SubscribeLinks and Reading for September 20th
September 20, 2011
Some of the more interesting and important items for September 20th :
- The 10 most expensive streets in the U.S. – Slide Show – MarketWatch – The 10 most expensive streets in the U.S. Where office space costs the most: Silicon Valley, Manhattan
- U.S. probes hedge funds for insider trades: WSJ – MarketWatch – LOS ANGELES (MarketWatch) — The Securities and Exchange Commission has issued subpoenas to hedge funds and other financial firms as part of an investigation of alleged insider trading ahead of the Standard & Poor's downgrade of its U.S. sovereign credit rating, The Wall Street Journal reported Tuesday, citing unidentified people familiar with the matter. The report didn't say which investment firms received subpoenas. It described the subpoenas as "unusually broad, seeking information about why certain trades were made."
- Apple iPad Tablet Shaking Up How Firms Do Business – Investors.com – Apple iPad Tablet Shaking Up How Firms Do Business
- U.S. Stocks Sink, But Apple Hits New High – Investors.com – U.S. Stocks Sink, But Apple Hits New High
- Drug Spending Targeted in Obama’s $320 Billion Health Cut – Bloomberg – President Barack Obama’s deficit- trimming proposal would cut $320 billion from U.S. health programs in prescription drug and nursing home spending and by increasing individuals’ payments for Medicare coverage.
- S&P Cuts Italy Rating on Weak Growth Outlook – Bloomberg – Italy’s credit rating was cut by Standard & Poor’s on concern that weakening economic growth and a “fragile” government mean the nation won’t be able to reduce the euro-region’s second-largest debt burden.
- Bank of China halts FX swaps with some European banks | Reuters – (Reuters) – Bank of China (601988.SS), a big market-maker in China's onshore foreign exchange market, has stopped foreign exchange forwards and swaps trading with several European banks due to the unfolding debt crisis in Europe, three sources with direct knowledge of the matter told Reuters on Tuesday.
- Alan Abelson’s Up and Down Wall Street Column in Barron’s – Barrons.com – Advice to our chosen representatives busily primping and posturing in preparation for next year's election: Think twice before you make any irrevocable decision to retain your seat. And we render that counsel fully aware that it will take a great effort for all but a few of you to think even once about seeking your constituents' approval (or, for that matter, anything else).
- Is Netflix doomed? – Portfolio Insights by Brett Arends – MarketWatch – We were on the “Oh, yeah, I forgot I was subscribing to that” plan. With the “Honey, we’ve had this National Geographic documentary DVD for two months — are we really going to watch it, or should we just send it back?” option.
- Dow hits 20,250 by 2020, but first a big crash – Paul B. Farrell – MarketWatch – SAN LUIS OBISPO, Calif. (MarketWatch) — Warning: 91% of America’s financial planners are pushing clients into riskier investments, according to a new Financial Planning Association study on “Alternative Investments.” Get it? In today’s highly volatile markets advisers appear to be running as scared as their clients, chasing risky returns.
- 500 Internal Server Error – 500 Internal Server Error
Links and Reading for September 18th
September 19, 2011
Some of the more interesting and important items for September 18th :
- Dancing with the fund manager stars gets canceled – Chuck Jaffe – MarketWatch – BOSTON (MarketWatch) — It was front-page news in 1990 when legendary mutual-fund manager Peter Lynch announced that he was leaving Fidelity Magellan Fund, and not just in places like Boston — home of Fidelity Investments — or major money centers, but in communities like Allentown, Pa., where I was then the business editor of The Morning Call newspaper.
- Libya may revise foreign oil, gas deals – MarketWatch – BENGHAZI, Libya (MarketWatch) — Libya could revise oil and gas deals signed under the previous regime of Col. Moammar Gadhafi if their pricing terms are abnormally low and if there are suspicions of corruption, an official with the Arabian Gulf Oil Co. said Saturday.
- UBS Trader Kweku Adoboli Charged With Fraud; ‘Rogue’ Trading Lasted 3 Years – WSJ.com – LONDON—An alleged trading scheme at UBS AG went undetected for three years before it was finally discovered, triggering a $2 billion loss, U.K. authorities indicated Friday as they charged a 31-year-old trader at the Swiss bank with fraud.
- U.S. Housing Rut to Continue, Economists Say – Bloomberg – Purchases of previously owned U.S. homes in August probably held close to the weakest level this year and construction dropped to a three-month low as the industry showed few signs of a emerging from its slump, economists said before reports this week.
- Clinton Popularity Prompts Buyer’s Remorse – Bloomberg – Nearly two-thirds of Americans hold a favorable view of her and one-third are suffering a form of buyer’s remorse, saying the U.S. would be better off now if she had become president in 2008 instead of Barack Obama.
- Boeing, General Motors, MasterCard, Tyson, Visteon: U.S. Equity Preview – Bloomberg – Boeing Co. (BA) : The world’s second-largest commercial- plane maker said it won’t make a planned delivery of the 747-8 jet next week. Cargolux told Boeing it won’t take the delivery of 13 planes due to “unresolved issues” over the contract, according to Flightglobal, which cited industry sources.
Links and Reading for September 18th
September 18, 2011
Some of the more interesting and important items for September 18th :
- Sorry, Junior: Parents Pull Back on College Spending – SmartMoney.com – As Zack Zbar gets ready to apply to colleges this fall, his parents have established one important ground rule. Jeff, a Florida writer, and his wife Robbie, a nurse practitioner, would like to send their son to the best college he can get into, but they don’t intend to go into debt to make that happen. They’ll look for grants and scholarships, or they’ll turn to an in-state option. “If we can’t afford it, then we have some reckoning to do,” says Jeff, 47.
- The Problem With Living Wills for Financial Firms – NYTimes.com – The Federal Deposit Insurance Corporation took an important step this week toward getting big financial institutions, foreign and domestic, to submit resolution plans — also known as living wills or funeral plans — as required by the Dodd-Frank Act. If the new, so-called orderly liquidation authority is going to work, it is going to depend on F.D.I.C.’s ability to understand and plan for financial distress in advance. And thus the living wills are key.
- Obama Tax Plan Would Ask More of Millionaires – NYTimes.com – WASHINGTON — President Obama on Monday will call for a new minimum tax rate for individuals making more than $1 million a year to ensure that they pay at least the same percentage of their earnings as middle-income taxpayers, according to administration officials.
- Analyst Suggests Apple CEO Cook Consider Acquisitions, Expand iPhone – Ina Fried – Mobile – AllThingsD – In an open letter, MobileTrax analyst Gerry Purdy congratulates Cook before launching into a list of things he says could help Apple remain “insanely great” for years to come.
- The Bull (Or at Least Less Bearish) Case for Netflix – Peter Kafka – Media – AllThingsD – Netflix cut its guidance yesterday, investors killed the stock, and now the “Netflix can’t lose” narrative has flipped to “Netflix is hosed.”
- Obama to propose ‘Buffett Rule’ on taxes: reports – MarketWatch – The White House is set to propose a “Buffett Rule” aimed chiefly at preventing those making more than $1 million a year from paying taxes at lesser rates than those at lower income levels, according to several published reports late Saturday. The plan, reportedly set to be unveiled Monday as part of President Obama’s recommendation to a bipartisan congressional “supercommittee” on deficit reduction
- End of the road for Research In Motion – John Dvorak’s Second Opinion – MarketWatch – BERKELEY, Calif. (MarketWatch) — I’ve been reluctant to write a column declaring that it’s over for Research In Motion Ltd. and its BlackBerry, but with this week’s numbers and forecasts I cannot see the company making another comeback, ever.
- Roche Keeps Drugs From Strapped Greek Hospitals – WSJ.com – Swiss drug giant Roche Holding AG has stopped delivering its drugs for cancer and other diseases to some state-funded hospitals in Greece that haven’t paid their bills, and may take similar steps elsewhere, a stark example of how the European debt crisis that has jolted global financial markets is having a direct effect on consumers.
Links and Reading for August 25th
August 25, 2011
Some of the more interesting and important items for August 25th :
- Bonds Are Most Expensive Since Lehman Collapse Versus Stocks: Japan Credit – Bloomberg – Japanese bonds are the most expensive relative to local shares since the collapse of Lehman Brothers Holdings Inc. amid growing doubts that companies’ earnings will meet analysts’ forecasts.
- China Banks Post Record Profits as Rivals Stumble – Bloomberg – China’s five biggest banks posted first-half profits that surpassed the total of their 14 largest U.S. and European rivals, highlighting the Asian nation’s financial power as other economies falter.
- Dear HFT, Please Explain This | ZeroHedge – On August 25, 2011 at 15:45:48, in a one second period of time, there were more than 10,000 quotes and exactly zero trades in DELL. Close inspection of these quotes reveals something very disturbing. This cannot be dismissed as a computer problem or glitch. This can’t be explained as stupidity or some oversight. It is not pinging for hidden liquidity. And it’s certainly not price discovery. As far as we can tell, it’s not adding liquidity or narrowing the bid/ask spread.
- Todd Harrison On The Summer Stock Market Crash: Where Do We Go From Here? | Markets | Minyanville.com – August has indeed been busy and lest you were sunning your buns on the beach, there has been a slew of movement in the global financial sphere. Let’s take a moment to reflect on where we’ve been as we navigate the probability spectrum of where we’re going.
- Apotheker: from bumpy start to wild ride – MarketWatch – SAN FRANCISCO (MarketWatch) — After a bumpy transition, Hewlett-Packard Co. Chief Executive Leo Apotheker’s reign at the iconic Silicon Valley tech powerhouse has steadily turned into a wild ride.
- Jobs’s departure no reason to ditch Apple – MarketWatch – SAN FRANCISCO (MarketWatch) — The resignation of Steve Jobs as Apple Inc.’s chief executive gave investors reason to trim the company’s shares Thursday, but Wall Street analysts remained uniformly behind Apple’s succession plan and new leader Tim Cook.
- The Housing Numbers: Can We Talk? : The Disciplined Investor – There is nothing to cheer about in the land of the empty houses. It would be a great idea if someone could come up with a reasonable idea to start the process of getting buyers to stop waiting for housing prices to move lower. Mr. Bernanke knows that deflation is the ruination of any economy. Between the FED and the Govy, a plan of action is needed.
- Korea Clamps Down on Traders for Playing Games – NYTimes.com – It should be something else entirely. Finance ought to provide an economy with an efficient means of allocating capital. It should provide a means of price discovery of assets, whether real or financial. It should provide a safe and reliable payments system. Financial innovations are worthwhile if, and only if, they help in those areas.
- Doubts Still Harbored About Europe’s Banks – NYTimes.com – FRANKFURT — European banks have become nervous about each other’s creditworthiness, evoking memories of the mistrust that prevailed during the dark days of 2008.
- In U.K., Goldman Issues Recall on Pay – WSJ.com – In one-on-one conversations this summer, Goldman managers have been reminding their London-based employees that temporarily higher salaries granted to them for 2010 would expire beginning in 2012. Their pay will revert back to what similarly ranked employees are paid elsewhere in the company. The move had been expected.
- CME cuts margin requirements on crude-oil futures – MarketWatch -
- Fund Investors Pull $436 Million From Stocks; MainStay Fund Gains – Focus on Funds – Barrons.com -
- Bank of America: Value of Buffett Deal About $5.28/Share, Says One Number-Cruncher – Stocks To Watch Today – Barrons.com -
- Jackson Hole guests tell Fed to keep rabbit in hat – The Fed – MarketWatch -
Links and Reading for July 22nd
July 22, 2011
Some of the more interesting and important items for July 22nd :
- 500 Internal Server Error – 500 Internal Server Error
- 500 Internal Server Error – 500 Internal Server Error
- ‘Potter’s’ $168.6 million to shatter debut mark – MarketWatch – After beating the midnight screenings and first-day records, estimates show “Potter” should go on to a first-weekend record of $168.6 million, according to box-office tracker Hollywood.com.
- Trichet Says Europe Can Surmount Sovereign-Debt Crisis, Euro Not in Danger – Bloomberg – “Naturally the Europeans can manage the issue,” Trichet said in an interview with the Financial Times Deutschland, according to a transcript released by the Frankfurt-based ECB. “It is not a question of technique. It is a question of will and determination.”
- 500 Internal Server Error – 500 Internal Server Error
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