Greedy Pigs Get Slaughtered
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Looks like it is trying to form a new base.
I see a cup and handle formation on the chart.
Hopefully we can hold up.
I think this time around we'll have more than enough momentum to get through. ETRADE IS HOT! Thanks to the Baby and other stuff.
Morning group
E-Trade Sells Wealth Management Assets
Monday February 11, 9:07 am ET
E-Trade Sells Assets of Wealth Management Unit to PHH Investments As Part of Capital Plan
NEW YORK (AP) -- E-Trade Financial Corp. said Monday it agreed to sell nearly all of the assets of its RAA Wealth Management LLC unit to PHH Investments Ltd.
Including the sale of RAA and other unrelated transactions, E-Trade will receive about $80 million.
The deal is part of a broader turnaround plan E-Trade instituted late last year after it was hit by losses stemming from the deterioration of the mortgage market. The company has sold virtually all of its mortgage-related holdings and is looking to sell other noncore assets and raise capital to improve liquidity.
E-Trade has sold about $6 billion in mortgage-backed and municipal bonds since November as it looks to shed riskier assets and increase its cash holdings. The company is refocusing almost wholly on its retail banking and brokerage operations.
"We have taken swift action and are generating results to maximize the value of our assets," R. Jarrett Lilien, E-Trade's acting chief executive, said in a statement.
The sale is expected to close within three months.
Shares of E-Trade rose 22 cents, or 4.3 percent, to $5.39 in premarket trading.
Going to be a good day imo for Etrade. Market down, but we are up. The battle between shorts and buyers on the L2 is intense!
Maybe not afterall
"Etrade" Baby, you're a star
Posted 3h 14m ago
He spit up in front of 97.4 million people and "underestimated the creepiness" of a clown he hired, but the 9-month-old in E-Trade's (ETFC) two Super Bowl ads is a star. Both ads aired late in the game, but ranked 13th and 14th out of 53 game ads with consumers rating the ads in real time for USA TODAY's annual Super Bowl Ad Meter. Since then, they've been two of the most-watched game ads online and finished high in measures of online buzz.
How they made the ads: The crew at agency Grey New York filmed the baby (his name is not being disclosed) sitting in a high chair before a green screen making expressions, mostly in response to his mother. She sat in an adjacent room for the filming and was seen by the baby on a monitor. Added later digitally: the mouth movements of a 5-year-old actor, the voice of a 30-year-old and the keyboard, room items and clown. See the ads at media.usatoday.com.
Class Action Suit against SiRF Technology Holdings, Inc.
Friday February 8, 7:00 pm ET
SAN DIEGO--(BUSINESS WIRE)--Coughlin Stoia Geller Rudman & Robbins LLP (“Coughlin Stoia”) (http://www.csgrr.com/cases/sirf/) today announced that a class action has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of SiRF Technology Holdings, Inc. (“SiRF”) (NASDAQ:SIRF - News) publicly traded securities during the period between October 30, 2007 and February 4, 2008 (the “Class Period”).
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If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Darren Robbins of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/sirf/. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges SiRF and certain of its officers and directors with violations of the Securities Exchange Act of 1934. SiRF, through its subsidiaries, engages in the development and marketing of semiconductor and software products that are designed to enable location-awareness utilizing global positioning system and other location technologies worldwide.
The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and prospects. As a result of defendants’ false statements, SiRF stock traded at artificially inflated prices during the Class Period, permitting one of the defendants to sell $9.6 million worth of his SiRF stock at $24.18-$24.29 per share.
On February 4, 2008, after the market closed, the Company announced disappointing financial results for its fourth quarter and fiscal 2007. On February 5, 2008, SiRF’s stock collapsed $8.91 per share to close at $7.36 per share, a one-day decline of 54%.
According to the complaint, the true facts, which were known by the defendants but concealed from the investing public during the Class Period, were as follows: (a) SiRF’s acquisition of Centrality Communications, Inc. was having an adverse impact on SiRF’s results due to the similar products sold by Centrality which were cannibalizing SiRF’s sales; (b) SiRF’s major customers were not placing orders at sufficient quantities for SiRF to meet the aggressive targets set by and for the Company; (c) Centrality’s System-on-Chip (“SoC”) product line had lower gross margins than SiRF’s products and defendants knew that although the Centrality acquisition would increase revenues in the fourth quarter (as it did), it would also significantly lower SiRF’s gross margins (as it also did); (d) competitive pressures were having much more of an adverse impact on the Company than acknowledged by defendants, as SiRF’s customers were moving to cellular-enabled products which SiRF could not adequately compete with; (e) as of October 30, 2007, one month into the fourth quarter, fourth quarter gross margins would be down significantly because of the lower SoC product line margins; and (f) downward pricing pressures were accelerating and would lead to lower margins and earnings in future quarters.
Plaintiff seeks to recover damages on behalf of all purchasers of SiRF publicly traded securities during the Class Period (the “Class”). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm.
Contact:
Coughlin Stoia Geller Rudman & Robbins LLP
Darren Robbins, 800-449-4900 or 619-231-1058
djr@csgrr.com
Working on stock group
http://investorshub.advfn.com/boards/board.asp?board_id=11868
SHORT YAHOO?
Yahoo Board to Spurn $44B Microsoft Bid
Saturday February 9, 11:37 pm ET
By Michael Liedtke, AP Business Writer
Yahoo Board Intends to Turn Down Microsoft's Unsolicited $44.6 Billion Takeover Bid
SAN FRANCISCO (AP) -- Yahoo Inc.'s board will reject Microsoft Corp.'s $44.6 billion takeover bid after concluding the unsolicited offer undervalues the slumping Internet pioneer, a person familiar with the situation said Saturday.
The decision could provoke a showdown between two of the world's most prominent technology companies with Internet search leader Google Inc. looming in the background. Leery of Microsoft expanding its turf on the Internet, Google already has offered to help Yahoo avert a takeover and urged antitrust regulators to take a hard look at the proposed deal.
If the world's largest software maker wants Yahoo badly enough, Microsoft could try to override Yahoo's board by taking its offer -- originally valued at $31 per share -- directly to the shareholders. Pursuing that risky route probably will require Microsoft to attempt to oust Yahoo's current 10-member board.
Alternatively, Microsoft could sweeten its bid. Many analysts believe Microsoft is prepared to offer as much as $35 per share for Yahoo, which still boasts one of the Internet's largest audiences and most powerful advertising vehicles despite a prolonged slump that has hammered its stock.
Yahoo's board reached the decision after exploring a wide variety of alternatives during the past week, according to the person who spoke to The Associated Press. The person didn't want to be identified because the reasons for Yahoo's rebuff won't be officially spelled out until Monday morning.
Microsoft and Yahoo declined to comment Saturday on the decision, first reported by The Wall Street Journal on its Web site.
Yahoo's board concluded Microsoft's offer is inadequate even though the company couldn't find any other potential bidders willing to offer a higher price.
Without other suitors on the horizon, Yahoo has had little choice but to turn a cold shoulder toward Microsoft if the board hopes to fulfill its responsibility to fetch the highest price possible for the company, said technology investment banker Ken Marlin.
"You would expect Yahoo's board to reject Microsoft at first," Marlin said. "If they didn't, they would be accused of malfeasance."
But by spurning Microsoft, Yahoo risks further alienating shareholders already upset about management missteps that have led to five consecutive quarters of declining profits.
The downturn caused Yahoo's stock price to plummet by more than 40 percent, erasing about $20 billion in shareholder wealth, in the three months leading up to Microsoft's bid.
Seizing on an opportunity to expand its clout on the Internet, Microsoft dangled a takeover offer that was 62 percent above Yahoo's stock price of just $19.18 when the bid was announced Feb. 1. Yahoo shares ended the past week at $29.20.
Led by company co-founder and board member Jerry Yang, Yahoo now will be under intense pressure to lay out a strategy that will prevent its stock price from collapsing again. What's more, Yang and the rest of the management team must convince Wall Street that they can boost Yahoo's market value beyond Microsoft's offer.
Yahoo's shares traded at $31 as recently as November, but have eroded steadily amid concerns about the slowing economy and frustration with the slow pace of a turnaround that Yang promised last June when he replaced former movie studio mogul Terry Semel as Yahoo's chief executive officer.
This isn't the first time that Yahoo has spurned Microsoft. The Redmond, Wash.-based company offered $40 per share to buy Yahoo a year ago only to be shooed away by Semel, according to a person familiar with the matter. The person didn't want to be identified because that bid was never made public.
Yahoo now may want that Microsoft to raise its price to at least $40 per share again. That would force Microsoft to raise its current offer by about $12 billion -- a high price that might alarm its own shareholders.
Microsoft's stock price already has slid 12 percent since the company announced its Yahoo bid, reflecting concerns about the deal bogging down amid potential management distractions, sagging employee morale and other headaches that frequently arise when two big companies are combined.
Although it isn't involved directly in the deal, Google is the main reason Yahoo is being pursued by Microsoft.
Yahoo has struggled largely because it hasn't been able to target online ads as effectively as Google.
Microsoft believes Yahoo's brand, engineers, audience and services will provide the company with valuable weapons in its so far unsuccessful attempt to narrow Google's huge lead in the lucrative Internet search and advertising markets.
As it examined ways to thwart Microsoft, Yahoo considered an advertising partnership with Google -- an alliance long favored by analysts who believe it would boost the profits of both companies. It was unclear Saturday if Yahoo's plans for boosting its stock price include a Google partnership, which would probably face antitrust issues.
A Microsoft takeover of Yahoo would also be scrutinized by antitrust regulators in the United States and Europe. The antitrust uncertainties could be cited as one of the reasons that Yahoo's board decided to spurn Microsoft.
Yahoo: http://info.yahoo.com/
Microsoft: http://www.microsoft.com
It gives me more reason to buy in this week. :)
Found this On FRPT, billionaire buys some FRPT
Here he is:
http://www.forbes.com/finance/lists/10/2003/LIR.jhtml?passListId=10&passYear=2003&passListType=Person&uniqueId=VIQ4&datatype=Person
This name on this filling:
http://yahoo.brand.edgar-online.com/fetchFilingFrameset.aspx?FilingID=5702304&Type=HTML
E-Trade Financial Technical Check
February 08, 2008 4:47 PM EST
Posted by Thomas Catino
E-Trade Financial Corp. (ETFC) broke out above resistance in late afternoon trading, closing above $5 for the first time since November 28. The stock brushed up against resistance during the early part of the day, failing to move up for the first few hours of the session until a mid-day surge in volume was enough to vanquish sellers anchored at the $5 asking price. E-Trade finished up by $.35 to $5.17 for a decent-sized bullish move of 7.26% though volume was only average with 56.9 million shares changing hands. Prior to this breakout, for three straight trading sessions beginning on January 31, the stock had traded above $5 intra-day but failed to close above that level each time. If the momentum continues and traders rush in and support the breakout, E-Trade could test the next technical level at $6 and approach a huge chart gap stretching all the way to $8 a share created from E-Trade's November stock price collapse on bankruptcy fears. Over the past three months, E-Trade has been quite volatile, recently coming significantly off its low of $2.08 on news of a turnaround plan and insider buying that has instilled some confidence in the company.
E-Trade Financial Technical Check
February 08, 2008 4:47 PM EST
Posted by Thomas Catino
E-Trade Financial Corp. (ETFC) broke out above resistance in late afternoon trading, closing above $5 for the first time since November 28. The stock brushed up against resistance during the early part of the day, failing to move up for the first few hours of the session until a mid-day surge in volume was enough to vanquish sellers anchored at the $5 asking price. E-Trade finished up by $.35 to $5.17 for a decent-sized bullish move of 7.26% though volume was only average with 56.9 million shares changing hands. Prior to this breakout, for three straight trading sessions beginning on January 31, the stock had traded above $5 intra-day but failed to close above that level each time. If the momentum continues and traders rush in and support the breakout, E-Trade could test the next technical level at $6 and approach a huge chart gap stretching all the way to $8 a share created from E-Trade's November stock price collapse on bankruptcy fears. Over the past three months, E-Trade has been quite volatile, recently coming significantly off its low of $2.08 on news of a turnaround plan and insider buying that has instilled some confidence in the company.
new hod, more to come. I am working on starting my group. http://investorshub.advfn.com/boards/board.asp?board_id=11868
awesome update. I saw those ads on the super bowl, and they did catch my attention.
gonna blow past $4.75 any minute here.
ETFC Chart is bullish. OBV moving up nicely.
ETFC headed toward $4.75, could be nice once we break past it.
ETFC nice here, $5 by eod?
Interesting, will be watching.
don't post there. This will be for us.
Thanks for the info, I appreciate it.
I wouldn't trade on what i am saying. I like AUCI, just not how it is trading. I am done trading for the month, until the dow starts looking better. So right now I am just watching my other long stocks.
I've experienced this before with anrc(rs and different name now), where people brag about buying on the bid. If nobody is buying on the ask it will sink to new lows and thus discourage new buyers. When it slows down, somebody will pump it then the process repeats itself.
I was just being sarcastic, I'm not the one buying this down.
"can't wait to add .04 then .03!"......
yep, and ETFC is worse.
Interesting news. WASHINGTON (Reuters) - A federal grand jury in Detroit has indicted a Michigan man dubbed the "spam king," and 10 others, in an international illegal bulk e-mailing and stock fraud scheme, the U.S. Justice Department said on Thursday.
The 41-count indictment charges Alan Ralsky, 52, of West Bloomfield, Michigan, his son-in-law, and nine others with operating an spamming operation that focused on running a stock "pump and dump" scheme.
"Today's charges seek to knock out one of the largest illegal spamming and fraud operations in the country, an international scheme to make money by manipulating stock prices through illegal spam e-mail promotions," U.S. Attorney Stephen Murphy said in a statement.
Under the scheme, the group sent spam touting thinly traded Chinese penny stocks, drove up their stock price, and reaped profits by selling the stock at artificially inflated prices, the statement said.
The Detroit Free Press said prosecutors described Ralsky as one of the most prolific spammers in the United States.
According to the indictment, the Ralsky's group used various illegal methods in order to maximize the amount of spam that evaded spam-blocking devices and tricked recipients into opening, and acting on, the advertisements in the spam.
The indictment followed a three-year investigation. Investigators estimate that those charged earned approximately $3 million during the summer of 2005 alone as a result of their illegal spamming activities.
Three people have been arrested, including Ralsky's son-in-law Scott Bradley and How Wai John Hui, a dual national of Canada and Hong Kong. The others, including a Russian national, still are being sought, the Justice Department said.
The Detroit News reported that Ralsky was believed to be in Europe and quoted his attorney, Philip Kushner, as saying Ralsky would voluntarily surrender to federal authorities in the next few days.
"Mr. Ralsky intends to fight these charges, which are brought under a new federal statute that has not been interpreted by the courts," Kushner told the paper.
it was sold below the bid, weird.
This is absolutely ridiculous. Seems like the people want to short this to hell. I am down almost 70% of my initial investment, not how I wanted to start the year off. :(
looks like L2 support is at .085 and resistance is at .14.
Anyone pick up some RCH early today?
I agree with you, I don't know what Bell is protecting people from. I don't see a pump and dump, I see a very oversold good stock. I'll help you "pump" the word out to get people to check this out. Since when is it illegal to tell people about a stock, lol. Have a MERRY CHRISTMAS!
MERRY CHRISTMAS!!
no "happy holidays" bullshit. Dec.25, celebration of the birth of Christ, not a holiday for Atheist.
RCH looking good
I am going to wait till 2008 on this one. From what i have heard, right now a lot of people from Bill Panetta's group are in this stock. Most of those people in that group are a bunch of low money scalpers, you probably will be seeing them "steal" money from us longs for now. Could be tax traders selling. Also it could be Canadian short sellers bringing it down. This is only my observations and I could be wrong.
NFI in action again. More possible daytrading opportunities.