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It's been many years since I had to worry about options but isn't there a class of options taxable on exercise and another taxable upon sale of the stock?
You haven't listed the multiple uses of the word "manipulation" to justify hanging on to a dog going south.
I'm currently out of RIG (stopped out at 42.56) but may go back in - too deeply oversold.
Date?
Amazing—this write-up does not mention Post-It notes!
Indeed. A sad commentary on the decline of financial journalism!
Is this the same Grantham whose words were able to roil markets in the 1980's?
EDIT - I'm thinking of somebody else judging from Jeremy's photo
http://community.nasdaq.com/News/2011-12/gurus-bullish-on-natural-resource-stocks.aspx?storyid=108189
Don't know the analyst or the site. A link from FT sent me to it. Most of the stocks mentioned have been the subject of posts here.
Haluska used the word "encouraging", never a good sign when biotechs report trial results. At least he did not use the death knell phrase "we are excited", so that is definitely a plus for tomorrow.
The passage of time is outside the box?
That is attractive.
a few months?
last year one article summed-up 3M as a manufacturer of sandpaper.
Management must find that quite grating.
I was trying to be funny, and failed lamentably - the writer thinks 3M can be summed up in post-it notes. Sorry.
This is what 3M thinks it does:
3M Company, together with subsidiaries, operates as a diversified technology company worldwide. The company?s Industrial and Transportation segment offers tapes, coated and non-woven abrasives, adhesives, specialty materials, filtration products, energy control products, closure systems for personal hygiene products, acoustic systems products, and components and products that are used in the manufacture, repair, and maintenance of automotive, marine, aircraft, and specialty vehicles. Its Health Care segment provides medical and surgical supplies, skin health and infection prevention products, inhalation and transdermal drug delivery systems, dental and orthodontic products, health information systems, and food safety products. The company?s Display and Graphics offers optical film solutions for LCD electronic displays; computer screen filters; reflective sheeting for transportation safety; commercial graphics sheeting and systems; and mobile interactive solutions, including mobile display technology, visual systems products, and computer privacy filters. The company?s Consumer and Office segment provides office supply products, stationery products, construction and home improvement products, home care products, protective material products, certain consumer retail personal safety products, and consumer health care products. Its Safety, Security and Protection Services segment offers personal protection products, safety and security products, cleaning and protection products for commercial establishments, track and trace solutions, and roofing granules for asphalt shingles. The company?s Electro and Communications segment provides packaging and interconnection devices; fluids that are used in the manufacture of computer chips, and for cooling electronics and lubricating computer hard disk drives; high-temperature and display tapes; insulating materials, including tapes and resins; and related items.
Self delusion. Its range is quite limited.
Among the Dow's top performers was 3M, which rose after the maker of Post-It notes forecast 2012 earnings that were stronger that many analysts expected.
Sent my "answer" before reading the board the morning, sorry
Writedown of the existing inventory of common or garden Promus stent?
Well, I have a question - why would the inventory be overvalued prior to approval?
Brazil has temporarily banned Chevron from drilling in the country after it caused an oil spill off the coast of Rio de Janeiro, raising doubts about the company’s role in one of the industry’s biggest investment programmes.
ANP, Brazil’s oil and gas regulator, accused the US company of negligence late on Wednesday, announcing it would suspend all of Chevron’s drilling until it clarified the reasons for a spill that released almost 3,000 barrels of oil into the sea earlier this month.<snip>
Thank you. Ominous indeed.
Might make a good entry, for a short term hold at least. Since Macondo, oil companies with a leak are not given the benefit of the doubt.
For the longest time I thought it meant the layer above the salt, i.e., before the drill had penetrated to the salt. I had it totally backwards.
Hope so - I own some RIG
Consequences of the CVX oil spill are apparently more severe than originally reported, at least in the eyes of the Brazilian regulator.
Transocean Ltd. (RIG), the operator of the rig that exploded in the Gulf of Mexico and caused the worst U.S. maritime spill, and Chevron Corp. (CVX) may be banned from deep- water drilling in Brazil after an oil leak.
Chevron, which was fined 50 million reais ($28 million) by Brazilian environmental authorities, may lose the right to develop deep-water fields there and be ordered to pay as much as 100 million reais to the regulator, Haroldo Lima, the head of the agency, said. The regulator may also ban Transocean, Lima said. Rio de Janeiro state may claim another 100 million reais in damage, Rio Environment Secretary Carlos Minc said.
“If we have reasons to do this, we will,” Lima told reporters in Sao Paulo today, referring to a possible downgrade of the “class A” status that allows Chevron to drill in deep water. “It will depend on a detailed analysis.”
Drilling at Chevron’s Frade project in the Campos Basin off Rio’s coast triggered a leak of as much as 3,000 barrels in eight days, Lima said. The spill followed a surge of pressure from an oil reservoir on Nov. 7, George Buck, San Ramon, California-based Chevron’s head of operations in Brazil, said in Rio yesterday.<snip>
A couple of possible takeover candidates were decidedly unbuoyant today, like INCY and MNTA, so the ARIA move may be intrinsic to it.
Today, IMO, was entirely due to the VRUS news. Greed won out over fear.
Schwab shows 2161 of the 12's traded against an OI of 7318
It might have to penetrate the 50 MA first.
167 contracts is the total open interest for the nov 2.50's - so I suspect you're right - no interest.
Thanks for bringing that up, PGS. The responses have given me a lot of new ideas for charitable giving this year.
My suggestion is:
Rev. Robert Gutleben
Covenant Connection
410 Murphy Ave.,
Sebastopol, CA 95472
(Reintegration of recently released convicts into society.)
Gotcha, thanks.
Why was the post and accompanying article deleted? It was skeptical but not offensive, as I recall.
Except for the revenue miss.
I'll agree with that, but as bumps go it's been a hell of a bump.
after European leaders took action to contain the debt crisis.
It seems from today's action that they didn't.
There is a race of people, mainly investment bankers, who land on their feet no matter how badly they mess up. Fuld is still gainfully employed, for instance. But this one may be a zinger - at least I hope so.
(Some guys are perennial survivors. The bank I worked for had a head of London Investment Banking who decided to roll the dice on a huge (for the time, I'm talking 1970's) contingent bonus, because he thought he could do better. After one year, his bonus was 0. He subsequently became Ambassador to France.)
I'm sorry, it was meant to be public, but I pushed the wrong button.
ZURICH—Novartis AG Tuesday launched a major job and cost-cutting program as the Swiss pharma giant reported a weaker-than-expected 7.9% rise in third-quarter net profit.
The Basel-based pharmaceuticals firm said net profit for the three months to the end of September rose to $2.46 billion, up from $2.28 billion a year earlier but well below market forecasts of $2.81 billion. Revenues rose 18% to $14.84 billion in the latest quarter, up from $12.58 billion a year earlier.
Novartis said profits were hurt by the franc's strength and drug price cuts, and last year's multi-billion-dollar acquisition of eye-care company Alcon only partly offset the impact of the strong franc.
Novartis said it plans to cut about 2,000 positions, mostly in the U.S. and Switzerland, and close two sites in Switzerland and one in Italy.
The measures, which will be partially offset by the creation of 700 new positions in countries with lower costs, are scheduled to occur over the next three to five years. Novartis had around 120,000 full-time associates at the end of 2010.
"To strengthen our future, we have accelerated actions to reduce our cost base over the next few years," Novartis Chief Executive Joe Jimenez said in a statement. "These actions are necessary to ensure that we adapt our organization to continue delivering on our mission of bringing innovative new drugs to patients."
The layoffs at Novartis come against the backdrop of massive job cuts in Switzerland, where export-oriented companies across all industries have come under particular strain because of the strength of the Swiss franc.
Although the Swiss National Bank has successfully capped the franc against the euro in early September, more jobs are feared to be lost as the franc is still considered to be overvalued, making it more difficult to sell goods and services out of the country.
Novartis, which reports in dollars, operates two large plants in Switzerland and runs a huge research facility at its headquarters in Basel.
The revenue number met analysts' forecasts of $14.8 billion, even as the company's blockbuster heart drug Diovan and cancer medicine Femara continued to face generic competition. Revenues benefited from the franc's strength as well as the full inclusion of Alcon, which last year was only consolidated for the month of September,
Novartis, which last week along with Johnson & Johnson Inc. became the target of a European Commission investigation into a possible breach of antitrust rules by preventing generic players from entering a segment of the Dutch drug market—has been struggling for months with the strong Swiss currency. The company is also facing increased generic pressure as Novartis' blockbuster drugs are set to lose patent protection.
Write to Goran Mijuk at goran.mijuk@dowjones.com
I was interpreting the post DEW referenced in the simplest Occam's razor way possible - he wouldn't buy it now.