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Monthly Archives: May 2013

$GS to Jobless Jack

[youtube://http://www.youtube.com/watch?v=cddjB-k6QOk 450 300]

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A Million Revolutions

[youtube://http://www.youtube.com/watch?v=63dokT3hjRs 450 300]

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Documentary: Trading on Thin Air

Cheers on your holiday weekend!

[youtube://http://www.youtube.com/watch?v=cbyk1jI5YFU 450 300]

Trading on Thin Air explains the methods used by the financial oligarchy in the past to extract the wealth of the nation and shows how the same strategy is being used today to subvert a movement for conservation and sustainability and harness it in order to create the next big bubble.

[youtube://http://www.youtube.com/watch?v=O5mSWLnJXY0 450 300]

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O’Rourke: Central Banks are Losing Credibility

Mike O’Rourke of JonesTrading wales on the various Fed Heads and the Bank of Japan for having created a ridiculous situation where the entire market is just obsessed with every utterance from central bank chiefs, sucking away the oxygen from the real issues that should actually be driving markets.

He writes in this evening’s note that the events of the last two days are damning:

Losing Credibility.    

Earlier this month we highlighted comments Chairman Bernanke made a decade ago … “I worry about the effects on the long-run stability and efficiency of our financial system if the Fed attempts to substitute its judgments for those of the market.  Such a regime would only increase the unhealthy tendency of investors to pay more attention to rumors about policymakers’ attitudes than to the economic fundamentals that by rights should determine the allocation of capital.”  ….”

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$P Gaps Up on Revenue Beat

“NEW YORK (TheStreet) — Pandora Media (P_) shares were jumping more than 9% to $18.73 in afterhours trading after the biggest online radio service beat first-quarter revenue expectations. The company’s revenue outlook also topped expectations as its mobile advertising sales accelerated and the company added more subscribers during the quarter.

“Pandora continues to expand its mobile leadership,” stated CEO Joe Kennedy, who announced in March that he planned to step down after a successor was found. “Mobile listening hours and mobile ad revenue reached record highs, with growth in mobile ad revenue exceeding growth in mobile listening hours. During the quarter, we successfully implemented a mobile listening limit, enabling us to manage our content acquisition costs with minimal impact on listenership or revenue growth. Pandora’s subscriber base surpassed 2.5 million, adding more net new subscribers in the quarter than in all of fiscal 2013, giving Pandora the largest US streaming subscriber base of any music service.”

During the first quarter, mobile revenue grew 101% year-over-year to $86.7 million, outpacing mobile listener hour growth, which grew 47% year-over-year. Also, Pandora One subscribers surpassed 2.5 million, adding over 700,000 net new subscribers in the first quarter and growing 114% year-over-year. Total listener hours grew 35% to 4.18 billion…..”

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$ANF Tanks in the Pre-Market as Losses Widen and Sale Store Sales Melt Down

“May 24 (Reuters) – Abercrombie & Fitch Co on Friday reported a steeper-than-expected drop in quarterly comparable sales, in part because of inventory shortages, and the teen clothing retailer’s shares fell more than 11 percent.

Sales at stores open at least a year combined with online sales fell 15 percent. The decline was most pronounced at the Hollister chain, the company’s largest. But Abercrombie lost business under all its banners, even in its direct-to-consumer operations, which include e-commerce.

Abercrombie said it expected comparable sales to be slightly down for the remainder of the year.

Overall sales fell 9 percent to $838.8 million in the first quarter ended May 4, well below analysts’ expectations of $941.3 million, according to Thomson Reuters I/B/E/S…..”

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$GOOG Said to Face a New Antitrust Case

“U.S. regulators are in the early stages of an antitrust probe into whether Google, which dominates web display advertising, has broken antitrust law in how it handles some ad sales, a source told Reuters on Thursday….”

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Truck Strike Blamed for Bridge Collapse, Not Dilapidated Infrastructure

“A colliding truck may have triggered the collapse on Thursday of part of a four-lane freeway bridge that sent vehicles and drivers tumbling into a frigid river in Washington state, officials said.

A U.S. National Transportation Safety Board (NTSB) investigation into what led part of the Interstate 5 bridge to fall into the Skagit River 55 miles (90km) north of Seattle was expected to continue on Friday.

Two of the three people rescued from the river were hospitalized with hypothermia, but no one died, officials said.

The freeway is a principal corridor for vehicles between Seattle and Vancouver, Canada, and Washington state Governor Jay Inslee said he expected major traffic delays in the region.

State Patrol Chief John R. Batiste said a semi-truck driven southbound struck the bridge just before part of it collapsed. The bridge has metal overhead beams.

“The size of the load he was carrying appeared to create a problem, causing him to strike the bridge,” Batiste said. He said investigators were talking to the driver and inspecting the truck….”

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