Gapping Up and Down This Morning

Gapping up

AVII +3.2%, GG +1.7%, PPDI +4.7%, HSFT +8.9%, VRSK +6.2%, FRX +5.2%, VCI +4.6%, DG +4.2%, AUY +1.1%, SWSH +14.8%, NLST +14.7%, CDII +10.4%,

Gapping down

RIO -2.9%, TOT -2.9%, BCS -2.7%,  DB -3.4%, BHP -3.2%, BP -3%, URBN -6.9%, MT -3.9%, SDRL -3.7%,  RDS.A -2.4%, UBS -2.4%, A -1.7%,BBL -3.4%,

In Play

On the Wires

Building permits: Prior 624k, Mkt Expects 606k, Actual 597k

The company guided higher

All eyes on Merkel and Sarkozy. We should get some feed  back around 10 am.

From Barry Ritholtz @ The Big Picture

Here at home it is an ailing infrastructure

In Europe it is market turmoil

Most analyst expect strong statements, but no material commitments.

Full article

“The insurer, based in Northbrook, Illinois, has filed similar suits against JPMorgan Chase & Co. over $700 million of mortgage-backed securities the bank sold the insurer; Credit Suisse Group AG (CSGN) units for more than $231 million of the securities; Bank of America Corp.’s Merrill Lynch unit over some $167 million; Citigroup Inc. (C), over more than $200 million; andDeutsche Bank AG (DBK), over about $185 million. Allstate said the banks misrepresented underwriting standards, owner occupancy data and loan-to-value ratios.”

Full article

Revenues beat by a smidgen and full year guidance was raised to $2.34 from $2.30

Gold is trading $1781 up $23

Oil is down $0.79 @ $87.08

If no man breasts exist upon the short seller then bamboo is being shoved under finger and toenails.

Korea is up 4.83%

Just in Time for EUQE and possibly our own QE3

Why would you leave your pregnant super model on the beach for Merkel. Oh right the fate of the EU. Well European markets are selling off so the pressure is on to make a deal.

Sorry no names have been revealed, but according to Buffet a person has been chosen with a back up pool of candidates.

Full article

Germany has crated in growth throwing off the rest of the EU….scratch that Germany was the EU growth engine.

Full article

216 tonnes of oil has leaked. The oil was leaking from a pipeline at a rate of 5 million barrels per day. Now that the pipeline has been shut down the rate has dropped to 2 million barrels per day.

Full article

“Google’s proposed $12.5 billion acquisition would leave RIM a smaller player relative to rivals, which may force it to strike an alliance with another company or sell itself to remain competitive”…Click for full story.

Long $GOOG

___________________

“In America, the men need printing presses to feel like a man. Me? I’m a simple country boy. Dr. Bernanke ruined my country, but he’ll never touch my bow tie. Care to see my latest interview on CNBC Europe back in my hotel room?”

German Chancellor Angela Merkel and French President Nicolas Sarkozy may wind up their Tuesday meeting with a list of accomplishments as empty as the streets of Paris in August.

FULL STORY HERE