He thinks the price target will be easy to hit….
Comments »Monthly Archives: July 2011
Western Union buys Travelex
Comments »NEW YORK (AP) — The Western Union Co. said Tuesday it has agreed to acquire Travelex Global Business Payments for about $973.8 million in cash, in a deal that will allow it to expand rapidly in the business of international payment processing.
The Travelex division provides international payments services to business clients, mostly small and medium-sized companies and distribution partners.
Western Union is paying 606 million pounds for the Travelex business. It is expected to boost Western Union’s earnings by 2 cents per share this year and 4 cents per share in 2012. The company expects acquisition related noncash amortization expenses of about $40 million per year beginning in 2012.
The acquisition is expected to close later this year.
July 5 S&P ratings actions
General Dynamics Corp.’s Proposed Notes Rated ‘A’ 05-Jul-2011
13:04 EST
Caddo Parish Industrial Development Board, La. Bonds Series 2003 (Sealy Industrial) Rating Raised To ‘AAA/A-1+’ 05-Jul-2011
12:38 EST
S&P Corrects Eight Ratings From Two U.S. RMBS Transactions 05-Jul-2011
12:35 EST
Lincoln Consolidated School District, MI Outlook Revised To Negative On Weak Finances; ‘A-‘ ICR Affirmed 05-Jul-2011
11:52 EST
Ratings Raised On U.K. CMBS Transaction Windermere VIII’s Class A2 To C Notes Following Prepayments 05-Jul-2011
11:41 EST
Nara Cable Funding €300 Mil. Senior Secured Notes Assigned ‘B’ Issue Rating 05-Jul-2011
11:36 EST
Devon Energy Corp.’s Senior Unsecured Proposed Five-, 10-, and 30-Year Notes Rated ‘BBB+’ 05-Jul-2011
11:29 EST
Insurer Swiss Life Outlook Revised To Positive On Successful Steps Toward Strategic Change; ‘BBB+’ Ratings Affirmed 05-Jul-2011
11:26 EST
African Export-Import Bank’s Euro Medium-Term Note Program Assigned ‘BBB-/A-3’ Ratings 05-Jul-2011
11:23 EST
Ratings Assigned To Norwegian ABS Transaction SCL2’s Notes 05-Jul-2011
11:16 EST
Various Rating Actions Taken In Cash Flow CDO Of ABS Transaction ZOO ABS II 05-Jul-2011
10:54 EST
Arizona City Fire District’s Series 2007 GO Bonds Rating Raised To ‘A-‘ On Sustained Growth In Financial Position 05-Jul-2011
10:32 EST
Spanish Bank Kutxa ‘A’ Long-Term Rating On Watch Developing, ‘A-1’ Short-Term Rating On Watch Neg After Merger Agreement 05-Jul-2011
09:07 EST
Russian Government Nanotechnology Investment Vehicle RusNano Affirmed At ‘BB+/B’ And ‘ruAA+’; Outlook Stable 05-Jul-2011
05:11 EST
BNP Paribas Securities Services Assigned ‘AA/A-1+’ Ratings, Reflecting Ratings On Parent; Outlook Negative 05-Jul-2011
04:12 EST
CLP Power Hong Kong Ltd.’s Proposed U.S. Dollar-Denominated Notes Rated ‘A’ 05-Jul-2011
02:45 EST
S&P Corrects Issue Rating Information On Chi Mei Corp. And Shin Kong Financial Holding Co. Ltd. 05-Jul-2011
02:27 EST
Powerlong Real Estate Holdings Ltd.’B+’ Rating Affirmed, Outstanding Notes Lowered To ‘B’ From ‘B+’; Outlook Stable 05-Jul-2011
01:16 EST
JHF’s ¥131.9 Billion Series 50 Structured Issuance Assigned ‘AAA (sf)’ Rating 05-Jul-2011
01:07 EST
Transpower New Zealand Ratings Affirmed On Announced Revised Dividend Policy; Standalone Credit Profile Weaker 05-Jul-2011
01:06 EST
Ratings On RESIMAC Premier Euro 2006-1E Notes Placed On CreditWatch Negative 05-Jul-2011
00:46 EST
Preliminary Ratings Assigned To HBS Trust 2011-1 Prime RMBS 05-Jul-2011
00:35 EST
Ratings On Classes L-2 And A Of OTB Housing Loan Trust Certificates No. 1 Affirmed At ‘AAA (sf)’ 05-Jul-2011
00:22 EST
Preliminary Ratings Assigned To IMPALA Trust No. 1 – Sub Series 2011-1 Asset-Backed Securities 05-Jul-2011
00:18 EST
Ratings On OTB Housing Loan Trust Certificates No. 6 Affirmed At ‘AAA (sf)’ 05-Jul-2011
00:17 EST
Rating On Mezzanine Class Of OTB Housing Loan Trust Certificates No. 5 Raised; Seven Classes Of Nos. 2 To 5 Affirmed 05-Jul-2011
00:15 EST
Today’s Biggest Winners
No. Ticker % Change
1 BLUD 30.25
2 AMN 27.42
3 RXII 19.63
4 JVA 15.71
5 BQI 12.40
6 REDF 12.39
7 NOAH 12.18
8 INO 11.28
9 KIPS 11.01
10 ZLCS 10.73
11 SVM 10.56
12 CNTF 10.05
13 MGH 10.00
14 NG 9.92
15 AXAS 9.81
16 FENG 9.73
17 OSBC 9.57
18 EXK 9.51
19 ZAGG 9.49
20 ALTI 9.30
21 BORN 9.14
22 TZOO 8.81
23 DRL 8.65
24 ATRN 8.54
25 GENE 8.49
Tobias Levkovitch: A 97% Chance of a Rally
Really. Tobias has a model that suggests while reaching panic territory recently the market is going to rally.
Richard Russell: ” I don’t like the values “
Bull market in full swing, but Russell does not see the evaluation as a compelling reason to buy stocks…
Comments »Jim Rogers: China Bears Have it Wrong
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Chinafotopress | Getty Images
Jim Rogers during a visit to Wenzhou, Zhejiang Province of China. Rogers says he’s long Chinese stocks and the currency even though he thinks the property sector may be in a bubble.
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“Those guys have been dead wrong for two years. Chanos said two years ago he was shorting China and it’s going to collapse,”
Comments »
May Factory Orders: Prior -1.2%, Mkt Expects +1%, Actual 0.8%
Upgrades and Downgrades This Morning
Upgrades
GOOG – Google upgraded to Overweight from Equal Weight at Evercore
QCOM – Qualcomm target raised to $65 at Sterne Agee
CHKP – Check Point Software target raised to $63 at Oppenheimer
HXL – Hexcel target raised to $30 from $25 at Stifel Nicolaus
EMR – Emerson upgraded to Outperform at Bernstein
NYT – New York Times upgraded to Neutral at UBS
FSL – Freescale Semi initiated with an Outperform at Bernstein
EE – El Paso Electric upgraded to Buy from Neutral at Goldman
LTC – LTC Properties initiated with a Outperform at RBC Capital Mkts
SAVE – Spirit Airlines initiated with a Buy at Citigroup
DRI – Darden Restaurants target raised to $59 from $57 at RBC Capital Mkts
FARO – FARO Techs target raised to $50 from $47 at Needham
MTW – Manitowoc upgraded to Buy from Neutral at Sterne Agee
ACTV – Active Network initiated with a Outperform at RBC Capital Mkts
CLWR – Clearwire upgraded to Outperform from Neutral at Credit Suisse
Downgrades
SAI – SAIC downgraded to Negative from Neutral at Susquehana
AUO – AU Optronics downgraded to Neutral from Buy at Goldman
COG – Cabot Oil & Gas removed from Conviction Buy List at Goldman
PEGA – Pegasystems initiated with a Neutral at Collins Stewart
BBBB – Blackboard downgraded to Neutral at JPMorgan
POR – Portland Gen Elec downgraded to Neutral from Buy at Goldman
MTB – M&T Bank initiated with a Neutral at Rochedale
IMAX – IMAX ests revised downward at Stifel Nicolaus
THS – TreeHouse Foods downgraded to Neutral from Buy at Janney
RGC – Regal Entertainment downgraded to Sell from Neutral at Janney Montgomery Scott
MDT – Medtronic downgraded to Market Perform from Outperform at Wells Fargo
Comments »Gapping Up and Down This Morning
Gapping Up
INO +11.5%, RIO +1.6%, AU +1.3%, BIDU +2.4%, AG +1.9%, CLWR +8.1%, GLD +1%, IAG +0.9%, GOLD +0.5, ALU +2%, RIO +1.6%, RDS.A +1.5%, GOOG +1.1%, AEM +1.9%, SNDK +2.8%, EGO +1.9%,RCL +1%, KKR +8.6%, AUY +3.3%, ABX +2.3%, INO +8.2%, SLV +2.2%, DEO +2.6%, HL +2.0%,
Gapping Down
AIXG -4.6%, MT -0.7%, JOE -3.2%, BBVA -2.7%,DB -1.3%, CS -1.3%, UBS -1%,
In Play and On the Wires
CPI Rises in OECD Countries at the Fastest Pace in May
Rising Waters Hurt XOM’s Oil Cleanup in the Yellow Stone River
I’ve heard two reports on the tv that only a 1000 gallons have spilled. This article says tens of thousands of gallons.
Also XOM was warned of this problem in the past…..
Comments »New Study Shows Pfizer’s Chantix Increases Heart Risks
Trials show middle age men have a 72% higher risk of heart attack and other heart related problems.
Comments »Eurozone Growth Continues to Slow
U.S. Futures Indicate a Unch Open
Trichet Dumps Greek Bond Fate onto Bond Rating Agencies
European Markets Pare Gains
A rally was underway at the open, but then the Moody’s report on Chinese banks halted the rally.
Comments »The RBA Holds Interest Rates Steady @ 4.75% as Expected
Growth is slower than expected and key inflation rates are expected to be in line over the next year. The Aussie dollar felll against most currencies on the news.
Comments »Corn and Wheat Rise on Higher Export Expectations
Expectations are mostly correct given some numbers that came out last week on U.S. export #’s
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