France, Germany, and Italy lead European boards down the most….
Comments »Monthly Archives: May 2012
So Much For Decoupling
Yesterday was the calm before the storm. Perhaps this is the sell in May and go away scenario playing out. You had to wonder how long the markets could remain resilient in the face of bad news on multiple fronts.
[youtube://http://www.youtube.com/watch?v=edLhkzAynY4 450 300] Comments »These 50 Stocks Are Receiving a Severe ‘FACEPUNCH’
US Postal Services Requires $34B Bailout
What really infuriates me about this is that I remember last summer, when the debt limit was being argued over, and every Democrat was insistent that the US Postal Service was off limits because their budget was, I quote, “separate from the US budget.”
How separate are they now?
The U.S. Postal Service is often the butt of jokes, but there’s nothing funny about the agency’s bottom line.
The USPS is losing up to $25 million dollars a day. Until now, taxpayers have not been on the hook for its mounting losses, but that could be about to change. A bailout recently approved by the Senate would appropriate $34 billion in federal money.
“If the post office was a business, it would be in bankruptcy,” said Rep. Dennis Ross, R-Fla. “It’s insolvent.”
Ironically, however, Congress shares much of the blame. For years, the Postal Service begged Washington for the freedom to cut its own budget by closing post offices and cutting employees. But Congress, under pressure from rural constituents and labor unions, prevented the cuts, and the service continued to bleed red ink.
In December, the USPS said it wanted to close more than half of its mail processing centers, eliminate 28,000 jobs, end overnight delivery of first-class mail, close 3,700 local post offices and end Saturday delivery.
The Senate said no, prohibiting the Postmaster General from taking those actions altogether, or delaying them for two to three years.
For the time being, the Postal Service has a moratorium on office closings — but that moratorium expires on May 15, absent an elusive compromise between the House and Senate.
Read more:
Comments »Greek Leader Tsipras Lays Out Agenda
Athens, Greece (CNN) — Greek leftist leader Alexis Tsipras on Tuesday laid out the radical agenda he hopes to pursue if he becomes prime minister, including the cancellation of severe budget-cutting measures forced on the country by international lenders.
Laws which cut pensions and salaries and those which “cancel basic workers’ rights” must be annulled, Tsipras said as he started efforts to form a governing coalition in the wake of parliamentary elections on Sunday.
He also called for state control of the banks, which “remain in the hands of the managers who bankrupted the system,” he said.
The Greek people voted clearly to reject the austerity demanded by international lenders, Syriza Party leader Tsipras said.
The two parties that made the agreement with international lenders “don’t have a majority any more to vote for the plundering of the Greek people,” Tsipras told lawmakers.
Tsipras met Greek President Karolos Papoulias earlier on Tuesday to get instructions to try to cobble together a government in the wake of elections that left the country’s political system in chaos.
Syriza will have three days to form a government.
Read more here:
Comments »Gold Dips to $1600 As China Imports Surge 587%
52 Week Highs and Lows
NYSE
New Highs 18 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ BlackRock NY Municipal Tr BNY 16.54 951 Church & Dwight CHD 52.49 51,772 Everest Re RE 101.45 14,485 Fedl Ag Mtge Corp Cl B AGM 25.60 3,800 First Republic Bk Pfd A FRCpA 26.53 1,847 Hercules Tech Nts 2019 HTGZ 25.25 1,500 Invesco VK PAValMun VPV 15.19 4,407 NV Engy NVE 17.38 1,230,755 National Grid NGG 54.52 20,377 Nuveen NJ Premium Income NNJ 15.98 8,753 PionrMuniAdv Tr MAV 15.55 6,161 Post Properties PPS 49.56 38,522 Prudentl Sh Dur Hi Yd Fd ISD 20.14 6,230 Putnam Muni Opportunities PMO 12.90 3,440 TX Pacific Land Tr TPL 61.51 3,741 Textainer Group Hldg TGH 36.20 13,797 TransDigm Group TDG 132.69 71,868 Vitamin Shoppe VSI 50.64 292,604 New Lows 43 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ ASA Gold & Prec Metals ASA 22.36 14,460 Alumina ADS AWC 4.02 88,554 Barrick Gold ABX 36.69 1,268,887 Best Buy BBY 20.09 402,773 CARBO Ceramics CRR 80.43 10,004 Checkpoint Sys CKP 8.40 23,611 Christopher & Banks CBK 1.65 23,755 Coeur D'Alene CDE 18.33 226,229 Dolan DM 6.49 18,878 Ducommun DCO 9.83 14,300 Edgen Group Cl A EDG 8.16 3,230 EldoradoGold EGO 12.26 620,678 Enerplus ERF 17.10 216,977 GFI Group GFIG 2.98 24,579 Genco Shipping Trading GNK 4.03 72,318 Goldcorp GG 34.75 786,967 Hecla Mining HL 3.82 623,740 Hill Intl HIL 3.10 11,941 IamGold IAG 10.76 300,177 Ivanhoe Mines IVN 9.90 441,737 Jaguar Mining JAG 2.17 58,580 Kinross Gold KGC 8.01 919,791 Memc Elec Materials WFR 3.26 313,333 Mechel OAO MTL 7.26 195,980 Moneygram Intl Inc MGI 15.23 1,925 Newmont Mining NEM 44.50 1,047,627 No Amer Engy Ptnrs NOA 3.54 8,080 Nuveen Glbl Val Opp Fd JGV 15.04 8,028 Pacific Coast Oil Trust ROYT 19.55 45,900 Panasonic Cp PC 7.11 40,625 Petrobras Argentina ADS PZE 10.41 6,863 Phillips 66 PSX 28.75 1,311,914 Pitney Bowes PBI 15.11 1,231,938 RadioShack RSH 4.91 195,431 Resolute Energy wt REN/WS 0.87 5,200 Seabridge Gold SA 14.59 72,868 Sony Corp ADS SNE 15.04 117,113 STMicroelec STM 5.33 266,341 Telecom Argentina TEO 13.11 28,449 Thompson Creek Metals TC 4.30 1,780,251 Vale Cap II 6.75% CJS 56.70 5,780 Vanguard Health Systems VHS 8.45 11,210 Xerium Tech XRM 4.14 3,750
NASDAQ
New Highs 21 COMPANY SYMBOL HIGH VOLUME ------- ------ ---- ------ Ada-es ADES 28.99 22,090 Amer Cap Agency Pfd A AGNCP 25.60 470 Arena Pharmaceuticals ARNA 3.49 12,079,411 Aware AWRE 7.50 50,824 BofI Hldg BOFI 18.94 2,950 CaesarStone SdotYam CSTE 13.88 73,950 Carmike Cinemas CKEC 15.41 86,724 Carrols Restaurant Group TAST 5.28 60,879 China Growth Eqty Inv Wt CGEIW 0.60 2,100 Churchill Downs CHDN 61.47 13,676 CommVault Systems CVLT 55.49 273,055 Homeownrs Choice HCII 15.48 6,737 Kingold Jewelry KGJI 2.84 550,998 MidWestOne Fincl Group MOFG 22.20 5,525 MutualFirst Fincl MFSF 11.42 8,691 NASB Fincl NASB 18.46 600 PDI PDII 8.87 700 PhotoMedex PHMD 17.25 10,255 Reading Intl A RDI 5.42 1,024 Span-America Medical Sys SPAN 18.00 3,019 Vertex Pharm VRTX 61.73 2,999,816 New Lows 42 COMPANY SYMBOL LOW VOLUME ------- ------ ---- ------ APCO Oil and Gas APAGF 28.88 100 Amyris AMRS 2.30 39,961 Atmel ATML 7.23 602,821 Blue Nile NILE 27.69 26,445 Carbonite CARB 7.03 9,067 China Valves Technology CVVT 1.76 53,170 Compressco Partners GSJK 12.17 1,100 Cypress Semi CY 13.50 411,591 Daktronics DAKT 7.70 740 RR Donnelley RRD 11.01 266,369 Electronic Arts EA 14.25 2,502,265 Ezcorp (Cl A) EZPW 25.18 8,910 Fiesta Restaurant Group FRGI 10.95 21,343 Flir Systems FLIR 21.32 42,449 GT Advanced Technologies GTAT 6.18 88,635 Home Inns & Hotels Mngmt HMIN 22.00 85,068 iRobot IRBT 21.51 36,220 iSh MSCI Emg Mkts Value EVAL 48.40 100 James River Coal Co JRCC 3.87 117,262 Knightsbridge Tankers VLCCF 11.66 10,116 Lincoln Educational Svcs LINC 6.30 9,452 ManTech Intl (Cl A) MANT 24.43 75,845 Merge Healthcare MRGE 2.73 548,984 Oclaro Inc OCLR 2.51 33,503 Peerless Manufacturing Co PMFG 11.94 4,908 Pan American Silver PAAS 16.81 196,371 Planar Systems PLNR 1.69 24,608 Polycom PLCM 12.01 94,154 PwrShs Gbl Gld & Prec Mtl PSAU 33.90 100 Quality Systems QSII 32.38 141,762 QuinStreet QNST 7.91 10,108 Research in Motion RIMM 11.67 2,280,314 Rimage RIMG 8.58 500 STEC STEC 7.90 35,163 ShoreTel SHOR 4.20 26,348 Sify Techs (ADS) SIFY 2.58 19,179 Synchronoss Techs SNCR 20.74 601,890 Tecumseh Products A TECUA 3.22 29,387 Telestone Techs TSTC 2.76 1,406 Tellabs TLAB 3.63 110,085 Global Investors GROW 5.66 10,050 Wet Seal (Cl A) WTSLA 2.94 182,726Comments »
Today’s Heat Map and A/D Lines
Most Active Options Trades
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE ARNA 5/19/12 4.0000 4343 0.8400 up 0.2500 BAC 5/11/12 8.0000 2414 0.0800 dn 0.0400 SPY 5/19/12 135.0000 1832 2.4400 dn 0.6200 SPY 5/19/12 139.0000 1734 0.4900 dn 0.2700 SPY 5/19/12 140.0000 1639 0.2900 dn 0.1500 SPY 5/11/12 137.0000 1631 0.6200 dn 0.4300 ARNA 7/21/12 7.0000 1576 0.4800 up 0.1200 SPY 5/11/12 136.0000 1518 1.1700 dn 0.5300 SPY 5/19/12 138.0000 1497 0.8400 dn 0.3200 SPY 5/19/12 137.0000 1443 1.2400 dn 0.4600 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE SPY 5/19/12 136.0000 5443 1.5200 up 0.3100 SPY 5/19/12 137.0000 5382 2.0000 up 0.4100 ARNA 5/19/12 4.0000 4310 1.6400 dn 0.2500 SPY 5/11/12 133.0000 3520 0.2100 up 0.0500 SPY 5/19/12 139.0000 2615 3.2700 up 0.6100 SPY 6/16/12 138.0000 2581 4.3200 up 0.5800 SPY 5/11/12 136.0000 2571 0.8800 up 0.2500 SPY 5/11/12 134.0000 2274 0.3700 up 0.1400 MAKO 11/17/12 30.0000 2037 6.9000 up 4.1500 SPY 6/16/12 135.0000 1654 2.9000 up 0.3900 -VOLUME- CALLS PUTS TOTAL 270189 255910 526099
-CALLS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE ARNA 7/21/12 7.0000 491 0.4500 up 0.0900 ARNA 5/19/12 4.5000 392 0.6800 up 0.3000 GLD 5/19/12 158.0000 373 0.8700 dn 1.3000 AMZN 5/19/12 205.0000 315 19.1000 dn 1.7900 X 5/11/12 31.0000 200 0.0200 dn 0.0300 GM 5/11/12 25.0000 200 0.0100 dn 0.0100 HPQ 6/16/12 24.0000 146 0.7000 dn 0.2100 HPQ 5/19/12 24.0000 146 0.2300 dn 0.1800 EA 5/19/12 15.0000 142 0.2200 dn 0.6500 DNDN 5/19/12 14.0000 126 0.0900 dn 0.4200 -PUTS- OPTION EXP.DATE STRIKE PRC. VOLUME LAST S/PRC. NET CHANGE EA 5/19/12 13.0000 349 0.1200 dn 0.0400 X 5/11/12 22.0000 200 0.0200 dn 0.0200 GM 5/11/12 19.0000 200 0.0100 dn 0.0200 ARNA 5/19/12 1.5000 173 0.2200 dn 0.0700 DNDN 5/11/12 9.0000 138 0.3300 up 0.0100 ARNA 5/19/12 3.0000 132 0.9800 dn 0.2100 AAPL 5/11/12 530.0000 128 0.3900 up 0.1900 AAPL 5/11/12 535.0000 127 0.5100 up 0.0500 PCX 6/16/12 4.0000 123 0.1200 dn 0.0700 X 6/16/12 28.0000 104 2.6000 up 0.1900 -VOLUME- CALLS PUTS TOTAL 20165 33219 53384Comments »
Code Pink Questions Brennan on Drone Killings
[youtube://http://www.youtube.com/watch?v=qZsfKJc4Tgg 450 300]
Comments »America’s Fortune 500 Post a New Record in Profits; $824.5 Billion
Increased productivity and inventory controls have helped the largest companies book record profits. Per diem work, underpay, avoiding healthcare, pensions, and a living wage has put companies on the map and a feather in the cap of “capitalism.”
Comments »Despite Having Insurance Healthcare Access Falls Since 2000
“Even having good health insurance is no guarantee of getting the best health care. Ashlie Hubbard learned this the hard way after the birth of her daughter, who has special needs.”
Comments »This Just in from the Land of Sodomy: New Greek Leader Calls Bailout ‘Null’ by ‘Popular Edict’
At a press conference in parliament, Alexis Tsipras has said that the country’s commitment to an EU/IMF rescue deal has become null after voters rejected pro-bailout parties in Sunday’s election. “The popular verdict clearly renders the bailout deal null.”
He said said that Antonis Samaras and Evangelos Venizelos must take back their written support for the memorandum – by writing a letter to Brussels informing them of this. He presented his policy platform which he said was based on 5 pillars:
1. Immediate begation of the memorandum
2. Negation of all coming measures that will affect all aspects of employment law
3. Immediate changes to election legislation and negation of the ministerial culpability law
4. State control of banks
5. The creation of an international auditing body, with the purpose of finding a serious and logical solution to Greece’s debt repayment.
He once again extended his hand to all powers of the left, praising KKE’s position on protecting the unemployed and said that he still aimed at forming a government with all parties supporting leftist and eco-friendly ideology.
He noted that the formation of a coalition government with New Democracy and Pasok, was not possible for they were not looking at saving the nation, but saving the memorandum.
Comments »More Regulation is the Answer to Obesity
All we need is more regulation and taxes. If regulation is to be proposed then we should ban the purchase of junk foods with food stamps imo…
Comments »FLASH: EUROPEAN SOVEREIGN BOND YIELDS DECLINE, DESPITE RISK-OFF MODE
It’s worth noting, the bearish sentiment has not resulted in higher borrowing costs in Europe this morning.
Comments »
FLASH: SHARES OF FOSL ARE BEING CLOWN-RAPED POST LARGE EARNINGS MISS
Comments »
Richmond Fed President: More Easing Won’t Fix Unemployment, May Fuel Inflation
“Federal Reserve Bank of Richmond President Jeffrey Lacker said much of U.S. unemployment results from structural weaknesses like inadequate training that can’t be fixed by additional Fed stimulus.
“Some commentators are urging the Fed to take additional action as long as the unemployment rate remains elevated,” Lacker said Monday in Greensboro, North Carolina. “But if elevated unemployment reflects largely fundamental factors rather than insufficient spending, such stimulus might have little impact on unemployment and instead just raise the risk of pushing inflation up.”
Comments »‘You can only stretch a sun-boiled rubber band so far before it snaps’
Same Store Sales Miss at McDonald’s
Gapping Up and Down This Morning
Gapping up
NLS +9.9%, CHDN +5.5%, IVR +3.5%, SNHY +2.7%, ULTA +2.3%, AIG +1.1%, GNRC +16.3%, GTXI +9%,
HBC +1%, PT +4.1%, TEF +2.8%, TI +2.3%, CTSH +1.2%, CCL +1%,
Gapping down
MAKO -25.1%, SNCR -18%, RAX -11.7%, DNDN -10.2%, KKD -6.3%, CLMT -6.2%, WWWW -4.7%,
CLNE -4.4%, PMT -3.3%, MT -3%, SBH -2.3%, RDS.A -2%, BP -1.9%, WYNN -1.5%, VVUS -1.2%,
ATVI -1.1%, EA -0.8%, FOSL -23.7%, MCD -2.6%, PCX -1.9%, ING -3.3%, DB -2.3%, CS -1.6%,
BHP -1.9%, RIO -1.4%, SLV -1.4%, GFI -1.4%, GLD -0.7%, SO -3.9%, TOT -2.2%, SDRL -1.5%, E -0.5%,
KKD -6.3% , CLMT -6.2%, KORS -4.8% , ATVI -1.1%, SYNC -7.3%
Comments »