Monthly Archives: October 2011
FLASH: RAJ RAJ GOING TO A FEDERAL POUND ME IN THE ASS PRISON
Raj Rajaratnam, the face of the biggest trading scandal in a generation, was sentenced Thursday to 11 years in prison, one of the longest ever sentences handed down for an insider case.
Prosecutors had sought a sentence of 19 years and seven months to 24 years and five months behind bars for the former hedge fund titan. Rajaratnam’s lawyers — citing health problems, among other factors — had been urging the judge to consider a much more lenient sentencing range of six-and-a-half years to eight years and one month.
“His crimes and the scope of his crimes reflect a virus in our business culture that needs to be eradicated,” US District Judge Richard Holwell said in imposing sentence. The judge also ordered Rajaratnam to pay a $10 million fine.
Comments »Tech Stocks Bucking the Downtrend
No. Ticker % Change Market Cap Sector
1 CLWR 16.92 323,050,000 TECHNOLOGY
2 SINA 12.19 5,150,000,000 TECHNOLOGY
3 FCS 7.52 1,560,000,000 TECHNOLOGY
4 RMBS 6.89 1,720,000,000 TECHNOLOGY
5 AKAM 6.72 4,310,000,000 TECHNOLOGY
6 AOL 6.54 1,410,000,000 TECHNOLOGY
7 TQNT 5.56 977,150,000 TECHNOLOGY
8 COOL 5.47 106,460,000 TECHNOLOGY
9 S 5.25 7,700,000,000 TECHNOLOGY
10 NVDA 4.24 8,820,000,000 TECHNOLOGY
11 STX 4.11 4,690,000,000 TECHNOLOGY
12 QTM 3.52 526,410,000 TECHNOLOGY
13 SNDK 3.42 10,630,000,000 TECHNOLOGY
14 ALU 3.32 6,480,000,000 TECHNOLOGY
15 MU 3.17 5,160,000,000 TECHNOLOGY
16 ONNN 3.10 3,320,000,000 TECHNOLOGY
17 WDC 2.98 6,420,000,000 TECHNOLOGY
18 IL 2.87 412,310,000 TECHNOLOGY
19 IRF 2.77 1,490,000,000 TECHNOLOGY
20 ATML 2.66 4,380,000,000 TECHNOLOGY
21 NUAN 2.64 6,840,000,000 TECHNOLOGY
22 RFMD 2.62 1,900,000,000 TECHNOLOGY
23 RAX 2.61 4,890,000,000 TECHNOLOGY
24 TSRA 2.57 699,000,000 TECHNOLOGY
25 CHKP 2.56 11,630,000,000 TECHNOLOGY
26 CY 2.55 2,730,000,000 TECHNOLOGY
27 MXIM 2.54 7,180,000,000 TECHNOLOGY
28 ENER 2.52 26,750,000 TECHNOLOGY
29 LSI 2.46 3,270,000,000 TECHNOLOGY
30 INVE 2.44 117,940,000 TECHNOLOGY
31 TSL 2.38 502,070,000 TECHNOLOGY
32 MOTR 2.27 79,670,000 TECHNOLOGY
33 MRGE 2.24 599,730,000 TECHNOLOGY
34 BRCM 2.21 19,360,000,000 TECHNOLOGY
35 P 2.19 2,300,000,000 TECHNOLOGY
36 RNOW 2.12 1,220,000,000 TECHNOLOGY
37 FTWR 2.08 44,590,000 TECHNOLOGY
38 ATVI 2.08 14,570,000,000 TECHNOLOGY
39 BMC 1.91 6,430,000,000 TECHNOLOGY
40 SIMG 1.90 511,830,000 TECHNOLOGY
41 EMKR 1.85 100,420,000 TECHNOLOGY
42 SPIL 1.84 3,060,000,000 TECHNOLOGY
43 SOHU 1.77 2,190,000,000 TECHNOLOGY
44 QLIK 1.74 2,050,000,000 TECHNOLOGY
45 FTNT 1.58 2,710,000,000 TECHNOLOGY
46 TXN 1.58 34,310,000,000 TECHNOLOGY
47 LLTC 1.52 6,890,000,000 TECHNOLOGY
48 WBMD 1.51 1,750,000,000 TECHNOLOGY
49 MDRX 1.50 3,540,000,000 TECHNOLOGY
50 AMSC 1.49 203,820,000 TECHNOLOGY
Large Cap Banks Are Getting Crushed Today
Here are the top 25 large cap losers today. Financials are leading the way lower.
No. Ticker % Change Market Cap
1 BCS -6.74 34,980,000,000
2 FBR -6.67 7,050,000,000
3 LNC -6.34 5,350,000,000
4 MGA -6.29 9,280,000,000
5 DB -6.24 36,810,000,000
6 LYG -6.19 47,990,000,000
7 JPM -5.96 129,450,000,000
8 TAC -5.87 5,090,000,000
9 SID -5.83 12,760,000,000
10 C -5.82 85,200,000,000
11 BAC -5.70 66,680,000,000
12 BX -5.51 6,830,000,000
13 MS -5.30 30,540,000,000
14 AIG -5.30 45,100,000,000
15 ACH -5.27 7,290,000,000
16 BAK -5.17 6,870,000,000
17 KEY -5.03 6,440,000,000
18 ASX -5.03 6,050,000,000
19 AEG -5.02 9,370,000,000
20 AMP -5.01 10,130,000,000
21 ZNH -4.87 292,470,000,000
22 DFS -4.76 13,980,000,000
23 SLW -4.61 11,580,000,000
24 NFX -4.55 5,610,000,000
25 COF -4.51 19,800,000,000
FLASH: Italian 10 Year Bonds Above 5.8%
CNBC is not reporting on this, but Italian 10 yr bonds are now at crisis levels, above 5.8%.
Comments »Lunch Break: You Can Hold It
Fitch Downgrades RBS and Lloyds
Slovakia Parliament Members Approve EFSF Bailout Fund; Market Fails to Rally Off the News
Rock Star Hedge Funds Find Their Profits Crushed Amid Commodity Sell Off
EU May Allow Banks Six Months To Raise Capital
Now that it has come out that the ECB would prefer private capital raises and asset sales for banks to re-liquefy they have also stated that they may give up to 6 months for the banks to do so.
The ECB has no sense of time management.
Comments »eBay, $EBAY, and Facebook Join Forces to Boost Social Commerce
Recognizing change on how consumers make purchases eBay has teamed up with Facebook to capitalize on a new frontier in sales….
Comments »China Stockpiles of Copper Appear to Be Double Estimates
Uni Credit Halted for Volatility; Down 7.8%
John Malone, Cable Pioneer Tycoon, Becomes The Largest Land Owner in America
#OCCUPYWALLSTREET: Holy Shit, Warren Buffett’s Son is an Idiot
Upgrades and Downgrades This Morning
Upgrades
PDS – Precision Drilling initiated with a Accumulate at Global Hunter Securities
JCI – Johnson Controls resumed with a Buy at Needham
CSCO – Cisco Systems target raised to $20 at Oppenheimer
JOYG – Joy Global upgraded to Outperform from Market Perform at William Blair
AEO – American Eagle target raised to $15 at Oppenheimer
ONXX – Onyx Pharma upgraded to Outperform from Market Perform at BMO Capital
AMX – America Movil SA initiated with an Overweight at Barclays
AWI – Armstrong World Industries initiated with an Overweight at Barclays
WSM – Williams-Sonoma upgraded to Buy from Hold at BB&T
ITRI – Itron upgraded to Outperform from Sector Perform at Pacific Crest
NTES – Netease.com upgraded to Overweight from Neutral at Piper Jaffray
KR – Kroger downgraded to Hold from Buy at Jefferies
DKS – Dick’s Sporting Goods upgraded to Buy from Hold at ThinkEquity
FCX – Freeport-McMoRan initiated with a Buy at BB&T
RAX – Rackspace upgraded to Buy from Neutral at Goldman
Downgrades
UNM – Unum Group upgraded to Outperform from Mkt Perform at Raymond James
VOLC – Volcano initiated with a Neutral at Goldman
BX – Blackstone removed from Top Picks Live list at Citigroup
ADS – Alliance Data downgraded to Neutral from Buy at Suntrust
GR – Goodrich downgraded to Sector Perform from Outperform at RBC Capital
AMG – Affiliated Managers downgraded to Underperform from Neutral at Macquarie
CCO – Clear Channel Outdoor downgraded to Average at Caris
LM – Legg Mason downgraded to Neutral from Outperform at Macquarie
TV – Grupo Televisa initiated with an Underweight at Barclays
PRI – Primerica downgraded to Mkt Perform from Outperform at Raymond James
Comments »Gapping Up and Down This Morning
Gapping up
VRTX +4.4%, AKAM +4%, SBH +3.2%, ALU +3.5%, BRCM +0.9%, CYTK +9.8%,AOL +2.7%, RAX +1.7%, AVP +1%,
EK +8.1%, AONE +2.9%,
Gapping down
MET -0.8%, UFPI -4.1%, KR -2.2%, ADS -1.5%, SNH -3.3%, UBS -2.4%, DB -1.9%, HBC -1.7%, RIO -1.6%, SLV –
1.5%, BP -1.3%, USAT -15.6%, AZN -1.4%, NVS -0.8%, BBL -2%, MT -2%, FCX -1.8%, EGO -1.7%, RIO -1.6%,
SDRL -1.7%, HAL -1.6%, OXY -1.5%, SD -1.4%, LYG -5.3%, BCS -3.6%, BBVA -2.9%, C -2.7%, SMSI -15.9%, FCS –
7.7%, UFPI -4.1%, JPM -1.2%, OZRK -0.7%,
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