Today’s Biggest Winners
FLASH: Social Media Names Have Reversed and Are Now Exploding to the Upside
European Markets Are in Full Retard to the Upside Mode
FLASH: $JPM SUSPENDS SHARE BUYBACK
The stock is down 0.9% on the news.
Comments »FLASH: Social Media Stocks Ravaged, Amidst $FB Debacle
FACEBOOK IS NOW IN CRASH MODE $FB
The underwriters are getting obliterated. FB is now down more than $4 or 11% at $34.
Comments »$ETN Acquires $CBE For Huge Premium
Diversified industrial manufacturer Eaton Corp said it will buy electrical equipment maker Cooper Industries for $11.8 billion in cash and stock.
The offer of $72 per share is a 29 percent premium to Cooper’s Friday closing price. Cooper shareholders will get $39.15 in cash and 0.77479 in Eaton share for every share they own.
Comments »Facebook Lunacy: $SVVC is Now Trading Below Cash
Firsthand Tech. Value Fund confirms it currently holds 600,000 shares of Facebook (FB) common stock; Fund’s estimated Gross Assets at $24.51 per share (19.27)
SVVC notes it currently holds 600,000 shares of Facebook (FB) common stock, and the Fund’s cost basis in Facebook stock is approximately $31.50 per share. The Fund also announced today that its estimated gross assets as of May 18, 2012 were approximately $210 million, or $24.51 per share. Current cash holdings total approximately $170.5 million, or approximately $19.93 per share.
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Europe is driving full-tilt, foot on the pedal, into a brick wall
I see the G8 has a brilliant solution to the problems of the eurozone.President Obama says it’s time for “growth and jobs”. Jolly good. That’s the stuff. Let me show you how to create employment – the Brussels way.
Come with me through the streets of Athens, not far from Syntagma Square, and your mind will reel with the horrified realisation that history is not a one-way ratchet, that human progress is not guaranteed, and that a proud country can be reduced – by years of torture and bullying – to a state verging on total political, economic and moral collapse.
You will see businesses boarded up and windows smashed because no one has the money or the energy to fix them, and on almost every wall a riot of graffiti full of poisonous hatred for politicians. You will see people sitting on cardboard, heads down, hands out, or pushing trolleys full of scrap metal.
Not far from the town hall, I saw a man using the pavement as an operating theatre to eviscerate a mattress for its springs. In the eyes of every politician there is a glassy humiliation, a sense that the fate of the nation is no longer in their hands. Even worse than the humiliation is the dread that things will deteriorate further still. Thousands are now being fed by soup kitchens.
FACEBOOK IS NOW TRADING BELOW ITS IPO PRICE $FB
The stock is trading at $36.58, down 4.3% in pre-market trading.
Related: All social networking stocks are following it down the sewer pipe.
Comments »$JMBA Ups Guidance
Jamba raises FY12 comp guidance to +4-6% from +3-4%; raises operating margin guidance (1.86)
Co has raised its guidance for co-owned comparable store sales and adjusted operating profit for fiscal year 2012. The co now expects that co-owned comparable store sales for fiscal year 2012 will be in the range of 4-6%, compared to the previously guided range of 3-4%. The co is also increasing its guidance for adjusted operating profit margin for fiscal year 2012 to between 20-23% from the previously guided range of 19-22%. The co maintains its fiscal year 2012 guidance for the following: Develop 40-50 U.S. locations, plus 10-15 new stores at international locations, all excluding JambaGo units; Maintain general and administrative expenses flat, in dollars with fiscal 2011, excluding performance compensation; Deliver CPG licensing revenue of ~$3 million.
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$RVBD Doubles Share Repurchase to $300 Million
“We believe the current share price does not reflect the strength of Riverbed’s long-term growth prospects,” said Jerry M. Kennelly, Riverbed’s president and chief executive officer. “This action underscores our confidence in our business and our continued commitment to maximizing value for our shareholders.”
Comments »China is Turning Away Ships With Raw Materials
Chinese consumers of thermal coal and iron ore are asking traders to defer cargos and – in some cases – defaulting on their contracts, in the clearest sign yet of the impact of the country’s economic slowdown on the global raw materials markets.
Comments »DEFCON 2 WILL HAVE TO WAIT: WESTERN MARKETS INDICATING A HIGHER OPEN
Thailand: Man Found with 6 Roasted Fetuses Faces Just 1 Year in Prison
That’s about two months per human fetus.
A British citizen in Bangkok has been arrested after Thai police found six roasted human foetuses packed in his luggage.
Chow Hok Kuen, who is 28 and of Taiwanese origin, was held by police after the grisly discovery was made in Bangkok’s Chinatown district yesterday.
Reports says the six foetuses had been covered in gold leaf after being roasted as part of a black magic ritual.
It is not clear where the bodies came from, but Chow Hok Kuen is believed to have been attempting to smuggle them into Taiwan.
The bodies were reportedly found in a different hotel from the one Chow Hok Kuen was staying at, but were in his luggage.
Comments »Josh Brown: What Will the JT Marlin Guys Tell Their Clients?
The boiler room brokers who’ve spent the last 6 months pounding their clients and prospective clients to get in on their “Facebook IPO funds” now have some ‘splainin’ to do. I explained what these were in a post last week, read it here.
Anyway, now their “clients” are locked into a private placement vehicle that purports to own shares – most of which are likely 144 lock-up shares (non free-trading stock). They pitched the fund as “the only way to get in on Facebook before the IPO!” I imagine that the sizzle that sold this steak was centered around the potential of a massive opening pop and the exclusivity that comes with owning IPO stock in advance.
Full Article
A SPECIAL MESSAGE TO FACEBOOK, FROM SHAREHOLDERS OF SOCIAL MEDIA STOCKS
Will Smith Slaps Reporter For Being a Gay Fool (VIDEO)
CNBC: NASDAQ FUCK UP CAUSED FACEBOOK SHARES TO SINK
David Faber from CNBC is reporting that NASDAQ reporting delays caused people to step away from buying Facebook. Underwriters came in and supported the $38 bid and everyone lived happily ever after.
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