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FREE 1:50 at open 6/26 Freeseas. serial
This is 5th one. Largest one, stats at very bottom here.
4:30pm ET
Athens, Greece, June 25, 2015 (GLOBE NEWSWIRE) -- June 25, 2015 --FreeSeas Inc. (FREE) ("FreeSeas" or the "Company"), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of Handysize vessel and an owner of a controlling stake in a company commercially operating tankers, announced today that the Company's Amended and Restated Articles of Incorporation are being amended to effect a reverse stock split of the Company's issued and outstanding common stock at a ratio of one new share for every 50 shares currently outstanding.
The Company anticipates that its common stock will begin trading on a split-adjusted basis when the market opens on June 26, 2015. FreeSeas' common stock will continue to trade under the symbol "FREE." The common shares will also trade under a new CUSIP number Y26496193.
The reverse stock split will consolidate 50 shares of common stock into one share of common stock at a par value of $.001 per share. The reverse stock split will not affect any shareholder's ownership percentage of FreeSeas' common shares, except to the limited extent that the reverse stock split would result in any shareholder owning a fractional share. Fractional shares of common stock will be rounded up to the nearest whole share.
After the reverse stock split takes effect, shareholders holding physical share certificates will receive instructions from American Stock Transfer and Trust Company LLC, the Company's exchange agent, regarding the process for exchanging their shares.
About FreeSeas Inc.
FreeSeas Inc. is a Marshall Islands corporation with principal offices in Athens, Greece. FreeSeas is engaged in the transportation of drybulk cargoes through the ownership and operation of drybulk carriers and also is an owner of a controlling stake in a company commercially operating tankers. Currently, it has a fleet of Handysize vessels. FreeSeas' common stock trades on the Nasdaq Capital Market under the symbol FREE. Risks and uncertainties are described in reports filed by FreeSeas Inc. with the SEC, which can be obtained free of charge on the SEC's website at http://www.sec.gov. For more information about FreeSeas Inc., please visit the corporate website, www.freeseas.gr.
FREE Security Details
Share Structure
Market Value1 Not Available
Authorized Shares Not Available
Outstanding Shares 23,621,646 a/o May 11, 2015
-Restricted Not Available
-Unrestricted Not Available
Held at DTC Not Available
Float Not Available
Par Value Not Available
Transfer Agent(s)
Shareholders
Shareholders of Record Not Available
Corporate Actions Ex. Date Record Date Pay Date
Dividends are not adjusted for stock splits
Security Notes
•Capital Change=shs decreased by 1 for 5 split Pay date=10/01/2010.
•Capital Change=shs decreased by 1 for 10 split Ex-date=02/14/2013.
•Capital Change=shs decreased by 1 for 5 split Ex-date=12/02/2013.
•Capital Change=shs decreased by 1 for 7.5 split. Ex-date=05/11/2015.
Baltic Dry Index 829 pts +4.9% Dec '14 high
08:21 News Bot: Baltic Dry Index at 829 points, up 4.9%, highest since Dec'14
Baltic Dry Index 829 pts +4.9% Dec' 14 high
08:21 News Bot: Baltic Dry Index at 829 points, up 4.9%, highest since Dec'14
CPST delist notice, Annual vote R/S 8/27
Form 8-K for CAPSTONE TURBINE CORP
19-Jun-2015 4:17 pm ET
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Stand
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On June 18, 2015, Capstone Turbine Corporation (the "Company") received approval from the Nasdaq Stock Market ("Nasdaq") to transfer the listing of the Company's common stock from the Nasdaq Global Market to the Nasdaq Capital Market. This transfer will be effective at the opening of business on Monday, June 22, 2015. The Company's common stock will continue to trade under the symbol "CPST." The Nasdaq Capital Market is a continuous trading market that operates in substantially the same manner as the Nasdaq Global Market and requires listed companies to meet certain financial requirements and comply with Nasdaq's corporate governance requirements.
As previously reported, the Company was notified by Nasdaq on December 19, 2014 that it no longer satisfied the minimum bid price requirement of $1.00 per share for continued listing as set forth in Nasdaq Listing Rule 5450(a)(1). In anticipation of not meeting the minimum bid price requirement by June 17, 2015, the end of its initial 180-day grace period, the Company had previously applied to transfer the listing of its stock to the Nasdaq Capital Market. Upon transfer to the Nasdaq Capital Market, the Company is being afforded an additional 180-day grace period to regain compliance with Nasdaq's minimum bid price requirement. In order to regain compliance, the minimum bid price per share of the Company's common stock must be at least $1.00 for at least ten consecutive business days during the second 180-day grace period, which will end on December 14, 2015. If the Company fails to regain compliance during this grace period, the Company's common stock will be subject to delisting by Nasdaq. The Company has provided written notice of its intention to cure the minimum bid price deficiency during the second grace period by effecting a reverse stock split if necessary. The Company intends to request stockholder approval of a reverse stock split at the Company's annual meeting of stockholders, to be held on August 27, 2015
CPST Capastone Turbine delist notice
Form 8-K for CAPSTONE TURBINE CORP
19-Jun-2015 4:17 pm ET
Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Stand
Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On June 18, 2015, Capstone Turbine Corporation (the "Company") received approval from the Nasdaq Stock Market ("Nasdaq") to transfer the listing of the Company's common stock from the Nasdaq Global Market to the Nasdaq Capital Market. This transfer will be effective at the opening of business on Monday, June 22, 2015. The Company's common stock will continue to trade under the symbol "CPST." The Nasdaq Capital Market is a continuous trading market that operates in substantially the same manner as the Nasdaq Global Market and requires listed companies to meet certain financial requirements and comply with Nasdaq's corporate governance requirements.
As previously reported, the Company was notified by Nasdaq on December 19, 2014 that it no longer satisfied the minimum bid price requirement of $1.00 per share for continued listing as set forth in Nasdaq Listing Rule 5450(a)(1). In anticipation of not meeting the minimum bid price requirement by June 17, 2015, the end of its initial 180-day grace period, the Company had previously applied to transfer the listing of its stock to the Nasdaq Capital Market. Upon transfer to the Nasdaq Capital Market, the Company is being afforded an additional 180-day grace period to regain compliance with Nasdaq's minimum bid price requirement. In order to regain compliance, the minimum bid price per share of the Company's common stock must be at least $1.00 for at least ten consecutive business days during the second 180-day grace period, which will end on December 14, 2015. If the Company fails to regain compliance during this grace period, the Company's common stock will be subject to delisting by Nasdaq. The Company has provided written notice of its intention to cure the minimum bid price deficiency during the second grace period by effecting a reverse stock split if necessary. The Company intends to request stockholder approval of a reverse stock split at the Company's annual meeting of stockholders, to be held on August 27, 2015
New Rules Let Companies Sell Stakes to Investors of Modest Means
By STACY COWLEY JUNE 18, 2015 NY Times
Stacy Jackman, left, and Amir Combs, right, produce content for StarShop, a new celebrity-curated shopping app based in Times Square. The company plans to utilize Regulation A+, a new mini-IPO option that takes effect June 19. Credit Kirsten Luce for The New York Times
Growing companies seeking to raise up to $50 million have a new financing option, starting Friday: a process that will open some private businesses to a wide pool of new investors.
More than three years in the making, the regulatory change, an expanded version of a rule known as Regulation A, is intended to let promising companies — the kinds typically backed by venture capitalists and wealthy angel investors — raise money by selling equity stakes to people of more modest means.
Businesses will be able to advertise their offerings — described as “mini I.P.O.s” by many in the industry — on websites and through social media, giving fans and customers an opportunity to buy shares in companies that are not yet, and may never be, publicly traded.
Andrew Gierczak, left, and Henry Schwartz, two of the founders of MobCraft, a brewery based in Madison, Wis., took advantage of a new state law to raise $67,000 from 52 state residents.
Tired of Waiting for U.S. to Act, States Pass Crowdfunding Laws and Rules JUNE 3, 2015
The new rules are complex and controversial. Advocates see the change as an egalitarian move that will let people invest in brands they love and take a shot at finding new companies like Facebook, whose earliest investors made far more than those who bought shares after it went public. Critics, however, say that complying with the rules of the new fund-raising process is so costly and complicated that few high-quality companies will bother to use it.
That has certainly been the case for the system the new rule is replacing.
Any company that wishes to sell securities to investors must either register with the Securities and Exchange Commission and file regular financial reports or find a legal exemption. The most commonly used one, called Regulation D, allows companies to sell shares mainly to accredited investors with an annual income of more than $200,000 or a net worth of at least $1 million.
The law assumes that accredited investors are wealthy enough to take significant investment risks. But when it comes to average investors, regulators want more safeguards in place. An earlier version of the Regulation A rule allowed companies to raise up to $5 million from nonaccredited investors — but it required those companies to first file an extensive, financially detailed offering document, subject to review by the S.E.C. and regulators in every state in which securities would be sold.
More than 22,000 companies used Regulation D last year to raise money from investors. Only seven jumped through all the hoops to use Regulation A.
“I’ve been practicing for 22 years, and I’ve never done a Regulation A deal because of all the cost, complexity and brain damage that goes along with it,” said Roger Hauptman, a Denver lawyer who specializes in corporate financing. “I think 99 percent of lawyers would say that you should avoid taking money from unaccredited investors at all costs, unless it’s absolutely necessary.”
But some entrepreneurs say they do consider it necessary, for either financial or philosophical reasons.
“We have companies that are eager to do this because they have passionate customers they want to invite in on the deal,” said Ryan Feit, the chief executive of SeedInvest, an investment platform that had previously been open to only accredited investors. Mr. Feit is working with several companies, including Virtuix, a virtual reality hardware maker, and DietBet, a weight-loss business, that are considering using the new rules to raise money.
The new Regulation A rule has a number of revisions intended to fix some of the earlier version’s drawbacks, but the most significant change lifts the cap on how much money companies can raise, to $50 million from $5 million. (Companies that raise more than $20 million face more stringent reporting requirements than those seeking smaller amounts.)
That higher cap is attracting entrepreneurs who say they are eager to test-drive the new rules. Kevin Harrington, the founder of a mobile-focused shopping site called StarShop, plans to file paperwork on Friday for an offering.
Mr. Harrington is a serial entrepreneur who made a fortune as an infomercial pioneer and gained fame by appearing as an investor in the first two seasons of “Shark Tank,” in which entrepreneurs compete for financial backing. StarShop, based in New York, opened for business just weeks ago, but he is already envisioning its long-term future: “This is a business that will require tens of millions of dollars in funding if we’re going to build a billion-dollar company,” he said.
He could try to raise that money the traditional way, from venture capitalists and large investors — Sprint already owns a minority stake in the business — but Mr. Harrington is a populist who likes the idea of having a broad network of investors.
“When I did segments on ‘Shark Tank,’ I would get texts from people saying, ‘Why didn’t you invest in that company!? You should have done that deal!’” he said. “Everybody wants to be a shark. If we have a huge base of small owners, they become very vocal about their involvement in StarShop, and they can spread the word.”
Regulation A deals will not be fast, or cheap. Kendall Almerico, the lawyer preparing StarShop’s paperwork, says a typical company will need to spend $50,000 to $100,000 on legal, accounting and filing fees. Every offering must be reviewed by and gain approval from the S.E.C., a process that takes more than 300 days, on average.
Those hurdles could discourage the most attractive investment candidates, the kinds of high-growth companies that rich individuals and venture capitalists compete with one another to fund. Rory Eakin, a co-founder of CircleUp, which connects consumer brands seeking financing with potential investors, says none of the entrepreneurs he works with want to deal with the headaches and restrictions. He worries about adverse selection, with Regulation A becoming a fallback used only by companies passed over by experienced investors.
But some entrepreneurs say average investors are a better fit for their business than big financiers seeking outsize returns. Phil Paisley is the president of Interbill, a 43-year-old company in Rohnert Park, Calif., that makes billing software for lawyers. The company — “a small business hoping to be large,” in Mr. Paisley’s words — has sales of $1.5 million a year and is operationally profitable, he says. He would like to expand nationwide and is preparing a Regulation A offering to raise up to $15 million.
Living on the outskirts of the Bay Area, Mr. Paisley is surrounded by venture firms and private investors, but they are not interested in slow-growth, midtier businesses like his.
“They want Googles and Groupons,” he said. “Some of these angel investors have been very spoiled in being able to invest in something that can go from zero to $1 billion in just a few years. That’s not this business. Our average client is with us for 17 years.”
Mr. Paisley plans to market his offering with a direct-mail campaign to thousands of lawyers and paralegals, the kinds of potential investors he thinks will understand his business and its prospects.
Like Mr. Harrington, he is hoping to find a few patient, enthusiastic sharks.
Wealthtrack looks good this time
Cramer & CNBC mentioning HSY & the China impact.
----------------
----------------Check link below for some embedded links too.
http://us1.campaign-archive2.com/?u=5145643fcb0200e3638425ab1&id=e21516dd52&e=248c962d82
June 19, 2015
Dear WEALTHTRACK Subscriber,
Midyear outlooks are starting to trickle out of investment firms. Global investment firm T. Rowe Price just released its midyear market review and strategy which provides an interesting overview of global markets. You can read the full report here.
One recurring theme on WEALTHTRACK over the years has been how individual and institutional investors’ sabotage themselves over time. One way they do it is by chasing hot performance, buying high, and abandoning investments during market declines, selling low.
The other major way investors hurt themselves over time is by not paying sufficient attention to investment costs. Expenses matter. As one of this week’s guests, famed Financial Thought Leader Burton Malkiel tells us: “One thing I am absolutely sure about is the lower the fee… the more there’s going to be for me as the investor.”
Luckily there are products available to help us avoid both mistakes, and more are being created every day. One of them, index funds, are already a huge hit with investors and their popularity is growing by leaps and bounds.
According to Morningstar, low-cost, index based mutual funds and ETFs now have 31% of all fund assets up from just 14% a decade ago.
The other development designed to counteract destructive investor behavior is in its early stages. It is automatic investing. We have seen it in target date funds. Some advisors use software that does it in portfolios. And we are now seeing the next generation, with so called “robo-advisors”. Barron’s recently did a cover story on it called “The New Face of Financial Advice” and highlighted four robo portfolio services: Betterment launched in 2010, Wealthfront launched in 2011, and two recent entries, Charles Schwab Intelligent Portfolios and a hybrid, Vanguard Personal Advisor Services, which requires the involvement of a human financial advisor to provide what Vanguard calls “behavioral coaching," to prevent clients from making those bad market timing decisions.
This week on WEALTHTRACK we are highlighting another service that combines low cost investing, automatic rebalancing and the human touch. It’s called Rebalance IRA and there are two major reasons I am focusing on it. It has two legendary financial thought leaders on its investment committee, with impeccable credentials, whom I have had the privilege of interviewing over the years. They both help develop, oversee and set policies for the portfolios offered to Rebalance IRA clients.
One of them, Charles Ellis has been a highly respected investment consultant to pensions, endowments and governments for decades. He is the author of numerous investment books including the classic “Winning the Losers Game” and “The Elements of Investing”, co-authored with his good friend and fellow financial legend, Burton Malkiel.
Professor Malkiel is also on the investment committee and is one of our guests this week. Malkiel is an emeritus Princeton university economics professor and author of the classic, “A Random Walk Down Wall Street,” now in its 11th edition.
We’ll also be joined by Mitch Tuchman, Managing Director and Co-Founder of Rebalance IRA, which he launched in 2013. Rebalance IRA is a low-cost, investment advisory service for accounts of $100,000 on up. As its name indicates, it is specifically for retirement accounts and it automatically rebalances their portfolios. It currently has nearly $300 million under management.
Before that Tuchman founded MarketRiders, the first online investment advisory service for do-it-yourselfers. It now oversees about $4 billion in accounts.
For many years, Tuchman has also been a technology entrepreneur and consultant to numerous Silicon Valley companies.
Malkiel and Tuchman will explain why they have teamed up to offer retirement portfolios of low-cost index funds with automatic rebalancing.
If you miss the show on public television this week, you can always watch it on our website. We also have an EXTRA interview with Tuchman available exclusively online. As always, we welcome your feedback on everything we do.
Have a great weekend and make the week ahead a profitable and productive one.
Best Regards,
Consuelo
Management too re HSY GAP BDI 779 +.8%
Well sometimes the people up top bite too many of the apples.
Saw those Gap top execs stories about partying and gamesmanship following the store closing and job cuts.
McDonalds to close more stores than opening.
Might be something deeper going on. Like a Select Great Depression that is/will impact just certain sectors of society instead of the mass hit of First Great Depression.
Eye on Greece now. Luxembourg guy saying no bail out for them?
Earlier was:
8:13 am ET
Greek Finance Minister Varoufakis Says No Discussion of Greek Proposal In Eurogroup Meeting on Thursday; Says Leaders Have Duty To Come Up With Redemptive Agreement -Reuters
08:40 News Bot: Twitter reports citing ECB sources, say that there is currently no problem with Greek bank funding and that they remain optimisitc about Monday's meeting
08:40 News Bot: Baltic Dry at 779 points, up 0.8%
HSY to Cut 300 Jobs; Cuts Sales Forecast Again
You know even during First Great Depression Hershey didn't cut jobs. Just sayin'.
Hershey Co. said Friday that it would cut about 300 jobs as part of a plan to simplify its business and it lowered its sales and earnings forecasts for the year as it continues to struggle with weak sales in China .
Shares of Hershey, down 7.5% over the past 12 months, fell another 2.4% to $90.02 in premarket trading.
Hershey said it expects to save $65 million to $75 million , mostly in 2016, as a result of the streamlining. But the company said it would take charges of $100 million to $120 million , or 29 cents to 35 cents a share, related to the job cuts.
"Removing cost and complexity from our business will make us more flexible to quickly react to changing consumer and competitive marketplace trends," said Chief Executive John P. Bilbrey in a news release.
Hershey also on Friday cut its sales-growth forecast for the year to 2.5% to 3.5%, down from its previous forecast for 4.5% to 5.5% growth. The forecast includes a 1.5 percentage point benefit from acquisitions and divestitures and a 1.5 percentage point hit from foreign exchange.
Excluding the impact of currency, sales are expected to increase about 4% to 5%, down from a previous forecast of 6% to 7% growth.
Hershey said its sales were hurt by lower-than-expected chocolate-sales growth in China in April and May. The company had cut its sales forecast in April, as foreign-currency impacts and softness in China weighed on results in its first quarter.
The company also slashed its adjusted-earnings forecast to $4.10 a share to $4.18 a share, down from its previous forecast of $4.30 a share to $4.38 a share.
The maker of America's top-selling chocolate brand, Reese's, as well as its namesake candy bar, has been struggling with sluggish sales in certain U.S. stores and international markets, on top of rising costs for ingredients such as dairy and cocoa.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
Access Investor Kit for The Hershey Co.
Visit http://www.companyspotlight.com/partner?cp_code=P479?=US4278661081
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(END) Dow Jones Newswires
06-19-15 0802ET
Copyright (c) 2015 Dow Jones & Company, Inc.
FREE 1:2 to 1:50 R/S Annual Meeting
These guys will be in serial range now. Will be 5th after 5/11/2015 1:7.5 23.6M O/S now. Prior 4 small sizes too.
June 18, 2015 16:30 ET | Source: FreeSeas Inc. Athens, Greece, June 18, 2015 (GLOBE NEWSWIRE) -- June 18, 2015 - FreeSeas Inc. (Nasdaq: FREE) ("FreeSeas" or the "Company" ), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of Handysize vessels and an owner of a controlling stake in a company commercially operating tankers, announced today that at the annual meeting of the Company's shareholders held on June 12, 2015, the shareholders: (i) re-elected Mr. Xenophon Galinas to the Board of Directors for another three year term; (ii) ratified the appointment of RBSM LLP, as our independent registered public accounting firm for the fiscal year ending December 31, 2015; and (iii) granted discretionary authority to the Company's board of directors to (A) amend the Amended and Restated Articles of Incorporation of the Company to effect one or more consolidations of the issued and outstanding shares of common stock, pursuant to which the shares of common stock would be combined and reclassified into one share of common stock at a ratio within the range from 1-for-2 up to 1-for-50 (the "Reverse Stock Split") and (B) determine whether to arrange for the disposition of fractional interests by shareholder entitled thereto, to pay in cash the fair value of fractions of a share of common stock as of the time when those entitled to receive such fractions are determined, or to entitle shareholder to receive from the Company's transfer agent, in lieu of any fractional share, the number of shares of common stock rounded up to the next whole number, provided that, (X) that the Company shall not effect Reverse Stock Splits that, in the aggregate, exceeds 1-for-50, and (Y) any Reverse Stock Split is completed no later than the first anniversary of the date of the Annual Meeting. - See more at: http://globenewswire.com/news-release/2015/06/18/745794/10139011/en/FreeSeas-Inc-Announces-Results-of-Annual-Meeting-of-Shareholders.html#sthash.kvRHYFvF.dpuf
FREE 1:2 to 1:50 R/S Annual Meeting
These guys will be in serial range now. Will be 5th after 5/11/2015 1:7.5 23.6M O/S now. Prior 4 small sizes too.
June 18, 2015 16:30 ET | Source: FreeSeas Inc. Athens, Greece, June 18, 2015 (GLOBE NEWSWIRE) -- June 18, 2015 - FreeSeas Inc. (Nasdaq: FREE) ("FreeSeas" or the "Company" ), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of Handysize vessels and an owner of a controlling stake in a company commercially operating tankers, announced today that at the annual meeting of the Company's shareholders held on June 12, 2015, the shareholders: (i) re-elected Mr. Xenophon Galinas to the Board of Directors for another three year term; (ii) ratified the appointment of RBSM LLP, as our independent registered public accounting firm for the fiscal year ending December 31, 2015; and (iii) granted discretionary authority to the Company's board of directors to (A) amend the Amended and Restated Articles of Incorporation of the Company to effect one or more consolidations of the issued and outstanding shares of common stock, pursuant to which the shares of common stock would be combined and reclassified into one share of common stock at a ratio within the range from 1-for-2 up to 1-for-50 (the "Reverse Stock Split") and (B) determine whether to arrange for the disposition of fractional interests by shareholder entitled thereto, to pay in cash the fair value of fractions of a share of common stock as of the time when those entitled to receive such fractions are determined, or to entitle shareholder to receive from the Company's transfer agent, in lieu of any fractional share, the number of shares of common stock rounded up to the next whole number, provided that, (X) that the Company shall not effect Reverse Stock Splits that, in the aggregate, exceeds 1-for-50, and (Y) any Reverse Stock Split is completed no later than the first anniversary of the date of the Annual Meeting. - See more at: http://globenewswire.com/news-release/2015/06/18/745794/10139011/en/FreeSeas-Inc-Announces-Results-of-Annual-Meeting-of-Shareholders.html#sthash.kvRHYFvF.dpuf
DRYS SA longish piece & oil tankers in general
http://seekingalpha.com/article/3264665-dryships-a-swot-analysis-in-7-charts
DryShips - A SWOT Analysis In 7 Charts
Jun. 17, 2015 9:18 AM ET DryShips Inc. (DRYS)
Thailand Confirms first MERS Infection
By Warangkana Chomchuen and Nopparat Chaichalearmmongkol
BANGKOK -- Thailand on Thursday announced its first case of Middle East respiratory syndrome after discovering the deadly virus in a man visiting from Oman .
The Thai Public Health Ministry said in a news briefing Thursday that the 75-year-old man, who arrived from the Middle East on Monday, was diagnosed with the virus after going to a local hospital to seek treatment for his heart conditions and asthma.
Oman is in the southeastern coast of the Arabian Peninsula and adjacent to Saudi Arabia , where the virus was first discovered in 2012.
It is believed to be the first infection in Southeast Asia so far this year, following a death in Malaysia and an infection in the Philippines in 2014. South Korea is reeling from an outbreak that has killed 27 people and infected 165 others since it was first reported five weeks ago.
Dr. Rajata Rajatanavin, Thailand's health minister, said the man is in stable condition. Dr. Rajata said the man is being quarantined along with three family members who arrived with him at the hospital. Two taxi drivers and dozens of medical staff and personnel the man came in contact with have also been quarantined, the minister added.
Passengers seated two rows in front and behind the unnamed man have been contacted by health officials, Dr. Rajata said.
The ministry didn't disclose what airline the man flew in on.
MERS belongs to the same family of viruses as the common cold and Severe acute respiratory syndrome, or SARS, and kills more than one-third of the people it infects, largely through respiratory infections. Symptoms include fever, cough and shortness of breath. No vaccine exists.
Thailand's acting permanent public health secretary, Dr. Surachet Sathitiniramai, said Tuesday that airport staff are watching for potential sufferers exhibiting symptoms in addition to those who traveled from the Middle East . Anyone suspected of infection will be placed under observation in hospitals or clinics, he said.
The country's Diseases Control Department will also prepare an advisory for the more than 10,000 Thai Muslims who are expected to make the hajj pilgrimage to Saudi Arabia this year, Dr. Surachet added.
In South Korea , where the outbreak is the largest outside Saudi Arabia , more than 6,700 people have been in quarantine at various hospitals or isolated at home, including hundreds of staff from Samsung Medical Center in Seoul .
Wilawan Watcharasakwet contributed to this article
Write to Warangkana Chomchuen at warangkana.chomchuen@wsj.com and Nopparat Chaichalearmmongkol at nopparat.chaichalearmmongkol@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
06-18-15 0842ET
Copyright (c) 2015 Dow Jones & Company, Inc.
Thailand Confirms first MERS Infection
By Warangkana Chomchuen and Nopparat Chaichalearmmongkol
BANGKOK -- Thailand on Thursday announced its first case of Middle East respiratory syndrome after discovering the deadly virus in a man visiting from Oman .
The Thai Public Health Ministry said in a news briefing Thursday that the 75-year-old man, who arrived from the Middle East on Monday, was diagnosed with the virus after going to a local hospital to seek treatment for his heart conditions and asthma.
Oman is in the southeastern coast of the Arabian Peninsula and adjacent to Saudi Arabia , where the virus was first discovered in 2012.
It is believed to be the first infection in Southeast Asia so far this year, following a death in Malaysia and an infection in the Philippines in 2014. South Korea is reeling from an outbreak that has killed 27 people and infected 165 others since it was first reported five weeks ago.
Dr. Rajata Rajatanavin, Thailand's health minister, said the man is in stable condition. Dr. Rajata said the man is being quarantined along with three family members who arrived with him at the hospital. Two taxi drivers and dozens of medical staff and personnel the man came in contact with have also been quarantined, the minister added.
Passengers seated two rows in front and behind the unnamed man have been contacted by health officials, Dr. Rajata said.
The ministry didn't disclose what airline the man flew in on.
MERS belongs to the same family of viruses as the common cold and Severe acute respiratory syndrome, or SARS, and kills more than one-third of the people it infects, largely through respiratory infections. Symptoms include fever, cough and shortness of breath. No vaccine exists.
Thailand's acting permanent public health secretary, Dr. Surachet Sathitiniramai, said Tuesday that airport staff are watching for potential sufferers exhibiting symptoms in addition to those who traveled from the Middle East . Anyone suspected of infection will be placed under observation in hospitals or clinics, he said.
The country's Diseases Control Department will also prepare an advisory for the more than 10,000 Thai Muslims who are expected to make the hajj pilgrimage to Saudi Arabia this year, Dr. Surachet added.
In South Korea , where the outbreak is the largest outside Saudi Arabia , more than 6,700 people have been in quarantine at various hospitals or isolated at home, including hundreds of staff from Samsung Medical Center in Seoul .
Wilawan Watcharasakwet contributed to this article
Write to Warangkana Chomchuen at warangkana.chomchuen@wsj.com and Nopparat Chaichalearmmongkol at nopparat.chaichalearmmongkol@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
06-18-15 0842ET
Copyright (c) 2015 Dow Jones & Company, Inc.
Baltic Dry to 773 points, +6.6% em
Chinese buyers replace Canadians as top foreign buyers of U.S. homes
more in wsj.com paywall
By Laura Kusisto Published: June 17, 2015 11:40 pm ET
Chinese buyers have surpassed Canadian snowbirds as the dominant foreign buyers of homes in the U.S., according to the National Association of Realtors.
Purchasers from China made up 16% of international buyers who bought primarily single-family homes and condominiums in the 12-month period that ended in March, according to the survey by the National Association of Realtors. That was up from 12% in 2013. Canadians made up 14% of international buyers, down sharply from 23% in the 2013 survey. In third place were Indians, who made up 8% of foreign buyers in the recent period, up slightly from 2013.
For many years, Canadians seeking warmer weather—mainly in the American Sunbelt—were the biggest foreign buyers of U.S. homes, which were often purchased as vacation or retirement properties. But Canadian sales have declined recently, in part due to the weak Canadian currency, which raises the cost of dollar-denominated products. Meanwhile, Chinese purchases have picked up.
S. Korea 3 more MERS deaths, total 23
8:02pm ET DJ
S.KOREA REPORTS 3 MORE DEATHS IN MIDDLE EAST RESPIRATORY SYNDROME OUTBREAK, BRINGING TOTAL TO 23, 3 NEW CASES
icon thanks! NURO dips suddenly 0.87 0.90
Cheapie med devicer. Not seeing any news since 6/15 on wearable.
8% pop on that. Mixed fundas, 28M OS. Moved back up off LoD.
Not best of things but who knows in this sector.
LIVE also soft day. RCPI took chin block <$2 on DO financing
not long after a R/S that left @8M til DO. Worse fundas than NURO.
And go figure on JOEZ doing a FREE move, lol
Top 4 shipping stks NYSE Nasdaq
4am ET
Below are the top shipping stocks on the NYSE and the NASDAQ in terms of revenue.
The trailing-twelve-month revenue at Kirby Corporation
KEX 0.69%
is $2.56 billion. Kirby's PEG ratio is 2.84.
The trailing-twelve-month revenue at DryShips Inc.
DRYS 1.65%
is $2.22 billion. DryShips' ROE for the same period is 1.24 percent.
The trailing-twelve-month revenue at Teekay Corporation
TK 0.36%
is $2.03 billion. Teekay's operating margin for the same period is 23.46 percent.
The trailing-twelve-month revenue at Matson Inc
MATX 0.75%
is $1.72 billion. Matson's ROA for the same period is 7.45 percent.
Read more: http://www.benzinga.com/trading-ideas/15/06/5600863/top-4-stocks-in-the-shipping-industry-with-the-highest-revenue#ixzz3dKjtDIGL
Baltic Dry at 725 points, up 6.5%
Do we get global go go time yet? That's goodly size BDI move.
Small wonder the TVIX doing 1:10 R/S on 6/23
08:30 Canadian Wholesale Trade Sales (Apr) M/M 1.9% vs. Exp. 0.3% (Prev. 0.8%)
Baltic Dry at 725 points, up 6.5%
hmm Global picture acting decent. BDI rarely moves so much.
Small wonder the TVIX doing 1:10 R/S on 6/23.
08:30 Canadian Wholesale Trade Sales (Apr) M/M 1.9% vs. Exp. 0.3% (Prev. 0.8%)
Hard to tell, not yet is guess.
Think will take spreading to more regions than S. Korea or runs bigger there.
TVIX 1:10 R/S effective 6/23 2X VIX ETN
8:15 pm
http://www.sys-con.com/node/3344401
Credit Suisse AG Announces the Reverse Split of its TVIX ETN
SYS-CON Media (press release)
The closing indicative value of TVIX on June 22, 2015 will be multiplied by ten to determine its reverse split-adjusted closing indicative value.
NEW YORK, June 16, 2015 /PRNewswire/ -- Credit Suisse AG announced today that it will implement a 1-for-10 reverse split of its VelocityShares™ Daily 2x VIX Short Term ETN ("TVIX"), expected to be effective as of June 23, 2015.
On June 25, 2015, holders of record will receive one reverse split-adjusted ETN for every ten units of TVIX. In addition, such holders of record that hold a number of units of ETNs not evenly divisible by ten will receive a cash payment for any fractional number of units remaining of TVIX (the "partials"). The cash amount due on any partials will be determined on June 30, 2015, based on the closing indicative value of TVIX on such date and will be paid by Credit Suisse AG on July 1, 2015.
Credit Suisse logo.
The closing indicative value of TVIX on June 22, 2015 will be multiplied by ten to determine its reverse split-adjusted closing indicative value. The reverse split will be effective at the open of trading on June 23, 2015 and TVIX will begin trading on the NASDAQ Stock Market on a reverse split-adjusted basis on such date. Following the reverse split, TVIX will have a new CUSIP but will retain the same ticker symbol.
The reverse split will affect the trading denominations of TVIX but it will not have any effect on the principal amount of the underlying notes, except that the principal amount will be reduced by the aggregate amount of any cash payments for "partials."
TVIX 1:10 R/S effective 6/23 2X VIX ETN
8:15 pm
http://www.sys-con.com/node/3344401
Credit Suisse AG Announces the Reverse Split of its TVIX ETN
SYS-CON Media (press release)
The closing indicative value of TVIX on June 22, 2015 will be multiplied by ten to determine its reverse split-adjusted closing indicative value.
NEW YORK, June 16, 2015 /PRNewswire/ -- Credit Suisse AG announced today that it will implement a 1-for-10 reverse split of its VelocityShares™ Daily 2x VIX Short Term ETN ("TVIX"), expected to be effective as of June 23, 2015.
On June 25, 2015, holders of record will receive one reverse split-adjusted ETN for every ten units of TVIX. In addition, such holders of record that hold a number of units of ETNs not evenly divisible by ten will receive a cash payment for any fractional number of units remaining of TVIX (the "partials"). The cash amount due on any partials will be determined on June 30, 2015, based on the closing indicative value of TVIX on such date and will be paid by Credit Suisse AG on July 1, 2015.
Credit Suisse logo.
The closing indicative value of TVIX on June 22, 2015 will be multiplied by ten to determine its reverse split-adjusted closing indicative value. The reverse split will be effective at the open of trading on June 23, 2015 and TVIX will begin trading on the NASDAQ Stock Market on a reverse split-adjusted basis on such date. Following the reverse split, TVIX will have a new CUSIP but will retain the same ticker symbol.
The reverse split will affect the trading denominations of TVIX but it will not have any effect on the principal amount of the underlying notes, except that the principal amount will be reduced by the aggregate amount of any cash payments for "partials."
bummer ANTH up bit AH too.
Decent close 9.33 +0.69 +8% after wobbly pm. The AH high hit 9.78
to end @ 9.60 The pre open should tell if 10 is on target.
Darn thing caught me by surprise too. Figured maybe a pre pop then go during day.
I do remember during best days of 1990s the midday movers set the pace by continuing action from then on. So let this be a test case for that strength signal. Back then it came with the West Coast money buying in after ET lunch. But during the post dot.bomb bust the European money set the tone. Perhaps things are changing.
We need some of that 'everybody in the pool' mentality to juice this party before it might unwravel from lack of interest. The weak overall volume is a sign of that boredom or fear of loss being the winning hand for the sideliners.
Better days.
LastPass hacked & ANTH
Used seem freaked about how messed up their saved passwords became for some 5% of users when changed master password.
Others ticked off that only Twitter posts altered them, not LP.
LastPass hacked, but CEO Joe Siegrist urges calm
Computerworld | Jun 15, 2015 3:07 PM PT
http://www.computerworld.com/article/2936144/cloud-computing/lastpass-hacked-itbwcw.html?phint=newt%3Dcomputerworld_dailynews&phint=idg_eid%3D0bd59457f0d8c14e6ac5df604e2b7edd#tk.CTWNLE_nlt_dailyam_2015-06-16&siteid=&phint=tpcs%3D&phint=idg_eid%3D0bd59457f0d8c14e6ac5df604e2b7edd
ANTH moved 9.53 +.85 +9.7% began @1:30p et
Both those sites are helpful home pages
Neither seems to have an email or symbol tracker alert system.
But wallstreetscope on home page has a second nice feature called Investor Investigations.
Now most lawsuits end up as a load of bull, but sometimes it sticks. Always good to know if a symbol is facing any of this nonsense and how important it is.
Also on side is Most Viewed Today which now has the FREE link as top one. Gives a viewed count too.
Scrolling down the listed categories are several other breakouts of sectors like Science, Pharma & Healthcare.
Investor filed Lawsuit against Vipshop Holdings Ltd – ADR (NYSE:VIPS) over alleged Misleading Statements
Jun 16, 2015 9:30 am EDT
An investor in shares of Vipshop Holdings Ltd – ADR (NYSE:VIPS) filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws...
FREE at wsobserver 11:33am et
Also these guys on it. Only thing no one mentions is the Greek situation. Just a guess but maybe the Greek owners of most shippers have some inside track that country is kicking can for next 6 months so less reason to consider up & moving elsewhere.
http://www.wsobserver.com/why-making-dramatic-moves-freeseas-inc-nasdaqfree-peabody-energy-corporation-nysebtu-himax-technologies-inc-adr-nasdaqhimx/7219153/
Why Making Dramatic Moves? – FreeSeas Inc (NASDAQ:FREE), Peabody Energy Corporation (NYSE:BTU), Himax Technologies, Inc. (ADR) (NASDAQ:HIMX)
By Leslie Settles • June 16, 2015
FreeSeas Inc (NASDAQ:FREE) more than doubled with no clear reason to point for the activity.
The company recently acquired a 51% controlling stake in the newly formed Standcorp International Limited. The rest of the shares are owned by non-affiliated entities associated with the Marvin group of companies, whose extensive experience for over twenty years has focused in the operation and ownership of tanker vessels. Standcorp will engage in the commercial operation of product and crude oil tankers covering a large array of sizes, by contracting them through time charter or bareboat charter arrangements, and subsequently deploying them in the spot market or in fulfillment of contract cargoes. The company intends to operate in generic markets but also to focus on a number of niche markets, such as West Africa. In addition, the company shall, depending on market conditions, commercially operate dry-bulk carriers either chartered-in, acquired, or through services agreements with affiliated Owners, including FreeSeas Inc. tonnage.
Peabody Energy Corporation (NYSE:BTU) extended fall after reports the company is facing the possibility of paying more for insurance that covers environmental damages.
The Wyoming Department of Environmental Quality’s Land Quality Division is looking over financial data from 2014 from Peabody and fellow coal company Arch Coal (ACI) in order to determine if they still qualify for a “self-bonding” program. This program allows producers of coal to inexpensively insure their clean-up costs in case of a bankruptcy.
Miners that cannot meet specific financial benchmarks have to buy instruments including corporate surety bonds and treasury bills, or the must hang onto enough cash to cover reclamation liabilities, Bloomberg said.
Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) was on the rise after declaring that its cutting edge 0.22? “Front-Lit(TM) LCoS module”, a Liquid Crystal on Silicon (LCoS) microdisplay product, has won the 2015 Taiwan Outstanding Photonics Product Award from the Photonics Industry and Technology Development Association. Himax’s proprietary Front-Lit(TM) LCoS module marks a major technological breakthrough for the industry’s development of microdisplay which is critical for the emerging head-mounted device market.
FREE also had 4am mention
http://www.wallstreetscope.com/todays-pre-market-information-freeseas-inc-free-royal-bancshares-of-pennsylvania-inc-rbpaa-petroquest-energy-inc-pq-digital-power-corp-dpw-boot-barn-holdings-inc-boot/25317025/
Don't know this site but the other 4 mentioned have had some action lately too. Doesn't appear to be typical site in that there's no screaming hype and a wide mix of prices covered.
BOOT is $30 area.
06/16/2015 04:15 Today's Pre-Market Information: FreeSeas Inc. (FREE), Royal Bancshares of ...
WallStreet Scope – Tues June 16th: saw this w/ 4:15am ET timestamp.
FreeSeas Inc. (FREE) of the Services sector finished above average on Mon with a weekly performance of 34.62% ending the day at $0.07, gaining 42.86%. Wallstreet traded at a volume of 5,702,899 shares and relative volume of 3.11. FreeSeas Inc. (FREE) is at a quarterly performance of -86.67% and is selling from their 52 week low by 55.56% with an overall debt to equity ratio of 1.05. FreeSeas Inc. (FREE)’s monthly performance is -45.61% with 46.94 million shares outstanding. FreeSeas Inc. (FREE) is a good stock in the Shipping industry and EPS growth this year of 100.00%
Royal Bancshares of Pennsylvania Inc. (RBPAA) of the Regional – Northeast Banks sector closed out the day Monday at $1.85, a gain of 1.09% with a return on investment of 22.40% trading at a volume of 1,441 shares. Royal Bancshares of Pennsylvania Inc. (RBPAA) is performing below average with a weekly performance of -1.07% moving into this week with a quarterly performance of 7.56% and a 52 week low of 42.31%. Royal Bancshares of Pennsylvania Inc. (RBPAA)’s monthly performance sits at 2.78%, profit margin 11.40%, -0.36% insider transactions. Royal Bancshares of Pennsylvania Inc. (RBPAA) is a good stock in the Regional – Northeast Banks industry
UPDATED: Today's Top 50 Trending Stocks
PetroQuest Energy Inc. (PQ) ended the day Monday at $2.02, a loss of -4.27%, after trading at a volume of 1,082,851 shares and market cap of 132.98. PetroQuest Energy Inc. (PQ) is performing below average at a weekly performance of -12.93% and a quarterly performance of -1.46% off their 52 week low by 18.82%. PetroQuest Energy Inc. (PQ)’s monthly performance is 0.50%, profit margin -48.90%, -0.29% insider transactions and for the upcoming day, PetroQuest Energy Inc. (PQ) is a good stock in the Independent Oil & Gas industry with an averaged analyst rating of 2.3 and EPS growth this year of 178.60%
Digital Power Corp. (DPW) of the Technology sector closed Mon at $0.84 with a loss of 0.00%, trading at a volume of 6,703 shares. Digital Power Corp. (DPW) is performing below average with a weekly performance of -1.18% moving this week with a quarterly performance of -14.29% performing off their 52 week low by 5.00%. Digital Power Corp. (DPW)’s monthly performance is -6.67% , profit margin -9.00%, -5.56% insider transactions and, Digital Power Corp. (DPW) is a good stock in the Diversified Electronics industry and EPS growth this year of -11.10%
Boot Barn Holdings, Inc. (BOOT) closed at $30.36 Monday, a gain of 5.02%, trading at a volume of 601,714 shares. Boot Barn Holdings, Inc. (BOOT) is performing above average at a weekly performance of 6.08% moving into today with a quarterly performance of 26.82% and against their 52 week low by 79.86%. Boot Barn Holdings, Inc. (BOOT)’s monthly performance of 24.32% , profit margin 3.40%, -99.53% insider transactions. Boot Barn Holdings, Inc. (BOOT) is neutral in the Apparel Stores industry with an averaged analyst rating of 3 and EPS growth this year of 145.50%
FREE cool thx 0.13 messy. RCPI but 2 RS
Old pharma dog RCPI has had 2 RS. 2.85 +.09 had am pop.
Pharmas & some drugs been popular.
LAKE ran up into good earnings then profits. 11.89 -.85
Big increase revs on Ebola but so far MERS not any help, so to speak,
ACUR for what ails ya? 1.17 +.34 iffy em
FREE near 0.20? BDI 681 +3.8%. BALT
Must be something in wind and the water. BALT got approval to merge with Genco.
FREE wild spike to near 0.20 +.12 and dips back to .14 then .16
1.5M+ pre. No idea except maybe some rumor & BDI move.
The larger shippers like MATX DSX DCIX remain quiet. DRYS some volume but flatish.
Swiss voters reject initiative of fed inheritance tax
ZURICH --Swiss voters Sunday overwhelmingly rejected an initiative that would have imposed a federal inheritance tax, a charge which could have threatened many small and midsize firms that employ around 80% of the Alpine country's workers.
Roughly 71% of voters opposed the initiative, which organizers pitched as a way to shore up the country's social security system, while 29% supported the proposal, according to preliminary results from 21 out of the country's 26 cantons. Cantons are similar to U.S. states.
The initiative would have slapped a 20% tax on inheritances of more than 2 million Swiss francs ( $2.2 million ) passed directly onto children and replaced a mishmash of regional laws, most of which don't tax children who are heirs at all.
The Swiss government and industry groups had urged voters to reject the measure since many beneficiaries would have had to take on debt or sell their businesses to meet the tax bill.
The extent of the rejection didn't surprise analysts, as higher taxes remain a sensitive issue in the country. " There will be a sense of relief amongst most family-owned companies," said Patrick Emmenegger , professor of political science at the University of St. Gallen . "The Swiss however vote instinctively against any new taxes, and particularly those which could have negative economic consequences."
The initiative's proponents, the Protestant People's Party , said Switzerland needs a fairer and uniform inheritance tax. If the initiative had passed, the party proposed that two thirds of the revenue raised go to the country's social security system.
The rejection will please the Swiss business community, following a number of public votes which have muddied the country's business-friendly reputation.
Swiss voters two years ago backed the so-called Minder Initiative forcing publicly traded companies to get shareholder backing on executive compensation. A year later voters approved quotas for immigrants, a move that could hamper the hiring of qualified staff, and threaten its economic ties with the European Union .
At present only four of Switzerland's cantons impose inheritance taxes on wealth inherited from a parent. Heirs other than children pay rates ranging from 50% in Grisons to nothing in Schwyz.
Swiss voters also backed a proposed constitutional amendment that would permit the genetic testing of in vitro fertilization embryos.
Popular initiatives form a key part of Switzerland's direct democracy system, and are triggered when at least 100,000 signatures are collected to seek changes to the country's constitution.
Write to Neil MacLucas at neil.maclucas@wsj.com
(END) Dow Jones Newswires
06-14-15 0948ET
Copyright (c) 2015 Dow Jones & Company, Inc.
SEC officials demand new rules for stock transfer agents
http://www.reuters.com/article/2015/06/11/us-sec-transferagent-rules-idUSKBN0OR28O20150611
Thu Jun 11, 2015 12:12pm EDT
WASHINGTON | By Sarah N. Lynch
Two top officials at the U.S. Securities and Exchange Commission called on the regulator on Thursday to update stale rules governing back-office businesses that keep track of stocks as they change hands and of the issuance of shares.
The commission had not significantly revised the rules for the operations known as transfer agents in almost 30 years, SEC Democratic member Luis Aguilar and Republican member Daniel Gallagher said in a joint statement.
"As a result, the Commission’s anachronistic transfer agent rules and the services that the nation’s roughly 450 transfer agents provide today are out of sync," the statement said.
Transfer agents such as those operated by Computershare and Wells Fargo are hired by companies to keep track of shareholder records and changes in ownership.
To date, the industry has been lightly regulated, despite its critical role.
The SEC's enforcement division in recent years has placed a renewed focus on smaller transfer agents because of their so-called gatekeeper role that can help protect the market from microcap stock fraudsters.
Transfer agents are able to remove restrictions on private stock so that they can be freely tradable in public markets.
Those planning on committing stock fraud can lie to or mislead transfer agents so they can get restrictions on the shares illegally removed and sold publicly.
Once the stock is freely tradable, the fraudsters pump up the price with promotional material, including phony claims about the company's prospects, to dupe unsuspecting investors, and then they dump it before the price tanks.
The SEC has been working on updating the rules and it wants to release a high-level document discussing the industry to solicit feedback on what new rules might be appropriate.
But Aguilar and Gallagher said such a step falls short, and enough is known about transfer agents to write new rules now.
Aguilar and Gallagher called for rules that would safeguard investor assets, require transfer agents to have clear written agreements with their corporate clients, impose disaster recovery standards, and be designed to manage conflicts and prevent fraud, among other areas.
(Reporting by Sarah N. Lynch; Editing by Grant McCool)
If you think stocks are expensive, you have no idea ...
Biz Chart of the Day at link
http://www.businessinsider.com/forward-pe-ratio-now-vs-average-2015-6#ixzz3cttFMA6P
Sam Ro Jun 12, 2015, 4:49 PM
Relative to the earnings generated by their underlying companies, stocks are looking pretty expensive.
We're talking about the price-to-earnings, or P/E, ratio.
"The current 12-month forward P/E ratio is 16.8," FactSet's John Butters said on Friday. "This P/E ratio is above the 5-year average (13.8) and the 10-year average (14.1)."
But just because stocks are expensive relative to their long-term average is no guarantee that prices are doomed to fall immediately. Indeed, there are many instances in history when stock prices continued to rise and valuations continued to stretch for years before they corrected and reverted to the mean.
"Market multiples rarely trade at average levels," Morgan Stanley's Adam Parker once said.
Citi's Stephen Antczak examined the trajectory of the forward P/E ratio in the current and previous three cycles.
"The 'recovery' part of the last three business cycles has averaged 7.9 years (trough to peak)," Antczak said. "How far might we be from the peak of the current cycle? A sample of various markets suggest that we are 72% of the way through."
The S&P 500 is currently trading right around 2,100. But it would have to surge another 1,000 points for this P/E cycle to be "average."
Now, many folks would point out that the last two cycles were full-blown bubbles. But, that doesn't mean it won't happen again.
<END>
Saudi stock mkt opens directly to big foreigners Monday
Saudi Business Opening Drives Social Changes
JEDDAH, Saudi Arabia --Male and female employees of National Commercial Bank arrive though separate entrances and ride separate elevators. But once inside, they work side-by-side in the coastal headquarters of the country's biggest lender.
The practice is just one sign of how new business is beginning to transform one of the world's most conservative societies, as the kingdom's rulers move to diversify away from oil, create more jobs and integrate their largely insular economy into the global system.
One major step in this direction will come on Monday, when Saudi Arabia opens its $580 billion stock market--the biggest in the Middle East --directly to foreign investors.
The bank's executives and Saudi officials both view the opening as a way to help cautiously liberalize the economy and social policy, with new foreign investors raising corporate standards and broadening the workforce to include more women.
Alaa al-Mizyen , a 25-year-old female investment banker at NCB, is at the vanguard of this change. "Investors tend to be sophisticated, they look for the best," said Ms. Al-Mizyen , who speaks Arabic, English and French and co-founded an environmental group. "They don't care if it is male or female as long as they get what they want."
The shift isn't an easy sell in a desert kingdom that has long prided itself as being the very guardian of tradition (the official title of the Saudi king is "Custodian of the Two Holy Mosques"). Women enjoy few rights here-- even driving is off limits--and make up only about one-fifth of the workforce.
Conflicts between the conservative religious establishment and the Saudi ruling family are also simmering.
A controversy flared last year when the government opted to sell shares in state-owned NCB's initial public offering. Senior clerics, who hold sway over social policy, opposed letting the public buy stock in a company which charges loan interest, a forbidden act in strict Islamic jurisprudence. The clerics eventually were overruled and demand for the IPO was brisk.
And despite the government push to create jobs for locals in recent years, the unemployment rate remains high at 11.7%, according to official figures. Unemployment represents a serious challenge not only to the economy but also to the social and political order in a country where Islamic militants have made inroads in recruiting unemployed and disenfranchised youth.
The extremist group Islamic State has launched several attacks inside the kingdom since last November, targeting places of worship for the Shiite minority and members of the security forces. Saudi authorities arrested dozens of young men in the aftermath of these attacks. They haven't been charged.
After they weathered a stock market crash in 2006, the global financial crisis in 2008 and a wave of Arab uprisings, some Saudis now think this is the right time to open their stock market. Until now, only citizens of Saudi and Gulf countries could invest, with foreigners allowed limited, indirect access.
"The changes needed are very structural and very difficult," said Abdulaziz Aldukheil, who served as deputy minister of finance during the 1970s. They need "a strong political will."
King Salman , who ascended the throne in January after the death of his half-brother Abdullah, hasn't been shy about change. He appointed his 29-year old son Mohammed to lead the Council of Economic and Development Affairs ; he was later picked to be deputy crown prince, making him second in line to the throne.
The king also replaced cabinet ministers with new faces who come from the private sector, and restructured government bodies in charge of policy-making. The government has begun restructuring the national oil giant Aramco, and it is considering the creation of a sovereign-wealth fund to invest their reserves.
Under the terms of Monday's stock market opening, only large global institutional investors, with at least $5 billion in assets under management, will be allowed to buy directly into the market. The requirement is aimed at attracting more stable and experienced investors to a market that remains dominated by individual traders.
The entire market, however, remains limited to a small number of shares since the government controls the largest companies like the petrochemicals giant Sabic and Saudi Telecom Co.
Foreign investors will be restricted from investing in some companies like the ones based in the holy city of Mecca and firms deemed essential to national security. These restrictions are unlikely to curb the appetite of these investors.
For decades, Saudi Arabia has done little to diversify away from the oil sector. Oil revenue's share of the national budget has actually increased, to 93% in 2014 from 80.6% in 1960.
Still, the kingdom's economy has been growing by 4% to 5% a year since 2012 while the rest of the world, especially the developed markets, has been struggling. Saudi Arabia also has around $700 billion in foreign reserves, according to the International Monetary Fund . Saudi officials say they don't need to open the stock market to foreign investors for the money; overseas funds are expected to make up only a fraction of overall market capitalization.
"There are many reasons to open the market and to do it gradually, but liquidity is not one of them," said Mohammed Aljadaan, president of the Capital Market Authority , which regulates the stock market.
A more diversified economy could help address certain challenges. One problem is the country is burning through the reserves fast, as it attempts to maintain public spending on development and military programs as the price of oil declines. Saudi Arabia has drawn down a total of $47 billion of foreign reserves between October and May, central bank figures show. The reserves dropped by $36 billion , or 5%, over March and April.
Another economic issue is rooted in social attitudes. For Ms. al-Mizyen and other young Saudi women, the market opening is part of a new era where companies like hers are trying to fill slots with the most talented employees they can find, whether male or female. The bank's new CEO is the first woman in such position.
"I can honestly say I have a career path where I can advance," Ms. al-Mizyen said.
(END) Dow Jones Newswires
06-12-15 1914ET
Copyright (c) 2015 Dow Jones & Company, Inc.
Bullish Sentiment Slides in Latest AAII Poll
Bullish sentiment among investors fell sharply during the week ended Wednesday, according to the most recent weekly online survey of members of the American Association of Individual Investors , hitting the lowest level in more than two years.
The weekly poll of AAII members aims to measure the portion of individual investors who are bullish, bearish and neutral on the stock market for the coming six months.
In the latest AAII poll, bullish sentiment decreased to 20.04%--the lowest level since April 2013 -- from 27.34% a week earlier. Bearish sentiment rose to 32.58%--the highest level in nine months--from 24.63% the previous week.
The percentage of investors who described themselves as neutral on the stock market eased to 47.38% from 48.03%, according to the poll.
Last Friday's jobs report for May showed the economy is gaining momentum and offered further support for the Federal Reserve's first interest-rate increase in nearly a decade. That would crimp the low interest rate environment that has been a boon to so many companies.
The drop in optimism also comes as stocks have become expensive after years of surging market growth.
On Wednesday, the Dow Jones Industrial Average rose 236.36 points, or 1.3%, to 18000.40. It was the biggest one-day percent and point gain for the blue chips since May 8 .
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
06-11-15 0939ET
Copyright (c) 2015 Dow Jones & Company, Inc.
Japan bad/good Corp sentiment
Japan MOF: Big Co Apr-Jun Corp Mood Index Worse on Quarter
TOKYO--Large Japanese companies grew more pessimistic about business conditions in the April to June quarter, according to a survey released Thursday by the Finance Ministry .
The ministry's large company business sentiment index, which measures the percentage of companies saying that business conditions will improve minus those saying they will get worse, stood at -1.2 in the quarter.
That marked a deterioration from the reading for the January-March index, which was +1.9.
But Thursday's survey also showed that big companies expect business conditions to improve sharply in the coming months. The index stood at +10.6 for the July-September quarter and +8.9 for the October-December period.
Write to Takashi Nakamichi at takashi.nakamichi@wsj.com
(END) Dow Jones Newswires
06-10-15 1959ET
Copyright (c) 2015 Dow Jones & Company, Inc.
ISLE mean old momma to play, late run
Casinos in general iffy lately. ISLE moved up at 3pm ET 18.70 to 19.40 area now. Sector does tend to track market extremes. Runs with it more, falls more when that happens (and yes markets do fall).
WEST proxy A/S to 1.25Bil
The old Westinghouse Solar.
News 16:30ET
10-Jun-2015
Submission of Matters to a Vote of Security Holders
Item 5.07 Submission of Matters to a Vote of Security Holders.
On June 9, 2015, Andalay Solar, Inc., (the "Company") held its annual meeting of stockholders (the "Annual Meeting"), at which the Company's stockholders took action on six proposals. The proposals are described in detail in the Definitive Proxy Statement filed on April 30, 2015, as amended.
Proposal 2
The Company's stockholders approved an amendment to the Company's Certificate of Incorporation to increase the number of authorized shares of common stock to 1,250,000,000.
--------------------------
WEST Security Details
Share Structure
Market Value1 $4,459,324 a/o Jun 09, 2015
Authorized Shares 500,000,000 a/o Dec 12, 2013
Outstanding Shares 398,153,951 a/o Apr 10, 2015
-Restricted Not Available
-Unrestricted Not Available
Held at DTC Not Available
Float Not Available
Par Value No Par Value
Transfer Agent(s)
Shareholders
Shareholders of Record 29 a/o Apr 15, 2015
Corporate Actions Ex. Date Record Date Pay Date
Security Notes
•Note = Company delisted from NASDAQ on 09/06/12
•Capital Change=shs decreased by 1 for 4 split. Pay date=04/14/2011.