The Euro halted its fall and is trading at 1.2141…
Comments »Monthly Archives: July 2012
Good Earnings Help to Create a Relief Rally in Europe
European markets managed to climb higher after several days of downside on good earnings reports.
Comments »Asian Markets Fall as the IMF Says China Faces Significant Downside Risks
Asia Trades Down, Europe Trades Up, and U.S. Futures Reach for Much Higher Ground
Only the NASDAQ futures are off a bit due to $AAPL…
Yields for Italy, Spain, France, and Germany …
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China is Expanding, Much to its Neighbors Chagrin
China’s newest city is a tiny and remote island in the South China Sea, barely large enough to host a single airstrip. There is a post office, bank, supermarket and a hospital, but little else. Fresh water comes by freighter on a 13-hour journey from China’s southernmost province.
Welcome to Sansha, China’s expanding toehold in the world’s most disputed waters, portions of which are also claimed by Vietnam, the Philippines and other neighbors. On Tuesday, as blustery island winds buffeted palm trees, a new mayor declared Sansha with a population of just 1,000 China’s newest municipality.
Beijing has created the city administration to oversee not only the rugged outpost but hundreds of thousands of square kilometers (miles) of water, aiming to strengthen its control over disputed — and potentially oil-rich — islands.
A spokesman for the Philippines Foreign Ministry said Manila did not recognize the city or its jurisdiction. Vietnam said China’s actions violated international law.
The city administration is on tiny Yongxing island, 350 kilometers (220 miles) southeast from China’s tropical Hainan Island. The Cabinet approved Sansha last month to “consolidate administration” over the Paracel and Spratly island chains and the Macclesfield Bank, a large, completely submerged atoll that boasts rich fishing grounds that is also claimed by Taiwan and the Philippines.
Vietnam and China both claim the Paracels, of which Yongxing, little more than half the size of Manhattan’s Central Park, is part. The two countries along with the Philippines, Malaysia, Brunei and Taiwan also claim all or parts of the Spratlys.
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Worst Performing Industry (Weekly Change)
Water is the New Gold, a Big Commodity Bet
According to this article, water is the new gold for investors this century.
Read the article here.
Comments »World’s Ugliest Chart Contest
Global Macro Monitor is out with some fugly charts juxtaposed against some good technical analysis.
See the world’s ugliest charts here.
Comments »Netflix Tumbles After Subscriber Shortfall
$NFLX is getting its ass kicked in the after-hours market, down -16%. For an analysis of Netflix’s latest earnings report, read here.
Comments »Comparing The Great Depression To The Great Recession [Infographic]
Well worth a read…
Some like to draw comparisons between the Great Depression and the recessionary period following the 2008 financial crisis. Here is an infographic from paydayloans.co.ukthat does just that on several key economic metrics.
Obama Administration Announces Solar Energy Projects
Because opening federal land in the Western states to increased oil and gas drilling is such a gamble.
The Obama administration will open public lands in six Western states to more solar projects as part of a solar energy road map it publicized Tuesday.
The Interior Department set aside 285,000 acres in Arizona, California, Colorado, Nevada, New Mexico and Utah for the initiative. Firms can apply for waivers to develop projects on an additional 19 million acres.
Read the article here.
Comments »FLASH: US/EUROPEAN FUTURES ARE SHARPLY LOWER
$AAPL Reports $9.32 vs Estimates of $10.36 , $35 Billion in Revenues Also a MISS
$AAPL guides slightly lower to $34 billion
26 million iPhones sold vs consensus of 30 million
17 million iPads sold vs consensus of 16 million
Comments »Markets Make a Comeback on WSJ Report of Clam Action
CNBC reports this article is what had the markets come roaring back late this afternoon.
Comments »Panera Bread Beats by $0.08 Per Share
FLASH: $BWLD MISSES
Buffalo Wild Wings misses by $0.06, reports revs in-line; lowers EPS guidance growth est
Reports Q2 (Jun) earnings of $0.62 per share, $0.06 worse than the Capital IQ Consensus Estimate of $0.68; revenues rose 29.7% year/year to $238.7 mln vs the $240.03 mln consensus. Sees FY12 EPS growth 15-20% vs. 20%+ previously (consensus +19%). “We managed controllable costs, but the higher year-over-year wing costs in the second quarter moderated our net earnings to a 9.3% increase over the same quarter last year, providing earnings per diluted share of $0.62 compared to $0.58 a year ago. We continue to outpace the casual dining category with same-store sales increases of 5.3% at company-owned restaurants and 5.5% at franchised locations for the second quarter.”
Compression Ahead: Market Capitalization as a Percentage of GDP
A great look at the market over time courtesy of Ritholtz @ The Big Picture.
Comments »Biderman’s Daily Edge 7/24/2012: Why We’re 100% Bearish
[youtube://http://www.youtube.com/watch?v=bgcGZ7WLocI 450 300]
Comments »U.S. Treasury Yields Hit All Time Lows
“Despite some early angst, Treasury yields have been crushed lower today. Down 7bps from their European close levels, 30Y is trading with a 2.45% handle for the first time ever and 10Y now with a 1.39% handle.”
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