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Bring that 0.012!
Is this gonna be the day of the deuce? :)
Whats up bro???? weeeeeeeeee!!
Alcatraz breakout startin at 0.0115!!
Morning Bro!
Today ANDS and ZAAP bro. And before those who shall remain nameless start breaking balls about ZAAP, yes I still like the company! lol.
Thanks Big E! And to you as well playa!!!
BTW how did PCIR fare for you yesterday? My L2's are on the fritz!
You're quite welcome my friend. And I know what you mean! :)
You know me, always on the look for that next louisville slugger play! lol.
You expecting more of the same on MGRN next week as well bro?
Morning v. How goes the week?
Friday's Visitor's Day Picks : BWNR (rumblings), ANDS (unleashed on news!), and a classic ZAAP (news out).
GM UPB! What's the word today?
GM E Express! TGIF!
GM MARINE!!! On The Fly: Asian Markets Wrap-Up for Friday, January 9
Stocks in Asia retreated and were led down by auto makers and tech firms...JAPAN: The Nikkei 225 Stock Average fell 39.62, or 0.5%, to 8,836.80, while the broader Topix index lost 5.87, or 0.7%, to 855.02. Toyota (TM) slid 2.2% to Y3,070. Toyoda Gosei dropped 4.9% to Y1,136. Nissan Motor Co. (NSANY) tumbled 5% to Y343. Fanuc sank 7% to Y6,250. Takeda gained 1.4% to Y4,470. Japan Tobacco added 3.4% to Y305,000. Fast Retailing Co. increased 3.5% to Y12,670...CHINA: The CSI 300 Index advanced 30.37, or 1.6%, to 1,918.36. Guiguan Electric was up 2% to 6.72 yuan. Huaneng Power International (HNP) climbed 2.4% to 7.29 yuan. China Shipping gained 4.1% to 9.21 yuan. China Cosco Holdings Co. rose 2.3% to 8.17 yuan. Zijin Mining Group Co. added 0.07 yuan, or 1.5%, to 4.91...AUSTRALIA: The S&P/ASX 200 Index advanced 41.40, or 1.12%, to 3,735.70. Goodman Fielder leapt 9.1% to A$1.50. Newcrest (NCMGY) jumped 8.1% to A$30.65...AROUND ASIA: The Hang Seng Index retreated 38.47, or 0.3%, to 14,377.44. Bank of Communications was up 0.4% to HK$5.65. Foxconn slumped 15% to HK$3.20. Yue Yuen fell 6% to HK$15.04. :theflyonthewall.com
GM Forum! BWNR. ANDS. ZAAP.
GM Traders! Friday's playlist : BWNR (0.01), ANDS 4.00 ready for another break, and a classic ZAAP (news out yesterday) 0.259.
GM! U.S. Futures, Most European Stocks Retreat Before Jobs Report
Email | Print | A A A
By Adria Cimino
Jan. 9 (Bloomberg) -- U.S. stock-index futures and most European shares declined on speculation a report today will show the American economy lost jobs for a 12th straight month. A slump in automakers sent the MSCI Asia Pacific Index lower.
General Motors Corp. slid 2.7 percent in Germany before data that economists estimate will confirm the biggest collapse in U.S. employment since the end of World War II. Deutsche Postbank AG, Germany’s biggest consumer bank by clients, fell 4.4 percent after saying its 2008 results will be “clearly negative.” Nissan Motor Co. retreated 5 percent after laying off workers in the U.K. following a “dramatic” slump in demand.
The MSCI World Index decreased 0.8 percent this week as signs from Wal-Mart Stores Inc. and Intel Corp. that profits are deteriorating overshadowed government efforts to revive growth with stimulus packages and interest-rate cuts. The U.S. probably lost 525,000 jobs in December, economists said, while American companies have posted an 85 percent drop in earnings since the start of that month, data compiled by Bloomberg show.
“We see bad economic news everywhere,” Philippe Gijsels, a Brussels-based senior equity strategist at Fortis Global Markets, which has $62 billion under management, said in a Bloomberg Television interview. “As people start to realize it’s a very long recession, the bear market will continue.”
Standard & Poor’s 500 Index futures retreated 0.2 percent at 11:02 a.m. in London, indicating the benchmark index for U.S. equities will extend this week’s 2.4 percent slide.
Almost three shares fell for every two that rose in Europe’s Dow Jones Stoxx 600 Index, which added less than 0.1 percent. A retreat by Fanuc Ltd. helped push the MSCI Asia Pacific Index down 0.4 percent.
$1 Trillion
The MSCI World Index of 23 developed countries slumped 41 percent since the start of last year as $1 trillion in losses at financial companies eroded profits and the U.S., Europe and Japan fell into simultaneous recessions.
The projected decline in U.S. jobs, based on the median estimate of 73 economists surveyed by Bloomberg News, would bring last year’s payroll drop to 2.4 million, the most since 1945. The unemployment rate likely jumped to a 15-year high of 7 percent. The report is set for release at 8:30 a.m. in Washington.
Speculation the U.S. recession is worsening sent investors to the relative safety of government debt for a second day. Ten-year note yields fell three basis points to 2.41 percent, according to BGCantor Market Data.
GM, the largest U.S. automaker, tumbled 2.7 percent to $3.93. The company’s European division said sales fell 14 percent in December as all of its brands posted declines in the region.
Ford Motor Co., the second-biggest U.S. car maker, retreated 3.3 percent to $2.60 in Germany.
Obama’s $775 Billion
President-elect Barack Obama warned in a speech yesterday that the U.S. risks sinking deeper into an economic crisis without an infusion of government spending and urged Congress to act quickly on his $775 billion stimulus package.
Earnings at S&P 500 companies have fallen for five straight quarters, matching the longest streaks of declines on record, and the slump is forecast to continue. According to estimates compiled by Bloomberg, profits probably decreased 12 percent last quarter and will drop 11 percent in the first quarter and 6.2 percent in the following three months before rebounding in the second half of the year.
The S&P 500 has rebounded 21 percent from an 11-year low on Nov. 20 on optimism the recession will end this year after the Federal Reserve cut interest rates to as low as zero and Obama proposed the largest infrastructure investment since the 1950s.
The deepening economic contraction in the U.K. spurred the Bank of England yesterday to slash its benchmark interest rate to the lowest since the central bank was founded in 1694.
Financial Shares
Deutsche Postbank declined 4.4 percent to 13.68 euros. The bank’s fourth-quarter was burdened by deteriorating capital markets and as the lender cut stock investments, the company said today.
Natixis SA, the worst performing French banking stock in 2008, sank 9.3 percent to 1.31 euros after Les Echos said it may have recorded as much as 1 billion euros ($1.37 billion) of losses last quarter. Corinne Lavaud, a spokeswoman for Natixis in Paris, declined to comment on the report.
Commerzbank AG, Germany’s second-largest bank, fell for a second day after saying the government will take a stake as part of a new state bailout, prompting analysts to recommend selling the stock. The lender lost 6.5 percent to 4.91 euros after tumbling 14 percent yesterday.
Societe Generale SA analysts cut Commerzbank to “sell” from “hold” today on concern repaying funds from the state will burden earnings amid a tough economic climate in Germany.
Nissan, Fanuc
Nissan, Japan’s third-biggest automaker, declined 5 percent to 343 yen after saying it will eliminate about 1,200 workers at a U.K. factory. The car market is “extremely challenging” this year, the Japanese automaker said.
Fanuc, the world’s largest maker of factory robots, plunged 7 percent to 6,250 yen. Orders for equipment from manufacturers are likely to continue to decline, Hidehiko Hoshino, an analyst at UBS AG, wrote in a report. The analyst cut his rating on Fanuc to “sell” from “neutral.”
Infineon Technologies AG, Europe’s second-largest chipmaker, sank 9.9 percent to 96 cents. Merrill Lynch & Co. cut its recommendation on the stock to “underperform” from “neutral.”
Nestle SA lost 2 percent to 41.22 Swiss francs. The company was cut to “underweight” from “neutral” by JPMorgan Chase & Co. analyst Pablo Zuanic, who said he expects the maker of Nespresso coffee to miss its 2009 sales target.
Concern that stock losses will deepen remains elevated even after falling from record levels in October and November.
VStoxx, TED Spread
The benchmark index for European options, the VStoxx Index, climbed for a third straight day, adding 0.7 percent to 42.04. The gauge, which measures the cost of using options as insurance against declines in the Euro Stoxx 50 Index, surged to 87.51 in October, the highest since at least 2001, data compiled by Bloomberg show.
The difference between what the U.S. government and banks pay to borrow for three months, the so-called TED Spread, is still about three times higher than before credit markets started freezing in August 2007, according to data compiled by Bloomberg.
Treasuries last year returned the most since 1995, according to Merrill Lynch & Co. indexes, with investors seeking the relative safety of government debt as losses and writedowns at the world’s biggest financial companies swelled. The rally has faded this year, with Treasuries falling 1.1 percent, amid concern debt sales will swell to unprecedented levels as Obama boosts spending to snap the recession.
GM Loungers! Lazy Friday at last!
GM $oldier. Saw MGRN. SMOKING! Nice call bro!!!
Morning GA! The error of attacking the TARP
Posted Jan 9th 2009 4:03AM by Douglas McIntyre
Filed under: Economic data, Financial Crisis
A Congressional oversight committee has gone after the Treasury on how it used TARP funds. Doing so is like asking why the fire department picked a 4-inch hose to put out a fire rather than a 6-inch one. In a catastrophe, the need to save to save time trumps method.
According to The Wall Street Journal, "The U.S. Treasury has failed to reveal its strategy for stabilizing the financial system, not answered questions asked by a government watchdog, and has done nothing to help struggling homeowners, a report being released Friday charges."
What strategy would that be? Paulson & Co. were faced with a collapsing credit market and the chance that several major financial firms would fail. Under those circumstance, the whole US economic system could have melted down.
The original purpose of the TARP was to buy toxic assets from banks. The Treasury quickly decided that the process would take too long and would require complex calculations as to the value of troubled bonds which did not trade. Instead, Paulson elected to mainline capital into banks by taking equity positions in large financial firms. It would be hard to argue that this did not stabilize they system, at least temporarily.
The second major beef from the oversight committee is that Treasury did not do enough for mortgage owners. How would that have worked? Bailing out individual mortgages would have taken months, even if the process was done though the banking system. Which mortgages would quality? What would be the process for deciding whether help would be based on homeowner income or some other scale of need? How would hundreds of thousands of troubled home loans be identified.
The TARP was a fund for a series of emergencies. Looking back can always be done with 20/20 vision.
I remember MGRN! PCIR did well a couple days ago if remember correctly. I'll keep them on watch for sure. TY!!
;)
Popping by to say top o' the morning jar head! ;)
Anytime Soldier. Anytime. :) (you may also want to look in on GTCB FDA approval may be coming Friday)
Of interest today: ACTC (one more time!) BWNR (sleeping giant) GTCB (already waking up the p/m!).
Hahaha! Ever the clown bro!
I believe so. If that dime breaks we should be good for another run. JMO.
ACTC (0.09). BWNR (0.012). GTCB (0.80 UP ALREADY IN P/M). The "scarface" special today. Enjoy! :)
Hard to believe. Closed up 38.46%!
Today's green watch from Alcatraz : ACTC (0.09). BWNR(0.012 great entry). GTCB (0.80 p/m).
GM E Express! Looks like no country is untouched corrupt clowns like these :
Satyam: 'India's Enron'
Posted Jan 7th 2009 6:47PM by Peter Cohan
Filed under: India, Scandals
Satyam Computer Services (NYSE: SAY) has not opened for trading today but it was down 91% in "pre-market." When you hear why, you'll realize that Satyam could be India's version of Enron. There were glimmers of trouble a few weeks ago when Satyam's chairman, Ramalinga Raju, unilaterally decided to buy his son's construction companies -- Maytas Properties Ltd. and Maytas Infra Ltd -- but when the stock collapsed after the announcement, he pulled back within 12 hours.
While that was bad enough, the biggest shocker came today when Raju resigned after announcing that he had faked Satyam's numbers for several years. It turns out that the reason he wanted to buy those construction companies was to plug the $1.03 billion gap between the falsely accounted for and real cash on Satyam's books.
Here's an irony: the word Satyam means "truth" in Sanskrit. And when the truth came out, Satyam got into a rapidly cascading wave of troubles. First, shareholders blocked his asset purchases, then the World Bank banned Satyam from bidding for orders for eight years, alleging that improper benefits were given to World Bank employees. Then four directors quit, and finally, Raju quit the company and announced his fraud.
Guess who the London-based World Council for Corporate Governance gave the Golden Peacock Global Award for Excellence in Corporate Governance last September? None other than Raju.
So I would add Raju to this list of five Harvard MBAs who wrecked the global economy -- one of whom is Jeff Skilling, former Enron CEO.
Surprisingly well so far. Made good on an old account with ACTC and got some play off OCBM. Speak softly and carry a big stick (or a louisville slugger) seems to be working out for me so far! lol.
Morning CC! ACTC / BWNR / GTGB for today's hat trick! GL all!
GM $oldier! How was EOD for ya yesterday?
Morning Forum! Can't go a single day it seems without some sort of sobering news :
Stocks in Europe, Asia Decline on Earnings Concern; BHP Drops
By Adam Haigh
Jan. 8 (Bloomberg) -- Stocks in Europe and Asia dropped, sending the MSCI World Index lower for a second day, on concern the deepening economic slump is wiping out earnings growth and demand for commodities. U.S. index futures declined.
BHP Billiton Ltd. and Rio Tinto Group slid more than 3 percent as copper retreated in London. Lenovo Group Ltd. posted its steepest slump in a decade after the fourth-biggest personal computer maker predicted a quarterly loss. Infineon Technologies AG, Europe’s second-largest chipmaker, declined 5 percent.
The MSCI World Index fell 1.1 percent to 929.29 at 10:29 a.m. in London. The index of 23 developed nations sank 2.2 percent in the past two days as companies from Alcoa Inc. to Intel Corp. spurred concern the profit outlook is worsening. Citigroup Inc. estimates that the downturn in earnings is only a quarter of the way into a 50 percent slide from the peak. Futures on the Standard & Poor’s 500 Index slipped 0.5 percent.
“We call it the hard slog,” said Kevin Lecocq, chief investment officer at Barclays Wealth, which manages about $215 billion in assets. “You are going to see horrible numbers until some of the fiscal stimuli start to impact the real economy, which will probably come in the end of 2009 and into 2010,” he told Bloomberg Television in London.
The MSCI World has tumbled 42 percent since the start of last year as more than $1 trillion in losses at financial companies eroded profits and the U.S., Europe and Japan fell into the first simultaneous recessions since World War II.
Central Banks
Europe’s Dow Jones Stoxx 600 Index declined for a second day, losing 1.5 percent as ASML Holding NV retreated. The regional benchmark index had posted its best ever start to a year before yesterday on speculation efforts by governments and central banks will revive the global economy.
Confidence in the economic outlook for Europe fell to the lowest on record and unemployment rose to a two-year high, data showed today, adding to pressure on the European Central Bank for more interest-rate cuts.
The global slowdown may prompt the Bank of England to reduce its key interest rate today to an all-time low of 1.5 percent from 2 percent, according to economists surveyed by Bloomberg. The ECB has reduced its benchmark rate by 1.75 percentage points to 2.5 percent since October.
The MSCI Asia Pacific Index dropped 3.2 percent, the biggest decline since Dec. 12, as Cnooc Ltd. and Macquarie Group Ltd. retreated. U.S. futures slid before a report that may show the number of Americans filing for initial jobless claims rose last week.
‘Bad News’
Global equities “need to get more of the bad news out of the way before attempting a meaningful recovery,” Citigroup equity strategists led by Robert Buckland wrote in a note to clients dated yesterday. ING Wholesale Banking said stocks in western Europe will make little headway in 2009 and may test fresh lows in the first half of the year.
The western European companies tracked by Bloomberg that announced results since the Stoxx 600 began its rebound on Nov. 21 posted an average 75 percent decline in profit, with 92 percent missing analysts’ expectations.
BHP, the world’s largest mining company, lost 3.5 percent to 1,288 pence. Rio Tinto, the third-biggest, slid 5.4 percent to 1,714 pence. Copper fell as much as 3.9 percent in London.
Earnings at basic-resource companies in the Stoxx 600 will drop 18 percent this year, according to analysts’ estimates compiled by Bloomberg. That’s the second-steepest decline among 10 industry groups after energy companies, the data show.
Lenovo, Intel
Lenovo sank 26 percent to HK$1.91. The company said it expects to post a “material loss” in the quarter ended Dec. 31 and will eliminate about 2,500 jobs, leading to savings of about $300 million in the year ending March 2010.
The outlook from the maker of Thinkpad laptops underscores the challenge facing technology companies after Intel yesterday said fourth-quarter revenue dropped 23 percent and Dell Inc. replaced top executives to revive demand.
Infineon slid 5 percent to 1.13 euros. ASML Holding, Europe’s largest maker of semiconductor equipment, slipped 1.8 percent to 12.815 euros.
Hays Plc dropped 4.6 percent to 73 pence. Britain’s largest recruitment company said net fees fell 10 percent in the quarter ended Dec. 31 as companies stopped hiring full-time staff and the pace of layoffs increased.
In Asia, Cnooc lost 6.7 percent to HK$7.37 after crude sank the most in more than seven years yesterday, plunging 12 percent to $42.63 a barrel in New York on demand concern. Oil added 1.1 percent today.
Macquarie dropped 3.7 percent to A$32.50 as Australia’s biggest securities firm said a “challenging” market is hurting profitability and announced a A$1.5 billion ($1.07 billion) sale of margin loans to a regional lender.
GM Traders! ACTC closed green up over 38% OCBM volumes spiking for another break. Superb 09"! :)
SSB! GM King Lounger!!! What's on the agenda today?
MOrning GA!!!!!! Got more yard time with ACTC and OCBM yesterday!