Banks are turning on each other to avoid or at least lighten fines and potential criminal charges in the Libor scandal.
Comments »Monthly Archives: August 2012
Markets Cheer ECB Action on Saving Greece, Temporarily That Is
“The European Central Bank (ECB) has saved Greece from bankruptcy for the time being by securing it interim financing in the form of additional emergency loans from the Bank of Greece, German newspaper Die Welt said on Saturday.”
Comments »$GM Receives a $3 Billion Lawsuit from SAAB Subsidiary
The suit claims of unlawful actions taken by GM to avoid competition for SAAB in the Chinese markets. Further the suit claims that this action led to the bankruptcy of SAAB.
Comments »Gapping Up and Down This Morning
Gapping Up
PSTI +33.3%, CTSH +3.7%, NOK +3.4%, MT +1.9%, TTM +1.7%,
FB +1.7%, AIG +1%, WCG +1.4%, MCP +2.7% , MDVN +0.5% ,
ATVI +3.4%,
Gapping
KCG -25.9%, TEVA -0.7%, CHK -0.8% , SRPT -5.5% , LVS -1.9%,
SNY -1.4%, AZN -0.5%, PBR -4%, TSN -3.9%,
Comments »Upgrades and Downgrades This Morning
In Play and On the Wires
Best Buy Owner Offers a 30+% Premium for Shares to Go Private
$BBY shareholders are smiling all the way to the bank this am…unless of course they bot in a while back. Better to get some of your money back rather than watch is slowly disappear.
Comments »Knight Capital is Down 30% Pre-Market, Company Has Received a $400 Million Cash Infusion
Knight Capital is get whacked this am despite a capital infusion. Investors still worry over the fate of this company.
Comments »Oil Fails to Join the Global Rally
Oil failed to rally overnight in London and is down on NY boards pre-market. It is said that recent gains were too ambitious…
Comments »Traders Continue to Bet Against the Euro Despite All the Talk of Saving the Currency
Traders are raising options bets that the Euro will fall despite all the commentary that the ECB will ultimately “do what it takes” to save the Euro.
Comments »UBS Calls for a 20% Jump in the Shanghai Composite by Year End
Interest rates cuts should help the Shanghai Composite jump, after being one of the worst performing markets thus far.
Comments »The Aussie Dollar Finds Follow Through in the Risk On Trade
“Australia’s dollar traded 0.1 percent from the highest in more than four months and government bond yields climbed on bets the Reserve Bank will refrain from lowering the developed world’s highest interest rate tomorrow.
New Zealand’s currency was 0.2 percent from a three-month high as Asian stocks extended a global rally in equities, spurring appetite for higher-yielding assets. Demand for the South Pacific nations’ dollars was tempered before reports tomorrow that may show declines in Italian industrial production and German factory orders, fueling concern Europe’s debt crisis is curbing prospects for growth.”
Comments »$TSM to Invest $1.4 Billion in $ASML, Like $INTC $TSM Seeks Access to Production
$TSM will join $INTC in investing money in $ASML. They bot 5% of the company for $1.4 billion…
Comments »Investors Continue to Find safety in German Bonds
Despite a risk on rally in global markets, money is still being socked away in German bonds.
Comments »Monti Calls For More Crisis-Fighting Urgency In ECB Standoff
“Italy’s Prime Minister Mario Monti warned of a potential breakup of Europe without greater urgency in efforts to lower government borrowing costs, as a stand-off over European Central Bank help for Italy and Spain hardened.”
Comments »Concerns Over The European Debt Crisis Ease, Helping Markets to Rise
Fears over Europe’s debt woes have subsided a bit as comments out of Italy suggest that interest rates may be lowered soon by the ECB. As a result global markets rose overnight.
Comments »Global Markets Rally While U.S. Futures are Cautiously Optimistic
Costs, conflicts arise in Reid push for green power
Say this about U.S. Sen. Harry Reid: He really believes in renewable energy.
Reid has beat up NV Energy pretty good in recent years. In the closing days of the George W. Bush administration, Reid blocked plans to build coal-fired power plants in Nevada. He said in April on the “Nevada Newsmakers” show, “I don’t think NV Energy has done enough to allow renewable energy to thrive.”
But that same month, NV Energy reported it had exceeded its state-imposed green-energy requirement of 15 percent by purchasing 16.7 percent of its power from renewable sources. And that was in spite of the Public Utilities Commission rejecting a handful of renewable contracts in July 2011, saying the company hadn’t justified the purchases were necessary to meet its quota.
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FLASH: Nikkei Follows U.S. Markets Higher at the Open
Usain Bolt Wins Gold and Sets Olympic Record in the 100 Meters
Comments »Bolt won his second straight Olympic gold medal in the 100 meters with an Olympic-record time of 9.63 seconds.
Bolt joined American Carl Lewis as the only men to repeat in the 100 meters. Fellow Jamaican Yohan Blake took the silver, while American Justin Gatlin took bronze.
