tracker. Regular content has also included interviews with some of the leading experts in the water sector. As global issues in water from drought to pollution to infrastructure needs, increase, Investorideas.com will be officially launching its new water newswire (www.waternewswire.com ) to increase its coverage in the sector. Investorideas.com and its water portal are posturing to be a leader in the water space for water stocks research. The new water news feed Water Stocks News at Investorideas.com and the global water stocks directory are two of the top tools available in addition to industry commentary and interviews. Directory Preview: Featured Water Stock: 3M Co. (NYSE: MMM) 3M Water Filtration Products lower up-front & operating costs and help protect against the effects of scale & sediment for longer equipment life. Recipe Quality Water™ for the foodservice industry. A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M's core strength is applying its more than 40 distinct technology platforms – often in combination – to a wide array of customer needs. With $25 billion in sales, 3M employs 76,000 people worldwide and has operations in more than 60 countries. Investors following the water sector can subscribe to the news feed at http://www.investorideas.com/RSS/feeds/Water-Stocks.xml. Water companies can submit news and press releases online to be included in the new syndicated water stocks feed at http://www.investorideas.com/News-Upload/ About our water investor portal: About us Become an Investor Ideas member and access our water stocks directory and all cleantech stock directories. Learn more http://www.investorideas.com/membership/ Disclosure/disclaimer -Wescorp (OTCBB: WSCE is a paid advertising showcase stock by a third party; 2500 per month plus 100, 00 stock options at .25) Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured showcase companies MSEX, news submissions and online advertising. Compensation Disclosure and disclaimers: www.InvestorIdeas.com/About/Disclaimer.asp, http://www.investorideas.com/About/News/Clientspecifics.asp For More Information Contact: Source: Water-Stocks.com, Investorideas.com |
| 03:51 PM |
|
Looking for Stocks to Trade in September? … Just add Water
September 7 2010 (Investorideas.com water stocks newswire) Investorideas.com and its leading water investor portal www.Water-Stocks.com update the global water stocks directory for September 2010. The directory now features over 300 publicly traded water companies. Investors can also track trends in water with Investorideas.com columns, Hydrocommerce Corner - Where Water & Money Meet and BlueTech Tracker. Regular content has also included interviews with some of the leading experts in the water sector. As global issues in water from drought to pollution to infrastructure needs, increase, Investorideas.com will be officially launching its new water newswire (www.waternewswire.com ) to increase its coverage in the sector. Investorideas.com and its water portal are posturing to be a leader in the water space for water stocks research. The new water news feed Water Stocks News at Investorideas.com and the global water stocks directory are two of the top tools available in addition to industry commentary and interviews. Directory Preview: Featured Water Stock: 3M Co. (NYSE: MMM) 3M Water Filtration Products lower up-front & operating costs and help protect against the effects of scale & sediment for longer equipment life. Recipe Quality Water™ for the foodservice industry. A recognized leader in research and development, 3M produces thousands of innovative products for dozens of diverse markets. 3M's core strength is applying its more than 40 distinct technology platforms – often in combination – to a wide array of customer needs. With $25 billion in sales, 3M employs 76,000 people worldwide and has operations in more than 60 countries. Investors following the water sector can subscribe to the news feed at http://www.investorideas.com/RSS/feeds/Water-Stocks.xml. Water companies can submit news and press releases online to be included in the new syndicated water stocks feed at http://www.investorideas.com/News-Upload/ About our water investor portal: About us Become an Investor Ideas member and access our water stocks directory and all cleantech stock directories. Learn more http://www.investorideas.com/membership/ Disclosure/disclaimer -Wescorp (OTCBB: WSCE is a paid advertising showcase stock by a third party; 2500 per month plus 100, 00 stock options at .25) Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured showcase companies MSEX, news submissions and online advertising. Compensation Disclosure and disclaimers: www.InvestorIdeas.com/About/Disclaimer.asp, http://www.investorideas.com/About/News/Clientspecifics.asp For More Information Contact: Source: Water-Stocks.com, Investorideas.com |
| 03:48 PM |
|
Options Traders Rolling the Dice With Las Vegas Sands (LVS)
Shares of Las Vegas Sands Corp. (NYSE: LVS) are higher on the session by 1.10%, currently trading at $31.33. The stock has been moving largely higher over the past nine months, breaking above key resistance at $30.47 a short while ago. Options traders are continuing to buy upside on the name today. Currently, 44,000 calls have trade versus 22,000 puts. Notably, the March 2011 $40.00 call was purchased 10,000 times, on the offer, a short while ago. Open interest on the strike is only 928 contracts, indicating new positioning on the strike. Implied volatility is moving higher as well, indicating that options traders are willing to pay up for their positions in LVS. Las Vegas Sands Corp. owns and operates The Venetian Resort Hotel Casino, The Palazzo Resort Hotel Casino and The Sands Expo and Convention Center in Las Vegas, Nevada, and the Sands Macao, The Venetian Macao Resort Hotel, the Four Seasons Hotel Macao, Cotai Strip and the Plaza Casino (together with the Four Seasons Hotel Macao, the Four Seasons Macao) in the Macau Special Administrative Region of the People's Republic of China. |
| 03:46 PM |
|
Mark Hurd Joins Oracle
Former HP CEO Mark Hurd joined database manager Oracle (ORCL) today. Hurd will be the co-president of the tech giant. There will be rumors and chatter that Ellison is looking to step aside at Oracle. I doubt that a man of Ellison’s competitiveness and ego would step aside anytime soon. The move is a stroke of genius for Oracle CEO Larry Ellison. Hurd brings years of experience in the tech sector to Oracle and can help Oracle with its most recent underperforming acquisition.
Sun Microsystems is a smaller player but is a direct competitor to HP. Oracle bought Sun Microsystems for $7.4 billion dollars earlier in the year. Sun Micro sells computer hardware, software, and information technology services. It will be interesting to see what Hurd can do with Sun Micro. I am surprised that Hewlett-Packard did not place a non-compete clause in Hurd’s contract. Most technology companies make executives signs contracts agreeing not to compete in the same industry for a number of years. A freshly fired Hurd may have access to sensitive HP information that has helped make HP the number one seller of computers in the United States.
|
| 03:42 PM |
|
24/7 Wall St.'s Corporate Power Rankings: Week 34
The 24/7 Wall Street Corporate Power Rankings of the 32 most important companies in America are determined by earnings, analyst rankings, important corporate news, trends in each firm’s industry, product introductions, management strength and change, and credible rumors. It is, in effect, a new version of the DJIA. Apple (NASDAQ: AAPL) jumped up the rankings to No.1 on the strength of its new product launches. AT&T (NYSE: T) made a big move as it appears that the 4G efforts of rival Sprint-Nextel (NYSE: S) have begun to falter. And J&J (NYSE: JNJ) stayed at the bottom of the list as it recalled hip joint replacements. To read the rest, head over to 247WallSt.com |
| 03:38 PM |
|
Charlie Gasparino Reporting That Vikram Pandit Is Hosting A Lunch With Large Citi Investors Today (C)
Fox Business Network's Charlie Gasparino is reporting that Citigroup (NYSE: C) chief Vikram Pandit is holding a lunch meeting today with major institutional investors in Citi. The meeting was apparently put together by Sanford C. Bernstein banking analyst John McDonald. The meeting will include around two dozen institutional clients of Bernstein. Citi's management has recently been at odds with CLSA analyst Mike Mayo with regard to the bank's accounting for tax credits known as "deferred tax assets," or DTA's. Gasparino has been reporting on this issue for some time, and it apparently some investors are beginning to get a little spooked. According to Gasparino, Pandit and CFO John Gerspach are expected to be asked many of the same questions that Mayo has posed. Citi is describing this meeting as "private and routine," but look to Citi's stock price in the coming days for clues about how satisfied the investors were with the answers management provides to their questions. If the perception that untoward accounting practices are taking place at the bank begins to take hold, expect the increased concerns to manifest in the form of a sinking share price. |
| 02:57 PM |
|
Tuesday - Uncle Rupert Throws A Tantrum
By Phil Davis at Phil's Stock World Happy Tuesday to you! Nice market take-down by the Journal this morning, who led off with an article questioning the EU stress tests saying: "From this point of view, it is not surprising that the doubts raised about the validity of the stress tests are weighing on the Euro and also on other risk-correlated currencies." Then, to make sure no one misses the article, they run another headline for the US markets that says "Concerns Over EU Banks Hit Euro" in which they quote themselves: New concerns about the ability of European banks to weather the financial crisis came after the WSJ story highlighted once again the weaknesses of the stress tests. The report helped to widen the bond spreads on peripheral debtors and knocked European stock markets lower as another wave of euro zone jitters hit the market. If this seems like BS manipulation to you, you will be doubly insulted to know that the US isn't even the target of the manipulation. Mr. Murdoch, an Aussie and long-time foe of the Euro, is simply expressing his displeasure in a Labor Party victory in the Australian elections this weekend (real Democracy's hold elections on weekends to encourage voting) and is knocking down their dollar by simultaneously boosting both the dollar and the Yen (also in the article is news that the BOJ will not intervene in the Yen, which is total BS) to push down his native currency and make a post-election statement. Just a media giant throwing a temper tantrum this morning.
Wow, pretty damning evidence that they couldn't get a comment contrary to their BS on a holiday weekend, right? This news is also conveniently drowning out Obama's proposed 6-year Public Works Program to combat unemployment by committing $50Bn for needed repairs on roads, rails and airport runways - putting some of our nation's unemployed construction workers back to work. Of course, you need to read the NY Times to find this out as the front-page of the Journal makes no mention of it (what do Journal readers care about construction workers?) and their front page this morning is all about (of course) tax breaks!
I always encourage Members to spend at least 25% of their time reading things they totally disagree with. For my Conservative Members, that requirement is easily filled by reading my own posts and commentary and, for our Liberal members (the few, the proud...), we have articles like this weekend's post by Mish, who wrote a huge counterpoint to our featured post by Robert Reich, "The Real Lesson of Labor Day," which was my favorite post of the week. Of course, Mr. Murdoch's hissy fit against his native country is knocking down commodities: Copper is down 3%, oil 2.5% and gold is back below $1,250. Nat gas is back down to $3.85 ($3.75 is still our buy point on the futures). Miners will get whacked in Australia over the mining tax again, which the Conservatives were sure they defeated (kind of like the Conservatives in this country are already doing a victory dance - yet another feature in the WSJ!). This does not change our long-term RTP play as I called a good bottom on them back in the 8/23 morning post (you're welcome!) - RTP jumped 14% in the two weeks since my public pick and the vertical spread is well-hedged and is already up 36%. Before moving on, I must say I love this one: The WSJ's photo essay of "Tea Party Names on the Ballot" - now THAT'S news! Although, I would suggest a more honest alternate title of "Candidates We Fund and Promote Endlessly on Our Television Network." Asia had been flat with the Nikkei down 0.8% on Yen strength this morning and Europe was opening up but dropped fast and is now down 1% as Mr. Murdoch stirs the pot (he controls the British press as well, including the EU's main satellite network) despite the fact that the Economist reported this weekend that the IMF concluded in not one, but TWO papers this weekend "that there is too much pessimism about public finances."
Also this weekend, BGN points out that According to figures to be published by the Bank for International Settlements, foreign bank loans and other commitments to Portugal, the Republic of Ireland, Greece and Spain, which are the so-called Pigs, rose by 4.3% or $109bn, in January-March. This is actually a positive report that shows faith in the system but it's the same data the WSJ spun into a doom and gloom scenario - isn't spin fun? Also hard to find in the Journal this weekend is Bloomberg's feature of IMF's #2 man, John Lipsky saying that, after a G20 meeting, deputies showed confidence about the global economic recovery, even taking into account challenges and risks. “They’re mainly confident that there’s a moderate recovery under way globally,” Lipsky said yesterday after a G-20 deputies’ meeting in the South Korean city of Gwangju. There are “obviously risks and challenges but things seem to be moving more or less in the line with our forecasts.” You see, "we report, you decide" only works if the reports include ALL the facts, right? On the DOOM side if the table, we can always count on the boys at PimpCo to have something dreary to say to start off the week. Today it's Andy Bosomworth, who says, very simply: "Greece is insolvent," as if that's some new discovery that he MUST release at the EU open. “I see it as being quite a substantial risk that Greece eventually defaults or restructures. If the interest rates of other southern European countries stay where they are, they are going to have some problems as well,” Bosomworth said. “You have the contagion risk and until we know precisely how this contagion risk will be contained, it is a pretty risky strategy staying in the other countries as well.” Of course the bond pimps must protect their interests at all costs - TBT had rocketed up to $33.50 on Friday night, indicating a potential drop in TLT that would have cost PimpCo Billions, if left unchecked, so they bang the fear drums once again...
The summer driving season, when consumption peaks, ends today with the U.S. Labor Day holiday. Net-short positions have climbed to the highest level since records began in 2006 amid a drop in trading. The increase in short positions “is just a realization that gasoline supplies are substantially above a five-year average,” said Phil Flynn, vice president of research at PFGBest in Chicago. “Instead of clamoring to build new refinery capacity, we’re looking for new places to sell gasoline.” According to Lloyd's list, however, the number of tankers storing crude has fallen to the lowest level in 18 months - down to 58 tankers from 149 last November. It is very strange to see all this dumping ahead of hurricane season so it seems like the betting is very heavy that oil and gas prices will collapse - which makes the other side of the trade very interesting...
The BIS calculations allow for an interesting thought experiment. As of 2006, average wages in finance were about 72% higher than in other professions – largely due to the massive salaries and bonuses commanded by executives, traders and others at the top end of the salary range. If that gap were erased (it didn’t exist 30 years ago), the average bank could reduce its operating costs by about 19% — enough to raise capital ratios to almost the optimal level with zero increase in interest rates. In other action today: The government will roll out a new mortgage aid program on Tuesday, this timetargeting underwater homeowners who are current on their mortgage payments but at risk of default. Officials say up to 1.5M loans could be modified, but skeptics think the plan is likely to be as ineffective as past efforts. Also, I wouldn't want to call Mr. Murdoch a liar or to insinuate that he makes things up to mislead investors to support positions he already holds but the BOJ's Finance Minister Yoshihiko Noda pretty much said the opposite of everything the WSJ had to say as he signaled that any sales of the nation’s currency would have to be unilateral. “This is about what options we have on the assumption coordination would be difficult,” Noda said on a TV Tokyo program today. “Our statements on taking ‘bold action when necessary’ cover everything.” Ichiro Ozawa, former deputy leader of the DPJ and Kan’s opponent in party contest, said this week he would take “every measure,” INCLUDING INTERVENTION, to keep the yen from rising. Kan said last week the government is “ready when necessary to take bold measures” in the currency market. Gosh, Uncle Rupert sure is an insightful fellow to be able to dig into those comments and come up with: "the BOJ will not intervene in the Yen," isn't he? We shouldn't take the market moves too seriously this morning as long as our levels hold and, of course, let's watch the volume - we had NONE last week so the whole thing could topple like a house of cards but, if we have only a minor sell-off on strong volume - that will be a positive sign, not a negative one. We're still watching the same levels and using the 3 of 5 rule to guide our short-term trading so not too bullish until )(if) we pop the Dow AND the Nas, who were close but no cigar on Friday:
We'd like to see the S&P and the NYSE hold the line this morning but they only had about 0.5% wiggle room from Friday's close. The RUT needs to hold 635, which is 1% down for them and, if they don't, then the S&P is a good short candidate. We are using SDS as a cover play below S&P 1,000 as it gives you a lot of bang for the buck, especially in the October contracts. It's a short but interesting week and we get our Beige Book tomorrow at 2pm (see my notes on the last one) and that should give us a great idea of how the economy is shaping up right through the end of August.
|
| 02:57 PM |
|
Erin Burnett Gets Pissed At Michael Pento On CNBC
An interesting exchange just took place on CNBC's Street Signs between superstar anchor Erin Burnett and Euro Pacific Capital's Chief Economist Michael Pento. Burnett took offense in a debate over the Treasury market when Pento said the onus was on her to explain why foreign investors would continue to pour money into U.S. debt at such low interest rates. Burnett responded that she is the moderator and, as such, the onus was certainly not on her. Pento is predicting rampant inflation as a result of quantitative easing and a crash of the U.S. Treasury market as the country's debt burden becomes more than it can withstand. He is a frequent contributor on CNBC, but after today's exchange, that may change as Burnett was clearly not pleased with him. |
| 02:55 PM |
|
No Rest And Relaxation For This Chinese Hotel Stock (HTHT)
 Shares of China Lodging Group, Limited (NASDAQ: HTHT) are gaining today, on strong volume, and investors may want to look at this newly minted IPO. China Lodging Group, Limited, through its subsidiaries, owns and operates a chain of hotels in the People?s Republic of China. It operates HanTing Express Hotel that targets knowledge workers and value-conscious travelers. The company came to public markets back in March 2010, and has been on the one strongest performing shares since its inception. It came to markets at $13.50 a share, and has steadily risen ever since then. China Lodging is seeking to cash in on the tremendous growth in the Chinese economy, as well as the growing demand for business and leisure travel within the country. This is definitely a growth story, as shares are priced at 42 times forward earnings. One misstep by the company could send shares down sharply. Having said that, I still believe in this growth story, particularly when you look at its competitors like Home Inns & Hotels Management Inc. (NASDAQ: HMIN). HMIN is a little cheaper on an earnings basis, trading for 29 times forward earnings. Traders seem to be betting that HTHT can outgrow its rival and is deserving of a higher multiple. Shares of China Lodging Group are up 3.5% today, to trade at $24.65. |
| 02:49 PM |
|
New Survey Reveals Consumers Will Quickly Abandon Slow Websites (CPWR)
Gomez, the web performance division of Compuware Corporation (Nasdaq: CPWR), today published the findings of a survey that shows a significant portion of U.S. consumers will quickly abandon websites that perform slowly. With nearly a third of consumers stating they would start abandoning slow sites between one and five seconds, the survey findings offer an end-user perspective of the potential impact of Net Neutrality regulations and the importance of speed for all web businesses. |
| 02:48 PM |
|
Travelzoo CEO to Present at G7
Travelzoo (NASDAQ: TZOO) announced today that Chris Loughlin, chief executive officer, and Wayne Lee, chief financial officer, will a present at ThinkEquity’s 7th Annual Growth Conference. The presentation will take place on Thursday, September 16, 2010, at 11 a.m. Eastern Standard Time at The Sofitel in New York City. Travelzoo Inc. is a global Internet media company. With 21 million subscribers in North America, Europe, and Asia Pacific and 23 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel and entertainment companies. |
| 02:48 PM |
|
Avandia Off The Market; GSK Falls
 GlaxoSmithKline plc (NYSE: GSK) shares slipped after UK regulators recommended to take off GSK’s diabetes drug, Avandia, off the UK markets. The regulators expressed concerns over the drug causing an increase in cardiac problems. On September 8, European regulators will be reviewing Avandia and a final decision is anticipated by September 23. GSK’s shares fell 1.12% to $38.85 at 2:11 pm on Tuesday. Read more from Benzinga's Company news. |
| 02:42 PM |
|
Macy's Shares To Drift Back Lower? (M)
Shares of Macy’s Inc. (NYSE: M) are lower on the session by 1.49%, currently trading at $20.56. The stock has been moving largely higher over the past three months, off of a recent low around $17.00. A break above $21.19 would be significantly bullish for the name. The puts are active on the name today. The October $21.00/20.00 put spread was purchased 3,500 times a short while ago. Volume is enough to cover the open interest on the $21.00 put, but not on the $20.00 put. This likely suggests that a long put position was rolled higher so that the trader has increased protection closer to the stock price. Note that the September $20.00 is seeing activity as well today, though most in the form of put sales. Volume is currently totaling 2,146 contracts on open interest of 6,360 contracts. Macy's, Inc. is a retail organization operating retail stores and Internet Websites under two brands that sell a range of merchandise, including men's, women's and children's apparel and accessories, cosmetics, home furnishings and other consumer goods in 45 states, the District of Columbia, Guam and Puerto Rico. |
| 02:37 PM |
|
Adrian Day: Buy Gold, Sell Wheat (GLD, SLV, PPLT, PALL)
Back by popular demand, HardAssetsInvestor refeatures a conversation with Adrian Day, one of the true pioneers of global investing. For years, the London native has run a boutique global(...)Read the rest of Adrian Day: Buy Gold, Sell Wheat (GLD, SLV, PPLT, PALL) Related posts: |
| 02:31 PM |
|
Pegging A Pull Back: Profit In Any Market
After a monstrous three day surge higher late last week, the markets are pulling back today. How does one realize the markets are due for a pullback? How does a swing trader position themselves to profit from it? Simply put, use the technical levels of leading stocks to confirm the oversold market. First, it was obvious to most on Wall Street that the markets may have needed a small pullback after such a rally into the Labor Day holiday weekend. However, it is prudent to always confirm this thought process by analyzing the charts of leading stocks. These leading stocks are Goldman Sachs Group, Inc. (NYSE: GS), JPMorgan Chase & Co. (NYSE: JPM), Exxon Mobil Corporation (NYSE: XOM) and Chevron Corporation (NYSE: CVX). Choosing two of these leaders, let's isolate if their charts gave us a heads up that a pull back may be in order. When looking at the JPMorgan Chase's chart it is an easy spot. Almost like Waldo without anyone else in the picture. Note the chart below shows a clear and simple gap fill after a three bar surge to the upside. Not only is the chart short term extended, but the gap fill will be a major resistance level. see chart:http://www.inthemoneystocks.com/userfiles/image/JPM09_07_10.jpg Next, take a look at the Chevron chart. CVX ran higher into a short term pivot top after a monster move. See the chart below. This pivot top can also be an indicator of a market pullback as Chevron is a market leader. If Chevron pulls back, then the markets should as well. see chart:http://www.inthemoneystocks.com/userfiles/image/CVX09_07_10.jpg Overall, the market was extended but that does not always mean a pull back in imminent. The key is to look closely at leading stocks and see if they are into major resistance levels. If they are, then look for a pullback and profit. Gareth Soloway |
| 02:30 PM |
|
Clorox Could Brighten Up Your Portfolio (CLX)
 There are a number of metrics which investors should look at in evaluating stocks in this precarious market. Investors should look to buy stock in companies that have a quality and defensive business model, a history of creating shareholder value, offer an attractive dividend yield and trade at a reasonable valuation. Clorox (NYSE: CLX) fits these requirements. The company has a very stable and defensive business model. The Clorox Company (CLX) is a manufacturer and marketer of consumer and institutional products. These include its namesake bleach and cleaning products, Armor All and STP auto-care products, Fresh Step and Scoop Away cat litter, Kingsford charcoal, Hidden Valley and K C Masterpiece dressings and sauces, Brita water-filtration systems, Glad bags, wraps and containers, and Burt’s Bees natural personal care products. Second, the company's management has a history of creating value for shareholders. Over the last 52-weeks, the stock has gained 13%. Over the last 5 years, CLX is up more than 15%, and on the 10-year chart the shares have appreciated 85%. These may not be fantastic gains, but they are far superior to what the wider market has provided. CLX offers a very attractive 3.32% dividend yield at current levels. This far exceeds what Treasuries are currently yielding, and barring an unforeseen disaster, the company will likely be able to consistently increase these payments. Clorox's valuation is reasonable, although not cheap. The shares trade at a trailing P/E of 15.62, a forward P/E of 13.33 and a PEG ratio of 1.40. Given the company's high quality and entrenched defensive business model, a case can be made that the current valuation is quite attractive. |
| 01:57 PM |
|
Late Market Roundup
According to an industry trade group, spending on newspaper ads across the US has narrowed for the third consecutive quarter on a year-over-year basis. The spending fell 5.6% in the second quarter. The Newspaper Association of America (NAA) reported that the Total print- and online-ad expenditures have also declined to $6.44 billion, as compared to $6.82 billion in the year-ago period. John Sturm, chief executive of the NAA said, "Despite a highly competitive environment, online-advertising growth rebounded back into double digits, while declines in traditional revenue categories continue to moderate as the general advertising recovery progresses." Gold futures moved up today after heightening investor concerns related to European banks and economic growth. Gold for December delivery reached an intraday high of $1,261.60. It is recently up by $6.6 to $1,257.80 an ounce on the Comex division of the New York Mercantile Exchange (NYMEX). Pradeep Unni, an analyst at Richcomm Global Services in Dubai said, “Gold could advance to a record on concern among investors that some European banks may struggle to raise additional funds." The Treasury Department has sold 3-year notes worth $33 billion at a record low yield of 0.79% for an auction. The bidders have offered to purchase 3.21 times the amount of debt sold, up from an average of 3.10 times for the last 12 months. Direct bidders, including domestic money managers have bought 11.7%. Indirect bidders, comprising foreign central banks have purchased 42.4%, as compared to 40% over the previous 2 months. Yields on 10-year notes moved down about 3.24%. However, the wider bond market stayed up after the auction. Crude oil futures declined along with the broader markets today, after the long holiday weekend. Crude oil for October delivery dropped 2.2% to $72.96 per barrel at the New York Mercantile Exchange (NYMEX). Read more from Benzinga's Markets. |
| 01:56 PM |
|
Benton Advised of Marathon PGM Takeover by Stillwater Mining (SWC)
Benton Resources Corp. announces that Stillwater Mining Company (NYSE: SWC) and Marathon PGM Corp have entered into a definitive agreement whereby Stillwater has agreed to acquire all of the outstanding shares of Marathon. Benton currently owns 1.565 million shares of Marathon PGM Corp and also holds a 2% Net Smelter Return royalty on the Bamoos leases which includes approximately 200 meters of the northern portion of the Marathon PGM deposit. Under the proposed terms, Benton will issue 0.3 of a CCC share for every existing Benton share at the date of record. On completion of the spin out, CCC anticipates a concurrent financing of approximately $4 million to fund an extensive drill campaign in an effort to build a NI 43-101 compliant resource along the mineralized trend. Benton will retain a 1% NSR for the Bermuda property. |
| 01:51 PM |
|
Treasury Department Targets Iranian-Owned Bank in Germany Facilitating Iran's Proliferation Activities
The U.S. Department of the Treasury today designated Europäisch -Iranische Handelsbank (EIH), one of the few remaining European banks actively facilitating business with Iranian banks and handling billions of dollars worth of transactions on their behalf. Today's action was taken pursuant to Executive Order (E.O.) 13382, which blocks the property of designated weapons of mass destruction (WMD) proliferators and their supporters, thereby isolating them from the U.S. financial system. Headquartered in Hamburg, Germany, EIH provides financial services to Bank Mellat, Persia International Bank, the Export Development Bank of Iran and Post Bank of Iran, all previously designated by Treasury pursuant to E.O. 13382 and by the European Union. "EIH has acted as a key financial lifeline for Iran. As one of Iran's few remaining access points to the European financial system, EIH has facilitated a tremendous volume of transactions for Iranian banks previously designated for proliferation," said Under Secretary for Terrorism and Financial Intelligence Stuart Levey. "As international sanctions tighten, Iran will find it increasingly difficult to find banks like EIH that will cooperate with it. Treasury will continue to target any bank, wherever located, that supports Iran's nuclear or missile programs." EIH has facilitated Iran's proliferation activities on a series of occasions. Examples include: In 2009, EIH and Bank Mellat facilitated nearly $350,000 of business between a weapons exporter and a subsidiary of WMD proliferator Iran Electronics Industries (IEI). In 2007, EIH and Bank Mellat facilitated a transaction of more than $250,000 directly between IEI and the same arms exporter. In a six-month period beginning in late 2007, EIH and the Export Development Bank of Iran enabled Iran's missile programs to purchase more than $3 million of material. EIH also engages in the type of deceptive practices that have become the hallmark of Iranian government-controlled financial institutions. In addition to providing financial services to Iranian WMD proliferators described above, EIH actively obscures Iranian involvement in the process. Not only has EIH provided financial services to Bank Mellat, the two banks also share leadership. Ali Divandari has served as EIH Deputy Chairman of the Board and Bank Mellat's Chairman and Managing Director and was designated by Treasury under E.O. 13382 in November 2009 and by the EU in July 2010. Bank Mellat was designated as a supporter of the Atomic Energy Organization of Iran (AEOI) and Novin Energy Company in October 2007. Persia International Bank, a Bank Mellat subsidiary, was also designated in October 2007 for being owned or controlled by Bank Mellat. The AEOI, which reports directly to the Iranian president, is the main Iranian organization for research and development of nuclear technology and manages fissile material production programs. Novin Energy, AEOI's financial conduit, has transferred millions of dollars on behalf of AEOI to entities associated with Iran's nuclear program. Both AEOI and Novin Energy are designated by Treasury under E.O 13382 and by the United Nations Security Council in Resolution 1747. The Export Development Bank of Iran was designated by Treasury in October 2008 pursuant to E.O. 13382 for providing or attempting to provide financial services to the Iranian Ministry of Defense and Armed Forces Logistics (MODAFL), which was previously designated by the Department of State pursuant to E.O. 13382 in October 2007. Treasury designated the Post Bank of Iran pursuant to E.O. 13382 in June 2010 for providing financial services to, and acting on behalf of, Bank Sepah since its designation by Treasury in January 2007 for its support and services to Iran's missile industries and subsequent designation by the United Nations Security Council in March 2007. EIH is the first financial institution designated by Treasury for facilitating Iran's proliferation activities since the Department issued the Iranian Financial Sanctions Regulations on August 16, 2010 to implement the Comprehensive Iran Sanctions Accountability and Divestment Act of 2010. Under these regulations, Treasury may prohibit, or impose strict conditions on, foreign financial institutions' access to the U.S. financial system for facilitating significant transactions or providing significant financial services for a financial institution designated by the U.S. -- such as EIH -- in connection with Iran's WMD proliferation or support for international terrorism. EIH is the 17th financial institution designated by the United State for such activities. The United States has closely consulted with the German government in taking today's action against EIH and is aware that the German government is also taking steps under its national authorities. |
| 01:51 PM |
|
Vague Takeover Chatter Regarding Cephalon (CEPH)
There is some vague chatter on Wall Street today about Cephalon (NASDAQ: CEPH) possibly being the target of a takeover. The suitors that have been mentioned in the past include Pfizer (NYSE: PFE) and in particular Takeda Pharmaceutical. Cephalon (CEPH) is trading well off of its lows for the day, but remains in negative territory. Currently the shares have shed 0.81% and are exchanging hands for $60.28. Even if an offer does not materialize, CEPH looks rather cheap at less than 8 times forward earnings and a PEG ratio of 0.83. |
| 01:50 PM |
|
Morgan Stanley Cuts 10-Year Notes Yield
 Morgan Stanley (NYSE: MS) on Tuesday reduced its yield call yet again for the 10-year note by the end of the year. The move was a result of the surge in the bond market. The company said the 10-year note yield would likely be 3% by the end of the year, as compared to the 3.5% projected in August. The revised outlook compares to a yield of 2.648% in recent trading. In the first quarter, Morgan Stanley had projected the yield at 5.5%. Morgan Stanley said that the downward revision reflects the slowdown in economic growth in the second half of the year. Last month, MS cut its economic growth forecast for the second half of the year to a range of 2% to 2.5%, from the previous projected range of 3% to 3.5%. The yield has been under pressure due to concerns surrounding a slowdown in the pace of recovery in the US economy. The yield touched 2.418% on August 25, hitting the lowest level since January 2009. Read more from Benzinga's Markets. |
| 01:47 PM |
|
American Power Electric Co Shows Acceptable SEET Requirements
On 9/1/10, American Electric Power (NYSE: AEP) filed its Significantly Excess Earnings Test (SEET) requirements as mandated by SB 221. Citi's review of the SEET filing and expert witness commentary indicates a) AEP’s earnings do not exceed reasonable levels at a statistically accepted, industry standard 95% confidence interval for 2009, and b) AEP’s earnings appear reasonable based on a large sampling of companies with arguably similar business and financial risk. The next step is to establish a procedural schedule for AEP; there is no formal timeline, but Citi suspects a final Citi maintains a Buy rating on AEP with a target price of $41. AEP closed Friday at $36.12 |
| 01:43 PM |
|
Downward Revision In Auto Industry Sales
Sales in the auto industry could be slower than was earlier anticipated. Credit Suisse on Tuesday reduced its projection for US light vehicle sales for the year to 11.4 million cars and trucks, from its earlier forecast of 12 million. The brokerage firm said that the downward revision was on account of the slower recovery in the labor market and the continued decline in home prices. The consensus target of Wall Street analysts for sales in the auto industry is 11.7 million vehicles for 2010. Credit Suisse also made a downward revision to its outlook for 2011 and 2012 from 13.5 million to 12.8 million vehicles and from 14.5 million to 13.8 million vehicles, respectively. Analyst Chris Ceraso said that investors should give preference to "defensive names" in the auto parts sector, citing like Johnson Controls (NYSE: JCI) and BorgWarner (NYSE: BWA) as examples. Read more from Benzinga's Markets. |
| 01:42 PM |
|
U.S. Steel Attracts Stock and Options Buyers (X)
Shares of U.S. Steel Corp. (NYSE: X) are shooting higher today on higher than normal volume; currently the stock is higher by 5.02%, trading at $48.30. There has been a plethora of takeover chatter around the name in recent weeks; it appears that after a pullback, traders are once again willing to get long the name. Option trading is running at over 2x the normal volume today, with the calls starkly in favor. So far 60,000 calls have been traded versus only 20,000 puts. Much of the volume has been purchases on both sides, meaning that traders are buying upside calls, as well as near-the-money puts. The market is interpreting this as a bullish sign for X, though the stock need to break above $50.59 to signify that it is going significantly higher. Support is at the 50-day moving average, around $45.00 United States Steel Corporation is an integrated steel producer of flat-rolled and tubular products with production operations in North America and Europe. The company has an annual raw steel production capability of 31.7 million net tons (24.3 million tons in North America and 7.4 million tons in Europe). For more great research like this, as well as how to play it through options…please visit Benzinga’s Options & Volatility Edge and Benzinga’s Cash Generator. |
| 01:40 PM |
|
SEC Probe into 'Flash Crash' Due This Month; Quote Stuffing Eyed
Securities and Exchange Commission Chairman Mary Schapiro said on Tuesday that a report on the mysterious May 6 "flash crash" will be done by the end of September. "Toward the end of the month. That's our goal," Shapiro told Reuters on the sidelines of the Economic Club of New York luncheon. U.S. regulators are also investigating a practice known as "quote stuffing," where large numbers of stock orders are placed and then cancelled immediately. "The SEC and other regulators are looking carefully at certain practices in this area to assess whether they violate existing rules against fraudulent or other improper behavior," Schapiro said. While quote stuffing doesn't appear to be the cause of the May 6 market drop, the SEC isn't taking chances. A Reuters report notes that "Regardless, the SEC has introduced a pilot "circuit breaker" program that pauses trading in a single stock if that stock is in free fall. Schapiro said the circuit breaker program -- which stops trading for 5 minutes if a stock falls more than 10 percent in 5 minutes -- can be improved." "Currently, the circuit breakers can be triggered by anomalous trades that may not warrant pausing all trading in the stock for 5 minutes," Schapiro said in her prepared remarks. |
| 01:36 PM |
|
Consumers Prefer uWand for Connected TV Control
New Strategy Analytics consumer research has found that adopters and intending adopters of connected TV services are looking for controllers that are simple, yet capable of controlling multiple devices and executing complex use cases. At the same time, they want controllers that are small, stylish and comfortable to use. They consider the most important characteristics of a connected TV’s remote control to be simplicity, comfort, the ability to control multiple devices and universal control capabilities, i.e. one item to replace all of their other controllers. uWand was considered appropriate in its ability to meet these demands by substantially more respondents than other technologies like Touchscreen remotes, Gyro controllers and Deviceless Gesture Control. |
| More News From Benzinga - The Trading Idea Network | ||
![[EUSTRESS]](http://sg.wsj.net/public/resources/images/P1-AX101A_EUSTR_NS_20100906180015.gif)
Think about the "nature" of this story. There is nothing NEW in this NEWs, is there? It's the kind of article that could be written any time someone wants to push the markets. Even the data they are using is from back on 3/31 - they didn't even bother to update their facts for Q2! Notice that the article is pure worst-case speculation by the WSJ, followed by comments like:
Does it bother you at all that your knowledge of what's going on in the World depends on which paper you decide to read? How about the fact that they not only omit news that doesn't fit their agenda, but the articles themselves are then slanted to favor one point of view over the other? 
The IMF argues that despite historically high debt-to-GDP ratios, many countries still have room for fiscal maneuver. Typically, the debate on the point at which a country’s debt burden spirals out of control has tried to identify a single debt-to-GDP threshold, above which things are no longer sustainable. The fund’s economists argue that a universal debt limit does not make sense.
Another negative indicator is a report that 
Contrary to the idea that banking regulation will kill growth, the Bank for International Settlements estimates tougher rules could actually bring Nasdaq quotes delayed at least 15 minutes.
All other data is delayed at least 20 minutes.
By accessing this page, you agree to the following terms and conditions.
Real Time Stock News provided by MarketMinute.com
Stock Analysis provided by SocialPicks Conference calls info supplied by OpenCompany
Fundamental data supplied by Mergent, Inc.
Stock quote data supplied by Telekurs
Bots go here