In a effort to govern behavior and protect clients the SEC is expected to unveil new rules today.Comments »
Monthly Archives: June 2011
Zynga Expected to File for a $1.5-$2 Billion IPO Today
Social gaming company Zynga is anticipated to go public shortly….Comments »
Campbell Soup Company Will Cut Jobs To Increases Profits
The company plans to cut 800 jobs worldwide including a manufacturing plant here in the U.S.Comments »
MBA Mortgage Index Declines 2.9%
The Purchase index also fell by 3%.
Average 30 year fixed fell to 4.46% from 4.56%Comments »
Flash: CLF Raises Revenue Outlook
Cliffs Natural sees 2011 revenue $7.3B vs. consensus $7.11BComments »
Everything is up. You name it and it is probably trading higher….
Larry Fink Would be Invested 100% Equities if Possible
“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 »
Spreadtrum Communications Defends Itself Against Muddy Waters
They say accusations are baseless. The company has strong performance and say none of the accusations are true…Comments »
Japan’s Industrial Output Rises The Most Since 1953
Output increased 5.7% month over month…Comments »
Canada Sees Inflation Jump the Most Since 2003
Spurred by gasoline, Canada’s CPI jumped 3.7 YOY.Comments »
Jim Rogers Expects Possible food Shortages in the Future
Global supply has dwindled while agricultural methods have failed to produce the amount of food needed to feed the world.Comments »
Flash: S&P Futures Surge Ahead of Greek Austerity Vote
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 »
Bj Wholesale Going Private
Private equity firms, Leonard Green and CVC acquired the company for $51.25.
Ticker BJ.Comments »
Federal Limousine Fleet Up 73% Under Obama
The Federal limousine fleet has risen by 73% under the green and frugal Obama administration, over the past two years.Comments »
Fun With the TSA
Cover up yo. Wear a lead suit….Comments »
Help Me Doctor…. “It Burns”
Crazy times yo….Comments »
Swiss Bankers Request To Be Free From U.S. Prosecution in Tax Shelter Talks
Sources say talks are at an impasse currently. As usual the terms are suffer no legal consequences and give us the money.Comments »
BAC Reported to Be Close to Cutting a $8.5 Billion Settlement Check For Mortgage Investors…Stock Pops in A.H.
Full details are expected to be announced tomorrow.Comments »
Flash: Moody’s Revised Outlook on Connecticut to Negative
Affirmed Aa2 rating.Comments »
Rebuttal: Needman Says Muddy Waters Offers “Nothing New” on SPRD
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.