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Monthly Archives: July 2012

$FB Ads Clicked 4x More Than Twitter Ads; Revenues Per Ad Up 58% YOY

“Facebook yesterday saw a decline in share price on a report of falling user numbers in key markets like the U.S. and Europe, but in a sign of how it is firming up its business, Facebook is also making significantly more money and getting more sticky with its advertising, on the back of newer, more targeted ad formats like Sponsored Stores and mobile ads. The latest quarterly report from ad agency TBG Digital, out today, indicates that cost per thousand impressions (CPMs) on ads on the social network rose by 58 percent compared to the same period last year, with overall engagement also up by 11 percent, a reversal of the decline seen last quarter. And among Facebook’s newer units that target people more directly, Sponsored Stories saw 53 percent more engagement than standard ads, and mobile ads had four times the engagement of Twitter ads, says TBG.”

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$AAPL May See Slower iPhone Sales in U.S.

“Microsoft continues to make a big push with the Windows Phone platform, but figures out todayfrom Strategy Analytics indicate that it’s still barely moving the needle against the Android/iOS juggernaut. In 2012, Microsoft’s Windows Phone will account for only four percent of the 123 million smartphones that will be sold in the U.S. in the year. That’s a rise, but of only one percentage point compared to 2011. In terms of actual unit numbers, this works out to 5 million devices sold in 2012, compared to 3.5 million in 2011.”

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Peregrines’ CEO Says He Spent All the Money

“Reuters) – BlackRock Inc, the world’s largest money manager, said on Wednesday its second-quarter profit fell 11 percent as tumultuous market conditions cut into fee income.

Net income at New York-based BlackRock dropped to $554 million, or $3.08 per share, from $619 million, or $3.21 per share, a year earlier.

Investor interest in BlackRock’s iShares unit, the top manager of U.S. exchange-traded funds, saved the firm from an even deeper profit decline. Investors added a net $6.1 billion into iShares funds in the quarter, while withdrawing $2.3 billion combined from BlackRock’s other long-term funds.”

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BlackRock’s Second-Quarter Profit Falls 11 %

“Reuters) – BlackRock Inc, the world’s largest money manager, said on Wednesday its second-quarter profit fell 11 percent as tumultuous market conditions cut into fee income.

Net income at New York-based BlackRock dropped to $554 million, or $3.08 per share, from $619 million, or $3.21 per share, a year earlier.

Investor interest in BlackRock’s iShares unit, the top manager of U.S. exchange-traded funds, saved the firm from an even deeper profit decline. Investors added a net $6.1 billion into iShares funds in the quarter, while withdrawing $2.3 billion combined from BlackRock’s other long-term funds.”

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Gapping Up and Down This Morning

Gapping up

SOMX +76.9%, FOLD +8.8%, ECTY +7.3%, EMC +6.5%, VMW +5.7%, OREX +5%,

CS +4%, FIS +2.8%, AIXG +1.9%, RHT +1.6%, CTXS +1.4%, TIF +1.2%, F +0.4% ,

FFIV +2.4%, RHT +1.6%, CTXS +1.4% , FUN +2.2%, ZNGA +3.9%, VVUS +20%

Gapping down

ROVI -24.6%, ARNA -9.5%, SBH -7.1%, SSNC -5.2%, HRZN -4%, DB -2.7%,

RIO -2.5%, RL -1.5%, RDS.A -1%, INTC -1%,  SKS -2.5% , TSLA -3.4%,

DLB -2.3% , CAT -1.2% , RL -1.5%, BV -0.3%, ARNA -7.2% , GFI -1.2%, SLV -1%,

BBL -0.9%, BHP -0.9%, SAN -3.9%, DB -2.7%, HBC -2.5%, BBVA -2.1%, UBS -1.8%, BCS -1.4%,

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Geithner: Growth Too Slow, but on Right Track

“Treasury Secretary Timothy Geithner said the economy is “definitely slower,” but defended the Obama administration’s actions and said Washington needs to take aggressive action to promote growth.

Timothy Geithner
CNBC.com
Treasury Secretary Timothy Geithner

Speaking at the “Delivering Alpha” conference presented by CNBC andInstitutional Investor, Geithner rejected the idea that the economy is headed for another recession.

“What the economy needs right now is very substantial and well-designed program for support of economic growth,” Geithner said in a live interview.

He said Congress ought to continue payroll tax cuts for “98 percent” of American workers and make mortgage refinancing more readily available, among other proposals.”

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GRANTHAM: ‘You Can’t Afford To Miss This Opportunity’

“I recently spoke at FreedomFest in Vegas along with the world’s best and brightest minds, such as Steve Forbes, Senator Rand Paul, and Whole Foods CEO John Mackey. I discussed the growing global demand of resources and gold to a crowd of 2,000. Half of the group was attending for the first time, which demonstrates to me a growing curiosity to learn about macro trends shaping the world and affecting our investments.”

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Despite Record Revenues $AMR is Still Losing Money

“DALLAS (AP) — American Airlines is reaping higher fares and record revenue but still losing money.

AMR Corp. said Wednesday that it narrowed its second-quarter loss to $241 million mostly because of $230 million in costs tied to its bankruptcy restructuring. A year ago, it lost $286 million.

There are glimmers of hope for a turnaround at American.

Without restructuring costs and other special items, AMR would have earned $95 million, its first operating profit for the early-summer quarter since 2007. Revenue climbed 5.5 percent to $6.46 billion, a record for any quarter. And between American and regional affiliate American Eagle, planes averaged 85.1 percent full at the start of summer, also a company record.”

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$BAC Beats by $0.03 Per share and Sets Aside the Least Amount of Money in Recent Times for Bad Loans

“Bank of America swung to a profit from April through June and beat Wall Street expectations. It set aside the least money to cover bad loans since 2007, well before the financial crisis.

The bank said Wednesday that it made $2.1 billion in the second quarter, or 19 cents per share. Analysts polled by FactSet, a provider of financial data, had expected 16 cents.

Bank of America stock climbed 11 cents, or 1.4 percent, to $8.03 in premarket trading.

The bank set aside $1.8 billion in the quarter to cover bad loans, down 46 percent from a year earlier and a sign that the bank expects more customers to repay loans on time. It was the lowest figure since the first quarter of 2007.

Revenue was $22.2 billion, lower than analysts’ expectation of $22.8 billion. Revenue last year was $26.5 billion after excluding mortgage-related charges.”

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U.S. Home Starts Jump 6.9%

“WASHINGTON (AP) — U.S. builders broke ground on the most new homes and apartments in nearly four years last month, the latest evidence of a slow housing recovery.

The Commerce Department said Wednesday that housing starts rose 6.9 percent in June from May to a seasonally adjusted annual rate of 760,000. That’s the highest since October 2008.

Single-family housing starts rose for the fourth straight month to a two-year high. Apartment starts, which can be volatile, increased after falling in May.

The number of permits to build homes, a sign of future construction, fell 3.7 percent to 755,000. But that’s down from May’s three-and-a-half-year high. Permits for single-family homes edged up to the highest level since March 2010. Permits to build apartments declined.”

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BNY Mellon’s Profits Fall 37% on Litigation Charges

“(Reuters) – Bank of New York Mellon Corp said on Wednesday that second-quarter net income had fallen 37 percent on lower foreign exchange revenue and after it paid $212 million to settle aninvestor lawsuit.

The world’s largest custody bank reported net income of $466 million, or 39 cents a share, compared with $735 million, or 59 cents a share, a year earlier.

As announced earlier this month, the results included an after-tax charge of $212 million to settle an investor lawsuit accusing the bank of imprudently investing their cash in a risky debt vehicle that collapsed in 2008.

Quarterly revenue fell to $3.62 billion from $3.85 billion.”

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Honeywell Sees Profits Jump Nearly 12%

“(Reuters) – Honeywell International Inc posted an 11.7 percent rise in quarterly profit, topping Wall Street forecasts, as strong U.S. demand for building-control systems and specialty chemicals offset weakness in Europe.

The company on Wednesday also raised the low end of its full-year profit forecast by 5 cents, and now anticipates 2012 earnings of $4.40 to $4.55 per share, representing growth of 9 percent to 12 percent.”

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BOE Policy Makers Say They May Reassess Rate-Cut Case

Bank of England policy makers may reconsider the case for an interest-rate cut after assessing the impact of new lending and liquidity measures as Europe’s debt crisis keeps pressure on them to do more to stoke growth.

The Monetary Policy Committee said while the arguments for and against cutting thebenchmark rate from the current record low of 0.5 percent hadn’t changed since June, they may be reviewed in the coming months, according to the minutes of its July 4-5 meeting. The MPC voted 7-2 to increase quantitative easing by 50 billion pounds ($78 billion) to 375 billion pounds at the meeting.”

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China Increases U.S. Treasury Holdings Amid Debt Crisis

China, the largest foreign U.S. creditor, boosted its holdings of government securities in May to the most in six months as the American economy stalled and Europe’s sovereign-debt crisis deepened.

Chinese holdings rose 0.4 percent to $1.1696 trillion, Treasury Department data released yesterday show. Those of Japan, the U.S.’s second-largest lender, climbed 1.4 percent to an all-time high of $1.1052 trillion. Net foreign purchases of Treasuries increased $54.2 billion, or 1 percent, to a record $5.264 trillion in May, the data show.”

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