Mortgage Applications Drop 5.9% After an Uptick Last week

Average 30 year fixed hovers around 4.57%.

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U.S. Markets wait on the Fed

Nikkei currently up 1.8%

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The Euro is trading $1.43 to the dollar

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This vote only brings Greece closer to securing immediate funds of $17 Billion.

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Policy makers want to stem any potential slowdown and “further shocks to demand.”

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Western Refining upgraded at Deutsche Bank As noted earlier, Deutsche Bank upgraded Western Refining to Buy from Hold with a $24 target. The firm upgraded the stock as it believes the company will benefit from its operational and financial leverage to the Brent-WTI spread, which the firm anticipates will remain wider for a longer period than expected.

A final price could not be hammered out.

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The dollar is up 0.28% following the ever so important Greek confidence vote, which paves the way for further austerity. Oil is soft, as well as S&P futures, now 3 points below fair value.

On the brighter side, Japan is up 1.3%.

The 300 lawmakers of Greece have approved the sale of Earth and Water.

Let the austerity begin.

UPDATE: Final vote was 155-143

Developing…

Co announces acquisition of privately held iFrogz, a mobile device accessories company specializing in lifestyle audio products and protective cases, for approximately $105 million. Under the terms of the definitive agreement, ZAGG acquired all of the outstanding stock of iFrogz for $50 million of cash, 4.4 million restricted shares of ZAGG common stock, and assumed approximately $5.0 million of outstanding debt. For 2011, iFrogz is expected to generate over $60 million of revenue with operating margins in line with ZAGG’s previously disclosed guidance. ZAGG expects the acquisition to be immediately accretive on an earnings per share basis, excluding one-time transaction-related expenses. ZAGG will provide updated consolidated guidance on its second quarter earnings call.

Source: Briefing

That was your tax money….

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79% feel stimulus will be extended; that’s up from 52% since April…..

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Rally ho.

No. Ticker % Change Market Cap
1 RIMM 7.03 13,490,000,000
2 NBG 6.77 6,350,000,000
3 LNKD 6.74 6,020,000,000
4 BIDU 6.55 41,260,000,000
5 WFM 6.20 10,000,000,000
6 KB 5.88 15,780,000,000
7 AEM 5.76 10,470,000,000
8 NTES 5.75 5,460,000,000
9 PKX 5.52 7,490,000,000
10 PCLN 5.45 22,780,000,000
11 RCL 5.34 7,720,000,000
12 CCJ 5.26 9,160,000,000
13 CTSH 5.26 20,660,000,000
14 SHG 5.18 21,380,000,000
15 WF 5.06 9,290,000,000
16 LCAPA 4.99 6,300,000,000
17 MOS 4.96 27,120,000,000
18 TCK 4.86 25,990,000,000
19 MPEL 4.73 5,630,000,000
20 HK 4.72 6,880,000,000
21 LULU 4.71 6,990,000,000
22 CBG 4.65 7,550,000,000
23 SLW 4.65 11,010,000,000
24 IAG 4.56 7,120,000,000
25 SIRI 4.43 7,580,000,000

Tough call on what is the right thing to do. Fight wars in our national interest or cut bait and spend that money at home.

Perhaps instead of exploiting oil overseas we could try harder here at home. Some say we have 200 years of oil in the north slope of Alaska.

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Deleveraging until 20202….ouch

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Good luck with your fast and prayers….

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developing……