Big Investors Cashing Out Of Bank Stocks Could Kill Share Prices
Abu Dhabi investors plan to sell their stake in Barclays (BCS) for about $6.8 billion. They have only had the shares a year but their return is likely to be more than 50%. The…
All Work
Douglas A. McIntyre
The Treasury Should Have Invested In Toyota (TM)
There are enough smart financiers and former Wall St. veterans in the Treasury Department so that the staff there should know how to hedge a bet. The Administration has taken the extremely risky position of…
An Ethics Violation: Citigroup (C) To Skip Severance Payments
The Wall Street Journal reports that five executives who left Citigroup (C) will not get the balance of their severance payments which total several million dollars. The reason behind the action is that the…
Will Microsoft (MSFT) Spend $10 Billion On Bing?
The debut of the new Microsoft (MSFT) search technology Bing was greeted by mostly positive reviews. The only legitimate complaint about the launch is that the world’s largest software company announced the product before…
Does The S&P Top 1,000 Before Crude Trades Above $100?
There may be some exceptions to the rule that crude and the stock market both trade substantially higher for a long period of time. The price of oil is bound to be seen as…
Media Digest 6/2/2009 Reuters, WSJ, NYTimes, FT, Bloomberg
Reuters: Global consumer confidence is improving. Reuters: GM (GM) filed for Chapter 11 and expects a quick exit. Reuters: Most US retailers probably had sales drop in May. Reuters: China gave Geithner backing for…
Asia Markets And Europe Open 6/2/2009
Markets in Asia were mixed. The Nikkei was up .3% to 9,704. The Hang Seng dropped 2.8% to 18,381. The Shanghai Composite rose .1% to 2,724. At the open in Europe, the FTSE was…
JPMorgan’s $5 Billion Raise Swings FAS/FAZ (JPM, FAS, FAZ)
Jamie Dimon really hates the TARP and he wants out from under it. He’s said how being forced to take the TARP money has allowed JPMorgan Chase & Co. (NYSE: JPM) and others to…
DJIA Challenging 200-Day Moving Average
The Dow Jones Industrial Average has been trading above its 50-day moving average since late-March. But the 200-day moving average is a key metric for long-term traders. The 200-day moving average for the DJIA…
Stat of the Day: 1 Million Foreclosures Already in 2009 (XHB)
The Center for Responsible Lending estimates that there have now been 1,000,000 foreclosures filed so far in 2009. It also noted that the Mortgage Bankers Association’s most recent data shows some 12% of all…
Western Refining Raising $300 Million Cash (WNR)
Western Refining, Inc. (NYSE: WNR) has announced its intent to sell 14 million shares of common stock. This would bring in gross proceeds of nearly $196 million at current prices. The company also plans…
ASCO Winner: Biovest May Be The Next Dendreon (BVTI, ABPIQ, DNDN)
One of the largest percentage gainers with data released at the American Society of Clinical Oncology was none other than an OTC micro-cap company called Biovest International, Inc. (OTC: BVTI). Technically, this is a…
New Pre-IPO Financing Model, With NYSE Rather Than Around NYSE (NYX)
InsideVenture was there for the open at the NYSE Euronext (NYSE: NYX) today, and the company is trying to open up wider markets for venture-backed and late-stage companies to come public. These models look…
Financing May Clean Up Jamba’s Books (JMBA, JAMBU, JMBAW)
Jamba, Inc. (NASDAQ: JMBA) has completed a sale of convertible preferred stock which raised $35 million in gross proceeds for the company. The funding was led by a $19.55 million investment by private equity…
Markets Learning to Grapple With Over 9% Unemployment
This Friday is going to mark the highest rates of unemployment that many investors and many in our producing economy have seen in their professional lifetimes. The last time the real unemployment was at…
Manufacturing & Construction Revival Seen
The Institute for Supply Management, or ISM, just posted the May reading for manufacturing activity. The reading was 42.8, up from the Bloomberg consensus estimate reading of 42.0 and the prior level was 40.1…
DJIA Changes Weightings: Higher Tech & Financial (GM, C, CSCO, TRV)
Now that General Motors (NYSE: GM) is bankrupt, the Dow Jones Index Team has decided to announce its DJIA component changes. In this change, there were two components changed rather than just GM. Citigroup,…
Joe Public Starts Saving Rather Than Spending
This morning we got to see the Commerce Department’s results showing a gain of +0.5% in income and a drop in spending of -0.1%. We had estimates from Bloomberg at -0.2% on income, and…
Lessons From A Personal Credit Crisis
John Tamny of RealClearMarkets What Edmund Andrews tells us about TARP. While they were philosophical opposites when it came to most economic concepts, 20th century economists Ludwig Von Mises and John Maynard Keynes…
Top Analyst Upgrades (ANF, DLB, HMA, LPNT, NWS, THC, WFMI, YHOO)
These are the top earlybird analyst upgrades and positive research calls seen early this Monday morning: Abercrombie & Fitch (ANF) Raised to Outperform at FBR. Dolby Labs (DLB) Raised to Overweight at JPMorgan. Health…