Italian PM Monti hits the tape, telling Dow Jones a majority of the EU states favor common eurobonds. Unfortunately, tweets ZH, the ones that oppose them are the ones that pay the bills. [View news story]
Why stop there? How about Globo-bonds? Shouldn't we buy a PC for some guy in Congo? BTW, how's the "Egyptian IPO" going for FaceBook? I hear the Muslim Brotherhood FB site is calling for riots if their candidate loses June 16-17 in the runoff. Where have I heard those dates before? Oh yeah, the Greek referendum on EU membership!
Guns are selling like hotcakes: Smith & Wesson (SWHC) announces preliminary results for FQ4, saying sales were up 28% Y/Y to $129M - higher than the firm's guidance calling for $113M-$118M. Preliminary firearm order backlog increased 135% Y/Y and 121% Q/Q to approximately $439M. Shares +5.2% premarket. [View news story]
Best handguns in the world, and a great investment. Don't worry about Romney and guns, he's not running for Gov. of Mass. this time around. Obama? Yuuup!
Patrick Chovanec details the "unraveling" of Chinese real estate: April housing starts -14.4% Y/Y, Office starts -21%, Retail starts -18.7%, Land sales -54.7%. Foreign funding of property development -80.8% Y/Y. The only thing holding up real estate investment is a flurry of completions by desperate developers. Once this ends, the hit to GDP may be enough to push the economy into a hard landing. [View news story]
Their "soft landing" hopes are based on their helicopter, along with Bernanke's, being certified in autorotation when they stall.
Soros Fund Management's latest 13-F shows that firm has liquidated its remaining shares of Google (GOOG) this quarter, showing no stake in the internet giant after holding 259K, its largest position, at last report. The firm also took some new positions in the financials, buying shares in the big banks JPMorgan (JPM), Goldman Sachs (GS) and Regions Financial (RF). [View news story]
Had to play the Obama loss on JPM? LMAO. How fast the rats desert the sinking ship. Digital gets dumped, but let's IPO Sit-on- my-Facebook! CA needs it! ROFLMAO. The Big (Freeport) Mac looks much better.
Freeport-McMoRan (FCX -4.8%) CEO Richard Adkerson sees big Chinese demand boosting copper, and to that end FCX will increase its capex budget to $4.3B in 2012 and $4.2B in 2013 from $2.5B last year. Since the world's top 10 copper mines combined produce only ~5M tons/year, handling increased demand would require "significant investment" in new reserves. [View news story]
Another real business getting hurt while debutants caress Sit-On-My-Facebook. Yes, more thank you.
J.C. Penney (JCP): Q1 EPS of -$0.25 misses by $-0.15. Revenue of $3.15B misses by $0.3B. Discontinues $0.20 quarterly dividend. Shares -14.5% AH. (PR) [View news story]
Excellent. A few more points and I'm on it. Yes, the middle class retailer is taking it on the chin, while the uppper end and lower end are getting the business. But, when it settles, the middle class are still the red cells in the blood stream. On-line Levis purchases? Nope, been screwed, I go to Penneys. James Cash had the right idea, markets will peak and trough, but JC Penneys is my kinda store.
Facebook (FB) is working with a recruiting firm to add new directors, including at least one woman, Bloomberg reports. Facebook's board currently consists of Mark Zuckerberg, Washington Post CEO Donald Graham, VCs Jim Breyer and Peter Thiel, Netflix CEO Reed Hastings, and UNC president emiritus Erskine Bowles. Zuckerberg's voting rights and history suggest the board has little power in practice. (more on FB) [View news story]
It could be the 12 diciples and I wouldn't touch Sit-on-my-Facebook. But, that's just me...I'm not a "gamer" either, but I hear many are.
Just two days after JPMorgan (JPM) announced a massive $2B trading loss, Pimco's Bill Gross comes to its defense, calling it one of the “best-run banks in the world." It’s a decently capitalized bank, Gross says, with $120B of Tier-1 capital. "That’s 10.5%, which is higher than the 9% U.S. average.” And capital quality, according to Pimco, is what you need to trust most in a situation like this. [View news story]
I'll take a humbled Dimon over a strutting Progressive any day. PIMCO had to eat their spinach last year, and have done well. Now, it's JPMs turn, and of course the clueless investigate them because they fessed up. In the fantasyland of liberalism it's either all unicorns and skittles or there's a sinister plot.
S&P 500 futures gap down 1% at the open following Hollande's victory in France and a poor showing by Pasok and New Democracy in Greece (regional elections in Germany didn't go Merkel's way either). German Dax futures -1.3%, France's CAC 40 -1.5%. The euro gaps down 70 pips to $1.3009 vs. the greenback, and £0.8059 vs. sterling, the lowest level since late 2008. [View news story]
Buying opportunity? Brrraaahhh! Don't put me in coach. We're getting killed out there. (Maybe we need some new coaches?)
Private Real GDP Growth Picks Up Steam [View article]
If -12.2% on defense and -2.2% in state and local gov. spending were included in an overall -3.1% gov. spending decline, then +11.3 in other gov. spending offset those declines. Therefore, I imagine the savings in defense and state and local govenment are reduced by an increase of 11.3% in federal spending, mainly in entitlements. So, in the end, while private GDP increased 3.4%, federal government entitlement GDP increased at a rate of more than three times that, while military and states dropped. If this is encouraging to some, I'm not among them.
Individual investors are allocating the least amount of cash this year to U.S. high-yield mutual funds, in a signal that sentiment may be shifting. Concern is mounting that a reversal of the stampede into the funds would undermine a market that’s gained 54% since the end of 2008. “You’ve got the classic combination of promised instant liquidity and illiquid underlying assets.” [View news story]
Then there's this...
China CDS 5-Yr (CNCD5: ) last trade 173.57 up 19.34 (+12.54%)
Italian PM Monti hits the tape, telling Dow Jones a majority of the EU states favor common eurobonds. Unfortunately, tweets ZH, the ones that oppose them are the ones that pay the bills. [View news story]
Shouldn't we buy a PC for some guy in Congo?
BTW, how's the "Egyptian IPO" going for FaceBook?
I hear the Muslim Brotherhood FB site is calling for
riots if their candidate loses June 16-17 in the
runoff. Where have I heard those dates before?
Oh yeah, the Greek referendum on EU membership!
Guns are selling like hotcakes: Smith & Wesson (SWHC) announces preliminary results for FQ4, saying sales were up 28% Y/Y to $129M - higher than the firm's guidance calling for $113M-$118M. Preliminary firearm order backlog increased 135% Y/Y and 121% Q/Q to approximately $439M. Shares +5.2% premarket. [View news story]
Don't worry about Romney and guns, he's not running
for Gov. of Mass. this time around. Obama? Yuuup!
Patrick Chovanec details the "unraveling" of Chinese real estate: April housing starts -14.4% Y/Y, Office starts -21%, Retail starts -18.7%, Land sales -54.7%. Foreign funding of property development -80.8% Y/Y. The only thing holding up real estate investment is a flurry of completions by desperate developers. Once this ends, the hit to GDP may be enough to push the economy into a hard landing. [View news story]
Soros Fund Management's latest 13-F shows that firm has liquidated its remaining shares of Google (GOOG) this quarter, showing no stake in the internet giant after holding 259K, its largest position, at last report. The firm also took some new positions in the financials, buying shares in the big banks JPMorgan (JPM), Goldman Sachs (GS) and Regions Financial (RF). [View news story]
How fast the rats desert the sinking ship.
Digital gets dumped, but let's IPO Sit-on-
my-Facebook! CA needs it! ROFLMAO.
The Big (Freeport) Mac looks much better.
General Motors (GM) up 4.1% after hours as Berkshire Hathaway discloses a 10M-share holding. Record earnings at operating businesses have Warren Buffett's firm investing more funds into stocks. (Berkshire's 13F) [View news story]
Cut our loses, as soon as the Buffet bump is done,
say 10 a.m. EST tomorrow.
Freeport-McMoRan (FCX -4.8%) CEO Richard Adkerson sees big Chinese demand boosting copper, and to that end FCX will increase its capex budget to $4.3B in 2012 and $4.2B in 2013 from $2.5B last year. Since the world's top 10 copper mines combined produce only ~5M tons/year, handling increased demand would require "significant investment" in new reserves. [View news story]
caress Sit-On-My-Facebook. Yes, more thank you.
J.C. Penney (JCP): Q1 EPS of -$0.25 misses by $-0.15. Revenue of $3.15B misses by $0.3B. Discontinues $0.20 quarterly dividend. Shares -14.5% AH. (PR) [View news story]
Yes, the middle class retailer is taking it on the chin,
while the uppper end and lower end are getting the business.
But, when it settles, the middle class are still the red cells
in the blood stream. On-line Levis purchases? Nope, been
screwed, I go to Penneys. James Cash had the right idea,
markets will peak and trough, but JC Penneys is my kinda store.
Glu Mobile (GLUU +13.2%) soars in mid-day trading after receiving a positive mention on CNBC's Fast Money as a social gaming play. [View news story]
That sounds like the prettiest horse in the glue factory.
Hey, that's us! Buy, buy, buy!
Facebook (FB) is working with a recruiting firm to add new directors, including at least one woman, Bloomberg reports. Facebook's board currently consists of Mark Zuckerberg, Washington Post CEO Donald Graham, VCs Jim Breyer and Peter Thiel, Netflix CEO Reed Hastings, and UNC president emiritus Erskine Bowles. Zuckerberg's voting rights and history suggest the board has little power in practice. (more on FB) [View news story]
But, that's just me...I'm not a "gamer" either, but I hear many are.
Just two days after JPMorgan (JPM) announced a massive $2B trading loss, Pimco's Bill Gross comes to its defense, calling it one of the “best-run banks in the world." It’s a decently capitalized bank, Gross says, with $120B of Tier-1 capital. "That’s 10.5%, which is higher than the 9% U.S. average.” And capital quality, according to Pimco, is what you need to trust most in a situation like this. [View news story]
PIMCO had to eat their spinach last year, and have done well.
Now, it's JPMs turn, and of course the clueless investigate
them because they fessed up. In the fantasyland of liberalism
it's either all unicorns and skittles or there's a sinister plot.
U.S. stock futures drop off, weighed down by JP Morgan's trading loss and European debt woes. S&P -0.5%, Dow -0.4%. [View news story]
S&P 500 futures gap down 1% at the open following Hollande's victory in France and a poor showing by Pasok and New Democracy in Greece (regional elections in Germany didn't go Merkel's way either). German Dax futures -1.3%, France's CAC 40 -1.5%. The euro gaps down 70 pips to $1.3009 vs. the greenback, and £0.8059 vs. sterling, the lowest level since late 2008. [View news story]
Brrraaahhh! Don't
put me in coach.
We're getting killed out there.
(Maybe we need some new coaches?)
Apr. Challenger Job-Cut Report: 40,559 , up 7.1% from 37,880 prior. [View news story]
Private Real GDP Growth Picks Up Steam [View article]
Individual investors are allocating the least amount of cash this year to U.S. high-yield mutual funds, in a signal that sentiment may be shifting. Concern is mounting that a reversal of the stampede into the funds would undermine a market that’s gained 54% since the end of 2008. “You’ve got the classic combination of promised instant liquidity and illiquid underlying assets.” [View news story]
China CDS 5-Yr (CNCD5: )
last trade 173.57
up 19.34 (+12.54%)