It’s about time those fucking losers at the S&P did something to push back against the mountebanks who keep splitting up share classes to fleece investors from retaining power via voting rights. This, of course, is a consequence of activist shareholders, aka asshole hedge fund managers fucking with companies, and has little to do with you losers trading from Mom’s cellar.
Source: CNBC
S&P Dow Jones Indices said it will bar stocks that issue multiple classes of shares, effectively excluding Snap, which offers no voting rights to common shares. The move prevents Snap from being included in most major S&P indexes. The new policy, however, does not apply to existing components of the S&P 500, including some of the world’s most valuable public companies like Facebook, Alphabet and Berkshire Hathaway.
“Companies with multiple share class structures tend to have corporate governance structures that treat different shareholder classes unequally with respect to voting rights and other governance issues,” the index provider said in a statement.
“It has always been a poor idea for tech companies to maintain control this way,” said Duncan Davidson of Bullpen Capital. “The value of being in the index is much higher today than previously because so much capital is passively invested in ETFs that follow indexes. A stock like SNAP should be in the index due to its market cap,” he said.
Shares of SNAP hit a new low today — which is both degrading and unfortunate for loyal ‘stake holders.’
Even with the 40% drop in the most overvalued IPO in history, Snapchat is still trading at 30x sales.
Wells Fargo issued a note of caution, regarding the semiconductor sector today. Does anyone else remember how dreadful this sector was for years? You couldn’t pay me to buy a semi — now they’re all the rage.
He warned against some of the more expensive semis, like NVDA and LRCX, while suggesting the less expensive names were still great.
Source: The Fly on the Wall
Wells Fargo analyst David Wong downgraded the Semiconductor sector to Market Weight from Overweight. Recent earnings reports from chip companies suggest that year-over-year growth will likely plateau or perhaps even decelerate over the next few months, Wong tells investors in a research note. He believes many chip stocks now have “elevated multiples” off calendar 2018 earnings estimates. Wong still sees good investment opportunities in some specific stocks, however, and reiterates Outperform ratings on Intel (INTC), Qualcomm (QCOM), Micron (MU), AMD (AMD), Skyworks (SWKS) and Microsemi (MSCC).
CNBC’s halftime crew weighs in.
I agree with Josh on this one. If you like semis, stick with the high prices/high growth names. The idea of shifting to lower quality names that are cheaper is idiotic — especially if you’re concerned there could be a correction in the sector.
One of NVDA’s growth drivers is the bubble in the crypto ICO market. But don’t let that get in the way of a some good pin action.
Andrew Schmitt, the founder of Cignal AI, which provides market research for the networking component and equipment market as well as its end customers — tweeted the following this morning.
100G coherent port shipments in China during 2Q17 came in much higher than I or anyone else I know expected. Record quarter at Huawei.
The subsequent result has been an explosion to the upside in optical stocks, focused on 100g rollouts. This is all about Amazon-Google-Microsoft data centers, for those concerned.
Note the tweet occurred at 10:15am. Here is the intra-day chart of ACIA.
Lucky for you faggots, I’m on top of this shit. The 100g rollout is mine. Anyone who pretends to know more about it is both disillusioned and an asshole.
Alas, the power of Twitter. It’s amazing how inept management is in trying to unlock value there.
I couldn’t stop laughing while watching this video. By gosh, this man is insane. How does he keep getting elected?
When asked why would the United States endanger millions in Asia with a war with N. Korea, Graham said Trump told him there would be a war with N. Korea over their missile program, if they didn’t stop with all of the tomfoolery.
Lauer: ‘Every military expert says there’s no good military options’
Graham: ‘They’re wrong. There is a good military option to DESTROY NORTH KOREA’S PROGRAM AND NORTH KOREA ITSELF.’
Based off N. Korea’s last ICBM test, according to the Pentagon, the maximum altitude of the missile was 2,300 miles, lasting for 47 minutes.
In layman’s terms, this means they can already strike US cities.
Source: Zerohedge
According to physicist and co-director of the UCS Global Security Program, David Wright, if those numbers are correct, then the missile flown on a standard trajectory would have a range 10,400 km (6,500 miles), not taking into account the Earth’s rotation. Adding the rotation of the Earth increases the range of missiles fired eastward, depending on their direction. Calculating the range of the missile in the direction of some major US cities gives the approximate results in Table 1.
Table 1 shows that Los Angeles, Denver, and Chicago appear to be well within range of this missile, and that Boston and New York may be just within range. Washington, D.C. may be just out of range.
Wright caveats his calculations saying that “it is important to keep in mind that we do not know the mass of the payload the missile carried on this test. If it was lighter than the actual warhead the missile would carry, the ranges would be shorter than those estimated above.”
While the above calculation has yet to be confirmed by third parties, the US is not taking any chances. According to Reuters, top U.S. and South Korean military officials “discussed military options after North Korea launched an intercontinental ballistic missile (ICBM) on Friday.”
This makes perfect sense, from a national security standpoint. Threaten a country that is capable of striking major US cities with nuclear missiles with extinction. What could go wrong? Hey, while you’re at it, why not threaten Russia too?
Back on May 16th, private investigator Rod Wheeler said in a Fox News interview with Sean Hannity that he ‘had very little communication with’ the secret third party who helped finance his investigation into the murder of DNC staffer Seth Rich.
In that same interview, he also said that he knew of someone, that was very credible, who claimed he saw Seth Rich’s email(s) to Wikileaks.
Watch, in his own words — claiming that the DC police shut him down each time he asked about the Wikileaks.
“Maybe it is related to the DNC…a high ranking member of the DNC called the Rich family and wanted to know why was I snooping around.”
Now, all of a sudden, Mr. Wheeler is having a change of heart.
He’s claiming that, Malia Zimmerman, author of the fake Fox News article that wrongly attributed two quotes to Wheeler that had not been said, which has since been retracted, wanted to ‘shift the blame from Russia and help put to bed speculation that President Trump colluded with Russia in an attempt to influence the outcome of the Presidential election.”
Named in Wheeler’s suit are Zimmerman and Fox News contributor Ed Butowsky — a friend to former Press Secretary Sean Spicer and Steve Bannon.
According to Wheeler, Butowsky approached Wheeler in February with an offer to finance an independent investigation into the unsolved murder of Seth Rich. Bear in mind, Wheeler had said, on the record, that he was hired by the Rich family and had very little contact with the anonymous third party who was financing the whole thing.
Wheeler now alleges Butowsky contacted him about investigating the Rich case, but warned him to “Make sure to play down Fox News. Don’t mention you know Malia.”
Source: Bloomberg
“Butowsky and Zimmerman were not simply Good Samaritans attempting to solve a murder,” Wheeler said in the suit. They “hoped that, if they could confirm that Seth Rich leaked the DNC emails to WikiLeaks, that would debunk reports the Russians were responsible for the DNC hacks.”
The allegedly faked quotes used in the story, attributed to Wheeler, include, “My investigation up to this point shows there was some degree of email exchange between Seth Rich and Wikileaks.” Wheeler was also falsely quoted saying the Democratic National Committee or Clinton’s team were blocking the murder investigation.
Wheeler claims that Butowsky kept Spicer, Bannon and DOJ director of public affairs, Sarah Flores, apprised on his findings.
Ms. Flores flatly denied having any contact with Butowsky this year, saying “I have not communicated with Mr. Butowsky at any point this year.”
According to the suit, Wheeler said President Trump wanted the bogus quotes attributed to Wheeler in the Fox story, saying “that is the way the President wanted the article.”
The first paragraph of Wheeler’s complaint includes a screen shot of a May 14 text message to Wheeler by Butowsky that reads: “Not to add any more pressure but the president just read the article. He wants the article out immediately. It’s now all up to you. but don’t feel the pressure.”
Wheeler’s attorney issued the following statement:
“Fox News was working with the Trump administration to disseminate fake news in order to distract the public from Russia’s alleged attempts to influence our Country’s presidential election. Rod Wheeler unfortunately was used as a pawn by Ed Butowsky, Fox News and the Trump administration to try and steer away the attention that was being given about the Russian hacking of the DNC e-mails.”
NPR has confirmed that a meeting had taken place between Butowsky and Spicer at the White House.
Spicer now confirms meeting with the two but denies claims about the president.
“Ed’s been a longtime supporter of the president and asked to meet to catch up,” Spicer tells NPR on Monday night.
“I didn’t know who Rod Wheeler was. Once we got into my office, [Butowsky] said, ‘I’m sure you recognize Rod Wheeler from Fox News.’ ”
Spicer says Butowsky laid out what they had found about the case. “It had nothing to do with advancing the president’s domestic agenda — and there was no agenda,” Spicer says now. “They were just informing me of the [Fox] story.”
According to the suit, Butowsky was also responsible for informing Wheeler of the ‘credible’ third party who had seen Rich’s emails to Wikileaks.
On May 10, Butowsky and Zimmerman call Wheeler to say they have an FBI source confirming emails were sent from Seth Rich to WikiLeaks, though they do not share the source’s identity, according to the investigator’s suit. Wheeler will later say this is the only federal law enforcement source that Fox News — or he — has related to this story.
Moreover, the night before the Fox story ran, Butowsky coached Wheeler on what to say on tv.
“[T]he narrative in the interviews you might use is that you and [Fox News reporter Malia Zimmerman’s] work prove that the Russians didn’t hack into the DNC and steal the emails and impact our elections.” In another text, he writes: “If you can, try to highlight this puts the Russian hacking story to rest.”
Adding insult in injury, the Fox News author of the fake news article, Malia Zimmerman, contacted the father of Seth Rich, distancing Fox and herself from Wheeler, stating: “Much of our information came from a private investigator, Rod Wheeler, who we understand was working on behalf of you.”
When Wheeler confronted her about the letter she had sent to Mr. Rich, Zimmerman claimed “That’s the email that Fox asked me to send him. They wrote it for me.”
Butowsky tried to calm Wheeler by saying “One day you’re going to win an award for having said those things you didn’t say.”
The night before Wheeler was scheduled to appear on the Hannity show, Malia Zimmerman texted him “Reread the story we sent you last night [that contained the invented quotes] and stick to the script.”
Wheeler had recorded some of his conversations with Butowsky and had them transcribed for purposes of the suit.
Before Fox retracted the story.
After Fox retracted the story and Wheeler threaten to sue.
Butowsky has since deleted his Twitter account. Ed is a self described wealth manager who ‘for serial entrepreneurs, high-net worth and ultra-high-net worth individuals, professional athletes and celebrities.’
…………
If you thought the suit couldn’t get more bizarre, think again. Wheeler is also suing for racial discrimination against Fox, claiming the network had given him less airtime than white colleagues.
It’s worth noting, Wheeler’s attorney, Douglas Wigdor, represents several other current and former Fox staffers who’ve made similar claims.
An infamous prankster, dubbed @SINON_REBORN, who in the past pranked Lloyd BLankfein, Mark Carney, and several other high profile executives, emailed Anthony Scaramucci pretending to be Reince Priebus. The results were nothing short of amazing.
He wrote:
“I had promised myself I would leave my hands mud free, but after reading your tweet today which stated how; ‘soon we will learn who in the media who has class, and who hasn’t’, has pushed me to this. That tweet was breathtakingly hypocritical, even for you. At no stage have you acted in a way that’s even remotely classy, yet you believe that’s the standard by which everyone should behave towards you? General Kelly will do a fine job. I’ll even admit he will do a better job than me. But the way in which that transition has come about has been diabolical. And hurtful. I don’t expect a reply.”
The Mooch replied:
“You know what you did. We all do. Even today. But rest assured we were prepared. A Man would apologize.”
The Spoofer:
“I can’t believe you are questioning my ethics! The so called ‘Mooch’, who can’t even manage his first week in the White House without leaving upset in his wake. I have nothing to apologize for.”
The Mooch:
“Read Shakespeare. Particularly Othello. You are right there. My family is fine by the way and will thrive. I know what you did. No more replies from me.”
He then went on to spoof Jon Hunstman, The Mooch again, and employees at Skybridge. The White House acknowledged this sordid brand of fuckery and issued this noted: “We take all cyber related issues very seriously and are looking into these incidents further.”
Rep DeSantis joined The Foundation for Accountability and Civic Trust (FACT) in calling for an investigation into Wasserman Schultz, who employed Awan during and time as DNC chair — dating back to 2005.
Source: Politico
Awan and his relatives worked as shared employees for more than two dozen House Democrats in the past several years. After the Capitol Hill investigation came to light in early February, most lawmakers fired the other staffers in question.
But Wasserman Schultz retained Awan, even though he has been barred from accessing the House IT network since February. FACT maintains there’s no way Awan could have performed IT duties for Wasserman Schultz over the past six months, despite staying on the Florida Democrat’s payroll.
“House staff are compensated with taxpayer funds, and members are directly responsible for ensuring their staff are only paid for official public work, work that has actually [been] performed and at a rate commensurate with the work performed,” Matthew Whitaker, FACT executive director, wrote in a letter to the OCE.
“It was, therefore, contrary to the House ethics rule for Wasserman Schultz to continue to pay Awan with taxpayer funds even after he was barred from the House computer system and could not perform his duties, and was also under criminal investigation.”
Awan was arrested by the FBI last week attempting to leave the country, after wiring $300,000 to his home country of Pakistan. Previous to attempting flight, his wife left the country and he had been frantically liquidating real estate holdings.
Here’s Rep. DeSantis discussing the issue with Tucker Carlson, calling for an investigation.
“It’s extremely odd. We knew in February about the cash. We knew about the smashed hard drives. What’s the explanation for this behavior?”
HAHAHAHAHA — Scaramucci is gone and the General is in, so you thought the leaks would end.
WRONG.
This might be one of the worst leaks yet. Or, you might want to simply call it ‘fake news.’ Either way, General Kelly will have his hands full at the Trump White House, which appears to be populated with the scummiest people on the face of the planet — real self-fellatiors.
According to the Washington Post, an unnamed source inside the White said Trump directed Trump Jr. media response, addressing his meeting with Russians.
Flying home from Germany on July 8 aboard Air Force One, Trump personally dictated a statement in which Trump Jr. said that he and the Russian lawyer had “primarily discussed a program about the adoption of Russian children” when they met in June 2016, according to multiple people with knowledge of the deliberations. The statement, issued to the New York Times as it prepared an article, emphasized that the subject of the meeting was “not a campaign issue at the time.”
The claims were later shown to be misleading.
Over the next three days, multiple accounts of the meeting were provided to the news media as public pressure mounted, with Trump Jr. ultimately acknowledging that he had accepted the meeting after receiving an email promising damaging information about Hillary Clinton as part of a Russian government effort to help his father’s campaign.
The extent of the president’s personal intervention in his son’s response, the details of which have not previously been reported, adds to a series of actions that Trump has taken that some advisers fear could place him and some members of his inner circle in legal jeopardy.
As special counsel Robert S. Mueller III looks into potential obstruction of justice as part of his broader investigation of Russian interference in the 2016 election, these advisers worry that the president’s direct involvement leaves him needlessly vulnerable to allegations of a coverup.
“This was .?.?. unnecessary,” said one of the president’s advisers, who like most other people interviewed for this article spoke on the condition of anonymity to discuss sensitive internal deliberations. “Now someone can claim he’s the one who attempted to mislead. Somebody can argue the president is saying he doesn’t want you to say the whole truth.”
The rat continues…
“He refuses to sit still,” the presidential adviser said. “He doesn’t think he’s in any legal jeopardy, so he really views this as a political problem he is going to solve by himself.”
WaPo offers us the play by play details, as if a fly on the wall was reporting directly from the scene.
Air Force One took off from Germany shortly after 6 p.m. — about noon in Washington. In a forward cabin, Trump was busy working on his son’s statement, according to people with knowledge of events. The president dictated the statement to Hicks, who served as a go-between with Trump Jr., who was not on the plane, sharing edits between the two men, according to people with knowledge of the discussions.
In the early afternoon, Eastern time, Trump Jr.’s team put out the statement to the Times. It was four sentences long, describing the encounter as a “short, introductory meeting.”
“We primarily discussed a program about the adoption of Russian children that was active and popular with American families years ago and was since ended by the Russian government, but it was not a campaign issue at the time and there was no follow up,” the statement read.
Trump Jr. went on to say: “I was asked to attend the meeting by an acquaintance, but was not told the name of the person I would be meeting with beforehand.”
Over the next hour, word spread through emails and calls to other Trump family advisers and lawyers about the statement that Trump Jr. had sent to the Times.
There you have it folks. The President of the United States dictated a statement for his son, which was then sent to the NY Times. When do the concurrent prison sentences begin?
Whoever leaked this information to the Post, in light of recent events, neither respects or fears General Kelly. Given that it was Scaramucci’s job to find the rat’s in the White House, who exactly will be honored with the task to do that job now?
You slobs have been slacking, as evidenced by the underperformance of rotting flesh and coagulated puss vendors. The restaurant sector is under assault, thanks in large part to the recent sinking of the SS Starbucks.
Let me bring this information to your attention now, so that you could thank me later.
According to the impeccable algorithms of Exodus, eatery stocks are oversold. Get in there you fat fucks and buy some beef and cheese.
^^^If you knew what I was showing you now, you’d be trying to suck your own cock’s like Steve Bannon — trying to figure it out. Instead, you idly rely upon me to teach you the ways of man. Life is finite, gents. I can only do so much for you.
One of three individual stocks are flagged OVERSOLD in the eateries, this one being my favorite: DPZ. Everyone in America loves a good cheesy pizza to slob over. Parents feed them to their kids, who then grow up to become excellent cardiologist patients, sustaining their lives off beta-blockers, statins and nitroglycerine jolts. Every so often, when required, the Heimlich manoeuvre will be applied during fast eating BBQ expeditions — and electric shocks administered via defibrillators to keep ’em chugging along drinking tall glasses of milk with their smoked brisket sandwiches on top of a salad made from nothing but cheese.
If I had it in me, I’d buy DPZ — but my investments are currently spoken for — using the Exodus quant system. Betting against America is a bad idea. Betting against her appetite to consumer calories is financial suicide.
UPDATE: A statement from the WH regarding Scaramucci’s departure.
Scaramucci is leaving because the President “felt it was best to give Chief of Staff John Kelly a clean slate and the ability to build his own team. We wish him all the best.”
Twitter is lit with schadenfreude now, over the firing of Anthony Scaramucci, just 10 days after being appointed to assassin for Reince Prieus.
Apparently, Trump’s new Chief of Staff, Gen. Kelly, ordered Scaramucci out.
Source: The Failing NY Times
President Trump has decided to remove Anthony Scaramucci from his position as communications director, three people close to the decision said Monday, relieving him just days after Mr. Scaramucci unloaded a crude verbal tirade against other senior members of the president’s senior staff.
Mr. Scaramucci’s abrupt removal came just 10 days after the wealthy New York financier was brought on to the West Wing staff, a move that convulsed an already chaotic White House and led to the departures of Sean Spicer, the former press secretary, and Reince Priebus, the president’s first chief of staff.
The decision to remove Mr. Scaramucci, who had boasted about reporting directly to the president, not the chief of staff, John F. Kelly, came at Mr. Kelly’s request, the people said. Mr. Kelly made clear to members of the White House staff at a meeting Monday morning that he is in charge.
It was not clear whether Mr. Scaramucci will remain employed at the White House in another position or will leave altogether.
Let’s rundown the timeline again.
The Mooch, feeling a sense of duty and patriotism, sells his business and dedicates his life towards helping candidate and then President Trump achieve success. His obsession became heightened to the point that it caused a divorce, splitting up his family.
General Kelly must’ve made the departure of Scaramucci one his key conditions before taking on the role as Chief of Staff.
So, what have we leaned here today?
Four star marine corps generals do not have a sense of humor and eschew foul mouthed tirades.
Trump had no issue tossing Scaramucci over the side of his vessel, the SS Titanic, because shit was getting serious and he needed to fix the White House.
Anthony Scaramucci was escorted from White House grounds today after ouster, per source familiar with the scene
