“National Semiconductor got a good deal and I would consider talks at an 80 percent premium or between $55 to $60 per share,” he added.
Comments »THE BERNANKE BLUEPRINT
Speaker Reid: “5M Women use Title 10 Coverage”…”Why are We Talking about a Cancer Screen?”…”Republicans Want to Shut Down Government”
FLASH: Speaker Boehner: “No Agreement Yet”….”Troops Need to be Funded”…”Not About Ideology, but Spending”
FLASH: GOOG Close to Settlement With Regulators on ITA Purchase; Consent Decree
Hercules Offshore Receives SEC Subpoena
Comments »In an 8-K filing, HERO reported that on April 4, 2011, Hercules Offshore, Inc. (the “Company”) received a subpoena issued by the Securities and Exchange Commission (“SEC”) requesting the delivery of certain documents to the SEC in connection with its investigation into possible violations of the securities laws, including possible violations of the Foreign Corrupt Practices Act (“FCPA”) in certain international jurisdictions where we conduct operations. The Company was also notified by the Department of Justice (“DOJ”) on April 5, 2011, that certain of the Company’s activities are under review by the DOJ.
Today’s Winners/Losers
2 XNPT 56.11
3 HRZ 30.91
4 IMGN 26.88
5 DBLE 22.74
6 TIV 20.34
7 SCON 18.75
8 AERL 16.60
9 REE 16.29
10 DGW 15.58
11 SHZ 14.16
12 CNTY 13.67
13 KEYN 13.35
14 MOV 12.63
15 TPCG 12.58
16 CRME 12.00
17 AVL 11.51
18 IL 11.18
19 XOMA 11.07
20 PIR 10.53
21 BBBY 10.47
22 MCP 10.39
23 BKE 9.89
24 UTA 9.51
25 CHGS 8.71
26 STZ 8.64
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No. Ticker % Change
1 QXM -20.72
2 RT -18.32
3 LZEN -17.70
4 ADY -14.05
5 SUPG -12.07
6 RMTR -11.15
7 GNI -10.75
8 CIGX -9.32
9 ABAT -8.47
10 PENX -8.36
11 AMSC -8.22
12 IDIX -8.10
13 DDSS -7.98
14 TPGI -7.63
15 CGR -7.55
16 FMAR -7.35
17 SSW -7.23
18 PUDA -7.14
19 RCON -7.13
20 MDRX -6.80
21 REVU -6.76
22 WDFC -6.34
23 XNY -6.28
24 DEXO -6.05
FLASH: Tsunami alerts lifted after 3 foot wave hit coast of Japan
EPA and FDA: Eating Fish and Drinking Water With Radiation Many Thousands of % Higher Than Accepted is Okay
FLASH: 7.4 M Earthquake Hits Japan Again… Tsunami Alert Issued
Flash: Macy’s reports Mar same store sales +0.9% vs -3.6% Retail Metrics consensus; raises March-April sales growth forecast
Ticker M
Comments »Flash: Dillard’s reports Mar same store sales -1.0% vs -3.8% Retail Metrics consensus
Ticker DDS
Comments »Initial Claims: Prior 388k, Market Expects 384k, Actual 382k
continuing claims 3.72 million- basically flat
Comments »Commodities Rally as Dollar Falls
The U.S. dollar dropped by almost 0.5%, lending strength to commodities. For the day, cotton was up 5.5%, nickel +4.2%, copper +3%, lead +3%, tin +1% and oil was up 0.7%.
Comments »Fed Bank Bailouts Were Muni Bailouts in Disguise
Today’s Biggest Industrial Metals and Mineral Winners
No. Ticker Industry % Change
1 AAU Industrial Metals & Minerals 20.54
2 MMG Industrial Metals & Minerals 8.85
3 PZG Industrial Metals & Minerals 7.49
4 PLM Industrial Metals & Minerals 4.46
5 ZINC Industrial Metals & Minerals 4.27
6 AXU Industrial Metals & Minerals 3.89
7 SWC Industrial Metals & Minerals 3.82
8 MFN Industrial Metals & Minerals 3.81
9 GSM Industrial Metals & Minerals 3.22
10 AUMN Industrial Metals & Minerals 3.19
11 IVN Industrial Metals & Minerals 2.93
12 TCK Industrial Metals & Minerals 2.80
13 USU Industrial Metals & Minerals 2.05
The Stock Market Remains Blissfully Unaware…
Cree Inc (NASDAQ:CREE): Cut to Underweight – Morgan Stanley
Comments »Morgan Stanley is out making a significant LED lighting call this morning downgrading the sector leader Cree Inc (NASDAQ:CREE) to Underweight from Equal-Weight with a $36 price target. Click here for story
An “Evening Doji Star” has risen on the monthly SPX.
New GOP Budget Claims to Cut 6.2 Trillion in Spending Over 10 Years
Our budget, which we call The Path to Prosperity, is very different. For starters, it cuts $6.2 trillion in spending from the president’s budget over the next 10 years, reduces the debt as a percentage of the economy, and puts the nation on a path to actually pay off our national debt. Our proposal brings federal spending to below 20% of gross domestic product (GDP), consistent with the postwar average, and reduces deficits by $4.4 trillion.
A study just released by the Heritage Center for Data Analysis projects that The Path to Prosperity will help create nearly one million new private-sector jobs next year, bring the unemployment rate down to 4% by 2015, and result in 2.5 million additional private-sector jobs in the last year of the decade. It spurs economic growth, with $1.5 trillion in additional real GDP over the decade. According to Heritage’s analysis, it would result in $1.1 trillion in higher wages and an average of $1,000 in additional family income each year.
Read the rest here.
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