Monthly Archives: June 2012
U.S. Retail Sales: Back-To-Back Declines For First Time In 2 Years
WASHINGTON — Americans barely increased their spending at retail businesses in April and May, constrained by weak job creation and paltry wage increases.
A sharp drop in gas prices pulled down overall sales in both months by 0.2 percent, the Commerce Department said Wednesday.
But excluding volatile gas station sales, retail sales increased only modestly in May and dipped in April. The report could lead economists to lower their outlooks for April-June economic growth.”
Comments »Cable Companies are Probed Over Online Video Antitrust Violations
A Quick Note From Nigel Farage
“Another one bites the dust”
[youtube://http://www.youtube.com/watch?v=TN_1mF-3JTI 450 300] Comments »Coal in the Murder Hole
The use of coal has fallen sharply as natty gaz is favored for generating electricity.
Comments »Woman Stoned on Bath Salts Beats Her 3 Year Old Baby, Punches Neighbor, Then Dies
The New York State Police say a Madison County woman high on ‘Bath Salts’ died after assaulting her three-year-old child.
Police were dispatched to an apartment complex in Munnsville after numerous 9-1-1 reports about a woman punching and choking her three year old child. She was also reported to be assaulting a next door neighbor.
Comments »20 Analyst Polled Expect the S&P to Rise 8% From Current Levels
Analysts are calling a bottom, and we here @ iBC have had many charts up in the past few days suggesting a bottom may have been put in. Technical analysis says we hold 1260-1275 S&P and that we could have a nice rally with a successful breakout above 1325-1340.
Comments »Boone Pickens: We’ve Bottomed Out On Natural Gas
Retail Sales and PPI Data
Retail sales: Prior 0.1%, Market Expects -0.2%, Actual -0.2%… ex auto -0.2%
PPI: Prior -0.2%, Market Expects -0.7%, Actual -1%…ex food and energy +0.2%, yoy core is up 2.7%
Comments »Upgrades and Downgrades This Morning
AAPL, CTL, CHK, COH, DB, HSY, HBC, HUM, JNJ, LDK, LOGM, L, MCD, WFR, NAV, PETM, PIR, RSG, TWI, UNH, VPRT, WWWW, ZNGA,
Comments »In Play and On the Wires
Buffett and Blankfein: US Economy Faces ‘Tough’ Times Ahead
“The U.S. economy is due to face some tough times ahead, say prominent investor Warren Buffett and Goldman Sachs Chief Executive Lloyd Blankfein.
“I think we’re in a tough position for the next three, four, five months,” Blankfein tells MSNBC’s “Morning Joe,” appearing alongside Buffett.
‘We’ve been in a lot tougher position, and the economy is not horrible; it’s just not growing the way it should and there’s just a lot of uncertainty,” Blankfein adds.
The U.S. economy is showing signs of softening. In its latest jobs report, the Bureau of Labor Statistics reported the country added a net 69,000 nonfarm jobs to the economy in May. By comparison, January and February added 275,000 and 259,000 net jobs, respectively.
Meanwhile, gross domestic product grew a lackluster 1.9 percent in the first quarter, down from an initial estimate of 2.2 percent, according to official data.”
Comments »Owning Your Content In Search
Myth of Perpetual Growth is Killing America
SAN LUIS OBISPO, Calif. (MarketWatch) — Yes, everything you know about economics is wrong. Dead wrong. Everything. The conclusions of economists are based on a fiction that distorts everything else. As a result economics is as real as one of the summer blockbusters like “Battleship,” “The Avenger” or “Prometheus.”
The difference is that the economic profession is a genuine threat, not entertainment. Economics dogma is on track to destroy the world with a misleading ideology.”
Comments »FLASH: Spanish Markets Rise and the Euro Strengthens as Bailout Details Emerge for Spain
Spanish markets are ripping tits, up 1.94%, as a sweetheart deal emerges for Spain. The Euro is firming up as well.
Comments »Investors Await Another Sugar Rush From Central Banks
JPMorgan CEO Dimon to Apologize in Senate Testimony
“JPMorgan Chase‘s recent trading losses are an isolated incident and the bank is expected to be “solidly profitable” in the second quarter, Jamie Dimon, the bank’s chief executive, will tell the Senate Banking Committee on Wednesday.
Dimon will tell the committee the bank feels terrible about the trading debacle, while emphasizing the losses will only hurt shareholders, not taxpayers, and the bank maintains a “fortress balance sheet,” according to his prepared testimony.”
Comments »Dell Shares Rise on Plan to Pay Shareholders First Dividend
June 13 (Bloomberg) — Dell Inc. rose in late trading after the third-largest personal-computer maker said it will pay a dividend for the first time, following peers such as Apple Inc. and Microsoft Corp. in returning more cash to shareholders.
The quarterly payout of 8 cents a share will begin in the period that ends in October, the Round Rock, Texas-based company said in a statement. The dividend’s yield would be 2.7 percent, based on the stock’s closing price yesterday. Shares climbed as much as 6.6 percent in extended trading after the announcement.
Comments »Yahoo And CNBC Launch Huge Content Partnership
“The leading online finance site, Yahoo, and the leading business TV network, CNBC, have announced a major partnership.
The companies will share content and talent and co-produce web shows that will appear on both their web sites. CNBC content will be integrated throughout Yahoo Finance and Yahoo.
The deal is similar to Yahoo’s recent partnership with ABC news, which has juiced the brands and traffic of both companies.”
Comments »Psychoanalysis of the Financial Crisis: Western Society Is Sick And Heading For Collapse
“Western society has behaved neurotically for the past twenty years and needs to be cured.
Professor Mark Stein draws this conclusion in a psychoanalysis of the financial crisis (via Steve Keen).
Symptoms of denial, omnipotence, triumphalism and over-activity were manifest in reaction to a series of crises—the fall of the Soviet Union, the Japanese and the Asian/LTCM crises—when the West did not respond with caution but instead by increasing risk:”
Full article
