In a effort to govern behavior and protect clients the SEC is expected to unveil new rules today.Comments »
Monthly Archives: June 2011
Cliffs Natural sees 2011 revenue $7.3B vs. consensus $7.11BComments »
“I am not afraid of treasurys but if my accountants would allow me I would be 100 percent in equities.
“Equities are historically cheap, but people are still going out of equities and paying 2 and 20 (for hedge fund exposure) and hoping for better returns than on equities.
“Anything earning 3 percent or lower is the dumbest thing you can do,” he added. “If we went on holiday four years ago and came back better human beings with a tan, markets would still be back where they were four years ago.”Comments »
Futures are 10 points above fair value, ahead of the Greek austerity vote–taking place right now.
Oil is up $1.1, European stocks are higher by almost 2% and European CDS are tightening.
Risk on.Comments »
Private equity firms, Leonard Green and CVC acquired the company for $51.25.
Ticker BJ.Comments »
The Federal limousine fleet has risen by 73% under the green and frugal Obama administration, over the past two years.Comments »
Affirmed Aa2 rating.Comments »
Needham notes Muddy Waters released a negative letter to Spreadtrum CEO Dr. Leo Li this morning raising a number of negative questions about the company’s business, accounting policies and management changes. While at first blush the report raises a lot of questions, they note that nothing new is actually raised in the letter. The firm believes Muddy Waters is taking advantage of its success in identifying other fraudulent companies in China to raise questions about Spreadtrum in order to profit from its short position in SPRD. They encourage investors to buy SPRD on related weakness. Firm says many of the questions posed in the letter to Dr. Li are related to changes made at SPRD as far back as two years ago, the question about SPRD’s success relative to competitors is answered by its market share gains, issues around the increase in Inventories and Advances from customers have been asked and explained over the past two quarters and MobilePeak is admittedly a pre-revenue company that expands SPRD’s technology portfolio to include 3G WCDMA/HSPA air interfaces.