Extending on the collaborative functions…
Comments »China Suspends All Nuclear Projects
In light of the crisis in Japan, following Germany’s move to shut down 7 nuke plants, China has decided to suspend 28 nuclear power plants projects.
The 28 projects in China represents 40% of total worldwide projects.
Note: not good for uranium stocks
Comments »European Companies Will Account for 70% of The World’s Photovoltaic Supply
Crack Spreads Moving Higher
Following yesterday’s 6% decline, crack spreads are back on the upside this morning, up more than 1.4% to $22.69.
UPDATE: Crack spreads are now up more than 2% and refinery stocks have responded with most up more than 2%.
Comments »Is The U.S. Government Funding Groups Who Support Amnesty and Open Borders For Illegal Aliens ?
“Shock and Awe” May Come to Nation’s Banks
Being dubbed forclosegate; the Obama administration would like to levy $30billion in fines to nations top banks
Comments »Stocks Down, Bonds Up
Classic flight to quality trade underway, as money flees risk for long dated government bonds.
The dollar is strong too.
TLT is up almost 2% in early trade.
Comments »Radioactive Contamination Not Covered by Insurance
The tab will be entirely on the Japanese government.
Via BNP Paribas analyst Rafael Villarreal
Comments »When insurers say a risk is uninsurable, it means the government will end up picking up the tab. Since the 1950s, to protect their solvency from the potential effect of having to pay full policy limits under every contract, insurers have excluded radioactive contamination from those classes where it was deemed uninsurable. The radioactive contamination of third party property is not insurable by conventional means, nor are attacks with nuclear weapons … The governments provide compensation (e.g. Chernobyl). The amounts involved have exceeded many times over the capacity of the nuclear insurance industry, which confirms that the decision to exclude it was the right one.
Former CEO of Freddie Mac May Receive Civil Action From SEC
Now will that be the guys caught for porn or real regulators who do some work?
Comments »C, MS, and BAC Top The List of TARP Recipients
Guess the fear of meltdown is non existent enough to provide some transparency…..
According to a congressional panel
Comments »In Play and On The Wires
Sanford Bernstein Downgrades IBM
They feel the good news is baked in.
Comments »Stocks Gapping Up and Down This Morning
Gapping up
ONP +36.5%, IMOS +14.0%, APT +13.4% (light volume), PANL +7.4%, VRA +6.8%, RAME +6.1% (light volume), AIR +4.7% (ticking higher), UHS +2.2%.
Uranium related names are modestly rebounding: URG +5.7%, URRE +3.8%, UEC +1.9%, DNN +1.3%, CCJ +1.3%.
Select oil/gas related names showing strength: LEI +11.5%, ROYL +6.6%, TIV +6.5%, LNG +2.1%, CHK +1.8%, WLT +1.2%.
A few coal names are also ticking higher: PCX +1.6%, BTU +1.5%, ACI +1.0%.
Other news: RMBS +7.9% (announces it has renewed its patent license agreement with Toshiba Corporation), HIT +3.6% and SNE +0.4% (modestly rebounding), ERIC +2.6% (issues statement on situation in Japan; not expected to have material impact on 1Q11 sales), BTU +1.3% (Cramer makes positive comments on MadMoney).
Analyst comments: BBT +1.2% (upgraded to Buy from Hold at Deutsche Bank)
Gapping down
In reaction to disappointing earnings/guidance: ORCC -26.9% (also announced last night that it has terminated its evaluation of potential business combinations, downgraded to Neutral from Buy at Janney Montgomery Scott), PSUN -7.2%, CHL -2%.
Select financial related names showing weakness: HBC -3.6%, BCS -3%, STD -2.8%, UBS -1.4%, DB -1.1%.
Other news: HQS -4.4% (to postpone fourth quarter and fiscal year 2010 earnings release date), AMLN -3.4% (Amylin Pharma and Takeda voluntarily suspend clinical activities in Obesity Trial), ENER -3.4% (ticking lower; weakness attributed to tier 1 firm downgrade), SIHI -2.3% (announces $11 mln registered direct offering at $2.30 per share ), CCL -1.6% (still checking for anything specific).
Analyst comments: IBM -1.7% (downgraded to Market Perform from Outperform at Bernstein), RIG -1.3% (initiated with Sell at Guggenheim), AAPL -0.7% (downgraded to Market Perform from Market Outperform at JMP Securities), TEF -0.7% (downgraded to Underperform from Neutral at Exane BNP Paribas).
Comments »Housing Starts: 479k Down 22.5% , PPI:+1.6%, Current Account Balance: – $113.3billion
Mar 16 | 8:30 AM | Housing Starts | Feb | – | 545K | 575K | 596K | – |
Mar 16 | 8:30 AM | Building Permits | Feb | – | 565K | 573K | 563K | 562K |
Mar 16 | 8:30 AM | PPI | Feb | – | 0.5% | 0.6% | 0.8% | – |
Mar 16 | 8:30 AM | Core PPI | Feb | – | 0.2% | 0.2% | 0.5% | – |
Mar 16 | 8:30 AM | Current Account Balance | Q4 | – | -$110.0B | -$110.0B | -$127.2B |
Government Panel Decides Bailouts Helped to Avoid Serious Crisis, But May Have Created Another in the Process
The congressional oversight committee said a depression was avoided, little has been done to help home owners, and that the “they might have sowed the seeds” for another crisis…..
Comments »Goldman Sachs Looks To Exit Mortgage Service Industry and They Make an Aquisition In India
Job Openings Abound, But Hiring Managers Hold Out For Cream of the Crop
Finding a job can be hard enough, but now companies are taking 4x longer than normal to fill positions withe the best of the best….
Comments »Eurozone Inflation Stays Persistently High
Inflation for food and commodities rose to 2.4%. Some analysts expect this rate of inflation to prompt ECB to move interest rates higher, while others say Japan may prevent a hike…..
Comments »Asia Holds its Gains With Nikkei up 5.7%, Europe Trades Mixed, and U.S. Futures Fluctuate
Markets seemed satisfied that downside has largely been priced in for the moment….
Comments »Despite a State of Emergency and Curfew in Bahrain the Fighting Continues
While protesters were broken up from public squares the protests and violence continued in small villages and outskirts of squares…
Comments »