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U.K. Stocks Fall, Extending 2012 Low
extending their lowest level this year, as continued uncertainty about Greece’s future in the euro area prompted investors to sell bank shares.
Royal Bank of Scotland Group Plc (RBS) and Barclays Plc both slid at least 1.5 percent in London trading. Retailers Kesa Electricals Plc (KESA) and French Connection Group Plc (FCCN) tumbled at least 10 percent after saying their sales decreased. ICAP Plc paced advancing shares as analysts upgraded the company.
The benchmark FTSE 100 Index (UKX) lost 0.6 percent to 5,375.58 at 9:57 a.m. in London, sliding for a fourth day, its longest losing streak since November. The benchmark measure has declined 9.9 percent from its 2012 high on March 16. The FTSE All-Share Index slid 0.4 percent today, while Ireland’s ISEQ Index dropped 0.4 percent.
The FTSE 100 has tumbled 6.3 percent this month, helping to wipe more than $3 trillion from the value of global stock markets, amid mounting concern Greece will exit the euro.
The country this week failed to form a new government, forcing policy makers to call another election. Panagiotis Pikrammenos, the head of Greece’s Council of State, the highest administrative court, became head of the caretaker administration yesterday. The formal announcement of the election date, probably June 17, will be made after the new parliament is sworn in today and then dissolved.
The new vote follows inconclusive May 6 elections that propelled a political group opposed to the terms of Greece’s international bailout into second place.
Spain’s Debt Auction
At a Spanish debt auction today, demand for bonds due in January 2015 was 4.47 times the amount sold, compared with 2.41 at the last auction. The bid-to-cover for securities maturing in July 2015 was 3.01, compared with 2.88.
RBS led banks lower, falling 1.6 percent to 21.5 pence. Barclays Plc (BARC) slid 1.5 percent to 186.2 pence and LLoyds Banking Group Plc (LLOY) retreated 1.9 percent to 28.1 pence.
Lenders dropped in Europe as the European Central Bank said it will temporarily stop lending to some Greek banks to limit its risk. President Mario Draghi signaled the ECB won’t compromise on key principles to keep Greece in the euro area.
The central bank said yesterday it will push the responsibility for lending to some Greek financial institutions onto the country’s central bank until they have sufficiently boosted their capital.
Kesa Electricals tumbled 10 percent to 48.9 pence after revenue at stores open at least a year fell 5.9 percent in the period from Jan. 9 to April 30. The average estimate of five analysts was for a 5.3 percent decline.
The owner of the Darty electronics retailer predicted annual profit at the “mid-point” of investor expectations after sales worsened as it sold fewer televisions.
Rival Dixons Retail Plc (DXNS) lost 2.2 percent to 14.8 pence.
French Connection Tumbles
French Connection sank 21 percent to 31.3 pence after the clothing retailer said sales in the first three months of its financial year declined 9.5 percent and it was unlikely that full-year profit will meet market expectations.
Elsewhere, Aviva Plc (AV/) slid 1.6 percent to 276.3 pence after the U.K.’s second-biggest insurer by market value reported a 7 percent decline in first-quarter sales of life insurance and pensions to 6.52 billion pounds ($10.4 billion). That missed some analysts’ estimates.
Vedanta Resources Plc (VED) slipped 3.3 percent to 992 pence as the copper producer reported fiscal full-year profit that plunged 92 percent on higher financing costs, largely for the loan it arranged to acquire oil producer Cairn India Ltd.
ICAP (IAP) gained 3.2 percent to 347.3 pence as Numis Securities raised its recommendation for the world’s largest broker of transactions between banks to buy from hold. UBS AG also upgraded the shares to neutral from sell.
Italy, Greece and Spain…The Pavarotti, Tapas and Tzatziki Crash of 2012
Posted by Howard
on May 17th, 2012
http://howardlindzon.com/italy-greece-and-spain-the-pavarotti-tapas-and-tzatziki-crash-of-2012/
FB HOW TO PLAY IT-A post-IPO Facebook strategy
PROVIDED BY Reuters - 3:30 PM 05/16/2012
By David K. Randall
NEW YORK, May 16 (Reuters) - Try as they might, many retail investors won't be able to get shares of Facebook (FB) in its first hours of trading.
They may be better off waiting it out anyway. Buying at the closing price of the initial public offering day and holding on to your shares has not been a profitable strategy lately, especially for companies in the media business.
While Facebook (FB) is a unique company with 900 million users, some recent IPOs serve as reminders that the sizzle for once hot companies can fade quickly. Of seven media or social media company IPOs in the last year, only LinkedIn (LNKD) is now trading above where its stock closed after its trading debut.
Millennial Media (MM), a mobile advertising company, saw its shares jump 92 percent the day its shares debuted in late March. Since then, the stock has slid nearly 46 percent to $13.40, as of Tuesday's close.
Last year, shares of Demand Media (DMD) jumped 33 percent on the company's initial day of trading. Over the next six months, they fell 49 percent, and are down about 63 percent overall as of Tuesday. And investors who bought shares of Groupon (GRPN) after they closed 31 percent higher on the first day in November have lost 53 percent as of Tuesday's close as the company's shares slid to $12.17 each.
Optimistic potential investors in Facebook (FB), co-founded by Mark Zuckerberg in 2004, may consider the company immune to a post-IPO letdown because of its popularity. But there are ways investors can time their purchases to prevent getting caught up in the early euphoria.
Facebook (FB), which is expected to have its initial public offering on Friday, is planning to raise as much as $16 billion by selling about 421 million shares at a target price range of $34 to $38 each. While the company has set aside some shares for retail investors, brokers tend to reserve this allotment for wealthier clients.
Those who don't qualify will be stuck trying to get in on the buying frenzy of the first day, at a time when some analysts expect shares of Facebook (FB) to pop more than 30 percent to more than $50 each.
Waiting a week or two from the first day of trading may prove to be more profitable than trying to get in on the first day, analysts said.
"You want some of the frothiness from the excitement of the IPO to burn off," said Jim Krapfel, an analyst at Morningstar who covers the company and values the company at $32 per share. Buying at the first day's closing price would leave "limited upside for long-term fundamental investors," he said in a recent report on the company.
Dave Abate, a financial planner with Strategic Wealth Partners in Seven Hills, Ohio, said that he is telling clients to wait a couple of days for the stock to reach an equilibrium. Facebook (FB) is the first time his firm has developed a client strategy specifically for an IPO, he said.
"Everyone and their grandma uses Facebook (FB) and wants a piece of it. They feel like they've missed the boat with Apple (AAPL) and this is their opportunity to get in on the ground floor," he said.
Zuckerberg, who turned 28 this week, is one of the world's youngest billionaires, but despite the allure of Facebook (FB), investing in the company comes with risks, such as the company's reputation with being unconcerned about user's privacy, Abate said.
"I consider Zuckerberg a pretty big risk himself. He's unpredictable and if he grows bored with the company (and leaves) I don't know what's left of Facebook (FB) at that point," he said.
Abate is also concerned that Zuckerberg has too much power, with more than 50 percent of voting rights, increasing the risk in investing in the company. For clients that remain interested in Facebook (FB), Abate is counseling them that there will be several dips in the future to buy the stock without buying at an over inflated value because of "short-term flippers."
One way to avoid short-term remorse: buying shares of mutual funds that already own shares of Facebook (FB). T. Rowe Price, for instance, purchased shares of Facebook (FB) traded on private markets and has spread them across 19 funds.
Krapfel said a date potential investors should watch for is 91 days after the IPO, or Aug. 20. That's the day that the first so-called lock-up period for 172 million shares expires, allowing some insiders to sell their shares.
The end of a lock-up period typically leads to a decline in share prices, according to a 2001 paper in the Journal of Finance by Laura Casares Field and Gordon Hanka. The pair found that a company's average trading volume tends to increase by 40 percent and shares fall an average of 1.5 percent over three days after its lock-up ends.
August will be a relatively small insider selling window. Most employees and directors, except for Zuckerberg, will have to wait to sell their insider shares after 151 days, Krapfel said. The majority of the insider shares - 1.34 billion in all, which includes Zuckerberg's stake - can be sold 181 days after the IPO.
Some analysts said that heavy selling by insiders may be a warning sign for investors.
"At this stage, if anyone sold a considerable stake at the lockup stage it would be a giant yellow flag, especially given the young age of executives," said John Kozey, an equities analyst at Reuters.
The last four months of 2012 will bring two more milestones.
Nasdaq OMX Group (NDAQ), the company behind the exchange, changed its rules in April to allow companies to be included in its Nasdaq 100, a cap-weighted index of the largest non-financial shares in the Nasdaq Composite Index, four months after they begin trading. Once that happens, analysts expect that index funds and ETFs that track like the Nasdaq 100, such as the $31.3 billion PowerShares QQQ ETF, will add shares of Facebook (FB), potentially lifting the stock by a few percentage points.
And in November, Facebook (FB) will be eligible for inclusion in the Standard & Poor's 500 Index, the benchmark for most mutual funds. S&P typically requires IPOs to trade for six to 12 months before considering the companies for its indices.
The announcement of a new company to the S&P 500 index typically results in a 5.7 percent one-day pop in the company's shares, according to a paper in Financial Management in 2006. (Reporting By David Randall; Editing by Walden Siew and Tim Dobbyn)
IPO Scorecard: Update On Selected Initial Stock Offerings
PROVIDED BY Dow Jones & Company, Inc. - 2:44 PM 05/16/2012
Company Symbol Percent Current Offer Date
Natural Food Co BNNY 99% $37.76 $19.00 27-Mar-12
Splunk Inc. SPLK 81% $30.74 $17.00 19-Apr-12
Demandware Inc. DWRE 80% $28.83 $16.00 14-Mar-12
ClearSign Combustion Corp CLIR 66% $6.64 $4.00 25-Apr-12
Vocera Communications VCRA 58% $25.23 $16.00 28-Mar-12
Cloxis Oncology CLVS 47% $19.15 $13.00 3-Apr-12
Enphase Energy Inc. ENPH 40% $8.38 $6.00 30-Mar-12
Vantiv Inc. VNTV 29% $22.00 $17.00 22-Mar-12
ExactTarget Inc ET 27% $24.15 $19.00 22-Mar-12
Ignite Restaurant Group Inc. IRG 27% $17.79 14.00 11-May-12
Supernus Pharmaceuticals Inc SUPN 24% $6.19 $5.00 1-May-12
Infloblox Inc. BLOX 20% $19.18 $16.00 19-Apr-12
Till'y Inc TLYS 18% $18.30 $15.50 4-May-12
Audience Inc. ADNC 17% $19.95 $17.00 10-May-12
Nationstar Mortgage Holding NSM 17% $16.37 $14.00 8-Mar-12
WageWorks Inc. WAGE 17% $10.52 $9.00 9-May-12
Caeserstone Sdot-Yam Ltd CSTE 15% $12.70 $11.00 22-Mar-12
TUMI Holdings TUMI 13% $20.38 $18.00 18-Apr-12
Midstate Petroleum Co. MPO 12% $14.61 $13.00 19-Apr-12
Everbank Financial Corp EVER 10% $11.00 $10.00 3-May-12
Rexnord Corp RXN 10% $19.75 $18.00 28-Mar-12
Proofprint Inc. PFPT 8% $14.08 $13.00 19-Apr-12
Digital Cinema Destinations DCIN 8% $6.58 $6.10 17-Apr-12
Forum Energy Technology FET 6% $21.20 $20.00 11-Apr-12
Regional Management RM 6% $15.88 $15.00 27-Mar-12
Merrimack Pharmaceuticals MACK 4% $7.25 $7.00 28-Mar-12
Edwards Group Ltd. EVAC 3% $8.24 8.00 11-May-12
TCP Capital TCPC -2% $14.44 $14.75 4-Apr-12
MRC Global MRC -2% $20.48 $21.00 12-Apr-12
The Carlyle Group LP CG -3% $21.44 $22.00 3-May-12
PetroLogistic LP PDH -4% $16.35 $17.00 3-May-12
Oaktree Capital Group OAK -7% $40.10 $43.00 11-Apr-12
Millennial Media MM -8% $11.92 $13.00 28-Mar-12
Envivio Inc. ENVI -10% $8.11 $9.00 25-Apr-12
Allison Transmission Holding ALSN -18% $18.86 $23.00 14-Mar-12
CafePress Inc. PRSS -20% $15.15 $19.00 28-Mar-12
GasLog Ltd GLOG -22% $10.94 $14.00 30-Mar-12
(END) Dow Jones Newswires
05-16-12 1444ET
Hope you had a good day Stuffie....
Catch you in the morning..
See ya tomorrow! Hope all had a decent day...
Report: Apple starting production of a 4? iPhone 5 in June
Sweet...can you say SkyNet???..
Wish that iPhone in the palm of your hand was a little bigger? According to the Wall Street Journal, your prayers are about to be answered: The new iPhone 5 will feature a 4-inch display, a half inch larger than current iPhone 4 models — and closer to 4" or larger Android phones that are now commonplace.
Sources suggest that Apple is ordering large numbers of the larger screens from a number of suppliers, including LG, Sharp, and Japan Display Inc. The same reports suggest that production of the new iPhone 5 will begin in June.
Any news about the iPhone 5 is welcome, of course — there's little doubt that the device is already the most awaited smartphone of 2012. The report lacks information about other features the phone may have, but its been suggested elsewhere that the iPhone 5 will also feature 4G wireless speeds, a long-awaited upgrade. The iPhone 5 is also expected to use Apple's own military-grade 3D mapping software instead of Google Maps.
Deutsche Bank initiates Ocean Rig UDW (ORIG -1.7%) at Buy with a $22 price target, believing ORIG is well positioned to benefit from rising deepwater day rates and limited near-term supply growth. With a fleet of six high quality rigs and an additional three new builds slated for 2013, the firm says ORIG has one of the youngest and most targeted fleets in the industry.
The NBER's Justin Wolfers on the FOMC minutes: "We have a plan. We don't plan to follow it. But our plan to revise our plans isn't a plan either ... (it's) painfully clear that forward guidance is mostly (baloney) and that it doesn't represent their current plans."
Petrobras (PBR +2.2%) reports its Q1 net profit dropped 16% Y/Y as higher sales volumes were offset by lower foreign exchange gains on overseas debt, but EPS of ~$0.36 and revenues (+22% Y/Y) easily beat analyst estimates. Exports rose to 714K bbl/day vs. 631K bbl/day in the year-ago period; demand for gasoline and diesel rose 24% and 9%, respectively
Rosetta Genomics (ROSG +284%) shares shoot into orbit after the microRNA-based molecular diagnostic test maker says Novitas, the designated Medicare Administrative Contractor for its miRview® mets² assay, announced it plans to cover the assay for all Medicare beneficiaries.
Investors who question that the goodwill and intangible assets that Chipotle (CMG +0.4%) holds on its balance sheet is too high should probably rest easy, according to Hewitt Heiserman's analysis. The author - known for dissecting the AOL goodwill debacle up and down in a well-received book - sets 20% as the worrying mark for the metric, while CMG has an intangible assets ratio of ~1%.
Gartner estimates mobile phone sales fell 2% Y/Y in Q1
- that's a bit worse than the 1.5% drop estimated by IDC, and leads the firm to think its 2012 estimates will have to come down. However, Gartner believes smartphone shipments grew 44.7% Y/Y (IDC is at 42.5%), with Android (GOOG) and the iPhone (AAPL) accounting for 56.1% and 22.9% of sales, respectively. NOK's Symbian saw its smartphone share fall by over 2/3 to 8.9%, while RIMM's fell by nearly half to 6.9%
Bruno Iksil - the "London Whale" in JPMorgan's (JPM) risk-management unit - is said to have left the bank in the wake of the disastrous trade that has cost $2B and counting.
A number of Internet stocks are rallying yet again ahead of Facebook's IPO, as expectations grow for a strong debut. GOOG +2.6%. YELP +2.5%. P +2.7%. RENN +4.3%. QPSA +2.7%. DMD +6.3%. LNKD +1.8%. However, top Facebook customer Zynga (ZNGA -2.7%) is giving back some of yesterday's gains
Goldman says current Q1 Street estimates for Tech Data (TECD -1.6%) are too agressive given European weakness, and the firm sees risk to 2H revenues. It maintains its EPS estimate of $1.12 on $6.21B in revenue, which is 15% below consensus estimates of $1.17 per share on $6.19B in revenue.
Whirlpool (WHR +2.3%) jumps higher despite yesterday's revelation that John Paulson shed his stake in the company
- a move that NBG's Brian Sozzi tweets is telling based on the company's "durable competitive advantages." Today's minor run in share price has been helped by a strong presentation by management at a JPMorgan homebuilding conference that includes a reiteration of full-year EPS at $6.50-$7.00.
LOL yes I understand that...Friday could be an interesting day
Google Revamps Search Engine To Make It Smarter
05/16 01:10 PM
--------------------------------------------------------------------------------
SAN FRANCISCO (Dow Jones) -- Google Inc. (GOOG:$626.81,00$15.70,002.57%) said Wednesday it is rolling out an extensive update to its dominant search engine by using massive troves of data to refine the answers it provides to user queries on specific topics.
The "Knowledge Graph" being rolled out by Google (GOOG:$626.81,00$15.70,002.57%) within its search service over the coming weeks uses a database of about 500 million people, places and things compiled by the company to figure out exactly what users are looking for, and present them with additional, related information.
An example would be a search for the term "Kings," which could be a professional basketball team, hockey team or TV series, said Google Fellow Ben Gomes.
Using the new feature, Google (GOOG:$626.81,00$15.70,002.57%) will be able to figure out which "Kings" users mean by giving them some options, and then presenting them with a box on the right of search results with related photos and other data.
"There's only so far that words themselves can take us," Gomes said. "What we need to do is create a map of all the things in the real world, and the relationships between them."
The new service builds on Google's (GOOG:$626.81,00$15.70,002.57%) purchase of start-up Metaweb Technologies Inc., which had developed the Freebase database of information, in 2010.
Other data sources it has tapped include Google's (GOOG:$626.81,00$15.70,002.57%) own Books and Local services. In addition, "We have cars driving all over the place learning about places and businesses," Gomes said, in reference to Google's (GOOG:$626.81,00$15.70,002.57%) Street View cars which roam the streets gathering mapping and other data.
Gomes said he doesn't anticipate the new feature will detract much from the search links paid for by advertisers, which traditionally appear on the right of a Google (GOOG:$626.81,00$15.70,002.57%) search page: "It has no significant impact on our ads."
He declined to say what percentage of total Google (GOOG:$626.81,00$15.70,002.57%) searches would be affected.
The move could bolster other Google (GOOG:$626.81,00$15.70,002.57%) initiatives, such as its Wallet mobile payment service. For example, Gomes noted that a search on a phone for a particular musician could return information including the date and time of their next concert.
The new feature is sweeping amplification of the so-called OneBox results that Google (GOOG:$626.81,00$15.70,002.57%) has been presenting alongside some search results for years, which include small bits of in-house data compiled by Google (GOOG:$626.81,00$15.70,002.57%) .
Google (GOOG:$626.81,00$15.70,002.57%) held a 66.5% share of the U.S. search market as of last month, according to comScore data. That compares to a combined 28.9% share for Microsoft Corp. (MSFT:$29.94,00$-0.27,00-0.89%) and Yahoo Inc. (YHOO:$15.405,0$0.005,00.03%) , which have teamed up in a search alliance.
-By John Letzing, Dow Jones Newswires; 415-765-8230; john.letzing@dowjones.com
(END) Dow Jones Newswires
05-16-121310ET
Copyright (c) 2012 Dow Jones & Company, Inc.
I have an open order in for IPO shares via
Fidelity ----- which I highly HIGHLY doubt
will get filled.
The irony of it all is.............I think I
will be HAPPY if it doesn't!!!
AT&T (T) and U.S. Cellular (USM) are paying $304M to buy spectrum from cable operator Cox. AT&T's spectrum purchases cover 8 states, while U.S. Cellular's cover 5. The collapse of the T-Mobile deal, along with the spectrum transfer that was part of AT&T's breakup fee, has sent Ma Bell on the hunt for new airwave purchases. It was recently reported AT&T has held talks to buy Leap Wireless (LEAP), and speculation also exists about a bid for Dish Network (DISH).
FEATURE-Facebook IPO triggers retail investor craze
05/16 12:47 PM
--------------------------------------------------------------------------------
* Facebook (FB:...) shares begin trading on Nasdaq on Friday
* Retail investors ignore warnings from wealth managers
* Expert sees up to 30 pct jump on debut, urges caution
By Alistair Barr and Olivia Oran
SAN FRANCISCO, May 16 (Reuters) - If "Facebook For Dummies" helped you find friends and post pictures on the world's No. 1 online social network, then consider "Facebook IPO Confidential" which purports to teach you "How To Get Rich With The IPO Of The Century."
The e-book is one of about eight self-help manuals that appear to have sprung up overnight to try to capitalize on the frenzy surrounding Silicon Valley's biggest initial public offering.
With other titles such as "The Facebook IPO Pitch: Are You In?" and "How To Invest In Facebook", these books are far from bestsellers. But, along with countless online forums and news articles about the IPO, they underscore the desire of ordinary people - many of whom have never invested in stocks before - to get in on the $15.2 billion share sale.
"If you can't invent Facebook (FB:...) , the next best bragging rights would be to say that you had invested in the social media phenom when it was a dorm room project. If not then, perhaps the IPO," Nancy Miller wrote in a guide titled "The Facebook IPO Primer."
Many wealth managers are advising their clients to avoid Facebook (FB:...) , pointing to a sky-high valuation of up to $104 billion set by the IPO, and potentially much higher once it starts trading. The company also shows signs of slowing growth, has yet to figure out how to make money on mobile, and new shareholders will have little influence as nearly 56 percent of voting shares will be in the hands of one person: Chief Executive Mark Zuckerberg.
But such warnings are falling on deaf ears as many people are drawn in by Facebook's (FB:...) brand name and the fact that one in seven people around the globe are on the social network. Facebook Inc (FB:...) on Tuesday increased the size of its IPO by nearly 25 percent and raised the target price range.
"I can't remember another IPO that got this much attention," said Max Wolff, a senior analyst at GreenCrest Capital. "Half the people talking about the Facebook IPO probably don't know what IPO stands for."
The strong demand means that most retail investors will have to wait until Facebook (FB:...) begins to trade on the Nasdaq on Friday to get hold of the shares - and risk getting trampled. If the stock skyrockets, the average person might end up getting orders filled at a price much higher than they wanted and then face the possibility of losses as funds steamroll in and then zip back out, taking the price off its highs.
"I don't know if buying on the day of the IPO is the best idea, but I like the novelty factor of it and being able to say that you bought on the first day," said Micah Stubbs, a first-time investor who works in the oil and gas industry and lives in Bartlesville, Oklahoma.
Facebook's (FB:...) share price could surge 30 percent on debut day, said Reena Aggarwal, a professor of business administration and finance at Georgetown University'sMcDonough School of Business in Washington. She suggested retail investors may be better off holding off for a few weeks until the share price settles.
"The market will try to figure out the right price for the stock and it's going to open really high," Aggarwal said. "There are lots of risks - the company is high growth but also high risk, and there is a lot of uncertainty, so retail investors have to be careful."
SLIM CHANCES
Facebook (FB:...) is going public after accumulating almost a billion users, nearly $4 billion in annual revenue and a brand name augmented by the 2010 Oscar-winning film "The Social Network", which charted the rise of Zuckerberg who started Facebook (FB:...) in his Harvard University dorm room.
Most ordinary people have only the slimmest of chances of getting hold of IPO shares as Facebook's (FB:...) 33 underwriters, led by Morgan Stanley (MS:$13.94,00$-0.20,00-1.41%) , JPMorgan and Goldman Sachs , are expected to give priority to their most important clients, usually institutional investors.
Typically, only 5 to 30 percent of IPO shares are set aside for retail investors, underwriters say.
Discount broker E*Trade Financial (ETFC:$9.085,0$0.005,00.06%) , which was added to the list of IPO underwriters at the last minute, offers some help. Last week, its home page threw up a pop-up box explaining what investors need to do to get in on IPOs.
Would-be buyers have to answer about 25 questions about their financial status and investment habits. They are then prompted to place a conditional offer for at least 50 Facebook (FB:...) shares and a maximum price they are willing to pay per share.
Online prediction market Intrade, which lets investors bet on major events such as the U.S. presidential election, offers another alternative. It started a contract on Tuesday for bets on where shares of the social network will close on their first day of trading.
DAY TRADERS
Facebook (FB:...) reported $205 million in first-quarter profit, down 12 percent from the same period a year ago. While sales leapt 45 percent year-on-year to $1.6 billion, that lagged the 55 percent growth of the fourth quarter.
On Tuesday, General Motors Co (GM:$22.17,00$0.75,003.50%) said it will stop advertising on Facebook (FB:...) , amid concerns that the ads have had little impact on consumer spending. The auto maker continues to use Facebook (FB:...) pages for marketing its vehicles, but the news underscored the risks Facebook (FB:...) faces as it tries to boost revenue from its huge user base.
RegentAtlantic Capital is among the wealth managers recommending clients stay away, without much success.
"Most clients or their children have some interaction with Facebook (FB:...) , so I believe the demand will be high," RegentAtlantic wealth advisor Chris Cordaro said, warning that there could be "a lot of pain" ahead for investors who buy at inflated prices on Friday.
Because of such concerns, some retail investors plan to get in and get out of the stock quickly. That may be fine if they get in at the IPO price but if they end up buying once the shares have started trading up, they may not be so lucky.
"Retail participation is associated with more speculation and noise, and because of that there is more volatility," said David Sraer, a professor of economics at Princeton University. "They tend to herd together and be on the same side of the market, which drives imbalance."
Retired chemical engineer Alvan Sweet ordered through Schwab 10,000 Facebook (FB:...) shares worth $380,000 at the high end of the indicative IPO price range. If he is lucky enough to get an allocation, he plans to dump the shares on day one or two.
Sweet, whose son is a senior managing partner of the IPO Boutique advisory firm, has invested in IPOs before but says this is the first time friends in his Florida condo community have pestered him about getting shares. "They were hoping that because my son is in the business I would have access," he said.
One of his friends, Lucky Bloch, admits to losing money on an IPO before. But he is confident this investment will pay off.
"Initially Over-Priced is what IPO should stand for," he complained. "If you can get in before the first day, then sell a couple of days later, there's money to be made," he told Reuters. "Can you help me get shares?" (Additional reporting by Alexei Oreskovic and Sarah McBride, editing by Edwin Chan, Tiffany Wu and Richard Chang)
Fed's Bullard sees risk of lengthy policy pause
05/16 12:30 PM
--------------------------------------------------------------------------------
WASHINGTON (MarketWatch) - The main risk for Federal Reserve policymakers at the moment is holding monetary policy too easy for too long, a senior Fed official said Wednesday. James Bullard, the president of the St. Louis Fed, said over-committing to the ultra-easy policy stance could reignite "a 1970s-type experience globally" that included four recessions in 13 years along with double-digit inflation and double-digit unemployment. "The lesson was clear: do not let the inflation genie out of the bottle," Bullard said in a speech to a business group in Louisville, Ky. At the moment, the Fed is "on pause" because of better-than-expected data over the past nine months and an increase in inflation over the past year-and-a-half, he said. The best way to enhance the Fed's communication with the market may be to replicate the Bank of England's quarterly inflation report, Bullard said. The latest BOE report consists of 56 pages of texts and charts about the economic outlook.
Sounds like the only winning plan today...
Good luck Pard...
Good morning, Longhorn and all.
Can't make heads nor tails here. Kick 'em out I say, get it over with and let Greece go 3rd World. The country would probably be a great place to visit in summer as the buck will be worth a fortune there on the black market.
Intel is back into the $26's. :(
I'm going with a friend to a local Indian casino for the day. Gonna see if I can hit some major jackpots on the slots. Have a great day, Pard.
Trueheart
What a shocker...LOL
A week after diving on account of poor guidance and downbeat commentary, Cisco (CSCO +0.5%) receives an upgrade to Overweight from Barclays'
Jeff Kvaal, who argues the company's healthy book-to-bill and low DSOs suggest business isn't as bad as it seems. Kvaal also says checks indicate demand is stable, and thinks Cisco's server sales (3% of FQ3 revenue) can offset networking weakness. Future storage products are also seen as a possibility.
Facebook IPO: Insiders Cashing Out
Facebook Inc. on Wednesday boosted the size of its initial public offering by as much as $3 billion, as some major stockholders sharply increased the number of shares they intend to sell as part of the IPO.
In an updated filing, Facebook increased the number of shares it will offer in the IPO to 421.2 million from 337.4 million. The additional shares—which would be worth $3.2 billion at the high end of current price range—come from venture capitalists and early investors looking to cash out a greater number of their shares. The company itself isn't selling any additional shares.
Some of Facebook's biggest shareholders are now selling as much as half of their stakes in the company, just days after the company raised its expected IPO price range. For example, Goldman Sachs and Tiger Global now plan to sell as much as 50% of their stakes, up from 23% and 7%, respectively.
http://www.wsjonline.com
More on the ECB/Greek bank story:
The ECB move to stop assistance to several (it appears 4) Greek banks is the result of their capital balances turning red. Under ECB rules, it cannot lend to such banks, who must instead borrow through the Bank of Greece (which, in essence, borrows from the ECB). No one is being cut off.
Though its Q1 results missed estimates and its 2012 revenue guidance of $250M is well below a $310.9M consensus, KIT Digital (KITD +6.6%) is bouncing off its all-time lows, as investors decide enough bad news is baked in. Also possibly helping is a 13-D from activist investor Costa Brava. The firm discloses it has boosted its stake in KIT, which has seen a management shakeup, to 6.3%, and is nominating 6 members to the company's board.
What To Expect During Friday's Facebook Frenzy
http://www.investopedia.com/financial-edge/0512/What-To-Expect-During-Fridays-Facebook-Frenzy.aspx?partner=ntu12#axzz1v34dZd5J
Well, so much for that WINning strategy!!
Windstream Corp sets a new 52-week low
05/16 11:01 AM
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Windstream Corp (WIN:$9.37,00$-0.04,00-0.43%) crossed below its 52-week low of $9.38 on 11:00 AM ET on May 16, 2012.
Out, last-add ( VXX ) $19.47 from $18.81 ..
ECB will stick to it's current policy
EDAP weak quarter but they have 11 machinew backlog , I own none but near historic lows near 1.50 interesting?
Survey Reveals Relationship between Women's Financial Situation, Stress Levels and Overall Health
Aviva USA survey finds most U.S. women feel healthy, despite reporting financial concerns and major risk factors for future health problems
05/16 10:35 AM
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WEST DES MOINES, Iowa--(BUSINESS WIRE)-- A strong relationship exists between women’s level of stress, how they feel about their financial situation and their overall health, according to a new survey by Aviva USA in collaboration with Mayo Clinic.
Three out of four women report they are somewhat, very or extremely stressed. Among those who are extremely stressed, 82 percent said they are uncomfortable with their financial situation. In addition, 58 percent of women report having gained weight in the past 10 years. That number jumps to 68 percent among women identifying themselves as extremely stressed.
The survey focused on the tie between health, stress and financial issues. In support of National Women’s Health Week, May 13-19, Aviva USA and Mayo Clinic encourage all Americans to establish habits to improve their overall health and well-being.
Although the majority of American women say they have gained weight in the past 10 years and feel stressed, nearly four out of five women consider themselves to be in good to excellent health. So why should these women worry?
“People may not think of it this way, but we all make important health decisions every day,” said Dr. Philip Hagen, medical director of Mayo Clinic EmbodyHealth and vice chair of the Division of Preventive and Occupational Medicine at Mayo Clinic. “Most of the women in this survey reported feeling healthy, but they also reported significant rates of two important health risk factors – weight gain and stress – that contribute to chronic health conditions and a poorer quality of life in the long-run. The good news is we know how to lower these risks with simple lifestyle changes we can make through small steps, but by doing it every day. The message here is that lower risk means better health – and it's doable!”
Aviva USA surveyed more than 2,000 U.S. adults – men and women – on their health habits and financial preparedness to uncover how these factors impact their overall well-being. The survey was conducted by Ipsos, a leading global survey-based market research company. Additional key findings related to women are:
Only about a third of women are comfortable with their current financial situation.
The primary factor contributing to stress for women ages 30-54 is their financial situation, while women ages 55-70 list family/relationships as their top stress factor.
Women who report being extremely stressed are 3½ times more likely to be uncomfortable with their financial situation than those who are not at all stressed.
One out of four women ages 30-70 rarely or never exercise.
Fifty-one percent of women ages 30-54 admit to feeling “overwhelmed” sometimes when thinking about preparing for retirement, while 42 percent of women ages 55-70 feel the same way.
“These survey findings reveal that women often feel anxious about both their financial situation and their health,” said Chris Jones, chief marketing officer for Aviva USA. “It seems the women we surveyed feel the need to be better prepared for retirement and also would benefit from taking steps to take better care of themselves.
“That’s part of the reason Aviva and Mayo Clinic are working together to provide wellness benefits, resources and expertise to help our Wellness for Life policyholders manage their health,” Jones added. “We wanted to offer customers a program that encourages better financial and physical health. Our Wellness for Life rider enables people to save money on their life insurance and stay healthy with access to Mayo Clinic’s wellness resources.”
Wellness for Life is a unique enhancement to a life insurance policy in the form of an optional rider that can reduce out-of-pocket premium costs over time. The cost of insurance charge is discounted if the insured visits the doctor at least every other year for physical exams, and cost savings are even greater if the insured simply maintains his or her weight within a range established at policy issue. Additionally, Mayo Clinic, an internationally renowned healthcare organization, offers supporting resources and expertise to help policyholders manage their health through the Aviva Wellness for Life program. Best of all, premium costs can only go down with the Wellness for Life program and will never increase as a result of doctor visits.
The most recent television advertisement about Aviva’s Wellness for Life can be seen on Aviva USA’s YouTube channel: http://www.youtube.com/AvivaUSA.
About the survey
The survey was conducted April 19-20, 2012. A national sample of 2,068 adults aged 18 and older were interviewed online. The sample was representative of the general U.S. population based on region, gender, age and household income data from the U.S. Census Bureau. Ipsos is a leading global survey-based market research company that helps interpret, stimulate and anticipate the needs and responses of consumers, customers and citizens around the world.
About Mayo Clinic
Mayo Clinic is a nonprofit worldwide leader in medical care, research and education for people from all walks of life. For more information, visit MayoClinic.com or MayoClinic.org/news.
About Aviva USA
Aviva USA is a sales leader of indexed life insurance and indexed annuities. Headquartered in West Des Moines, Iowa, Aviva USA also has offices in Topeka, Kan., and Melville, N.Y. Aviva USA has approximately 930,000 customers and employs 1,800 people across the country. Aviva USA is part of Aviva plc (AV:$9.05,00$0.09,001.00%) , the world’s sixth-largest insurance group, and can trace its presence in the U.S. back to 1896.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50280358&lang=en
Source: Aviva USA
KC connection
Pearson buys Certiport to expand testing business
05/16 10:21 AM
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* Certiport makes 60 percent of sales outside N.America
* Top customers include Microsoft (MSFT:$30.1469,$-0.0631,-0.21%) , Adobe, HP
* Presence of 12,000 testing centres in 150 countries
LONDON, May 16 (Reuters) - British education and publishing group Pearson has bought Certiport, which provides testing and certification services for leading IT companies, for $140 million in cash from Spire Capital Partners, it said on Wednesday.
Pearson, which owns the world's biggest education business as well as the Financial Times and Penguin Books, said the move would expand the product range and geographical reach of its professional testing business.
U.S.-based Certiport makes more than 60 percent of its revenues outside North America and is particularly strong in Asia and the Middle East, in line with Pearson's strategy of expansion in emerging markets.
Its top customers include Microsoft (MSFT:$30.1469,$-0.0631,-0.21%) , Adobe and Hewlett-Packard (HPQ:$22.68,00$0.28,001.25%) , and it has a network of 12,000 testing centres in more than 150 countries.
Pearson administers millions of tests each year for the private and public sectors in areas ranging from construction to mathematics.
The business is a key driver of its professional education unit, which increased its sales by 15 percent to 382 million pounds ($613 million) last year, representing about 7 percent of Pearson's group sales.
($1 = 0.6235 British pounds) (Reporting by Georgina Prodhan; Editing by Elaine Hardcastle)
Economic Outlook: Facebook's faceoff
05/16 09:38 AM
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U.S. automaker General Motors (GM:$22.355,0$0.935,04.37%) , one of Facebook's (FB:...) biggest accounts, is quitting the social media Web site, saying it is not cost-effective to advertise there.
What's the new plan? That includes GM keeping a presence on Facebook (FB:...) , but not through paid advertising, The New York Times (NYT:$6.455,0$0.065,01.02%) reported Wednesday.
Facebook (FB:...) has already made a number of moves on its own in recent weeks to give investors cause for concern. In March, Facebook (FB:...) revealed it had purchased 750 patents from IBM (IBM:$200.10,00$1.06,000.53%) . In a separate deal, it purchased $550 million worth of patents from Microsoft (MSFT:$30.115,0$-0.095,0-0.31%) , which had recently bought $1 billion in patents from AOL (TWX:$35.5901,$0.3101,0.88%) .
Facebook (FB:...) then purchased photo-sharing Web site Instagram for $1 billion in a deal struck, apparently, by Facebook (FB:...) founder Mark Zuckerberg without informing his board of directors he was about to do so.
Now, just days away from Facebook's (FB:...) initial public offering, one of its biggest advertisers says it is not cost-effective to pay for advertising on Facebook (FB:...) , but it does pay to have a presence there.
What looked like an unstoppable juggernaut of a business just 8 years old, now looks like a potentially reckless investment -- a behemoth run by an under-30 autocrat who shows up on Wall Street to meet with some of the world's most prestigious bankers wearing sneakers, a T-shirt and a hoodie.
Nothing says I own you more than underdressing for an occasion. Leave it to the plebeians to dress to impress.
It turns out, Zdnet reported, Zuckerberg may have even paid more for Instagram than was originally reported. That's because the $1 billion figure is based on $300 million in cash, plus 23 million shares of Facebook (FB:...) . Should Facebook (FB:...) do well with its IPO, the deal for the 19-month-old, free photo-sharing company with 13 employees could be worth considerably more than $1 billion. Similarly, if Facebook (FB:...) shares go up in value in the future, Instagram's investors will have done even better.
But the central question remains unanswered. That question revolves around the intrinsic value of company that includes almost a billion members who, logic dictates, are not there primarily to shop.
Facebook (FB:...) was built on the philosophy that advertising played second fiddle to the social functions of the Web site. Build up a great brand and nearly a billion members and the advertisers will come knocking on our door. How could they resist?
This week, Facebook (FB:...) said it would increase the number of shares it offered for sale to 421 million, a 25 percent jump from its previous offer. The sales price is expected to start near $38 per share, which would raise $16 billion.
This could increase to $18 billion, should shares set aside for high demand be sold, as well.
Overall, that could make Facebook (FB:...) worth $104 billion or so -- give or take an advertiser or two.
In international markets Wednesday, the Nikkei 225 index in Japan lost 1.12 percent while the Shanghai composite index in China fell 1.21 percent. The Hang Seng index in Hong Kong plunged 3.19 percent while the Sensex in India declined 1.85 percent.
The S&P/ASX 200 in Australia gave up 2.36 percent.
In midday trading in Europe, the FTSE 100 index in Britain slipped 1.01 percent while the DAX 30 in Germany shed 0.94 percent. The CAC 40 in France was almost even, dropping 0.02 percent, while the Stoxx Europe 600 slipped 0.89 percent.
Treasurys fall after housing starts
I agree....later Stuffie..
G/L to ALL P O O F!
Just posted OC's last twit "sitting on hands", could be a very good idea for the day! NOW, I'm outta here.....
>>OptionsCommander<>Out puts...sitting on hands. Will let FOMC come out, look for entries. High risk of churn, deadly for near expy May strikes. $SPY $VXX $TLT
Abercrombie slumps; Europe leads to sales miss
By Andria Cheng May 16, 2012, 9:53 a.m. EST
NEW YORK (MarketWatch) -- Teen retailer Abercrombie & Fitch Co. shares slumped 13% after its first-quarter profit and sales missed analysts' estimates. Profit declined to $3 million, or 3 cents a share, from $25.1 million, or 28 cents a share. Sales rose 10% to $921.2...
cc Now>ANF -12.7% falls sharply after its outlook on FY12 earnings rattle investors
FISCAL CLIFF>>The United States’ economy could shrink as much as 4 percentage points in the first half of 2013 if Congress fails to address the expiration of $600 billion worth of tax breaks and jobless benefits by the end of this year, according to Goldman Sachs.
full http://www.cnbc.com/id/47439851
European shares are giving up their meek rally attempt as ECB President Draghi takes the occasion of a gathering panic to speak about the bank's focus on price stability as keeping inflation expectations down. On Greece, he says the EU treaty sees no possibility of an exit from EMU. "Dude, a lot of stuff is not in the treaty," snipes Dow Jones' Katie Martin.
U.S. stocks open higher after upbeat economic data
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DISCLAIMER:
1. DO THE MATH!!! - Before placing any trade, do the math. Where is the trigger? Where is the proper stop based on the chart setup? How many shares should I buy? This is easy to figure out. You never want to lose more than 1% of your trading account balance on any given trade. So, if you have a $30,000 account, your maximum acceptable loss on any given trade should be $300. If the stop is .20 cents below the entry price (again, based on the chart setup), then you should not buy more than 1500 shares (for the purpose of this lesson I have left commissions out of the equation for simplicity).
2. PAY YOURSELF!!! - Once you have a small profit (I use a dime as a rough personal guideline) sell part of your position and move your stop to breakeven on the rest. You will have very few losing trades if you do this, and the losses you do have will be small.
3. STOP TRADING!!! - What do I mean by this? If you hit your daily goal (everyone should have one and make it realistic) stop trading. Afternoons are tougher to trade than mornings anyway, so take the money and run....tomorrow is another day.
4. STOP TRADING!!! - Didn't we go over this already? Well, this one has another meaning. If you lose 1/2 the amount of your daily goal, stop trading and come back tomorrow. For instance, if your goal is to make $500 a day, and you are down $250 on the day, quit for the day. This is the best way to avoid falling into a 'trading death spiral'.
DOW 30 HEATMAP
http://www.stockmarketdrama.com/dow30heatmap.php
http://finviz.com/futures_charts.ashx?p=m5
This is a great free site to get some good info about technical analysis.
www.informedtrades.com/trades.php
http://stockcharts.com/school/doku.php?id=chart_school
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns
Charting tools
http://www.stockcharts.com
http://www.chartpatterns.com
http://stockcharts.com/education/IndicatorAnalysis/
http://www.investopedia.com/categories/technicalanalysis.asp
http://www.candlesticker.com/Default.asp
http://candlestickforum.com/PPF/Parameters/16_332_/candlestick.asp
http://www.incrediblecharts.com/technical/candlesticks.htm
http://www.chartpatterns.com/
http://www.investopedia.com/university/technical/techanalysis8.asp
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators
http://www.freestockcharts.com/
http://www.barchart.com/
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