CLP finishes asset swap deal; Cain Thaler has erection

God, yes…

BIRMINGHAM, Ala.–(BUSINESS WIRE)– Colonial Properties Trust (NYSE:CLP – News), announced the completion of multiple transactions under its multifamily asset recycling strategy. The company completed the sale of six apartment communities for total proceeds of $105.8 million and acquired three apartment communities for a total of $93.5 million. The transactions enhance the multifamily portfolio by lowering the average age, increasing operating margins and average rent per unit, reducing capital expenditure requirements and improving the long-term growth profile.

The acquired properties include: the 278-unit Colonial Reserve at Medical District (formerly Cityville at Southwestern Medical District) in Dallas/Ft. Worth, Texas; the 316-unit Colonial Village at Beaver Creek (formerly Creekside Hills) in Raleigh, North Carolina; and the 312-unit Colonial Grand at Commerce Park (formerly Alexon Wellborn) in Charleston, South Carolina. The three apartment communities have an average age of 3.7 years.

The company sold the following properties: the 250-unit Colonial Grand at Sugarloaf and 434-unit Colonial Grand at McGinnis Ferry in Atlanta, Georgia; the 250-unit Colonial Village at Meadow Creek in Charlotte, North Carolina; and the 232-unit Summer Tree, 232-unit Brookfield and 328-unit Paces Cove apartment communities in Dallas/Ft. Worth, Texas. The six properties have an average age of 21.8 years.

“The agreement we disclosed in late July has allowed us to fund attractive multifamily acquisition opportunities through the sale of certain older multifamily assets,” noted Thomas H. Lowder, Chairman and Chief Executive Officer. “This transaction is consistent with our strategy of upgrading the multifamily portfolio.”

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No. Ticker Inst. Holdr. (% outstanding) Institutional Holder 3-month Return
1 RF 9.84 FAIRHOLME CAPITAL MANAGEMENT -42.08
2 MS 2.52 FAIRHOLME CAPITAL MANAGEMENT -37.49
3 JEF 2.04 FAIRHOLME CAPITAL MANAGEMENT -36.01
4 C 0.83 FAIRHOLME CAPITAL MANAGEMENT -35.82
5 RRR 11.42 FAIRHOLME CAPITAL MANAGEMENT -33.59
6 LUK 7.65 FAIRHOLME CAPITAL MANAGEMENT -30.76
7 CIT 9.68 FAIRHOLME CAPITAL MANAGEMENT -27.76
8 JOE 28.86 FAIRHOLME CAPITAL MANAGEMENT -26.77
9 GS 1.19 FAIRHOLME CAPITAL MANAGEMENT -25.69
10 WCG 8.39 FAIRHOLME CAPITAL MANAGEMENT -25.49
11 STD 0.06 FAIRHOLME CAPITAL MANAGEMENT -24.59
12 FUR 4.06 FAIRHOLME CAPITAL MANAGEMENT -23.82
13 GGP 9.06 FAIRHOLME CAPITAL MANAGEMENT -23.79
14 TAL 4.78 FAIRHOLME CAPITAL MANAGEMENT -23.00
15 AIG 5.44 FAIRHOLME CAPITAL MANAGEMENT -22.41
16 SPR 9.31 FAIRHOLME CAPITAL MANAGEMENT -20.00
17 SHLD 15.21 FAIRHOLME CAPITAL MANAGEMENT -19.95
18 MBI 23.80 FAIRHOLME CAPITAL MANAGEMENT -13.94
19 HUM 2.06 FAIRHOLME CAPITAL MANAGEMENT -6.87

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No. Ticker % Change Market Cap
1 LPL 12.18 7,210,000,000
2 ING 10.35 31,440,000,000
3 CS 7.30 33,190,000,000
4 PHG 7.05 19,940,000,000
5 DB 6.92 36,050,000,000
6 TI 6.72 23,260,000,000
7 UBS 6.22 52,640,000,000
8 STD 6.07 55,580,000,000
9 TTM 5.24 10,410,000,000
10 HIG 5.18 8,650,000,000
11 AEG 5.13 8,240,000,000
12 ABB 5.11 47,150,000,000
13 AV 5.02 15,520,000,000
14 BCS 4.53 29,960,000,000
15 MT 4.24 32,710,000,000
16 BBVA 4.23 40,090,000,000
17 LYG 4.21 43,320,000,000
18 CNP 4.11 8,330,000,000
19 AON 4.07 15,400,000,000
20 E 4.07 68,150,000,000
21 RCL 4.03 5,600,000,000
22 CRH 4.02 12,100,000,000
23 KEY 3.97 6,430,000,000
24 NOK 3.96 22,930,000,000
25 MS 3.95 33,390,000,000
26 AFL 3.84 17,020,000,000
27 ALL 3.74 13,010,000,000
28 IX 3.74 9,580,000,000
29 MET 3.62 35,230,000,000
30 LNC 3.59 6,480,000,000
31 SI 3.57 90,430,000,000
32 MFC 3.52 24,320,000,000
33 STI 3.49 10,540,000,000
34 FTE 3.41 50,570,000,000
35 TSN 3.38 6,570,000,000
36 TEF 3.37 93,220,000,000
37 VE 3.34 8,350,000,000
38 PGR 3.33 12,140,000,000
39 HDB 3.30 24,230,000,000
40 PRU 3.30 24,380,000,000
41 KB 3.29 13,970,000,000
42 FMX 3.25 24,130,000,000
43 BF-B 3.16 10,630,000,000
44 MFG 3.14 64,270,000,000
45 BT 3.10 21,510,000,000
46 MAR 3.06 10,260,000,000
47 BBT 2.96 14,320,000,000
48 LLL 2.93 6,940,000,000
49 SHG 2.92 19,220,000,000
50 USB 2.91 44,510,000,000

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This doesn’t look like an +200 day.

No. Ticker % Change Industry
1 CAGC.PK -31.25 Chinese Burritos
2 RCON -16.35 Chinese Burritos
3 SINA -13.38 Chinese Burritos
4 FMCN -10.97 Chinese Burritos
5 SOHU -9.83 Chinese Burritos
6 EDU -9.21 Chinese Burritos
7 BIDU -8.16 Chinese Burritos
8 YOKU -7.95 Chinese Burritos
9 XNY -7.33 Chinese Burritos
10 SCEI -7.08 Chinese Burritos
11 CIS -6.97 Chinese Burritos
12 TUDO -6.38 Chinese Burritos
13 SCOK -5.88 Chinese Burritos
14 TAOM -5.54 Chinese Burritos
15 SEED -5.45 Chinese Burritos
16 CIIC -4.95 Chinese Burritos
17 JOBS -4.64 Chinese Burritos
18 CCIH -4.62 Chinese Burritos
19 NQ -4.58 Chinese Burritos
20 CTRP -4.48 Chinese Burritos
21 CCSC -4.17 Chinese Burritos
22 CNAM -4.12 Chinese Burritos
23 SNDA -4.10 Chinese Burritos
24 DHRM -4.07 Chinese Burritos
25 NTES -4.07 Chinese Burritos
26 LIWA -3.67 Chinese Burritos
27 NEWN -3.11 Chinese Burritos
28 YONG -3.07 Chinese Burritos
29 ONP -3.04 Chinese Burritos
30 FENG -2.97 Chinese Burritos
31 CAAS -2.97 Chinese Burritos
32 OINK -2.76 Chinese Burritos
33 VISN -2.66 Chinese Burritos
34 DATE -2.63 Chinese Burritos
35 OSN -2.61 Chinese Burritos
36 PWRD -2.38 Chinese Burritos
37 SVA -2.17 Chinese Burritos
38 ASIA -2.12

Data provided by The PPT

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TLT is +0.55%

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Intra-day losses for stocks over $1 bill

No. Ticker % Change Market Cap
1 AMD -10.89 4,380,000,000
2 FOSL -9.32 6,460,000,000
3 FAZ -8.34 1,209,974,941
4 FMCN -8.20 4,360,000,000
5 NFLX -8.13 11,820,000,000
6 YOKU -7.95 2,870,000,000
7 WYNN -7.88 18,240,000,000
8 SINA -7.66 6,430,000,000
9 EW -7.61 8,580,000,000
10 DVA -7.41 6,720,000,000
11 SCO -6.83 2,528,487,273
12 BIDU -6.20 46,650,000,000
13 LVS -5.98 33,380,000,000
14 SFY -5.69 1,270,000,000
15 TIF -5.67 9,130,000,000
16 MOS -5.46 32,440,000,000
17 SOHU -5.40 3,040,000,000
18 MPEL -5.04 6,680,000,000
19 COH -5.04 15,200,000,000
20 VRA -4.91 1,210,000,000
21 IVN -4.76 15,380,000,000
22 WNR -4.63 1,570,000,000
23 GMCR -4.57 15,110,000,000
24 CRR -4.47 3,330,000,000
25 PCLN -4.22 25,930,000,000
26 MAKO -4.17 1,450,000,000
27 HFC -3.84 7,590,000,000
28 PIR -3.78 1,280,000,000
29 YGE -3.74 1,010,000,000
30 WLT -3.60 5,200,000,000
31 EXPE -3.57 8,020,000,000
32 DECK -3.54 3,210,000,000
33 FNSR -3.54 1,510,000,000
34 YNDX -3.36 9,800,000,000
35 ACTG -3.32 1,670,000,000
36 TPX -3.32 3,910,000,000
37 CROX -3.27 2,430,000,000
38 EDU -3.26 4,160,000,000
39 CBS -3.25 15,550,000,000
40 AMRN -3.24 1,420,000,000
41 IMAX -3.21 1,140,000,000
42 FDO -3.04 5,890,000,000
43 NTES -2.91 6,230,000,000
44 SWKS -2.87 3,870,000,000
45 RL -2.83 12,400,000,000
46 IDCC -2.82 3,250,000,000
47 YUM -2.76 25,080,000,000
48 GTE -2.69 1,730,000,000
49 NXPI -2.68 4,270,000,000
50 ARIA -2.64 1,170,000,000

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Shocker. I love how the Obama Administration then accuses the study of “looking backwards.”

Yeah, dipshits, that’s kind of the point of a study.

The signature legislation of the Obama Administration, the Affordable Care Act, came under damaging assault Wednesday from a Kaiser Family Foundation survey that found it has already partially contributed to increasing health care costs.

The Kaiser survey helps to shed some light on why so few employers are hiring, as health care costs for employers are spiraling upwards.

The survey found that insurance premiums rose by 9 percent in 2011. Healthcare costs for a single worker went up on average from $5,049 to $5,429, and for a family, costs rose from $13,770 to $15,073, on average.

The survey also found that some provisions of the Affordable Care Act already in place — including the allowance for young people up to 26 years of age to remain on their parents insurance policy — contributed to 20 percent of that increase.

But other factors are also contributing to the rising costs of health care. They include the prices of new technologies, research and development for new prescription drugs and the proliferation of chronic diseases like diabetes.

The aging of the baby boom generation is also placing a tremendous strain on the health care system, as baby boomers have begun qualifying for Medicare this year. The survey found that with better treatments and drugs, they may live longer than previous generations and impose huge costs on the system as they age.

The White House, seeking to limit damage from the report, issued a statement on its blog in advance of the reports’ release, accusing it of, “looking backwards.”

“When we look to the future we know that The Affordable Care Act will help make insurance more affordable for families and businesses across the country, ” wrote Nancy- Ann DeParle, the White House Deputy Chief of Staff.

White House spokesman Jay Carney later defended the provision of the Affordable Care Act allowing 26-year-olds to stay on their parents insurance policies. “That has already had this tremendous impact on young people in America, which we obviously think is very positive,” he said. Most other provisions of the Affordable Care Act will not take effect until 2014.

The survey suggests that if costs are going to come down, people will need to live healthier lives. Health information technology will need to be improved, as will efficiency. The survey also calls for greater consumer involvement in health care such as those provided in health reimbursement accounts, where employers contribute to a health account managed by the employee. But the report also acknowledged deep political differences over those accounts, as well as over other proposed solutions.

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Ouch!!!

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You think volatility goes away when the market bottoms; wrong.

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Full review

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Upgrades

PDS – Precision Drilling upgraded to Buy from Hold at Desjardins

EMN – US Chemicals initiated at Credit Agricole

FTI – FMC Tech resumed with a Hold at Stifel Nicolaus

SQM – Sociedad Quimica y Minera upgraded to Outperform from Neutral at Credit Suisse

KKR – KKR initiated with a Buy at Sterne Agee

BX – Blackstone initiated with a Neutral at Sterne Agee

DRC – Dresser-Rand resumed with a Hold at Stifel Nicolaus

MGLN – Magellan Health initiated with a Buy at BB&T

AEM – Agnico-Eagle Mines initiated with an Overweight at HSBC

OKE – ONEOK upgraded to Outperform from Market Perform at Wells Fargo

CLS – Celestica initiated with a Market Perform at BMO Capital

NWE  – NorthWestern upgraded to Buy from Neutral at Ladenburg

Downgrades

DVA – DaVita downgraded to Hold from Buy at Citigroup

AIXG – Aixtron target lowered to $22 at Kaufman Bros

GS – Deutsche Bank lowers their estsimates

AMD – Advanced Micro downgraded to Underperform from Neutral at Macquarie

ITRI – Itron target lowered to $22 at Wunderlich

VECO – Veeco Instruments target lowered to $40 at Kaufman Bros

MIPS – MIPS Tech downgraded to Hold at The Benchmark Company

OLN – Olin downgraded to Neutral from Positive at Susquehanna

ALR – Alere downgraded to Neutral from Outperform at Mizuho

MS – Deutsche Bank lowers their estsimates

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Gapping Up

DB +6.8%, UBS +4.6%, BCS +4.4%, NOK +4.1%, STD +5.6%, CS +4.9%, ING +4.3%, MT +3.5%, SLV +2.9%, TOT +2.8%,

CEO +2.4%, BHP +1.7%, HPQ +1.3%, BBY +1.1%, BP +1%, TWI +3%, NOK +4.1%, EK +3.2%, WLL +3.1%, HBC +2%, MT +2.2%, GLD +0.5%,

CEO +2.4%, RIG +1.9%, TOT +1.7%, OKS +2%,  LAYN +1%,  FTI +2%, SDRL +1.4%, FRO +4.2%,

Gapping Down

WOR -2.2%, MOS -1.7%, ITRI -2.8%, AMD -10.4%, EW -3.6%, BDSI -54.2%TXI -2.4%,

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In Play

On  the wires

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3% this year and 2.9% next year

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Had to laugh at this article

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Not sure anyone cares, but Swiss and French banks are on the hook for Eastern block debt….

Full article

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Really

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Commodities and currencies had little correlation overnight….

Commodities

Currencies 

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Gold then pared gains and trades down $3.50 @ $1,614.7

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