Today’s Early Winners/Losers

2 TELK 14.55
3 YOKU 14.19
4 CYAN 13.96
5 FBP 13.26
6 TBSI 12.38
7 KUTV 11.80
8 CAGC.PK 11.25
9 ISS 11.13
10 EMKR 11.11
11 GEDU 10.97
12 DDSS 10.77
13 CIIC 10.70
14 ALN 10.16
15 LNKD 10.02
16 WPRT 9.95
17 GKNT 9.95
18 ERII 9.77
19 CCIH 9.07
20 BPHX 8.82
21 FTWR 8.33
22 OVTI 8.20
23 MWW 8.03
24 ARWR 7.80
25 CXPO 7.76
26 PGNX 7.65
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2 YRCW -13.13
3 ROSG -12.91
4 AXK -11.83
5 KAD -9.88
6 WH -8.79
7 ASTI -8.76
8 PARD -8.70
9 ONAV -8.16
10 SINO -8.11
11 KGJI -7.69
12 SYSW -7.69
13 ANO -7.69
14 CUR -7.64
15 HIHO -7.33
16 BITA -6.69
17 QBC -6.62
18 CBAK -6.42
19 PCYC -6.40
20 COIN -6.25
21 XOMA -6.18
22 LZEN -6.06
23 KBX -5.81
24 DNN -5.71
25 ABAT -5.61
26 ZSTN -5.54

Bob Parker, Vice Chairman of Credit Suisse Asset Management, said in an CNBC interview “banks are forming a bottom” based upon value propositions and three years of gross underperformance.

Related: he also believes investors should swap out of western companies with emerging market exposure for emerging market companies, based upon the premise that monetary policy will cease tightening, helping set the tone for outperformance.

He suggested making that trade “now” or within the “next three weeks.”

Recent investment by GSVC puts FBOOK valuation at $70 bill. The following giants of industry are now smaller than Facebook,

No. Ticker Market Cap
1 MT 50,140,000,000
2 SHPGY 50,280,000,000
3 DEO 50,790,000,000
4 ACL 50,800,000,000
5 F 51,120,000,000
6 GLD 51,333,367,098
7 AIG 51,760,000,000
8 DB 51,840,000,000
9 CHA 52,110,000,000
10 V 52,130,000,000
11 BA 52,880,000,000
12 AMGN 53,810,000,000
13 FTE 53,960,000,000
14 EMC 54,530,000,000
15 UNH 55,290,000,000
16 MO 56,040,000,000
17 HD 56,050,000,000
18 ABB 56,440,000,000
19 CAJ 57,190,000,000
20 SU 58,890,000,000
21 AXP 59,550,000,000
22 KFT 60,650,000,000
23 NTT 61,580,000,000
24 BNS 63,430,000,000
25 TSM 64,940,000,000
26 CAT 64,960,000,000
27 MMM 65,550,000,000
28 MTU 65,620,000,000
29 UBS 65,990,000,000
30 CMCSA 67,140,000,000
31 AZN 67,210,000,000
32 WBK 67,310,000,000
33 GS 67,670,000,000
34 NVO 68,190,000,000

Asia up by 1%, oil higher by 0.45 and the dollar is lower.

Related: S&P futures are up 3.5.

Micro cap company, GSV Capital (GSVC), reported they took a 225,000 share stake in privately held Facebook at $29.28 per share, valuing Facebook at more than $70 billion.

The transaction makes up 15% of GSV’s portfolio, who focuses on taking stakes in privately held companies, typically around the $100 million to $1 billion range.

CEO, Michael Moe said “Facebook is a one-of-a-kind business which has created enormous network effects. With over 650 million people on its platform, or approximately 1/10 of the world’s population, Facebook has established itself as a next generation social communications platform.”

Shares of GSVC soared by 41% today, making it a highly visible way to invest in soon to be public Facebook.

Up 6% to $25.07

He pared down is Autozone position by 5.9% to 23% of shares outstanding.

European markets were indicated down 0.3%, but reversed higher in early trade. At the moment, most European markets are higher by about 0.3% and S&P futures have reversed deep losses and are now higher by 3.5.

Following Friday’s 7% drubbing, 321 spreads are higher by 2% this evening to $24.14.

Asian markets are bouncing off the low, but still week.

Hong Kong -0.74%
Japan -0.9%
Korea -0.96%
China +0.4%

WTI crude is down 0.5% and S&P futures are down 2. They were down 6 earlier this evening.

Where’s the inflation now?

1 Cotton -28.55
2 Uranium -25.75
3 Tin -23.06
4 Nickel -19.00
5 Oil -15.10
6 Lithium -11.91
7 Coffee -9.51
8 Natural Gas -9.15
9 Cocoa -8.61
10 Coal -8.42
11 Silver -8.19
12 Copper -8.17

No. Ticker % Change
1 YRCW 19.15
2 SUG 15.55
3 NYNY 8.24
4 BBBB 7.92
5 COOL 7.02
6 SSN 6.34
7 PPC 6.12
8 SINA 5.52
9 SIFY 5.35
10 MOBI 4.82
11 SHZ 4.79
12 QPSA 4.78
13 EXM 4.71
14 CISG 4.58
15 FSIN 4.39
16 CYTR 4.10
17 LPL 4.02
18 HDY 3.92
19 URG 3.85
20 CWTR 3.85
21 NWL 3.78
22 ENTR 3.73
23 YONG 3.58
24 MTSN 3.57
25 HOLI 3.55
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No. Ticker % Change
1 PTIE -42.10
2 MU -12.40
3 SFSF -9.10
4 NBG -7.75
5 UAL -7.56
6 MRNA -6.67
7 COIN -6.20
8 DAL -5.89
9 LCC -5.50
10 LLEN -5.26
11 KV-A -5.18
12 HEAT -4.90
13 BRCD -4.80
14 LYG -4.69
15 AMR -4.63
16 RITT -3.77
17 AXAS -3.67
18 EK -3.64
19 BCS -3.64
20 ETE -3.62
21 ORCL -3.60
22 ASX -3.49
23 FLOW -3.39
24 FRO -3.36
25 CNTF -3.31

The Dow is now down more than 60 points, with the dollar up 0.3%, oil down 1%.

Risk off.

Too painful.

Southern Union agrees to be acquired by Energy Transfer for $33 a share, about $4.2 billion, ignoring Williams’ superior bid of $39.

I smell hostile takeover.

Cap ex numbers were stellar.

US Core Durable Goods at 0.6% vs. -1.6%% / exp 1.0% | Durable Goods Orders at 1.9% vs. -3.6% / exp 1.6%

Full article

They were up more than 7 last night, now down 2.5.

Europe is softening too on Italian bank concerns

Hardware

Full article

Japan’s third largest utility received an emergency loan of 100 billion yen to find alternative methods to buy power.

Full article

China and Hong Kong higher by 1.5%.

Oil is +1.20.

S&P futures are higher by 6.5.

Get your rally caps ready.