Will money managers become a thing of the past ? Outflows from equity funds continue and end up in ETFs and other not so heavily managed vehicles.
Comments »Monthly Archives: July 2011
Low Consumer Demand May Reflect a Growing “Poverty”
Poverty is a relative term given how you analyze the data. But for what it is worth it would appear that income and wealth are in serious check for many Americans despite a wonderful come back in the stock market. Obviously, home prices are adding to those “poverty” woes.
Comments »Here is Why the Economy is Sputtering
Debt deflation is slowing our economy down…. coupled with how employment distribution has been running we may suffer more downside in the economy than most currently expect.
Since the 60’s monetary and fiscal policy have re spurred growth, but not necessarily in the best way for all of the country.
Comments »Municipalities Feel the Pinch as Property Tax Revenues Fall
Sorry I missed this article last week.
Property tax revs take in 25% of most municipality revenues.
Tax revs have fallen 3% since Q4 of 2010 and 1.7% in Q1 of 2011….
Comments »The Bow-Tie Expects QE3 to Launch in Q3
“It’s the wrong thing to do but that’s all they [US policymakers] know to do. They are not very smart people so you better own commodities,”
“They will see things not getting better and will do what they do.”
Comments »Money Managers Dump BAC as Earnings Reflect Future Troubles
Upgrades and Downgrades This Morning
Upgrades
IBM – IBM target raised to $210 from $187 at Stifel Nicolaus
NOK – Nokia upgraded to Neutral from Reduce at WestLB
BMY – Bristol-Myers initiated with an Outperform at Credit Agricole
AMD – Advanced Micro resumed with a Outperform at Wedbush
NFLX – Netflix target raised to $360 at Oppenheimer
AIXG – Aixtron upgraded to Buy at Kaufman
THOR – Thoratec initiated with an Outperform at Credit Suisse
CHKP – Check Point Software target raised to $68 at Needham
NLY – Annaly Capital Mgmt initiated with a Market Perform at Wells Fargo
USG – USG downgraded to Sector Perform from Outperform at RBC Capital Markets
IVR – Invesco Mortgage Capital initiated with an Outperform at Wells Fargo
ISLE – Isle of Capri initiated with Buy at Janney
Downgrades
SMG – Scotts Miracle-Gro downgraded to Market Perform from Outperform at BMO Capital
FIO – Fusion-io initiated with an Outperform at Credit Suisse
USG – USG downgraded to Sector Perform from Outperform at RBC Capital Markets
ALL – Allstate downgraded to Neutral from Outperform at Macquarie
MTG – MGIC Investment target lowered to $9 at FBR Capital
VNO – Vornado Rlty Trust initiated with a Neutral at Credit Suisse
HTWR – HeartWare initiated with a Neutral at Credit Suisse
LNTR – Lincare target raised to $32 at Oppenheimer
AN – AutoNation downgraded to Underperform from Market Perform at Wells Fargo
Comments »Gapping Up and Down This Morning
Gapping Up
AMZN +1%, IBM +1.6%, RBS +3.4%, EPD +1.6%, FFN +2.4%, KOG +2.4%, MPEL +2.1%, BHP +1.7%,
BB+1.6%, CA+1.4%UBS+1.6%,D+3%, STD+2.2%, PQ +4.8%, BCS +3.9%, LYG +3.8%, STLD +3.7%, MGM +2.8%, WYNN +2.5%,
BBVA +2%, BIDU +0.9%, CDTI +17.6%, NOK +2.6%, EXAR +11.7%, PQ +4.8%, FFN +2.4%, NBG +4.1%, EK +5.2%, PII +5.4%, KEY +4.4%, STLD +3.7%, NVS +3%, WYNN +2.5%, MOS +2.3%, IBM +1.6%, KO +1.3%,
Gapping Down
SBLK -11.4%, PLOW -3.2%, NBS -3%, AVY -8.1%, LNCR -3.8%,
Comments »In Play and On the Wires
Harley Davidson Posts $0.81 EPS vs Consensus of $0.71 on $1.34 Billion in Revenues
Ride that heavy metal people….
Harley achieved its results through cost cutting and renegotiating labor contracts.
Comments »Vows Mean Nothing to Banks: Robo Signing Continues
When will you learn. Liars and cheats wil remain so until you put them in check, create regulations, or throw them in jail.
Comments »J&J Beats The Street Reporting $1.28 EPS vs $1.21 a Year Ago
Coca-Cola Beats The Street; EPS of $1.20 vs $1.02 a year ago
Goldman Sachs Misses Earnings by a Country Mile
Housing Starts: Prior 560k, Mkt Expects 570k, Actual 629k or Up 14.6%
Permits up to 624k. Best # since January which posted 636k. Rates sell off slightly.
Comments »EU Requests Banks Should Triple Reserve Capital to Prevent Insolvency
Lenders face a law that may require them to raise close to $600 bn in capital by 2019
Comments »Accounting Fraud Creates Rising Bond Spreads for Chinese Companies
Asian Markets Fail to Pare Losses
Oil Rallies on Shrinking U.S. Supplies
European Shares Open Moderately Higher; Futures Rally
Led by banks, European shares are higher by about 0.4% on average.
S&P futs are at session highs, +6.
Comments »
