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Monthly Archives: November 2011

Flash: Obama Gets Subpeonaed

Showing a growing frustration with the the Obama administration, congressional Republicans on Thursday authorized their second subpoena this week, demanding White House documents related to failed solar technology company Solyndra.

By a 14-9 party-line vote the Energy and Commerce Committee’s investigative subcommittee authorized issuing a subpoena for any White House documents related to Solyndra, which received renewable energy loan guarantees under President Obama’s stimulus program. The request for documents could include details of the president’s own travel and communications.

Democrats said it was “unprecedented” to subpoena documents from the president’s executive office like this, but Republicans said they’ve run out of patience with White House “stalling.”

“We simply cannot allow the executive branch at its highest levels to pick and choose what they will produce, or whether they will produce anything at all,” said Rep. Cliff Stearns, the Florida Republican who runs the investigative panel.

Thursday’s subpoena came just a day after the Judiciary Committee’s immigration subcommittee voted along party lines to authorize a subpoena for Homeland Security records related to illegal immigrants the department has declined to pursue deportation cases against.

**FILE** An auction sign is shown outside the Fremont, Calif., headquarters for bankrupt solar company Solyndra headquarters on Oct. 31, 2011, before the auction on the following day. Solyndra received a $500 million loan guarantee from the government before filing for bankruptcy in September. (Associated Press)**FILE** An auction sign is shown outside the Fremont, Calif., headquarters for bankrupt solar company Solyndra headquarters on Oct. 31, 2011, before the auction on the following day. Solyndra received a $500 million loan guarantee from the government before filing for bankruptcy in September. (Associated Press)

Together they mark an escalation as Republicans have become increasingly aggressive in pushing back against what they see as administration stonewalling of oversight by the new GOPmajority in the House.

In each case, the vote only authorizes a subpoena. It’s up to the chairmen of the full committees to actually issue them.

Democrats said both votes were premature. They pointed to ongoing discussions between Homeland Security and the Judiciary Committee on the one hand, and between theWhite House and the Energy and Commerce Committee on the other, as evidence the administration is acting in good faith.

“The White House repeatedly said they had turned over documents and they were willing to turn over more documents,” said Rep. Diana DeGette, the ranking Democrat on the investigations panel.

She also said the administration has already turned over tens of thousands of documents.

Each side now argues the other is acting in bad faith.

Republicans point to a lengthy effort to get documents, and said it is only when the committee begins to threaten subpoenas that things shake loose.

Rep. Fred Upton, Michigan Republican and chairman of the full committee, said several new boxes of documents were released to the press Wednesday night even before they were turned over to thecommittee. Those documents reportedly show the Obama administration mulled bailing Solyndra out just days before the solar panel manufacturer collapsed.

Democrats said they support legitimate requests for information and back the House’s right to investigate the administration. But they said the request for all potential Solyndra communications was a broad fishing expedition, and accused the GOP of short-circuiting usual negotiations.

“Apparently what the committee really wants is a confrontation with the president,” said Rep. Henry A. Waxman, the top Democrat on the full Energy and Commerce Committee.

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Money Flows

MONEY FLOW - UPTICK/DOWNTICK TRADING DOLLAR VOLUME Nov 03,2011 11:05 AM 

       MARKET                    MONEY FLOW (in millions)    RATIO 
                                    TODAY     PREV DAY 
       DJIA                          -75.7       -444.3       0.92 
         Blocks                      -74.9       -371.0       0.55 
       Russell 2000                  +39.9       +156.4       1.03 
         Blocks                       +9.9       +298.0       1.09 
       S & P 500                     -65.7       +133.0       0.99 
         Blocks                      -66.7        +53.9       0.91 
       DJ U.S. Total Stock Market    +39.9       +245.3       1.00 
         Blocks                      +24.4       +241.6       1.02 

ISSUE GAINERS                 SYMBOL   EXCH   LAST PRICE   MONEY FLOW    RATIO 
                                                          (in millions) 
Enduro Royalty Trust           NDRO    NYSE       21.27       +32.1       2.62 
NewsCorp A                     NWSA    NASD       16.89       +30.9       1.86 
BHP Billiton                   BHP     NYSE       78.15       +19.7       1.61 
Apple                          AAPL    NASD      397.13       +17.3       1.03 
Google                         GOOG    NASD      587.92       +17.3       1.14 
Medivation                     MDVN    NASD       35.64       +15.3       1.35 
Yandex                         YNDX    NASD       26.38       +15.3       5.13 
MercadoLibre                   MELI    NASD       85.34       +11.7       1.17 
iShr FTSE China 25             FXI     ARCA       37.58        +9.1       1.39 
Kraft Foods                    KFT     NYSE       35.85        +8.5       1.25 
iShrs MSCI Taiwan              EWT     ARCA       12.98        +8.5       2.42 
Ralph Lauren Cl A              RL      NYSE      154.79        +8.2       1.15 
Ford Motor                     F       NYSE       11.20        +7.9       1.38 
Procter & Gamble               PG      NYSE       62.95        +7.8       1.41 
ENSCO                          ESV     NYSE       51.02        +7.4       1.41 
DirecTV Group Inc              DTV     NASD       47.44        +7.3       1.26 
Mastercard                     MA      NYSE      358.60        +7.2       1.21 
Schlumberger                   SLB     NYSE       74.32        +7.0       1.12 
SPDR DJIA Tr                   DIA     ARCA      119.05        +6.6       1.10 
eBay                           EBAY    NASD       32.37        +6.5       1.65 

ISSUE DECLINERS               SYMBOL   EXCH   LAST PRICE   MONEY FLOW    RATIO 
                                                          (in millions) 
Qualcomm                       QCOM    NASD       55.68       -44.5       0.83 
Akamai Tech                    AKAM    NASD       28.90       -25.4       0.42 
ML Retail HOLDRS Tr 12/41      RTH     ARCA      109.51       -25.4       0.14 
Intel                          INTC    NASD       23.68       -23.1       0.65 
Teekay LNG Ptnrs un            TGP     NYSE       32.92       -17.7       0.34 
Netflix                        NFLX    NASD       84.09       -17.4       0.77 
SPDR S&P 500                   SPY     ARCA      124.71       -16.6       0.99 
Microsoft                      MSFT    NASD       26.24       -16.2       0.74 
Lender Pros Svs                LPS     NYSE       17.37       -14.9       0.16 
ExxonMobil                     XOM     NYSE       77.97       -14.7       0.77 
Caterpillar                    CAT     NYSE       95.05       -12.1       0.86 
Transocean                     RIG     NYSE       49.58       -11.7       0.88 
iShrs Russell 2000             IWM     ARCA       73.65       -11.2       0.94 
Abercrombie & Fitch            ANF     NYSE       58.53       -10.9       0.91 
iShs Brclys Shrt Treas Bd      SHV     ARCA      110.22       -10.3       0.16 
Pfizer                         PFE     NYSE       19.66       -10.0       0.58 
Chevron                        CVX     NYSE      105.67        -9.8       0.83 
Oracle                         ORCL    NASD       32.47        -9.6       0.70 
SPDR S&P Retail                XRT     ARCA       52.36        -9.5       0.82 
Citigroup                      C       NYSE       30.07        -9.1       0.92

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New Highs and Lows

Big Board

New Highs 28 

COMPANY                       SYMBOL      HIGH                VOLUME 
-------                       ------      ----                ------ 
Alliance Data Sys             ADS         107.18             161,859 
Bankrate                      RATE        20.99               86,701 
Cabot Oil & Gas               COG         83.10              553,857 
Estee Lauder                  EL          120.34           2,052,456 
FTI Consulting                FCN         42.67              422,367 
Fair Isaac                    FICO        32.38              512,066 
Fusion-io                     FIO         37.25            1,642,471 
GNC Holdings A                GNC         27.13              903,429 
Generac Holdings              GNRC        24.50               62,285 
WW Grainger                   GWW         178.14             124,886 
Hornbeck Offshore             HOS         34.80              507,103 
Invesco CA Qty Tr             IQC         13.14                3,342 
Lions Gate Entertainment      LGF         8.63               221,520 
NeuStar A                     NSR         33.46              409,480 
Nu Skin Enterprises           NUS         51.32              301,480 
Nuveen CA Div Fnd             NAC         13.92                4,637 
Nuveen CA Muni Mkt            NCO         14.12                2,024 
Nuveen CA Performance         NCP         14.50                5,453 
Nuveen California Select      NVC         14.93                9,367 
PPL Corp                      PPL         30.11            1,347,739 
PVH Corp.                     PVH         76.04              884,906 
PharMerica                    PMC         15.84               53,976 
SandRidge Permian Trust       PER         19.98              147,702 
SummitHotelPropInc.9.25%      INNpA       24.80                3,100 
Tesoro Logistics LP           TLLP        27.00               29,800 
Universal American            UAM         11.95               96,892 
WNS Hldgs ADS                 WNS         13.05                2,001 
Western Asset Income Fd       PAI         13.86                7,472 

New Lows 12 

COMPANY                       SYMBOL      LOW                 VOLUME 
-------                       ------      ----                ------ 
Amer Greetings A              AM          15.25              112,311 
DHT Holdings                  DHT         1.47               203,475 
Dover Motorsports             DVD         0.84                27,859 
Furniture Brands              FBN         1.41             1,205,949 
Genie Energy                  GNE         7.61                57,373 
Geo Group                     GEO         17.14              131,452 
GuggenheimEqWtEnhEqIncm       GEQ         17.65               44,910 
Jefferies Grp                 JEF         9.79            18,520,183 
NeoPhotonics                  NPTN        4.90                25,168 
Sony Corp ADS                 SNE         17.80              911,386 
Toyota Motor                  TM          64.51              216,433 
YPF SA                        YPF         31.00              391,186 

 NASDAQ
New Highs 20 

COMPANY                       SYMBOL      HIGH                VOLUME 
-------                       ------      ----                ------ 
Ansys                         ANSS        57.75              261,682 
Advisory Board                ABCO        70.00              191,381 
Altisource Ptfl Sol SA        ASPS        42.75               24,126 
AmTr Fincl Svcs               AFSI        26.61               71,077 
Commercial National Fincl     CNAF        22.70                1,930 
Crescent Fincl                CRFN        4.28                   100 
Fastenal Co                   FAST        39.63            1,372,277 
Franklin Electric Co          FELE        51.97               43,808 
HSN Inc                       HSNI        37.92              101,010 
HealthStream                  HSTM        15.88               25,932 
Medivation                    MDVN        38.48            5,690,602 
RTI Biologics                 RTIX        4.73               229,152 
Rex Energy                    REXX        17.01              545,238 
Seattle Genetics              SGEN        22.40              473,063 
Silicon Motion Tech (ADS)     SIMO        19.65              866,258 
Sonesta Intl Htls  (Cl A)     SNSTA       30.90                9,212 
Spectrum Pharmaceuticals      SPPI        11.74              426,635 
TASER Intl                    TASR        5.25               106,866 
Ultimate Software Group       ULTI        61.99               81,052 
Verisk Analytics Inc          VRSK        36.39              532,762 

New Lows 33 

COMPANY                       SYMBOL      LOW                 VOLUME 
-------                       ------      ----                ------ 
Advanced Analogic Tech        AATI        3.25             1,296,309 
Ambassadors Grp               EPAX        4.45               157,932 
Amedisys                      AMED        9.12               325,629 
Amyris                        AMRS        14.23              127,376 
ArthroCare Corp               ARTC        26.27              125,565 
AutoNavi Holdings Ltd ADS     AMAP        11.56               18,153 
Avid Technology               AVID        5.76               284,924 
Bon-Ton Stores                BONT        3.88               481,672 
Career Education              CECO        7.17             6,598,690 
Cbeyond                       CBEY        6.12               261,820 
Central European Distr        CEDC        4.58               909,219 
Citizens First                CZFC        6.02                   100 
Concurrent Computer           CCUR        3.41                40,417 
Dendreon                      DNDN        6.56            16,768,069 
DexCom                        DXCM        7.33             1,446,230 
Digital River                 DRIV        17.34              151,069 
GeoEye                        GEOY        25.35              145,970 
Globus Maritime               GLBS        3.92                19,438 
Human Genome Sciences         HGSI        9.46             2,414,937 
Insignia Sys                  ISIG        1.78                11,300 
K-Swiss  (Cl A)               KSWS        3.11             1,334,285 
NuVasive                      NUVA        13.54              497,762 
Pinnacle Airlines             PNCL        2.42                20,750 
Radisys                       RSYS        5.14                33,033 
Research in Motion            RIMM        18.13           10,745,208 
RRSat Global Comm Network     RRST        4.77                   600 
Sangamo BioSciences           SGMO        2.95               177,436 
Savient Pharmaceuticals       SVNT        3.31               872,689 
SemiLEDS                      LEDS        2.85                12,100 
Sequenom                      SQNM        4.31               705,464 
Sierra Wireless               SWIR        6.04               426,510 
Torm A/S                      TRMD        1.08                15,150 
WebMD Health                  WBMD        25.56            3,566,542

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Shares of Jefferies Are Volatile Today

Broker dealer and underwriter for MF Global, JEF, were down as much as 20% today and halted for trade twice, before recovering–now down just 7%. Lots of rumors abound.

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