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Monthly Archives: August 2011

Clarification: US Futures Are Not Off That Much

A little confusion around the interwebs tonight. Shocker!

Although S&P futs appear to be down 8.5 right now, they’re really only off by 3.7. Dow futs are really only off by 33 and Naz by 1.

This is all due to fair value.

Google it.

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50 Large Cap Stocks Already in a Bear Market

YTD losses of more than 20% with market caps above $5billion

No. Ticker YTD Return Market Cap
1 RIMM -55.69 13,420,000,000
2 AIG -52.96 40,790,000,000
3 LYG -52.19 41,410,000,000
4 CX -52.10 5,350,000,000
5 ANR -50.87 6,670,000,000
6 LPL -50.59 6,280,000,000
7 RCL -50.23 5,060,000,000
8 BAC -47.30 71,040,000,000
9 CCJ -46.28 8,500,000,000
10 JNPR -46.02 10,620,000,000
11 VE -45.95 7,580,000,000
12 MT -45.93 31,620,000,000
13 FFIV -45.22 5,760,000,000
14 FBR -44.25 7,230,000,000
15 TTM -43.82 10,260,000,000
16 GGB -43.74 13,320,000,000
17 SID -43.51 13,010,000,000
18 CNH -42.56 6,590,000,000
19 SNE -42.06 20,760,000,000
20 DAL -41.35 6,250,000,000
21 NOK -40.95 21,300,000,000
22 STM -40.75 5,430,000,000
23 C -40.71 81,640,000,000
24 IR -40.65 9,200,000,000
25 RF -39.97 5,270,000,000
26 MS -39.89 31,230,000,000
27 STI -39.88 9,420,000,000
28 SPLS -39.63 9,680,000,000
29 PCAR -38.58 12,750,000,000
30 F -38.12 39,440,000,000
31 MTL -38.11 7,530,000,000
32 WIT -37.95 23,160,000,000
33 LUV -37.93 6,460,000,000
34 TKC -37.89 9,350,000,000
35 PHG -37.17 18,750,000,000
36 BCS -36.89 30,650,000,000
37 INFY -36.60 27,360,000,000
38 HST -36.48 7,970,000,000
39 AFL -36.08 16,520,000,000
40 GM -35.95 36,860,000,000
41 NMR -35.58 14,810,000,000
42 CUK -35.57 23,390,000,000
43 NTRS -35.47 8,520,000,000
44 TCK -35.12 23,530,000,000
45 MRVL -35.04 7,320,000,000
46 SCCO -35.01 25,550,000,000
47 NTAP -34.95 13,290,000,000
48 MAR -34.84 9,450,000,000
49 LIFE -34.54 6,550,000,000
50 BK -34.26 24,120,000,000

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CNBC Special: Markets In Turmoil

Bill Gross and all of the fashionable fucktards show up.

[youtube:http://www.youtube.com/watch?v=9VjvLqB0lQ8&feature=channel_video_title 616 500]

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China Loves Us Long Time

(Reuters) – The head of Bank of China, the country’s biggest foreign exchange bank, said on Friday he was concerned about the debt crisis in the United States but expected Washington to deal with the issue.
“We are a little concerned, but we are confident that the U.S. government should be able to solve this problem,” said bank president Li Lihui, when asked whether he was concerned about the stability of the dollar and the U.S. debt situation.
Li told reporters at a business roundtable.

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Verizon Picket Line Shows Up at CEO’s House

Benefits cuts suck, but sometimes they are necessary for a companies well being. Not sure what the case is here, but taking it to the CEO’s house is a bit much for the neighbors. I suppose that is why they have gated communities.

Full article

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Flash: Gold Hits Record High

Gold prices struck record highs on Friday, as skittish investors rushed for the safety of the bullion amid fears of a worsening U.S. economy and lingering euro zone debt crisis sent.
Spot gold struck a record of $1,836.46 an ounce, and was trading up 0.7 percent at $1,836.20 by 0100 GMT (9 p.m. EDT). It was headed for a 5-percent weekly rise.
U.S. gold also climbed to an all-time high at $1,839.8, before trading up about a percent at $1,839.5.
“It’s not surprising in view of more concerns about Europe and terrible data out of the U.S.,” said Darren Heathcote, head of trading at Investec Australia.
“It looks unlikely that gold would fall particularly at the present time given there’s so much uncertainty and nervousness in the markets. Markets will remain skittish and gold supported.”
Latest data showed a sharp drop in the factory activity in the U.S. Mid-Atlantic region and unexpected slump in home resales, fuelling worries that the growth in the world’s largest economy has stalled.
Worries about the health of European banks added to the nervousness in the financial markets, which has driven investors to safe-haven assets such as gold and the dollar.
Holdings in the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, rose by more than 1 percent on the day to a one-week high of 1,286.825 tonnes by August 18.


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Exclusive: News Corp Execs Think James Murdoch May Leave

From Reuters

News Corp’s senior management is starting to think about what the company might do if James Murdoch stepped aside, sources inside and close to the global media empire said.
With Rupert Murdoch’s younger son under increasing pressure from the phone-hacking scandal enveloping the company, News Corp executives want to be prepared if he wants to “take a breather,” one News Corp source said.
“The company is still trying to operate as if James isn’t going anywhere,” said another high-ranking insider. “But everyone is thinking about what will happen if he has to step aside.”
Through a representative, Rupert Murdoch and News Corp senior management said it was “absolutely not true” the company was thinking about the possibility that James may step aside.

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Japanese Stocks Join Rout

SYDNEY (MarketWatch) — Japanese shares fell sharply in early trading on Friday, tracking steep losses recorded in the Europe and U.S. amid renewed fears about global economic growth and the health of the European banking sector. Click here for full story

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Starbucks Pays Out to Dwarf Barista Who Couldn’t See Over Counter

The Starbucks Coffee Company has paid $75,000 to the U.S. Equal Employment Opportunity Commission to settle a lawsuit for unlawfully denying a reasonable accommodation to a woman with dwarfism, according to a press release.The lawsuit was filed by the commission on behalf of Elsa Sallard, who claimed she was fired from her job as a barista because she is a dwarf.According to a press release from the commission, Sallard told employers during a training that she could use a stool or stepladder to do her job.”The manager at the El Paso Starbucks location disregarded Sallard’s request,” the release said. “On the same day that Sallard requested the accommodation, Starbucks terminated her employment, claiming that she would pose a ‘danger’ to customers and employees.”Commission officials said that the settlement not only compensates Sallard, but is an agreement that Starbucks will provide training in compliance with Americans With Disabilities Act.


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