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Monthly Archives: June 2011

Kill the Small Guy

House republicans serve their corporate masters by proposing a bill to “take specific aim at much smaller programs funding local food, rural development, child nutrution, conservation, sustainable agriculture (SARE) and fair competition rules for meat producers.”

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Owners of Coal Companies Beware

some how i missed this article yesterday, but the EPA is proposing regulation that could cost coal companies many billions of dollars….

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Lupe Fiasco: “The Root Cause of Terrorism”

“My fight against terrorism, to me, the biggest terrorist is Obama in the United States of America. I’m trying to fight the terrorism that’s actually causing the other forms of terrorism. You know, the root cause of terrorism is the stuff the U.S. government allows to happen. The foreign policies that we have in place in different countries that inspire people to become terrorists.”
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Fun Times in Yemen

apparently were stepping up drone bombing campaigns….for extra added fun perhaps we will use some depleted uranium…

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Upgrades and Downgrades This Morning

Upgrades

CIB – Bancolombia S.A. initiated with an Underperform at Raymond James

UTX – United Tech initiated with Outperform at William Blair

ADSK – Autodesk initiated with Sector Perform at RBC Capital Markets

MMM – 3M initiated with Outperform at William Blair

CMTL – Comtech Telecom target lowered to $28 at Needham

NDAQ – NASDAQ upgraded to Buy at Stifel Nicolaus

BRFS – Brasil Foods S.A. downgraded to Underperform from Market Perform at Raymond James

ELN – Elan upgraded to Buy from Neutral at UBS

WTR – Aqua America initiated with a Buy at Ladenburg Thalmann

OAS – Oasis Petroleum upgraded to Outperform from Market Perform at Wells Fargo

ABB – ABB Ltd initiated with Outperform at William Blair

TYC – Tyco initiated with Outperform at William Blair

CRZBY – Commerzbank AG upgraded to Hold from Sell at Citigroup

CXO – Concho Resources upgraded to Buy from Neutral at Lazard

ZRAN – Zoran upgraded to Outperform at Wedbush

AIG – American Intl initiated with a Buy at Deutsche Bank

ODFL – Old Dominion upgraded to Buy from Hold at Citigroup

SEE – Sealed Air upgraded to Buy from Hold at Jefferies

WBMD – WebMD Health upgraded to Strong Buy from Outperform at Raymond James

INXN – InterXion initiated with a Buy at The Benchmark Company

Downgrades

RIMM – Research In Motion downgraded to Hold from Buy at Citigroup

ICO – International Coal downgraded to Hold at Dahlman Rose

FN – Fabrinet initiated with a Neutral at JP Morgan

WLL – Whiting Petroleum downgraded to Neutral at Ticonderoga

DIS – Walt Disney downgraded to Neutral from Buy at Davenport

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Gapping Up and Down This Morning

Gapping up

CNST +2%, ESIC +14.1%,TITN +7.1%, STO +1.7%, BP +0.9%, LFC +2.4%, AIG +4%, MW +1.2%, SEE +1.8%, GEF +1.0%, MW +0.9%, UHAL +4.3%, OAS +1.4%, ELN +5.1%, TOT +0.4%, RDS.A +1%,UHAL +4.3%, SJM +2.4%

Gapping down

FVE -7.2%, BRFS -1.0% PKT -3.2%, SEP -3.6%, AMLN -2.6%,

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Appeals court skeptical of Obamacare

(CNN) — A federal appeals court in Atlanta was openly skeptical Wednesday that the sweeping health care reform law championed by President Barack Obama would survive constitutional scrutiny.

A three-judge panel heard arguments in a massive lawsuit brought by Florida and 25 other states.

The 11th Circuit Court of Appeals was the latest of three similar federal panels across the country to hear challenges by states and private groups to the Patient Protection and Affordable Care Act. Separate rulings from those courts in coming months will form the basis of a certain appeal to the Supreme Court, which could offer the final word on the landmark legislation, perhaps in time for the 2012 election year.

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New jobless claims hold above 400,000

NEW YORK (CNNMoney) — The number of Americans filing for first-time unemployment benefits rose again and stayed above the 400,000 mark for the ninth consecutive week.

While a level below 400,000 is typically associated with payroll growth, claims have now topped this mark for the last nine weeks.

There were 427,000 initial jobless claims filed in the week ended June 4, the Labor Department said Thursday. That was up 1,000 from the week before, and slightly worse than the 423,000 claims economists surveyed by Briefing.com had expected.

Continuing claims — which include people filing for the second week of benefits or more — edged lower to 3,676,000 in the week ended May 28, a decline of 71,000 from the week before.

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U.S. increases covert strikes in Yemen

WASHINGTON — The Obama administration has intensified the covert U.S. war in Yemen, hitting militant suspects with armed drones and fighter jets, The New York Times reported late Wednesday.

The accelerated campaign has occurred in recent weeks as violent conflict in Yemen has left the government in Sanaa struggling to cling to power, the Times said.

The report, posted on the newspaper’s website, said Yemeni troops that had been battling militants linked to Al Qaeda in the south have been pulled back to the capital. American officials hope the strikes will help prevent militants from consolidating power.

A drone strike by U.S. special operations forces on May 5 targeted U.S.-born Al Qaeda cleric Anwar al-Awlaki, but a malfunction caused rockets to miss him by a matter of minutes, two U.S. officials told The Associated Press. The officials spoke on condition of anonymity to discuss intelligence matters.

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