Monthly Archives: November 2012
Under 18 Shoulder a Mountain
“(CNSNews.com) – If Americans under the age of 18 were required as a group to pay off the entirety of the federal government’s debt in equal shares, each would now need to pay about $218,676.
That is more than the $130,468 average price tag for four years at a private college or the $173,100 median price for an existing one-family home in the United States.
During the time Barack Obama has been president, the U.S. government debt has increased from approximately $143,255 per American under 18 to approximately $218,676 per American under 18–a climb of $75,421 or about 53 percent.”
Comments »A Dead Heat
With the exception to exit polls I do not pay attention to polls…at any rate, we have a dead heat thus far:
Comments »Market Update: YAWN
Flagging action until tomorrow’s election results….
Comments »$WAG Posts Poor Quarterly Results
$GS Upgrades the Pipeline Sector
$NFLX Invokes a Poison Pill
ISM Manufacturing Falls More Than Expected in the U.S.
Gapping Up and Down This Morning
Gapping up
RHP +3%, RIG +2.1%, ALXN +1%, BHP +0.9%, SXL +0.8%, QCOM +0.4%,
CBS +0.9%, TGT +1.4%, MNKD +3.5%, DOV +1.7%, BMRN +27%, TRQ +3.6%,
KBW +17.1%, NTE +19%, TSLA +4.1%, TM +2.4%, ROK +2.3%, ROG +2.2%,
AWR +1.7%,
Gapping down
SLW -3%, HBC -2%, NKA -1.5%, RDN -7.1%, LYG -1.5%, DB -1.3%, ING -1.3%,
ITUB -1.3%, TOT -1.4%, E -1.4%, BP -0.9%, RDS.A -0.7%, XOM -0.3%,
PBR -3%, ELP -2.7%, CPL -2.6%, GFA -2.4%, SID -2.3%, RIO -1.6%, SAN -1.3%,
MTW -4.7%, SLW -3%, HBC -2%,
Comments »
Upgrades and Downgrades This Morning
In Play and On the Wires
Pimco’s El-Erian: Tight Credit Threatening Global Economy
“Sovereign-debt concerns in Europe and in the United States grab headlines repeatedly though another credit crisis poses just as much as a threat to the global economy — tight credit for households and smaller businesses, said Mohamed El-Erian, CEO of fund giant Pimco.
Banks in the United States, Europe and elsewhere have been reluctant to lend to households, individuals and smaller businesses in wake of the 2008 credit crisis.
As a result, unemployment rates remain high and recovery suffers.”
Comments »ShadowStats’ Williams: Big Trouble Looms No Matter Who Wins
“Whoever wins Tuesday’s election — whether it’s President Barack Obama or his Republican challenger Mitt Romney — will battle economic depression and hyperinflation, thanks to years of a lack of political will to pay down debts, private-sector economist John Williams wrote on his ShadowStats website.
Monetary-stimulus measures that have weakened the dollar to jolt the economy will send the economy into depression at a time of soaring prices, likely around 2014, he wrote: “The next presidential term most likely will see the onset of a domestic, hyperinflationary great depression.”
“The long-term solvency issues of the United States remain the primary threat to domestic financial, economic and political stability and to the relative global valuation of the U.S. dollar. The dollar’s vulnerability to this issue has been seen consistently with ongoing failed federal budget negotiations and ever-expanding quantitative easing by the Federal Reserve.”
Comments »Stifel Financial to Buy KBW for $575 Million – $SF, $KBW
“Stifel Financial agreed on Monday to buy KBW Inc. for about $575 million in cash and stock, giving the acquisitive investment banking firm a prominent adviser to the financial services industry.
Under the terms of the deal, Stifel will pay $10 a share in cash and $7.50 a share in stock. (The exact amount of stock that KBW shareholders will receive will be based on Stifel’s volume-weighted average closing price for the 10 days before closing.)”
Comments »$TWC Misses Estimates
$SWN Posts a Loss Missing Estimates
$RIG Pops in Premarket Trade on Q3 Release
Has $AAPL Crossed Into an Area of Funk ?
“Apple Inc. the world’s most valuable company, is suddenly in a rut.
- A new report says 75% of smartphones out there are Android phones, and only 15% are iPhones.
- For the first time ever, iPhone customer loyalty is declining.
- Scott Forstall was suddenly booted from the company last week. He was the creator of iOS, Apple’s most prolific inventor, and a former “CEO-in-waiting.”
- The stock is cratering. It’s down to $576 after peaking above $700 in min-September.
GRANTHAM: ‘Capitalists Who Are Desperate To Elect Republicans Should Study Their History Books’
“….I’ve hero-worshipped the presidential cycle. Going back to 1932, if you take the first and second year together, they’ve had no real return in the market. All of the return has been compressed into a gigantic Year Three and a respectable Year Four. For us, the cycle years start on October 1st. So now we’re in the dreaded first year. And we have Republicans threatening to add fiscal constraints into a very fragile economy. We have the European situation. We have China stumbling in an incredible slow-motion style. I think it’s a really good year to keep your head down…”
Comments »$TM Sees Profits Triple
“TOKYO (AP) — Toyota’s quarterly profit tripled, driven by a recovery from natural disasters, and the company raised its full-year earnings forecast Monday despite a sales slump in China.
Toyota Motor Corp., on track to regain the crown of world’s No. 1 automaker this year, reported a July-September net profit of 257.9 billion yen ($3.2 billion) compared with an 80.4 billion profit a year earlier. The result was better than the 238 billion yen ($3 billion) quarterly profit forecast by analysts surveyed by FactSet.
Japan’s top automaker raised its profit forecast for the full fiscal year through March 2013 to 780 billion yen ($9.8 billion) from 760 billion yen ($9.5 billion).”
Comments »
