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Monthly Archives: May 2011

Today’s Winners and Losers

2 ARTX 49.61
3 FFHL 30.58
4 SCEI 20.48
5 ROSE 19.98
6 SIHI 18.06
7 PRST 17.72
8 GAIA 16.02
9 MSHL 14.75
10 CYCC 13.48
11 DTG 13.10
12 SMI 12.39
13 AERG 12.21
14 LIOX 12.15
15 ONTY 12.08
16 WTW 11.83
17 GHM 11.65
18 QSURF 11.59
19 SYY 11.36
20 HCKT 10.55
21 CRD-B 10.10
22 NAT 10.05
23 MDTH 9.99
24 SSN 9.86
25 PRKR 9.68
26 ABAT 9.59

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No. Ticker % Change

2 HW -15.50
3 OINK -13.96
4 REVU -12.84
5 GKK -12.22
6 TNCC -11.38
7 RCON -11.32
8 BLTI -11.07
9 ZRAN -10.91
10 PETS -10.87
11 CLWT -10.34
12 MPET -9.68
13 LFT -9.10
14 EFOI -8.91
15 GTXI -8.89
16 SPMD -8.49
17 DHRM -8.41
18 MOBI -8.24
19 TELK -8.19
20 TOPS -8.11
21 TBUS -7.95
22 LRAD -7.69
23 HRB -7.42
24 DEXO -7.39
25 DDSS -7.20

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Takeover Idears (SIC)

“(John Dorfman, chairman of Thunderstorm Capital in Boston, is a columnist for Bloomberg News. The opinions expressed are his own. His firm or clients may own or trade securities discussed in this column.)

Picking takeover candidates for fun and profit is a perennial investment sport.

How can it not be? When one company takes over another, it typically pays a 20 percent to 70 percent premium over the target’s prevailing stock price. Takeovers can enrich investors instantly.

According to Bloomberg’s database, there were 2,061 deals announced in the first quarter. The dollar volume of $269 billion was more than in any of the previous nine quarters.

In the second quarter so far, the average takeover premium has been unusually rich — 61 percent, the highest in 12 years.”

Full article

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Some Think Cash is Still King

“What a wild week it was! Last week, the US bumped off Osama bin Laden. Silver collapsed. Unemployment looked terrible on Thursday…and better on Friday.

Stocks looked like they were in trouble…but then seemed to stabilize by week’s end.

And President Obama suddenly became The Decider.

What do you make of it? Or, a more practical question, if you’ve got money to invest, what do you do with it?

On Friday, gold closed at $1,491 – about 5% below its all-time high. Buy it now? Or commodities, when they too seem to be coming off record highs? Oil was down 10% last week. Buy stocks – when all the evidence shows that they are vulnerable to a big downswing…and will probably produce sub-par returns for many years?

What’s the alternative? Hold cash!”

Full article

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LinkedIn Plans IPO With a $3 Billion Evaluation So Far

“(Reuters) – LinkedIn Corp, the social site for business professionals, is hoping to cash in with investors eager to gobble up shares in sites such as Facebook, with a public debut valuing the company at more than $3 billion.”

Full article

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Iranian Revolutionary Guards given purging instructions

According to a FoxNews contributor (opinion piece), an informant inside the IRG has passed along information telling of a standing order given by the Supreme Leader of Iran to potentially seize all government operations and purge all active government employees – in all ranks.

The Basij militia is supposedly being situated to best carry out this order.

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S&P lowers rating on Greece; other Monday ratings

United States Cellular Corp. Proposed Senior Unsecured Notes Assigned ‘BBB-‘ Rating 09-May-2011
11:31 EST

GCI Inc. Proposed $325 Million Senior Notes Due 2021 Rated ‘BB-‘, Recovery Rating ‘4’ 09-May-2011
11:23 EST

Spansion Inc. Corporate Credit Rating Raised To ‘BB-‘ On Improved Leverage And Revenue Growth 09-May-2011
11:20 EST

Sharon Springs Central School District, NY GO Debt Rating Raised To ‘A+’; Outlook Stable 09-May-2011
10:35 EST

Elan Corp. PLC ‘B’ Rating Placed On CreditWatch Positive On Announced EDT Business Sale 09-May-2011
10:12 EST

Netherlands-Based AEG Power Solutions Assigned ‘B-‘ Corporate Credit Rating; Outlook Stable 09-May-2011
09:39 EST

Emergency Medical Services Corp. $950M Senior Unsecured Notes Assigned ‘B-‘ Rating (Recovery Rating: 6) 09-May-2011
08:49 EST

Rating Raised On First Flexible No.4’s Class B Notes; Others Affirmed In First Flex 4, 5, 7, And Paragon SF 1 RMBS Deals 09-May-2011
08:43 EST

Ratings Affirmed On All Of Credit Mutuel Arkea Home Loans SFH’s Outstanding Covered Bonds 09-May-2011
08:32 EST

Ratings On Greece Lowered To ‘B/C’ From ‘BB-/B’ On Rising Rescheduling Risk; Remain On CreditWatch Negative 09-May-2011
08:16 EST

Preliminary Ratings Assigned In Volkswagen Bank’s German Auto Loan ABS Transaction Driver Nine 09-May-2011
06:17 EST

Dutch Private-Label Soft Drink/Fruit Juice Producer Refresco Assigned ‘BB-‘ CCR And Debt Rating; Outlook Stable 09-May-2011
05:45 EST

U.K.-Based Automaker Jaguar Land Rover PLC Assigned ‘B+’ Preliminary Corporate Credit Rating; Outlook Stable 09-May-2011
05:10 EST

PT Pertamina’s Proposed Senior Unsecured Notes Assigned ‘BB+’ Rating 09-May-2011
04:40 EST

PT Pertamina (Persero) Assigned ‘BB+’ Rating With Positive Outlook 09-May-2011
04:00 EST

Rating On NZF Money Ltd. Lowered To ‘CCC-‘ On Ongoing Liquidity Concerns; Remains On CreditWatch Negative 09-May-2011
01:43 EST

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Zuckerman: Smart money betting against China

An interesting opinion, and probably one of the first I’ve heard openly calling for the Chinese economy to start facing missteps and crumble.

Zuckerman says “a lot of people are betting against China, or trying to figure out ways to bet that China will have real deep problems. Obviously they have got too much growth right now, not too little growth.” China’s economy grew 9.70% in the first quarter of 2011 as compared to the same time period last year, according to China’s National Bureau of Statistics. But inflation is rising, and Zuckerman adds, “betting that there’s real deep problems in China is a little bit out of the box, it’s not conventional wisdom.”

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Brett Arends: Housing crash intensifying

According to the article, statistics follow as below:

Average home prices are down 8% from a year ago, 3% over the quarter, and are falling at about 1% every month, according to Zillow.

And the percentage of homeowners in negative-equity positions — with a home worth less than its mortgage — has rocketed to 28%, a new crisis high.

Zillow no longer feels the housing market will bottom before 2012.

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NY Fed Report on Consumer Credit Released Today

“NEW YORK—The Federal Reserve Bank of New York released the Quarterly Household Debt and Credit Report for the first quarter of 2011 today, which showed signs of healing in the consumer credit markets. Evidence of improvement includes:

  • an increase in credit limits, by about $30 billion or 1%, for the first time since the third quarter of 2008;
  • a steady number of open mortgage accounts, following a period of decline beginning in early 2008;
  • continued decline of new foreclosures and new bankruptcies, down 17.7% and 13.3% respectively in the last quarter;
  • a 15% decline of total delinquent balances, compared to a year ago; and
  • a broad flattening of overall consumer debt balances outstanding.

Non-housing related debt, including credit cards, student loans, and auto loans, declined slightly (less than 1%), driven by a noticeable 4.6% decline in credit card balances. Credit inquiries, an indicator of consumer demand for new credit, came off their recent peak in the fourth quarter of 2010.

“We are beginning to see signs of credit markets healing gradually and evidence of greater willingness of consumers to borrow and banks to lend,” said Andrew Haughwout, vice president and New York Fed research economist. “We will continue to closely monitor these trends and see if they are sustained in coming quarters.”

The New York Fed releases this information on a quarterly basis in order to help community groups, small businesses, state and local government agencies and the public better understand, monitor and respond to trends in borrowing and indebtedness at the household level. The next release is scheduled for August 8, 2011.”

Full report

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Anecdotal Evidence on the Economy

“SACRAMENTO (CBS13) — The recycling business is booming in California, and consumers are recycling at a rate of 82 percent which is the highest in the nation.

It’s not how most people want to spend their Friday afternoon – lugging and dumping their trash at a recycling center, but this is how people like Warren survive.

“I was working as a network hardware engineer for nine years,” says Warren.

After getting laid off this nicely dressed, well-educated single dad realized dumpster diving was one of the few ways he could put food on the table for his girls.

“Every little bit adds up, digging through garbage cans isn’t fun bit you do what you gotta do,” explains Warren.”

Full article

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Zillow: ‘Underwater’ Homeowners Increase to 28%

“More than 28 percent of U.S. homeowners owed more than their properties were worth in the first quarter as values fell the most since 2008, Zillow Inc. said today.

Homeowners with negative equity increased from 22 percent a year earlier as home prices slumped 8.2 percent over the past 12 months, the Seattle-based company said. About 27 percent of homes were “underwater” in the fourth quarter, according to Zillow, which runs a website with property-value estimates and real-estate listings.

Home prices fell 3 percent in the first quarter and will drop as much as 9 percent this year as foreclosures spread and unemployment remains high, Zillow Chief Economist Stan Humphries said. Prices won’t find a floor until 2012, he said.”

Full article

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David Einhorn: “in response to quantitative easing, investors now fear inflation and have sold bonds. “

“The Federal Reserve’s $600 billion bond buyback program designed to fuel economic recovery is backfiring by stoking inflationary fears, says David Einhorn, head of the Greenlight Capital hedge fund.

The Fed’s program, known as quantitative easing, is designed to pump money into banks so they will fuel economic growth by lending more and by investing in stocks.

If the stock market rises, companies otherwise skittish about raising capital may do so and create jobs.

But inflationary fears are messing up plans.”

Full article

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Always Read the Fine Print

“A few months ago, Bank of America offered Sergio Cortez of Staten Island, N.Y., the help he desperately needed to stay in his home: a break on his mortgage. Like millions of others, he was facing foreclosure. But there was a catch buried in the fine print. Cortez had to waive any possibility of ever suing the bank for anything relating to the loan.

Cortez isn’t alone. While regulators have banned the practice, some banks and others who handle mortgages have still been forcing homeowners into a corner: You want a chance at saving your home? Then you’ll have to waive your rights.

“It’s just unfair,” said Jane Azia, director of consumer protection for the New York State Banking Department. “It puts borrowers in a very vulnerable situation.”

We identified eight banks and other mortgage servicers who offer help that limits homeowners’ ability to sue or fight foreclosure. When we contacted them, they offered a variety of responses. Some said the inclusion of the waivers had been a mistake and would stop. Some argued that language that seemed to waive the homeowner’s rights didn’t actually do so. One argued that a loophole in a rule barring the practice meant their inclusion in certain agreements was proper.”

Full article

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Netflix Prepares To Take Latin America by Storm

“By Ron Haruni May 8, 2011, 6:15 PM Author’s Website

U.S. online streaming-DVD delivery giant Netflix, Inc (NFLX) is working on a push into Latin America and is close to announcing deals with three of the continent’s largest broadcasters to begin streaming programming online in Argentina, Brazil, Chile and Mexico, the Financial Times reports, citing several people briefed on the plans.

According to FT, the Los Gatos, Calif.-based group is negotiating to purchase telenovelas as well as other content material from Grupo Televisa and TV Azteca of Mexico and Globo of Brazil.

While Netflix declined to comment on its Latin America plans, it told FT that the group had considerable international ambitions based on the serious upside that exists in global expansion. Netflix, whose subscriber base could top 50 million by 2013, has more than 23 million subscribers in North America, including about 800,000 in Canada – up from about 15 million a year ago.

Netflix CEO Reed Hastings, who has seen his co.’s subscriber base more than double in the last 24 months and its market cap more than quintupled to $12.5 billion, told Bloomberg TV last week that Netflix was on a 70% growth curve. Latin America would become Netflix’s third market.”

Full article

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