The Dow is up 45, Nasdaq flat and the S&P is up 2.7
Comments »Monthly Archives: June 2011
Flash: U.S. 2 Year Yields Hit Record Low
Manitowoc upgraded to Positive from Neutral at Susquehanna
Ticker MTW
Comments »ETE Acquires SUG
SUG shareholders get $33.
Comments »Kroger beats by $0.06, beats on revs; raises FY12 EPS, comp guidance
Reports Q1 (Apr) earnings of $0.70 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.64; revenues rose 11.0% year/year to $27.46 bln vs the $26.66 bln consensus; comps ex-fuel +4.6%. Co raises guidance for FY12, sees EPS of $1.85-1.95, up from $1.80-1.92 vs. $1.90 Capital IQ Consensus Estimate. Based on the current operating environment, the co expects to achieve results near the top end of this range. The increase reflects the strength of the co’s first quarter results and the higher estimated LIFO charge. The co now expects identical supermarket sales growth, excluding fuel, of 3.5% to 4.5% for the year, up from 3-4% perviously. FIFO gross margin was 21.42% of sales for 1Q11. Excluding retail fuel operations, FIFO gross margin decreased 4 bps from the same period last year. Supermarket selling gross margin declined 7 bps without fuel from the same period last year.
Comments »Flash: Macy’s Reaches Deal with Union
Futures Improve As Greece Ruling Party Set to Meet
S&P futures are now up 1, erasing a 6 point deficit, as optimism over a Greek bailout increases.
Comments »Flash: Greek CDS Blow Out Further
5 year Greek CDS 1,900 bps.
Additionally, both Irish and Portuguese CDS are above 800 bps.
NOTE: Spanish CDS about 310 bps and Italian are trading a tad under 200 bps
Comments »Homeaway Prices IPO Between 24-27
Shares valued at $2bill
Comments »Goldman is Out of Subprime
Your Tax Dollars at Work
Housing and Labor Mobility
Interesting paper written on the housing effect and labor mobility. The writers argue that lower home prices and negative equity have helped to create a lock in effect
Comments »Goodnight Irene; Volume Exploded to the Downside Today
[youtube:http://www.youtube.com/watch?v=Rs3mj1E8LSU 450 300] Full article
Comments »Almost Half of the U.S. Expects a Double Dip
Everyone is down on the economy and 54% of those polled feel the Obama administration is not handling the economy properly.
People still blame Bush more than Obama for the malaise in the economy
Comments »Report: Paulson’s Flagship Fund Down Nearly 20% for the Year
Slow Motion Crash
Wien of Blackstone is the latest to gang up on Whitney, but with $112 billion in state budget deficits I think Whitney will win in the end with her harsh call.
Comments »Nikkei Gaps Down 1%
Economists Put Western Growth on the Guillotine
Japan gets an upgraded outlook while G-8 nations get not much fanfare till the end of next year.
Greece is big on the list of fears.
GDP for the U.S. gets slashed to 2.5 % from 3.3…..
Comments »Today’s Large Cap Carnage
Today’s biggest losers with market caps over $5billion
No. Ticker % Change Market Cap
1 BBVA -5.68 51,060,000,000
2 STD -5.45 100,460,000,000
3 CBG -5.40 7,690,000,000
4 AWC -5.36 5,800,000,000
5 NXPI -5.36 6,360,000,000
6 NBG -5.34 6,250,000,000
7 SINA -5.23 5,770,000,000
8 LNC -5.23 8,630,000,000
9 TI -5.16 26,520,000,000
10 ANR -5.14 5,530,000,000
11 NMR -5.05 17,820,000,000
12 CTXS -5.05 15,330,000,000
13 MET -4.97 43,630,000,000
14 NOK -4.95 23,220,000,000
15 CRH -4.84 15,090,000,000
16 HIG -4.80 11,140,000,000
17 BIDU -4.77 43,540,000,000
18 LPL -4.75 10,390,000,000
19 STO -4.65 79,450,000,000
20 TEF -4.63 107,400,000,000
21 VE -4.62 14,070,000,000
22 STM -4.61 9,180,000,000
23 MOS -4.59 30,070,000,000
24 RVBD -4.52 5,270,000,000
25 PHG -4.46 24,630,000,000
Flash:Finisar prelim $0.33 vs $0.33 Capital IQ Consensus Estimate; revs $236.9 mln vs $243.29 mln
Finisar sees Q1 ~$0.17-0.21 vs $0.39 Capital IQ Consensus Estimate; sees revs $215-230 mln vs $255.3
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