$STX is moving to the downside this morning as the company warned they may miss estimates for their upcoming earnings report.
Comments »Amazon to Create a Mobile Phone to Overcome Apple
“Amazon.com Inc. (AMZN) is developing a smartphone that would vie with Apple Inc. (AAPL)’s iPhone and handheld devices that run Google Inc. (GOOG)’s Android operating system, two people with knowledge of the matter said.
Foxconn International Holdings Ltd. (2038), the Chinese mobile- phone maker, is working with Amazon on the device, said one of the people, who asked not to be identified because the plans are private. Amazon is seeking to complement the smartphone strategy by acquiring patents that cover wireless technology and would help it defend against allegations of infringement, other people with knowledge of the matter said.”
Comments »Gapping Up and Down This Morning
Gapping up
NBG +6%, SXCI +4.3%, ELN +3.3%, YNDX +0.9%, AH +4.1% ,
MLNX +4.8%, PCX +14.1%, OSUR +12.4%, PHMD +4.2%, CHTP +6.9%
Gapping down
NOK -3.3%, STO -2.6%, LIVE -2.2%, SDRL -1.8%, BBVA -1.8%, BCS -1.3%,
VE -5.1%, AEG -2.7%, SNY -1.4%, NVS -1.4%, NVO -1.2%,
RBS -2.5%, BBVA -1.8%, SAN -1.5%, DB -1.4%, BCS -1.3%
AMBO -8.2%, BKE -3.5%, TGT -3.3%
Comments »Costco June Sales Swoon
“Costco’s (NASDAQ: COST) results for June showed that one of the most successful retailers in the United States stumbled. Costco tends to cater to high-end shoppers, so its same-store sales could indicate that the well-to-do have cut back their consumer spending. Same-stores sales were up only 3%.
The big-box retailer issued its numbers:”
Comments »Exxon Mobil Said To Explore Sale Of German Esso Gas Stations
$XOM is considering selling over 1100 gas stations in Germany. The Sale may fetch over 1.3 billion Euros. Given Germany is the strongest European economy it is a wonder why the sale would take place. However this follows suit with other divestitures in markets where gasoline consumption is on the decline.
Comments »The Baltic Index Seeks to Double Asian Membership
Given 75% of the Baltic Index business comes from Asia, they will try to double membership over the next two years.
Comments »The Trans Pacific Partnership Scandal….I Mean Deal…Gets Leaked
“Information has been leaked about the Trans Pacific Partnership (TPP), which is being negotiated in secret by US Trade Representative Ron Kirk. Six hundred corporate “advisors” are in on the know, but not Congress or the media. Ron Wyden, chairman of the Senate trade subcommittee that has jurisdiction over the TPP, has not been permitted to see the text or to know the content.
The TPP has been called a “one-percenter” power tool. The agreement essentially abolishes the accountability of foreign corporations to governments of countries with which they trade. Indeed, the agreement makes governments accountable to corporations for costs imposed by regulations, including health, safety and environmental regulations. The agreement gives corporations the right to make governments pay them for the cost of complying with the regulations of government. One wonders how long environmental, labor, and financial regulation can survive when the costs of compliance are imposed on the taxpayers of countries and not on the economic activity that results in spillover effects such as pollution.”
Comments »With Sizzling Sales at Government Motors Why is the Stock Hitting New 52 Week Lows ?
GM Reports an Increase of 15.5% in June Sales
This was slightly above expectations and the best sales month since 2008. Retail sales up 8% while fleet sales are up 36%…..
Comments »June Sales Sizzle for Ford
“Ford (NYSE: F) put on an impressive show in June, at least based on U.S. sales. The numbers will not offset worries about revenue from Europe, but do show Ford’s strength in its home market..”
Comments »GlaxoSmithKline LLC Will Pay $3 Billion and Plead Guilty to Promoting Two Popular Drugs
Broadcom To Pay MIPS $26.5M For Extended Licensing Deal – $BRCM, $MIPS
“
MIPS Technologies disclosed in an SEC filing that it signed a new deal to license its patent portfolio toBroadcom. Under terms of the deal, Broadcom will pay MIPS $26.5 million in cash “and provide other consideration.”
MIPS said it granted Broadcom a multi-year license extension, “including some pre-paid support and maintenance” the the current MIPS microprocessor architecture. The agreement will end when the last of the patents covered under the deal expire.
MIPS notes that Broadcom has been a licensee of MIPS technology since 1998.
MIPS in early trading is up 5 cents, to $6.77.”
Boeing Expects a Slowdown in Jumbo Jet Sales
“Boeing Co. (BA) said growth in industry deliveries will slow in the next 20 years as demand wanes for jumbo jets and freighters, with the global fleet expanding at less than a fifth of the rate predicted in 2011.
Airlines will take 34,000 new planes valued at $4.5 trillion through 2031, Chicago-based Boeing said today. That’s a 1.5 percent increase from a 33,500-jet estimate last year, when the planemaker raised its two-decade forecast by 8.4 percent.”
Comments »Microsoft Writing Down $6.2 Billion Over AQuantive Deal
“Microsoft Corp. (MSFT) is taking a $6.2 billion writedown for almost the entire amount it paid for Internet-advertising company AQuantive Inc., signaling that its online division will perform worse than the company projected.”
Comments »Intel Will Try to Overturn EU Anti Trust Fine Arguing Regulators Withheld Evidence
“Intel Corp., (INTC) the world’s largest maker of computer chips, will seek to overturn a record European Union 1.06 billion-euro ($1.34 billion) antitrust fine, arguing regulators withheld evidence and failed to give the company the chance to fully defend itself.
Intel will ask the EU General Court in Luxembourg at a hearing starting today to throw out the European Commission’s ruling that its use of rebates violated EU antitrust rules. Intel said the EU failed to use mitigating evidence or to allow it respond to all of the allegations.”
Comments »Documents Expose Morgan Stanley Forcing Rating Agencies To Inflate Ratings
“With Europe, the BBA, and virtually everyone shocked, shocked, that the global bank cabal schemed and colluded for years to manipulate interest rates, so far only America appears relatively blase, and totally ignorant, about the issue. Perhaps it is because the first bank exposed in the manipulation scheme so far is European, perhaps because it is just tired of all the endless crime coming out of the criminal complex known as Wall Street. It is unclear. Then again, America will soon have its own manipulation scandals to deal with: ”
Comments »United Technologies Does a Low Down Dirty Shame
“China’s military today has its first attack helicopter, thanks in part to a major American defense contractor that illegally provided important software and in the process violated U.S. export control laws.
Federal prosecutors announced this week that United Technologies and two of its subsidiaries were punished for selling engine-control software to the Chinese 10 years ago. The companies were ordered to pay a $75 million fine for violating an arms embargo that’s been in effect since the 1989 Tiananmen Square massacre.”
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Con Edison Tells the Unions To Go F’ Themselves
Con Edison has asked that thousnads of workers not show up for work after talks have broken down past deadlines. Not a good time given the heat wave and all, but maybe we will see the magic of technology compensate for the loss of workers.
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