U.S. Interest Rate Policy Will Continue to Hurt Bank Profits; BoA and Citigroup Expected to be Hit Hardest
The Hoarding of Cash by Europe’s Banks May Cause Massive Corporate Defaults
Nintendo Triples its Loss Forecast As Apple Kills its Competition
TEPCO TO RECEIVE BAILOUT
The Japanese govt is in discussions to privatize Tepco for $13 billion. Shares of Tepco are up 4% on that news.
Comments »E*Trade Financial Reports a Dismal Challenging Quarter
Sandisk Reports a 19% Jump in Revenue
NFLX Reports Better Than Expected Numbers; $0.73 vs Consensus of $0.56
Greenlight’s Einhorn Fined $11 Million in the U.K. for Trading on Inside Information
“David Einhorn and Greenlight Capital Inc. were fined 7.2 million pounds ($11.2 million) by the U.K.’s financial regulator for trading on inside information in Punch Taverns Plc (PUB) in 2009.
Einhorn, Greenlight’s 43-year-old chairman, was told of Punch Taverns’s plan to sell equity by a broker representing the company, theFinancial Services Authority said in an e-mailed statement today. He then sold more than 11 million Punch Tavern shares over the following four days, avoiding losses of about 5.8 million pounds for the fund, the regulator said.
“The big name and the big number” are what the FSA wants, Louise Hodges, a financial-crime defense lawyer at Kingsley Napley LLP in London, said in a telephone interview today. “It looks like it’s more a case of he should have known, rather than he did know,” his actions were illegal.”
Comments »JC Penny Out With A New Plan to Revamp Business
A List of Companies That May Be Facing Chapter 11
HSBC Faces Investigation for Money Laundering
$AMZN Getting More Serious About Taking on $NFLX
(EXCLUSIVE via NY POST)
Jeff Bezos and his team at Amazon are weighing a move to beef up the Web retailer’s video-streaming service — possibly carving it out as a standalone, subscription-based operation, industry sources told The Post.
Such a move, if undertaken, would set the retail behemoth in the same competitive orbit as Netflix.
Currently, Amazon’s Instant Video comes free with Amazon Prime, the $79 unlimited shipping service.
“They’re looking into it being a standalone subscription service,” one content executive said.
A second exec noted they believe Amazon is chewing over a possible charge.
The Internet retailer does have a paid video-on-demand movie and TV service — but the streaming service would be different.
“The big issue is their bundled media service,” said one digital media executive. “The subscription service, with the goodies being free video, is contractually an issue for the licensers.”
Tinseltown talent doesn’t like being a loss-leader for Amazon shipments of everything from diapers to digital devices.
Word that Bezos may be looking to add muscle to its video service comes nearly one year after Amazon launched Instant Video last February. In July, Amazon paid CBS around $100 million for 2,000 hours of TV shows. It then followed up with deals for Fox content such as “Arrested Development,” and with Disney and NBCUniversal.
The company has had little to say in recent months, however, though one source said that Amazon was “refreshing its checkbook.”
Amazon has been paying fees that are based on the number of subscribers.
Amazon Prime has 7 million to 8 million subscribers, analysts estimate.
Netflix, which reports fourth-quarter results today, has 20 million streaming subs globally.
Paul Verna, senior analyst at eMarketer, said: “Amazon is aggressively pursuing the same content strategy as Netflix and is spending a lot upfront to try to secure exclusivity. They won’t always get it, but they need to differentiate themselves.”
Amazon didn’t return calls for comment.
Read more: http://trade.cc/acqg
Comments »BP Whistler Blower Says He Was Fired for Not Doctoring Clean Up Data
A Marriage of Hedge Fund Titans
More Cluster Fucking for Europe’s Banks
U.S. Equity Preview: AMD, AAPL, ALTR, CA, RE, FIO, TPX, TSS, & YHOO
Upgrades and Downgrades This Morning
DaVita, Inc. (NYSE: DVA) Raised to Outperform as Bull of the Day at Zacks.
Dendreon Corporation (NASDAQ: DNDN) maintained Neutral with $14.00 target at Zacks; Started as Hold at Cantor Fitzgerald.
Energy Partners Limited (NYSE: EPL) named as value stock of the day at Zacks.
Goldman Sachs Group Inc. (NYSE: GS) Cut to Neutral at JPMorgan.
hhgregg, Inc. (NYSE: HGG) maintained Underperform as Bear of the Day at Zacks.
KeyCorp (NYSE: KEY) Cut to Underperform at Keefe Bruyette & Woods.
McDonald’s Corporation (NYSE: MCD) Cut to Perform from Outperform at Oppenheimer (valuation call).
Morgan Stanley (NYSE: MS) Cut to Neutral at JPMorgan.
Oracle Corporation (NASDAQ: ORCL) Cut to Neutral at Macquarie.
Regions Financial (NYSE: RF) Raised to Outperform at RBC Capital; Cut to Neutral at Bank of America Merrill Lynch.
Starbucks Corporation (NASDAQ: SBUX) Raised to Outperform at Oppenheimer.
Zynga, Inc. (NASDAQ: ZNGA) Started as Overweight at Barclays; Started as Overweight at JPMorgan; Started as Neutral at Bank of America Merrill Lynch; Started as Buy at Goldman Sachs.
Gapping Up and Down This Morning
Gapping up
ILMN +28.5%, CA +15%, TQNT +7.4%, AAPL +7.3%, CRUS +7.2%, RDN +5.8%, NUAN +5.4%, BRCM +4.7%, TPX +4.7%, BMC +3.8%, SWKS +3.7%, ZAGG +3.6%,
SNDK +2.9%, STLD +1.9%, DAL +5%, LCC +3.9%, STLD +1.9%, COP +1.3%, TXT +7.5%, SWFT +5.5%, CRUS +5.7%, ARMH +4%, BRCM +3.9%, BMC +3.8%,
NUAN +3.3%, SNDK +2.9%, ZAGG +2.3%, SWKS +1.6%, PACB +26.6%, GNOM +23.6%, AFFX +10.3%, LIFE +9.6%, NBG +7%, RDN +5.8%, BCEI +6.2%, EAT +1.6%,
DNDN +1.6%, SBUX +1.2%
Gapping down
FBC -29.1%, ERIC -15%, FIO -13.3%, MRCY -9.9%, NVDA -5%, WPZ -3.5%, NVS -3.5%, MT -3.3%, NSC -2.6%, AMD -2.6%, DB -2.5%, ALTR -1.5%, RKT -7.7%,
TEL -6.9% RES -6.2%, WLP -5.6%, GLW -5.3%, NVDA -5%, ATI -4.7%, REDF -4.5%, NVS -3.7%, AMD -3.2%, GWW -2.7%, NSC -2.6%, ALTR -2.5%,
BA -1.1%, YHOO -0.6%, LYG -4.1%, RBS -3.2%, HBC -2.2%, DB -1.5%, CS -1.2%, BAC -0.7%, ALU -9.8%, WPZ -3.5%, POT -1.2%, MCD-0.7%
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