After a quiet period and a $FB debacle we are starting to see some filings and IPOs coming to market.
Comments »Monthly Archives: June 2012
The ECB Proposes Bank Supervision for the EU Union
The ECB has prepared a report stating procedures and reasons why they should supervise all banks within the region.
Full article
Comments »Goldman’s Jim O’Neill: Global Economy Could Be ‘Taken Down’ by Euro Crisis
A Banking Takeover is Working in Spain
“Saddle them with debt, blow them up with derivatives, and then refinance for the crown jewels”
Comments »REPORT: There Is A Plan In Congress To Delay The Fiscal Cliff
“Congressional Democrats and Republicans are working to push back the fiscal cliff set to hit at the beginning of 2013, Bloomberg’s Roxana Tiron reports.
The new plan would have the $1.2 trillion in automatic spending cuts go into effect in March, several months after first planned.
Sources tell Tiron that the extension would include temporarily prolonging the Bush tax cuts, as well as funding the government through spring of 2013.”
Comments »Congressional Budget Office Has Cumulatively Reduced its Estimate of 2017 GDP by 6.6%
Guess who is responsible for curbing this estimate…at least in theory due to politics ?
Comments »Home Prices Rise Much More Than Expected – Case Shiller Index
“The number is out, and it’s good.
House prices rose 0.67% in April according to the S&P Case-Shiller 20 city composite.
That’s well above the sequential 0.3% that was expected.
On an annual basis, the fall was just 1.9%… far better than the fall of 2.5% that was expected.”
Comments »Upgrades and Downgrades This Morning
ACE, AIG, CAR, RATE, CIEN, CTSH, DNDN, EBAY, ENS, EXPD, GOOG, JPM, MM, MS, NBG, PTR, RTN, VCLK, VECO, YGE,
Comments »In Play and On the Wires
Seagate Technology to be Added to the S&P While Progress Energy is to be Deleted – $STX, $PGN
SBA Communications to Buy 3.3k Phone Towers From TowerCo. for $1.45 Billion
“(Reuters) – Wireless tower operator SBA Communications Corp will buy 3,252 mobile phone tower sites in the United States and Puerto Rico from privately held TowerCo for about $1.45 billion to benefit from an explosion in data traffic.
TowerCo will get $1.2 billion in cash and 4.6 million SBA common shares, the companies said in a statement.”
Comments »Coca-Cola To Invest $3 Billion in India
$KO is planning to make a major investment in India over the next 8 years. This is in addition to ground work investments made over the past 5 years.
Comments »News Corp Considering Breaking Up into Two Companies
Murdoch is considering breaking News Corp into a growth unit and a value unit.
Comments »Small Local Banks Try to Fill the Loan Gap as Big Banks Hoard Tax Payer Money
Thankfully, small business and U.S. citizens have credit unions and small regional banks to fall back on as the big banks continue to hoard all the liquidity given to them by you the tax payer.
IT IS TIME TO BREAK UP THE BIG BANKS !!!
Comments »Goldman Puts $JPM On ‘Conviction Buy List’ And Lowers $MS Guidance
Says JPMorgan could resume share buybacks in 2012
* Cuts JPMorgan’s Q2 EPS estimates to $0.60 from $0.75
* Cuts Morgan Stanley’s 2012 EPS estimates to $0.56 from $1.04
* Sees muted capital markets activity hurting Morgan Stanley earnings
June 26 (Reuters) – Goldman Sachs added JPMorgan Chase & Co to its America’s conviction buy list, saying the U.S. bank’s capital position and earnings power can offset its recent hedging loss of at least $2 billion.
Goldman downgraded Morgan Stanley to “neutral” from “buy,” and removed the stock from its conviction buy list, saying earnings could be hurt by muted capital markets activity.
While Goldman sees value in Morgan Stanley’s shares at current depressed levels, it expects better returns at JPMorgan.
The 15 percent decline in JPMorgan share price since the largest U.S. lender by assets announced trading losses at its chief investment office has been “drastic,” given the unit’s 5 percent average earnings per share contribution, Goldman said.
Comments »LIBOR ‘Guardians’ Lobby Hard Against Rules to Change the Market Place
So called ‘guardians’ of current LIBOR practices are fighting against any changed proposed by a panel set out to investigate and regulate current condition. The guardians say new regulations would violate or cancel many open contracts.
Comments »FLASH: Spanish and Italian Markets Comfortably In the Red
China’s Market Rallies on Better Than Expected Trade Growth in June and Speculation for New Lending
The Hang Sen 40 rallied bucking global market downside as trade growth numbers for June came in better than expected. The relief rally was also fueled by speculation the government will create new lending facilities.
Comments »KKR Puts Together $4 Billion For M&A in the Energy Sector
“KKR & Co. (KKR), the private-equity firm run by Henry Kravis and George Roberts, has gathered about $4 billion to invest in infrastructure and energy deals as the firm looks beyond corporate takeovers.
KKR completed raising about $1 billion for infrastructure investments and $1.25 billion for natural resources, the New York-based firm said today in a statement. That’s combined with $1.3 billion in separate accounts for infrastructure, and $350 million for natural resources contributed by affiliates of KKR.”
Comments »Speculation Decreases for a Rate Cut in Australia; As a Result the Aussie Dollar Popped Last Night
The Aussie dollar moved up over night on lowered chances that the Australian central banks will lower rates. This is much different from a risk on trade.
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