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Comments »Monthly Archives: February 2012
There is No Tech Bubble- The Buzz
John Hussman Cries the Sky is Falling Again
Express Scripts Bid for Medco Health is Facing Opposition
Emerging Emerging Markets in Focus
Obama Turns Up the Pressure on Iran
High Hybird/Volume Movers
Click here to today’s hybrid movers, click here for charts in finviz.
Comments »IRONY: Mark Zuckerberg Would Like IPO Banks to Protect Privacy
via NY POST
Shut your pie hole!
That’s the message that notoriously press-averse Facebook founder Mark Zuckerberg has sent around Wall Street recently, telling Morgan Stanley, JPMorgan Chase, Goldman Sachs and the other banks involved in his company’s $100 billion IPO to stop leaking juicy tidbits to the media and to stop talking up the stock offering to clients, The Post has learned.
Zuckerberg, 27, whose stake in the social network giant amounts, in round figures, to around $28 billion, wasn’t too happy that some aspects of the much-anticipated initial stock float — including the fact that its filing with the Securities and Exchange Commission would take place on Feb. 1 — were disclosed. Facebook officials let the bankers know about it through phone calls and e-mails, sources said.
Facebook officials also appeared to also be irked about what appeared to be subtle sniping in the press between Morgan Stanley and Goldman Sachs centered on which firm would grab the coveted lead underwriting role on the IPO — the highest profile since Google went public with a $1.7 billion offering back 2004.
Zuckerberg’s warning appears to be working.
The powers that be at each bank, sources said, have reacted by warning employees not to discuss the filing.
“[Facebook] wants to be taken seriously and viewed as a blue-ship company,” said one bank official familiar with the listing, but not authorized to speak publicly.
Facebook and its team of underwriters are in a so-called quiet period since filing the paperwork, known as an S-1, with regulators.
Although the Facebook e-mails and calls contained no threats, running afoul of Zuckerberg could result in a bank getting dropped from the IPO. Just two years ago, UBS was dumped from the group of banks handling General Motors’ much-anticipated IPO.
For the banks, the Facebook IPO means more than just the $40 million it could earn from the deal. Indeed, landing the prestigious Facebook offering is likely to have a halo effect that could help a bank land future tech IPOs. Getting booted from the deal can have the same halo effect — in reverse.
At lead underwriter Morgan Stanley, the reaction to Facebook’s warning has been quick and unambiguous. Its private wealth advisers were admonished to stay mum on the upcoming IPO — a difficult task considering clients are clamoring to get in on the action.
The hush-hush mandate comes as the underwriters are gearing up in the coming week or two to hash over — with Zuckerberg, CFO David Ebersman and COO Sheryl Sandberg — the most appropriate valuation for the Menlo Park, Calif., company.
Despite the white-knuckle media frenzy surrounding Facebook, underwriters will be aiming to hit a sweet spot of offering the social media giant’s shares at a level that deep-pocketed institutional investors can wrap their head and their wallets around.
A $100 billion valuation for the IPO would peg Facebook at an eye-popping 100 times its profits of $1 billion in 2011.
Read more: http://trade.cc/ahyb
Afternoon Update
Comments »A lack of positive catalysts have kept the major equity averages chopping along in negative territory all day. Losses are only modest, though.
Without any economic data or corporate reports of major consequence market participants had little to focus on besides Greece’s ongoing struggle to establish and implement austerity measures, as well as covenants with its creditors. Chatter — nothing official — about a pending agreement has helped lift the euro out of the red to a modest gain against the greenback.
For the most part, stocks have shrugged off the headline; too often in recent weeks have such stories proven to be only rumors.
Although all 10 major sectors started the session in the red, energy stocks have been making a steady march higher. In fact, the sector is now at a session high and sporting a 0.5% gain. Every other sector is either mired in negative territory or stuck near the neutral line.
{REAL VIDEO} New York Football Giants Players Sing in Victory on Plane Ride Home
Uploaded by Linebacker Mark Herzlich (@markherzlich)
Comments »Market Update
Comments »Chatter that a deal may have been struck between Greece and its creditors has helped take the euro higher. In fact, the euro is now flat against the greenback after it was down about 0.5% only a couple of hours ago. The stock market hasn’t shown much of a response to that headline, however. That’s likely because market participants have been repeatedly disappointed during recent weeks as just about every report has been hardly more than rumor. The lack of results has frustrated many, and undermined confidence in the country’s ability and willingness to take steps necessary in shoring up fiscal and economic conditions.
Super Bowl XLVI was Top 3 All-Time Watched
Super Bowl XLVI scores third-best Nielsen overnight rating, behind 1987 and 2011 games http://trade.cc/ahxf
- Submitted from
twitter.com/MarketWatch by editor
- via BreakingNews.com
$MGM Grand Renovating to Become a Hot Hotel on Las Vegas Strip
As we announced in an October 2011 article , MGM Grand is undergoing a major renovation project in Las Vegas. New faces will adorn rooms, bathrooms, elevators, hallways, and the central rotunda area.
The hotel has just installed a full – scale mockup of their new standard King rooms in the main lobby for folks to check out. The rooms feature a neutral pallette of beige, brown, and panda color schemes. Other features include 42″ LCD televisions, LEED certified carpeting, Caesarstone motif platforms, and a desk nook table with chairs.
Though the bathroom facelift is not presented in the lobby mockup, baths will feature new hardware, lighting, new door handles and hinges, new paint, shower fixtures, curved curtain rods, and “electric” mirrors.
We phoned the hotel to confirm that some of the new rooms are indeed available for booking. Midweek rates for a two – queenbed room on December 22, 2011 were quoted at $75 per night plus taxes and resort fees ( grand total of $106.40 ). That nightly rate is about $20 more than the quoted going rate ($55) for their old standard rooms. Even though we’re currently right in the middle of the lowest average annual room rate windows for Las Vegas, the mere $20 disparity in old vs new room rates is quite encouraging.
MGM Grand has always been on our favorite Vegas hotel lists for several reasons. The new rooms at very reasonable rates only adds to the property’s Grand appeal. Stay updated on the progressing property – wide renovation by visiting The Grand Renovation website.
Cool…
Cheers…
Charles Higgins
Article info source = Vegas Chatter
Comments »
Obama vs. Reagan (video)
Global Investors Worry Over Global Financial Rules
“The United States is coming to be seen as a global threat, acting unilaterally with aggressive new market rules that critics say will hurt U.S. firms, foreign banks, and international markets in one swoop.
The new buzzword in the financial world is “extraterritoriality”, or ET. The idea that a government can exercise its authority beyond its borders.
The fear is that after the 2007-2009 financial crisis that roiled global markets, some countries will engage in an arms race of tough financial reforms in order to be seen as the safest capital markets, and will haphazardly foist their own rules on other nations.
Despite its talk of a global level playing field, the United States is being portrayed as a rogue country, with its unmatched Volcker rule to curtail banks’ risky trades and its accelerated timetable to put in place new derivatives reforms.”
Comments »Jeremy Grantham: It’s Time to Tax the Rich
“Jeremy Grantham, chief investment strategist at GMO, says it’s time to tax the rich.
“For the time being, in the U.S. our corporate and governmental system backed surprisingly by the Supreme Court has become a plutocracy, designed to prolong, protect and intensify the wealth and influence of those who already have the wealth and influence,” Grantham writes in the Financial Times.
To mitigate this pressure on labor, developed societies could adjust the tax structure, Grantham suggests…”
Comments »Charles Schwab: Fed’s Policy Harming Economy
“CEO Charles Schwab says the Federal Reserve’s prolonged, “emergency” near-zero interest policy is hurting, not helping the economy.
“The Fed policy has resulted in a huge infusion of capital into the system, creating a massive rise in liquidity but negligible movement of that money,” Schwab writes in The Wall Street Journal. “It is sitting there, in banks all across America, unused.”
“The multiplier effect that normally comes with a boost in liquidity remains at rock bottom. Sufficient capital is in the system to spur growth — it simply isn’t being put to work fast enough,” wrote Schwab, the founder and chairman of the Charles Schwab Corp.”
Comments »Heat Map and the S&P A/D Line
Money Flows
ISSUE GAINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO
(in millions)
Vanguard Short-Term Bond BSV ARCA 81.30 +40.2 61.63
Baidu BIDU NASD 132.27 +18.1 1.30
IBM IBM NYSE 192.94 +17.7 1.87
Chevron CVX NYSE 104.88 +12.7 2.27
Morgan Stanley MS NYSE 20.38 +12.5 1.81
Amazoncom AMZN NASD 184.56 +11.7 1.24
Johnson & Johnson JNJ NYSE 65.42 +11.7 2.47
General Electric GE NYSE 19.06 +11.6 2.26
VISA (Cl A) V NYSE 107.25 +11.0 1.96
McDonald's MCD NYSE 99.38 +10.5 2.54
PwrShs DB Com Track DBC ARCA 28.36 +8.8 34.22
Natl Oilwell Varco NOV NYSE 82.73 +7.8 1.65
iShrs MSCI Spain EWP ARCA 31.86 +7.5 28.68
Mastercard MA NYSE 388.80 +7.4 1.29
ConocoPhillips COP NYSE 70.54 +7.3 1.98
Wells Fargo WFC NYSE 30.45 +7.1 1.99
Barrick Gold ABX NYSE 49.31 +6.5 2.17
DuPont DD NYSE 51.53 +6.5 2.26
Intuitive Surgical ISRG NASD 492.23 +6.1 1.44
Verizon Communications VZ NYSE 37.87 +6.1 1.77
ISSUE DECLINERS SYMBOL EXCH LAST PRICE MONEY FLOW RATIO
(in millions)
iShrs Russell 2000 IWM ARCA 82.76 -54.2 0.37
Apple AAPL NASD 461.00 -26.4 0.88
Microsoft MSFT NASD 30.09 -16.9 0.41
AT&T T NYSE 29.78 -13.6 0.39
ExxonMobil XOM NYSE 84.82 -13.4 0.48
Procter & Gamble PG NYSE 63.07 -11.6 0.48
Google GOOG NASD 601.73 -11.5 0.90
Caterpillar CAT NYSE 113.86 -11.4 0.67
Amgen AMGN NASD 67.89 -9.5 0.49
Genuine Parts GPC NYSE 64.37 -8.6 0.09
Merck MRK NYSE 38.30 -8.5 0.33
Wal-Mart Stores WMT NYSE 61.74 -7.6 0.35
Ford Motor F NYSE 12.88 -7.5 0.73
Intel INTC NASD 26.47 -7.4 0.79
Boeing BA NYSE 75.44 -7.3 0.58
CSX CSX NYSE 22.61 -7.0 0.54
General Motors Co GM NYSE 26.53 -7.0 0.70
Broadcom BRCM NASD 37.08 -7.0 0.55
Oracle ORCL NASD 28.99 -6.9 0.38
Goldman Sachs GS NYSE 117.36 -6.8 0.71
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52 Week Highs and Lows
New Highs 54 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ ACCO Brands ABD 11.19 33,830 Acadia Realty Trust AKR 22.24 13,746 Alliance Data Sys ADS 116.12 91,247 Amer Campus Communities ACC 43.92 31,462 Applied Indus Tech AIT 41.33 14,950 Assd Banc-Corp.8.00%Pfd ABWpB 26.20 100 Black Hills Corp BKH 35.20 13,536 BlackRock NJ Municipal Tr BNJ 17.00 867 Bt Group BT 34.18 13,360 Chesapeake Granite Wash CHKR 26.12 70,660 Chipotle Mexican Grill CMG 374.92 97,532 Cobalt Intl Engy CIE 21.80 300,472 Credicorp BAP 119.99 11,124 Donaldson Co DCI 76.63 24,634 Douglas Emmett DEI 21.63 62,479 EastGroup Properties EGP 49.43 21,165 Embotelladora B AKO/B 30.41 4,583 Federal Realty Inv Trust FRT 96.55 9,884 Fst Niagara Finl Pfd B FNFGpB 27.55 2,908 Gazit-Globe GZT 10.24 2,632 Genie Energy GNE 10.82 2,657 InvenSense INVN 18.34 290,160 James Hardie Indus ADS JHX 39.75 365 LTC Properties LTC 32.86 5,985 Las Vegas Sands LVS 52.35 2,006,467 LeapFrog Cl A LF 6.27 175,137 Lithia Motors LAD 25.35 66,800 LyondellBasell Inds LYB 44.84 389,234 Mastercard MA 393.00 223,728 Michael Kors Holdings KORS 33.50 126,840 Molina Hlthcr MOH 32.00 39,712 National Health Investors NHI 51.27 7,219 Nuveen Build Am Bd Opp Fd NBD 22.04 786 Ocwen Fincl OCN 15.21 29,551 Oiltanking Partners LP OILT 31.09 808 Old Natl Bancorp ONB 12.77 49,075 PS Business Parks PSB 64.58 2,498 Pacific Drilling PACD 10.56 79,162 Penske Automotive PAG 24.08 19,400 Pier 1 Imports PIR 17.02 135,400 Polaris Indus PII 67.79 95,909 Post Properties PPS 46.26 38,818 PulteGroup PHM 8.52 2,164,070 Rentech Nitrogen Ptrs LP. RNF 25.72 73,073 Ryland Group RYL 20.56 266,960 SandRidge Mississip Tr SDT 35.40 57,217 AO Smith AOS 45.44 41,796 SolarWinds SWI 36.99 397,430 Sonic Auto SAH 17.09 26,776 Sovran Self Storage SSS 48.80 9,450 Sturm Ruger RGR 43.68 25,196 SWS Group SWS 7.77 39,826 SYNNEX SNX 38.28 20,343 Western Asset Mun Tr Fund MTT 23.04 2,435 New Lows 0 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ NASDAQ
New Highs 47 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ Apple AAPL 461.28 1,403,002 Ariad Pharm ARIA 15.82 357,098 BE Aerospace BEAV 46.12 72,254 BSB Bancorp BLMT 11.05 1,933 Beacon Roofing Supply BECN 24.59 30,870 BofI Hldg BOFI 17.48 14,473 Caribou Coffee Co CBOU 18.12 27,973 Computer Task CTGX 15.32 4,905 Cost Plus CPWM 15.69 93,943 Elizabeth Arden RDEN 39.32 36,140 ePlus Inc PLUS 31.99 3,125 Fastenal Co FAST 48.39 221,114 First California Finl Grp FCAL 4.90 15,367 First Citizens Banc FCZA 4.96 600 Gilead Sciences GILD 55.48 2,361,542 Global X NASDAQ 500 QQQV 27.42 450 Guaranty Bancorp GBNK 1.68 13,900 Hain Celestial Group HAIN 41.73 33,824 Harleysville Savss Fincl HARL 15.75 200 InnerWorkings INWK 11.66 7,100 Knology KNOL 16.23 10,311 Lakeland Industries LAKE 10.32 9,417 Liquidity Services LQDT 40.96 88,926 Medivation MDVN 74.60 77,827 MercadoLibre MELI 98.75 82,603 MicroFinancial MFI 7.11 1,557 Nathan's Famous NATH 21.94 1,200 Nicholas Fincl NICK 14.00 2,917 Northfield Bancorp NFBK 16.49 1,503 O'Charley's CHUX 9.88 8,604,892 Omega Flex OFLX 17.47 570 Panera Bread Co PNRA 158.40 112,865 Peoples Federal Bcshs PEOP 15.01 200 PwrShs SP SmCp Cons Discr PSCD 31.35 654 Presidential Life PLFE 12.21 7,556 Regeneron Pharmaceuticals REGN 98.08 163,122 Russ Small-Cap Contrarian SCTR 68.01 200 SLM 6.398% CPI-Lnkd 2018 ISM 21.95 692 Shuffle Master SHFL 14.12 24,797 Spirit Airlines SAVE 19.49 97,816 SureWest Comm SURW 22.69 130,199 Synergy Pharms Wt SGYPW 1.37 5,950 Synergy Pharms Un SGYPU 8.70 1,100 Tessco Techs TESS 18.13 6,731 Threshold Pharmaceuticals THLD 3.92 6,474,286 WSB Hldgs WSB 3.50 250 York Water Co YORW 18.22 1,706 New Lows 2 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ CyberDefender CYDE 0.13 59,690 Echo Therapeutics ECTE 1.95 21,190
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