During the quarter the casino giant earned 37 cents a share on revenue of $2.11. Analysts were calling for a profit of 44 cents a share on revenue of $2.14 billion.

Shares of Las Vegas Sands have been pressured following news that it is being investigated by federal regulators both domestically and in China regarding potentially illegal business practices in Macau.

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WATERBURY, Vt.–(BUSINESS WIRE)– Green Mountain Coffee Roasters, Inc., (NASDAQ:GMCR – News), a leader in specialty coffee and coffeemakers, today announced its fiscal 2011 second quarter results for the thirteen weeks ended March 26, 2011.

Second Quarter Fiscal 2011 Performance Highlights^*

• Net sales up 101% over the same period in fiscal 2010
• GAAP EPS of $0.44; Non-GAAP EPS of $0.48
• GAAP operating income increases 198% over Q2’10; Non-GAAP operating income improves 178% over the year ago quarter
• GAAP net income increases 172% over Q2’10; Non-GAAP net income up 147% over Q2’10

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“Renren Inc., China’s biggest social- networking website by page views, is seeking a valuation more than double that of Facebook Inc. as it aims to raise as much as $743.4 million in a U.S. initial public offering today.

The Beijing-based company is offering 53.1 million American depositary receipts for $12 to $14 each, according to a filing with the U.S. Securities and Exchange Commission. At the midpoint, Renren would trade at 67 times last year’s sales, compared with 25 times for Facebook as valued by Goldman Sachs Group Inc.’s investment in the U.S. company.”

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“It has been twenty years now since first glasnost and then the collapse of the USSR lifted the curtain on the appalling environmental record of Soviet socialism. Over that same 20 years, the burgeoning economy of socialist China has overtaken the United States as the world’s largest emitter of greenhouse gasses. Still, it remains common to hear capitalism singled out as the greatest environmental threat to our planet, and socialism as its salvation.“

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Crack spreads trading @ $26.74

“Has the time, when the end of QE is ultimately priced in, finally arrived? Following another steep sell off in silver, matched only by the decimation in Chinese stocks, it appears margin calls have finally come to crude, which just plunged by $2 in seconds. And if the answer is yes, is this the expected rotation from the inflationary to deflationary mood which is so very critical for Bernanke to launch his third and final QEasing episode?”

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“The rare earth stocks exploded on the scene in December 2010 when they spike higher during the holiday season. The sector that produces lithium, beryllium, indium, gallium, neodymium, and terbium continues to hold up well on the charts at this time.”

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“Pfizer Inc. (PFE) Chief Executive Officer Ian Read said he is reviewing the possible sale or spinoff of four divisions with $18.3 billion in annual revenue, led by the company’s third-biggest unit, established products.

Results of the division reviews will be announced in the second half this year and in early 2012, Read said today in a telephone interview. The emerging-markets portion of New York- based Pfizer’s established-products business is big enough to stand on its own, with $915 million in sales in the first quarter, he said. No decisions have been made.”

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“On the red carpet at the White House Correspondents’ Dinner, television personality Joan Rivers said President Obama has not lived up to her expectations, urging him to “stop campaigning” for re-election and “take care of the f***ing country.”

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Cash, gold, and silver is where you want to be since the S&P is at 0% gain for the year in relation to the value of the dollar…

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Rep. Barney Frank took on Wall Street as one of the writers of the sweeping Dodd-Frank financial reform bill last year. Now he is taking on the Federal Reserve.

The Massachusetts Democrat announced Tuesday morning that he’s introducing a bill that would dramatically downsize the Federal Reserve’s policymaking committee, eliminating five regional Fed presidents from having a say in the central bank’s decisions.

The Federal Open Market Committee, or FOMC, is structured to include 12 voting members, made up of seven Fed governors and five presidents from regional Fed banks.

The committee meets eight times a year to vote on interest rates and other monetary policy decisions that affect the entire U.S. economy by influencing credit conditions, inflation and unemployment.

Frank’s main complaint is with the selection process. Unlike Fed governors, the regional bank presidents are not selected by elected officials, but by a board comprised of business leaders in their communities.

“These men and women are chosen by a self-perpetuating group of private citizens who disproportionately represent the private financial services industry,” Frank said in a statement.

Frank believes his bill, if passed, would make the Fed’s decision-making process more transparent and democratic.

But Frank’s proposal would also decrease the number of voices included in the Fed’s decision-making process — a matter that some Fed watchers say could have the opposite of its intended effects.

“I’m very surprised he would be introducing this bill,” said Catherine Mann, a finance professor at Brandeis University and former Fed economist. “It doesn’t seem consistent with his thrust to make public policy more reactive to the overall economy.”

Under the leadership of Chairman Ben Bernanke, Fed officials have talked to the media and the public more than ever before, even revealing disagreement within the Fed.

And lately, the regional presidents have been more likely to express dissent with Bernanke’s policies than the other Fed governors.

Mann points out that stripping the FOMC of the regional presidents would leave the Fed’s decisions solely up to the governors based in Washington, D.C. and limit the board’s diversity.

“Leaving it as only the Washington people, if anything narrows the range of perspective on the state of the economy — as opposed to widening it,” she said.

There are 12 different Fed districts, but only five of their presidents serve on the Federal Open Market Committee at any given time. The New York Fed has a permanent voting spot, as the others rotate each year.

[youtube:http://www.youtube.com/watch?v=eLHUOnVEOBE 450 300]

It’s just paper fun…..

“The United States is on track to spend nearly $3 million a mile on a new highway in southernAfghanistan, making it a monument to corruption and ineptitude.

The Gardez-Khost Road was conceived to link the Afghan government to remote areas of the country south of Kabul near the border with Pakistan. So far, the still unfinished 64-mile road has cost $121 million to build. The final expenditure will probably be closer to $176 million.

At least $1 million was paid to a shady figure known as Arafat, who promised protection to the subcontractors working on the project. Arafat reportedly has connections to the insurgents battling American soldiers and may have staged attacks himself in order to raise the praise of his security contract.”

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the bounce was ephemeral to say the least….we shall see over the next few days

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See the chart here.

Ratings On Bahrain-Based BMI Bank Lowered To ‘BB+/B’ On Weak Earnings Generation; Outlook Negative 03-May-2011
09:43 EST

China Resources Land Ltd. And Its Proposed Notes Assigned ‘BBB’ Rating; Outlook Stable 03-May-2011
03:33 EST