Feb 12, 2010

Daily Markets - Financial News And Opinions

Daily Markets - Financial News And Opinions

FINRA Board To Form Committee To Address Claims Of Schapiro Misconduct « Larry Doyle »

Posted: 12 Feb 2010 05:45 PM PST

When in doubt, form a committee and have more meetings. This rope-a-dope style of leadership is all too prevalent in our nation. Why is it that the Wall Street-Washington incest can not be exposed for what it really is? When will somebody in our country display integrity and leadership while acknowledging the existence and stench of this incest?

Recall that the board of FINRA was meeting this past Wednesday to address allegations of misconduct by Mary Schapiro and other FINRA execs. … [visit site to read more]

Forex Trading: US Dollar Holds Onto Gains Despite Thin Holiday Trading « BrewerFX »

Posted: 12 Feb 2010 05:31 PM PST

The U.S. Dollar soared early Friday following a surprise 50 basis point hike in China’s bank reserve rate. Additional strength was provided by a better than expected U.S. Retail Report. The Dollar pared some of its gains after the University of Michigan Survey fell unexpectedly. Forex market trading has been erratic ahead of the week long Chinese holiday and the extended U.S. weekend.
The aggressive move by China is an attempt to cool credit without tightening interest rates. The intention of … [visit site to read more]

Why The World Needs Short Sellers « Justice Litle »

Posted: 12 Feb 2010 05:01 PM PST

Short selling has a notoriously bad reputation. And yet, not only is short selling a legitimate activity, it provides a vital service to the marketplace.

Well, you broke all the records. You smashed ‘em

Last week the question was posed, “Are you interested in learning more about shorting?” Your collective answer was an aggressive “YES, I want to learn more about shorting.” More feedback came in for that single query than any other Taipan Daily piece thus far. (That’s a pretty high … [visit site to read more]

How To Become A Better ETF Investor « Tom Lydon »

Posted: 12 Feb 2010 04:01 PM PST

When you rate yourself on your exchange traded fund (ETF) investing prowess, if you’re like most people, you may believe that you’re above average. But the truth is that most investors are average. If you’re looking to move up a notch, read on.

On average, many investors think they are good or pretty good at investing - the same way most people believe they’re better drivers than others on the road. We can’t all be that great, though, or there would be no accidents.

What does the “average … [visit site to read more]

Economic Instability A Result Of Extreme Imbecility « Daily Reckoning »

Posted: 12 Feb 2010 04:00 PM PST

We were snowed in Tuesday, Wednesday and Thursday. By Thursday, essential supplies were running short. All we had left was two cases of red wine. Would that be enough to last until Friday? We had our doubts…
Cabin fever had set in. In desperation, we read the paper. Big mistake. The papers in Washington take themselves seriously. They tell us about congressmen, senators, agency heads, lobbyists, crooks, perverts and other politicos. One man has held up a liquor store. Another has waylaid an … [visit site to read more]

Daily ETF Roundup: FXI Sinks, UNG Jumps « Michael Johnston »

Posted: 12 Feb 2010 03:25 PM PST

Markets finished the day flat, as continued fears over sovereign debt and Chinese credit markets weighed on global equities. This comes despite a promise to bailout Greece, as the lack of details regarding the bailout plan scared off some investors who fear for the future of the common currency union. The market decline was led by Dow component 3M, which sank more than 1.4% on a report from Merrill Lynch that expects slower growth from the manufacturer in the coming cycle. The NASDAQ, however, … [visit site to read more]

Int’l Game Tech Exits Japanese Market « Zacks Investment Research »

Posted: 12 Feb 2010 03:10 PM PST

The leader in slot machine development and manufacturing, International Game Technology, Inc. (IGT), announced the closure of its operations in Japan due to ongoing difficult market conditions and lack of a strategic fit with its core business. The closure is expected to be completed by the third quarter of fiscal 2010.
IGT expects to record approximately $20 million in severance-related and other charges in the second and third quarters of fiscal 2010.
The key goal for IGT in 2010 is to … [visit site to read more]

Keynesian Economics: A Halfwit’s Guide To Monetary Inflation « Daily Reckoning »

Posted: 12 Feb 2010 03:00 PM PST

Information Clearing House Newsletter had the quote, "Believe those who are seeking the truth; doubt those who find it" by Andre Gide, which is generally true about most things, except in the case of economics, because the only true economic theory has already been found, and it is the Austrian school of economics, also known as the Austrian Business Cycle Theory (ABCT), and I have nothing but contempt for anyone who says differently, especially since it can be found every day, for free, at … [visit site to read more]

Video: Apple Announces “Countdown To 10 Billion Songs” « NYFP »

Posted: 12 Feb 2010 02:23 PM PST

As Apple’s iTunes nears having a total of 10 billion songs downloaded since opening in 2003, the company has begun a contest offering a prize to the individual who downloads the landmark 10 billionth song. … [visit site to read more]

Video: NYSE Closing Bell Market Monitor: MMM, MOT « NYFP »

Posted: 12 Feb 2010 02:19 PM PST

The latest in news, commentary, and information on what’s moving the US equities markets. Watch this broadcast LIVE at 4:00 pm EST daily @ “http://www.nyx.com/marketmonitor” … [visit site to read more]

Video: Crude Prices Slide On Inventory « NYFP »

Posted: 12 Feb 2010 02:10 PM PST

Front month crude prices reversed recent gains following a surprising rise in crude inventories to close out the week. … [visit site to read more]

Dollar Index Up: A Momentary Safe Haven From Greek Debt « Daily Reckoning »

Posted: 12 Feb 2010 02:00 PM PST

The Greeks have put Wall Street in a headlock for more than 24 hours now. Let's recap…

Before market open yesterday: Greek debt deal announced, traders rejoice. Futures up
After market open: Traders realize there are no specifics to the deal. Market down
By midday: European Council president clarifies – the EU stands ready to help Greece, but help isn't actually needed right now. Best of all worlds. Market up
After market close: German Chancellor Angela Merkel let it be known Athens … [visit site to read more]

Shutterfly Lowered To Neutral « Zacks Investment Research »

Posted: 12 Feb 2010 01:59 PM PST

We are lowering our recommendation on the shares of Shutterfly Inc. (SFLY) to Neutral.
Shutterfly's fourth quarter earnings of 88 cents per share were well ahead of the Zacks Consensus Estimate of 70 cents, driven primarily by better-than-expected growth in revenue. Net revenues were up 22% from the prior-year quarter to $131.1 million.
For full year 2009, Shutterfly earned $5.9 million or 22 cents per share, up from $3.7 million or 14 cents per share a year ago. Revenues were up 15% to … [visit site to read more]

‘They Just Don’t See It’ « Michael Panzner »

Posted: 12 Feb 2010 01:49 PM PST

OK, time for a pop quiz.
When it comes to figuring out where things are headed, would you rather listen to these guys:

“U.S. Economy to Strengthen, Reducing Unemployment, Survey Says” (Bloomberg)

U.S. unemployment peaked in October and will retreat through 2011 as the economy strengthens, according to economists surveyed by Bloomberg News.
The world's largest economy will grow 3 percent this year and next, more than anticipated a month ago, according to the median estimate of 62 economists … [visit site to read more]

Three Stocks Ready To Benefit From The Economy’s Newfound Strength « Investment U »

Posted: 12 Feb 2010 01:43 PM PST

Friday, February 12, 2010: Issue #1196
The latest government data showed that the U.S. economy expanded strongly during the fourth quarter of 2009, galloping along at an annualized 5.7% GDP growth rate.
Now admittedly, numbers like this get revised more often than a five-year-old's alibi when questioned about a broken vase. But given that GDP contracted by 5.4% in the fourth quarter of 2008, that's quite a comeback.
Those with their glasses half-empty are skeptical of the economy's … [visit site to read more]

Republic Services Matches Ests « Zacks Investment Research »

Posted: 12 Feb 2010 01:38 PM PST

Republic Services Inc. (RSG) reported earnings per share from continuing operations of 33 cents, excluding restructuring charges, costs to achieve synergies, loss on disposition of assets and impairments, net, remediation charges and the tax effect of permanent items. This matches the Zacks Consensus Estimate.
Revenue for the three months ended Dec 31, 2009 increased to $1,999.0 million compared to $1,244.4 million for the same period in 2008. This increase in revenue is attributable to the … [visit site to read more]

Daimler To Raise Stake In Kamaz « Zacks Investment Research »

Posted: 12 Feb 2010 01:18 PM PST

Daimler AG (DAI) plans to increase its stake in Russian truck manufacturer OAO Kamaz from 10% to 15%. The automaker is in negotiation with European Bank for Reconstruction and Development (EBRD) to jointly acquire the additional 5% stake in the truck maker. Initially, Daimler will increase its holding in Kamaz by one percent to 11%, while the remaining 4% would be bought by EBRD.
In late 2008, the Daimler Truck division bought a 10% stake in the leading truck company of Russia (with a market … [visit site to read more]

Fund Dedicated To Concept That Gov’t Will Never Abandon Credit Expansion « Daily Reckoning »

Posted: 12 Feb 2010 01:00 PM PST

A wide-ranging research newsletter on the "sovereign time bomb" released today covers topics including hyperinflation, deflation, bond, gold, and its perspective on the government's role in creating the financial crisis. Matterhorn Asset Management believes governments "will not abandon further credit expansion."
From the newsletter:
"In our view, governments like the US and the UK and many others will not abandon further credit expansion. They are committed to printing increasing … [visit site to read more]

Theravance Misses Estimates « Zacks Investment Research »

Posted: 12 Feb 2010 12:55 PM PST

During the fourth quarter of 2009, Theravance's (THRX) loss per share came in at 35 cents, missing the Zacks Consensus Estimate by two cents and worse than the loss of 26 cents reported in the year-ago period. Revenues were $3.8 million during the quarter compared with $5.9 million in the fourth quarter of 2008. For the full year of 2009, Theravance reported revenues and loss per share of $24.4 million and $1.35, respectively.
Theravance earns revenues in the form of milestone payments from … [visit site to read more]

Tough Quarter For Molina « Zacks Investment Research »

Posted: 12 Feb 2010 12:39 PM PST

Molina Healthcare, Inc. (MOH) suffered fourth-quarter loss of 18 cents per share, which was worse than the Zacks Consensus Estimate of a loss of 16 cents. The company earned 55 cents in the year-ago quarter. The disappointing performance of the company in the quarter was attributable to increased medical care costs, higher utilization and compression of margin related to state budget shortfalls.
Quarterly Results
Total operating revenue in the quarter came in at $964.22 million as opposed to … [visit site to read more]

Equinix/Switch & Data Merger OK’d « Zacks Investment Research »

Posted: 12 Feb 2010 12:23 PM PST

Equinix Inc. (EQIX) and Switch & Data Facilities Co. (SDXC) can now move forward with their merger plan, as the shareholders of Switch & Data has approved the merger for a consideration of $689.0 million.
More than 85% of Switch & Data’s outstanding common stock holders participated in the vote, among which in excess of 99% were in favor of the merger. We believe this is positive news for Equinix, as this acquisition is expected to further strengthen the company's leadership … [visit site to read more]

John Burns’ Take On Housing « Thomas Smicklas »

Posted: 12 Feb 2010 12:01 PM PST

I would hazard a guess that few investors have heard of John Burns. Burns is “Best of Breed” from my vantage point analyzing and predicting real estate trends. He publishes a subscription service which comprehensively slices and dices all things related to the housing industry entitled The U.S. Housing Forecast. In addition, he provides a free monthly newsletter which is precise, readable and thought-provoking under the banner U.S. Building Market Intelligence.

The February newsletter, about … [visit site to read more]
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