Monthly Archives: February 2012
State of the Union: Can We Agree on Anything Anymore ?
Like baseballs in a batting cage, the controversies that divide us just keep on coming. Fast and unpredictable.
Last month it was the flap over the Susan G. Komen foundation and its move to cut financial support of Planned Parenthood. The resulting imbroglio dredged up deeply held convictionsamong Americans about women’s health issues and “cause marketing” that, in this case, has resulted in profits for companies promoting breast cancer awareness and research through pink and omnipresent product tie-ins.
This month it’s the Girl Scouts. Bob Morris, a state representative in Indiana, has created a kerfuffle by denouncing the Girl Scouts organization for “sexualizing young girls.” The campfire-building, cookie-selling sorority, he wrote in a letter to his state Legislature, “has been subverted in the name of liberal progressive politics and the destruction of traditional American family values.”
Next month it could be church bells, butterflies or baseball. There’s just no telling.
Do Americans disagree about everything? Are we such factious and fractious folks that we just naturally start arguing and choosing sides whenever something comes up? Are we always contentious, never content? Always warring, never loving? Have we reached such a pointed, poisoned, partisan point in our history that any topic, once it rises to the surface of national dialogue, triggers angry standoffs on Facebook and Twitter and everywhere else?
In fact, there are things Americans agree about. We will get to some of those shortly. But, as professional mediators say about conflict resolution, before we can talk about the resolution we must first identify the conflict. And, phew, we’ve got an abundance of conflict in this country.
‘Warring Tribes’
Because we don’t teach children or adults how to advocate constructively, much less how to collaboratively resolve differences, we continue to become more polarized and dysfunctional.
– Rhonda Hilyer, conflict resolution specialist
Half of Americans, according to a recent Gallup poll, believe the country’s economic system is unfair. The other half disagree. Half of Americans think the nation “achieved its goals in Iraq,” CNN reports. Half of Americans, the Christian Science Monitor notes, think we should attack Iran to stop its nuclear program. Half of Americans, according to a just-released USA Today poll, say President Obama “is too liberal, and Americans are inclined to say they disagree with him on the issues that matter most to them.”
Oh, the president’s favorable rating at the moment? Fifty percent, of course….”
Thomas Kee Jr. Makes the Case to Short Apple
Most Active Options Trades
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE KR 3/17/12 25.0000 20000 0.1700 dn 0.0300 GILD 4/21/12 50.0000 14352 1.0400 up 0.2800 GILD 4/21/12 47.0000 14191 2.1500 up 0.5700 BAC 3/2/12 8.0000 6555 0.1700 up 0.0200 AAPL 3/2/12 530.0000 5891 6.6500 up 2.7000 AAPL 3/2/12 535.0000 5274 3.9800 up 1.6500 MU 1/19/13 12.5000 5025 0.6300 up 0.1300 MSFT 3/17/12 31.0000 3518 0.9800 up 0.2500 BAC 3/17/12 8.0000 3320 0.3200 up 0.0200 WMB 4/21/12 29.0000 3295 0.9500 dn 0.0200 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE KR 3/17/12 22.0000 20400 0.1400 up 0.0100 KR 4/21/12 23.0000 20293 0.5500 up 0.0500 AAPL 3/2/12 530.0000 3098 4.1500 dn 3.5000 TGT 4/21/12 48.0000 2918 0.1100 dn 0.0300 AAPL 3/2/12 520.0000 2909 1.4300 dn 1.8700 AAPL 3/2/12 515.0000 2793 0.8500 dn 1.1300 AAPL 3/2/12 525.0000 2753 2.3900 dn 2.8600 AAPL 3/17/12 530.0000 2704 10.9500 dn 2.7500 VAC 7/21/12 20.0000 2625 0.8000 up 0.0000 BAC 3/2/12 8.0000 2525 0.0700 dn 0.0500 -VOLUME- CALLS PUTS TOTAL 970419 794671 1765090
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE AAPL 3/2/12 530.0000 572 6.4000 up 2.3000 BAC 3/2/12 8.0000 554 0.1800 up 0.0300 BAC 3/17/12 8.0000 513 0.3200 up 0.0400 GLD 3/17/12 173.0000 499 2.8900 up 0.8200 AAPL 3/2/12 540.0000 405 2.3100 up 0.9500 GLD 3/17/12 175.0000 301 2.2000 up 0.8300 BAC 3/17/12 7.0000 291 1.1700 up 0.1000 FAZ 3/2/12 25.0000 290 0.5500 dn 0.0600 AAPL 3/2/12 535.0000 235 4.1000 up 1.7000 NOK 3/17/12 6.0000 223 0.1100 up 0.0000 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE BAC 3/2/12 8.0000 687 0.0700 dn 0.0500 AAPL 3/2/12 520.0000 375 1.4200 dn 1.8300 AAPL 3/2/12 525.0000 253 2.4000 dn 2.5000 AAPL 3/2/12 530.0000 233 4.0500 dn 3.7000 APOL 8/18/12 45.0000 176 4.0000 up 1.7900 VALE 3/17/12 25.0000 171 0.5000 up 0.0800 AAPL 3/2/12 500.0000 168 0.3000 dn 0.1500 AAPL 3/17/12 530.0000 159 11.0000 dn 2.2500 SWN 3/17/12 32.0000 152 0.4800 up 0.1800 GLD 3/17/12 173.0000 150 2.2900 dn 1.0100 -VOLUME- CALLS PUTS TOTAL 46162 47887 94049Comments »
Market Update
The three major US equities indexes opened flat this morning following a poor report on durable goods orders (more coverage here) and a new low for the Case-Shiller home price index (more coverage here). The Conference Board’s consumer confidence index rose to 70.8 in February, well above expectations of 62.5, and that has stirred up some buying (more coverage here). Crude oil prices are also falling on the weakness in durable goods orders. In the first 45 minutes of trading, the DJIA is down about 1.3 points at around 12,980, the Nasdaq Composite is up 8 points at around 2,974, and the S&P 500 is up less than 1 point at around 1,368.
There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include the Alimera Sciences Inc. (NASDAQ: ALIM), Tibet Pharmaceuticals Inc. (NASDAQ: TBET), Office Depot Inc. (NYSE: ODP), Pacific Ethanol Inc. (NASDAQ: PEIX), and Apollo Group Inc. (NASDAQ: APOL).
Alimera is up about 67% at $3.85. Volume is already nearly 10x the daily average of about 256,000 shares traded. The eyecare drug maker received a positive outcome from a European regulatory body for its ILUVIEN treatment.
Tibet Pharma is up about 34% at $2.01. Volume is already 20x the daily average of 106,000 shares traded. The drug maker is being taken private by its CEO and chairman for $3/share.
Office Depot is up nearly 17% at $3.52. Volume is already higher than the daily average of around 4 million shares traded. The office supply retailer reported better-than-expected earnings and revenues this morning..
Pacific Ethanol is down more than -24% at $1.22. Volume is already nearly 1.5x the daily average of around 6.6 million shares traded. The ethanol maker’s reported earnings fell short of expectations last night. More coverage here.
Apollo Group is down nearly -11% at $45.80. Volume is already nearly 4x the daily average of around 1.8 million shares traded. The for-profit education company lowered its forecast for enrollment and earnings this morning.
Paul Ausick
Comments »Oil May Pose Demand Destruction Without Further Price Increases
Does The Durable Goods Orders Drop of 4% Show a Retreat in Economic Growth ?
Ireland to Hold Referendum on New EU Fiscal Treaty
“Ireland will hold a referendum on Europe’s new fiscal treaty, Prime Minister Enda Kenny said on Tuesday, setting the stage for the first popular vote on the German-led plan for stricter budget discipline across the region….”
Comments »The CME Group Gets Subpoenas in MF Global Probe
“CHICAGO (Reuters) – CME Group Inc has received two subpoenas from authorities investigating the collapse of futures broker MF Global, Holdings Ltd, the futures exchange operator said in a regulatory filing on Tuesday.
The requests for information and witnesses come from a grand jury in Chicago and from the U.S. Commodity Futures Trading Commission’s enforcement division, CME Group said in its annual financial filing with the Securities and Exchange Commission…”
Comments »{HOT VIDEO} Drive-In featuring Kate Upton for The Southwest Patty Melt at Carl’s Jr. and Hardee’s
FLASH: Quad-Core iPad 3 with 4G LTE to be Unveiled in New York Next Week
February Consumer Confidence: Prior 61.1, Market expects 62.5, Actual 70.8
Best read in a year
Comments »LOL – The American Petroleum Institute: Cutting Tax Breaks is Discriminatory…Besides We Do Not Receive Subsidies
State of the Union: Business as Usual
Yahoo Threatens Patent Lawsuits Against Facebook
“(Reuters) – Yahoo has demanded licensing fees from Facebook for use of its technology, the companies said on Monday, potentially engulfing social media in the patent battles and lawsuits raging across much of the tech sector.
Yahoo has asserted claims on patents that include the technical mechanisms in the Facebook’s ads, privacy controls, news feed and messaging service, according to a source briefed on the matter.
Representatives from the two companies met on Monday and the talks involved 10 to 20 of Yahoo’s patents, said the source, who was not aware of what specific dollar demands Yahoo may have made for licenses.
Yahoo did not elaborate in an emailed statement on details of its discussions with Facebook, but indicated it would not flinch at taking the social networking giant to court over its patents.
Yahoo said other companies have already licensed some of the technologies at issue, and that it would act unilaterally if Facebook refused to pay for a patent license.
“Yahoo has a responsibility to its shareholders, employees and other stakeholders to protect its intellectual property,” the company said…”
Comments »More Expensive Homes Have Taken Longer to Foreclose On
“Michael Underwood hasn’t made a full mortgage payment on his four-bedroom house in San Francisco’s East Bay area since early 2008. But he has yet to be evicted from the home, which includes a lagoon-style pool carved into the property’s natural sandstone.
The Alamo, Calif., home that he bought in 1999 is now worth about $1.05 million, less than the $1.58 million that he owes after refinancing several times.”
The FBI is Building Insider Trading Cases Against 120 People
“The U.S. Justice Department has charged more than 60 people during its three-year-long crackdown on insider-trading. But that, it seems is only the beginning.
Authorities are working to build cases against twice as many people still, with about 120 people in the crosshairs as targets, The Wall Street Journal reports. And that figure is just half of the 240 people that the government is investigating, hedge fund managers among them.
“We’ve identified them, and now of course we have to build a case around that,” the Federal Bureau of Investigation’s David Chaves said. The roughly 120 “subjects”—the half of those under investigation whom the Feds do not necessarily believe have broken the law—could be asked to assist in the investigation, Chaves, who heads one of the two teams running operation “Perfect Hedge,” added.
Federal prosecutors have won 57 convictions or guilty pleas. A total of 66 people have been charged with insider trading over the past two-plus years.”
Comments »Case Shiller Index Ends 2011 on the Lows; Fourth Consecutive Quarterly Down Tick
“Home prices fell in December for a fourth straight month in most major U.S. cities, as modest sales gains in the depressed housing market have yet to lift prices.
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The Standard & Poor’s/Case-Shiller home-price index shows prices dropped in December from November in 18 of the 20 cities tracked. The steepest declines were in Atlanta, Chicago and Detroit. Miami and Phoenix were the only cities to show an increase.
The declines partly reflect the typical slowdown that comes in the fall and winter.
Still, prices fell in 19 of the 20 cities in December compared to the same month in 2010. Only Detroit posted a year-over-year increase.
Prices have fallen 34 percent nationwide since the housing bust, to 2002 levels.”
Comments »U.S. Equity Preview: ZO, SYKE, SWN, PEIX, MU, LINE, HGSI, ERT, GTLS, AZO, & AMRS
Amyris Inc. (AMRS) : The biotechnology company reported a bigger fourth-quarter loss than analysts estimated in a Bloomberg survey.
AutoZone Inc. (AZO) rose 5.7 percent to $387. The auto- parts retailer reported second-quarter earnings excluding some items of $4.15 a share, beating the average analyst estimate of $4.04.
Chart Industries Inc. (GTLS) fell 4.5 percent to $62.45. The maker of equipment used to produce and store industrial gases said fourth-quarter earnings excluding some items were 51 cents a share, missing the average analyst estimate of 62 cents.
EResearchTechnology Inc. (ERT) (ERT US): The maker of gear to test heart abnormalities said profit in the fourth quarter was 14 cents a share, excluding some items, beating the average analyst estimate of 10 cents.
Human Genome Sciences Inc. (HGSI) : The drugmaker posted fourth-quarter revenue of $45.5 million, topping the average analyst estimate of $42.3 million.
Linn Energy LLC (LINE) : The natural gas exploration and production company agreed to buy Hugoton Basin properties in Kansas from BP Plc for $1.2 billion, to enter the largest U.S. conventional natural gas field.
Micron Technology Inc. (MU) rose 1.6 percent to $8.70. The largest U.S. maker of memory semiconductors is expected to emerge as the top winner from the bankruptcy of Elpida Memory Inc., whose filing yesterday sidelines the last Japanese maker of computer memory chips and gives rivals the chance to scoop up factories on the cheap.
Pacific Ethanol Inc. (PEIX) : The alternative fuel producer reported a fourth-quarter loss of 3 cents a share.
Priceline.com Inc. (PCLN) rose 7.5 percent to $636. The biggest U.S. online travel agency by market value reported fourth-quarter profit and sales that exceeded analysts’ estimates after expanding into more countries and taking business from rivals.
Southwestern Energy Co. (SWN) fell 4.1 percent to $33.89. The natural gas producer cut its 2012 production estimate and reported fourth-quarter earnings of 45 cents a share, missing the average analyst estimate of 47 cents.
Sykes Enterprises Inc. (SYKE) : The operator of call centers forecast full-year earnings of $1.20 a share at most, below the average analyst estimate of $1.46.
Yahoo! Inc. (YHOO) (YHOO US) rose 1.3 percent to $15.05. The U.S. web portal asked Facebook Inc. to license technologies covered by its intellectual property and threatened to take legal action if the companies don’t reach an agreement.
Zagg Inc. (ZAGG) : The distributor of electronics accessories reported fourth-quarter earnings of 27 cents a share, excluding some items, beating the average analyst estimate of 25 cents.
Comments »Gapping Up and Down This Morning
Gapping up
ERT +12.4%, TAT +12.2%, CTIC +10.6%, ZAGG +8.5%, PCLN +6.5%, HGSI +2.6%, WFT +2.5%, JAZZ +2.5%, ING +1.7%, RIO +1.7%, BBL +1%, DIS +0.9%,
PG +0.4%, YHOO +1.3, CTIC +10.6%, JASO +10.2%, BDSI +8.1%, TAT +19.7%, ALIM +47.2% , STM +5.9%, AIXG +4.7%, MU +2.1%, ROYL +1.7%,
STO +1.5%, DO +1.5%, EOG +0.9%, AUY +1.8%, SLV +1.4%, BBL +1.1%, GLD +0.7%, ING +1.7%, BAC +0.9%, HBC +0.8%, C +0.8%, KITD +5.4%, AZO +5.2%,
HOV +4.7%
Gapping down
PEIX -23.6%, DUF -7.2%, BIOF -7.1%, ARCI -5.6%, FRC -5%, SWN -4.9%, SINA -3.9%, OKS -3.6%, SYKE -2.5%, MAA -2%, LUFK -1.5%, SOHU -1.3%, ENOC -9.9%,
MAA -2% , CCL -1.2% , OKS -3.6%, TC -11.6%, APOL -8.1%, ARCI -5.6%
Comments »
