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KING saw it Friday. SINA too
Noticed KING was moving on Friday. Media stocks in general having some moves. Tiny MARK is one I left way too early but had it from lows to 6.50 area and now tapping 9. Very thin - outfit aquires various web companies.
SINA chart is more pricey than KING but is at an earlier stage of rising out of a shallow bowl. Worth a few shrs w/ tight stop.
It's a China web-media play that could run if word of settling with government over some censorship type issues. Revs & earns up in good amounts to offset a loss (smaller though this qtr).
I like risers from bowls since easy to place stop at bowl low.
Stay with one if continues to rise strongly and dump if goes flat.
Japan biz sentiment dips in Qtr
Business sentiment in Japan dipped in the three months to June, the Bank of Japan's closely-watched tankan survey showed on Tuesday. The headline index for big manufacturers' sentiment slipped by five points from three months ago to plus 12, compared with analyst expectations in a Reuters poll for a reading of plus 15. http://www.cnbc.com/id/101798863
FOLD tgt $7 ug to OW jpm em
Moody's Changes Outlook On Us Gaming Industry To Negative From Stable
http://www.moodys.com/page/viewresearchdoc.aspx?docid=PR_303000&WT.mc_id=NLTITLE_YYYYMMDD_PR_303000
(END) Dow Jones Newswires
06-30-14 1101ET
new H L
New Highs 45
COMPANY SYMBOL HIGH VOLUME
------- ------ ---- ------
Abraxas Pete AXAS 6.26 345,423
Akorn AKRX 32.11 60,636
Bridge Capital Hldgs BBNK 24.68 1,036
Cal-Maine Foods CALM 74.63 8,868
Calamos Glbl Dyn Inc CHW 9.83 16,824
Cascade Microtech CSCD 13.95 29,526
Charter Communications CHTR 156.79 80,121
Consolidated Comm Hldgs CNSL 22.50 99,221
Ctripcom Intl CTRP 62.75 327,737
Durata Therapeutics DRTX 17.40 11,613
Enventis Corp. ENVE 16.36 19,016
Exactech EXAC 25.50 3,315
Fortinet Inc FTNT 24.80 69,659
GW Pharmaceuticals ADS GWPH 102.38 520,767
Handy & Harman HNH 28.18 3,560
Integrated Device Tech IDTI 15.59 224,899
Ironwood Pharm Inc IRWD 15.68 26,364
iSh All Asia Info Tech AAIT 35.00 246
JetBlue Airways JBLU 10.97 490,545
KLA-Tencor KLAC 71.97 116,282
MakeMyTrip MMYT 35.09 16,912
Manhattan Bridge LOAN 3.38 2,044
MannKind MNKD 11.48 16,784,110
Medical Action Industries MDCI 13.84 71,890
Michaels Cos. Inc. MIK 17.28 163,147
Multi-Color LABL 43.36 70,197
Navient Corp. NAVI 17.98 50,496
NetScout Systems NTCT 44.02 15,591
Old Sec Cap Tr I 7.8% pfd OSBCP 13.59 5,300
Popular Inc. BPOP 34.68 76,862
PwrShrs QQQ Tr Series 1 QQQ 93.91 2,855,836
ProShares UltraPro QQQ TQQQ 74.75 103,845
Repligen RGEN 23.11 23,039
Robo-Stox Gl Robotics ROBO 27.84 7,258
A Schulman SHLM 38.35 5,704
Silicon Motion Tech ADS SIMO 19.90 15,792
Sotherly Hotels Inc. SOHO 8.07 977
Supernus Pharmaceuticals SUPN 11.01 20,628
Take-Two Interactive TTWO 22.47 101,519
Teletech Hldgs TTEC 29.60 15,750
TripAdvisor TRIP 111.24 166,979
Vanguard Natural Rscs VNR 32.01 25,750
VS Inverse VIX MedTerm ZIV 46.29 8,671
Wolverine Bancorp WBKC 22.73 1,100
Zillow Cl A Z 142.50 194,302
New Lows 10
COMPANY SYMBOL LOW VOLUME
------- ------ ---- ------
bebe stores BEBE 3.01 102,076
Elizabeth Arden RDEN 21.76 115,869
GRAVITY Co ADS GRVY 0.80 8,050
iSh MSCI Qatar Capped QAT 22.01 4,312
NewLead Hldg Ltd NEWL 0.23 3,824,649
Parnell Pharmaceuticals PARN 6.90 13,905
ProSh UltraPro Shrt QQQ SQQQ 43.10 160,202
Tower Group International TWGP 1.62 649,346
VS 2x VIX Med Term TVIZ 22.07 700
WT Japan Interest Rate JGBB 48.77 210
s-Split or stock dividend of 10 percent or more in the past 52 weeks.
n-New issue in past 52 weeks and does not cover the entire 52 week period.
Source: WSJ Market Data Group
(END) Dow Jones Newswires
06-30-14 1021ET
Copyright (c) 2014 Dow Jones & Company, Inc.
LINE to trade late, acquired assets
was on halt
* PREVIEW: Linn Energy and Linn Co To Open For Quote at 9:45 am, Open For Trade at 9:50 am
HOUSTON , June 30, 2014 (GLOBE NEWSWIRE) -- LINN Energy, LLC (Nasdaq:LINE) ("LINN" or "the Company") and LinnCo, LLC (Nasdaq:LNCO) ("LinnCo") announced today that LINN has signed a definitive agreement to acquire assets in five U.S. operating areas from Devon Energy Corporation (NYSE:DVN) ("Devon") for $2.3 billion . The assets are currently producing approximately 275 MMcfe/d, approximately 80 percent of which is natural gas, with a shallow base decline of approximately 14 percent. Total proved reserves are estimated to be between 1.3-1.5 Tcfe (approximately 75 percent PDP) with total resource potential of approximately 3 Tcfe. The asset package is comprised of approximately 900,000 net acres across the Rockies, Mid-Continent, east Texas , north Louisiana and south Texas regions with approximately 4,500 total wells. LINN has identified over 1,000 future drilling locations and over 600 recompletion opportunities. LINN's acquisition of Devon assets is intended to be financed ultimately through the sale of its Granite Wash assets and other non-producing acreage in LINN's portfolio. Potential excess proceeds from the sale of assets, if any, will be used initially to reduce debt and for general corporate purposes.
Image: LinnCo logo
"Early in 2014, we outlined four keys to success at LINN: realize value for the Midland Basin position; continue to make accretive acquisitions; reduce capital intensity while increasing efficiency; and improve credit metrics," said Mark E. Ellis , Chairman, President and Chief Executive Officer. "We believe today's announcement is a positive development in achieving these objectives. As we enter into the second half of the year, we remain committed to these important goals."
Sale of Granite Wash Assets
LINN plans to sell its position in the Granite Wash and Cleveland plays located in the Texas Panhandle and western Oklahoma. Currently, LINN is operating four drilling rigs in the area and producing 230 MMcfe/d of liquids-rich natural gas. LINN's talented team has successfully tested and developed 17 horizontal intervals, including shallow oil, liquids-rich Granite Wash and deep Atoka natural gas. As a result of this delineation, LINN has catalogued significant drilling inventory over its approximately 147,000 net acre position. LINN first began horizontally drilling the Granite Wash in 2010 and has grown production in this prolific area from 65 MMcfe/d to its current rate. To support this growth, the Company developed a substantial integrated network of infrastructure including midstream and water handling facilities which is capable of and recently handled a larger rig program.
Significant benefits from the acquisition of Devon assets and the planned sale of LINN assets:
Reinforce LINN's mission of developing mature, long-life oil and natural gas properties;
Lower decline rate and reduce capital intensity;
Tax efficient upon successful completion of 1031 like-kind exchange;
Meaningful additions to the Company's Rockies and Mid-Continent positions;
Accretive to excess of net cash provided by operating activities after distributions to unitholders;
Credit positive from increased steady stream of predictable cash flow, production and reserves.
Interim Financing
LINN has secured $2.3 billion of committed interim financing for the acquisition of Devon assets, subject to final documentation. The financing was lead arranged by Scotiabank and included Barclays , RBC Capital Markets and Wells Fargo .
The transaction with Devon is subject to satisfactory completion of title and environmental due diligence, as well as the satisfaction of closing conditions. The transaction is expected to close in the third quarter of 2014 with an effective date of April 1, 2014 .
Supplemental information regarding the acquisition of Devon assets is posted at www.linnenergy.com.
Advisors
Scotia Waterous acted as the exclusive financial advisor to LINN during this transaction.
ABOUT LINN ENERGY
LINN Energy's mission is to acquire, develop and maximize cash flow from a growing portfolio of long-life oil and natural gas assets. LINN Energy is a top-15 U.S. independent oil and natural gas development company, with approximately 8 Tcfe of proved reserves (pro forma for announced 2014 trade and acquisition) in producing U.S. basins as of December 31 , 2013. More information about LINN Energy is available at www.linnenergy.com.
ABOUT LINNCO
LinnCo was created to enhance LINN Energy's ability to raise additional equity capital to execute on its acquisition and growth strategy. LinnCo is a Delaware limited liability company that has elected to be taxed as a corporation for United States federal income tax purposes, and accordingly its shareholders will receive a Form 1099 in respect of any dividends paid by LinnCo. More information about LinnCo is available at www.linnco.com.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS
This press release includes "forward-looking statements." All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements include, but are not limited to forward-looking statements related to acquisitions, trades or divestitures, timing and payment of distributions, taxes and the expectations of plans, strategies, objectives and anticipated financial and operating results of the Company, including the Company's drilling program, production, hedging activities, capital expenditure levels and other guidance included in this press release. These statements are based on certain assumptions made by the Company based on management's experience and perception of current conditions, historical trends, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include risks relating to the Company's financial performance and results, availability of sufficient cash flow to pay distributions and execute its business plan, prices and demand for oil, natural gas and natural gas liquids, the ability to replace reserves and efficiently develop current reserves and other important factors that could cause actual results to differ materially from those projected as described in the Company's reports filed with the Securities and Exchange Commission . Please read "Risk Factors" in the Company's Annual Report on Form 10-K and other public filings and press releases.
Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.
CONTACT: LINN Energy, LLC and LinnCo, LLC
Investors and Media:
Clay Jeansonne , Vice President, Investor and Public Relations
281-840-4193
Zach Dailey , Director, Investor Relations
713-904-6547
Sarah Nordin , Public Relations & Media
713-904-6605
Image: LINN Energy , LLC Logo
Source: LINN Energy, LLC ; LinnCo, LLC
Japan Output Rebounds in Sign Manufacturers Enduring Tax Rise
Compare above Bberg headline to CNBC one (way I saw it stressing "below expectations):
Japan industrial output rises 0.5% in May, below expectations
Video & short piece at CNBC. http://www.cnbc.com/id/101798473
----------------------------------------- Bberg below.
By Keiko Ujikane Jun 29, 2014 7:59 PM ET
Japan’s production rebounded in May, indicating that manufacturers are riding out a sales-tax increase as Prime Minister Shinzo Abe seeks to steer the economy through its aftermath
Industrial output rose 0.5 percent after dropping 2.8 percent in April, the trade ministry said today. The median forecast of 28 economists surveyed by Bloomberg News was for a 0.9 percent increase. The government projects production will decrease 0.7 percent in June and increase 1.5 percent in July.
With the economy forecast to contract this quarter, the focus is on whether growth will be strong enough over the next three months for Abe to proceed with a further increase in the consumption levy. A weak expansion may raise the odds of fiscal or monetary support in the coming months.
“Japan’s economy is on course for a rebound in the July-September period,” Hiroaki Muto, a senior economist at Sumitomo Mitsui Asset Management Co. in Tokyo, said before the report. “A further increase in the sales tax is a foregone conclusion unless the economy contracts next quarter.”
The economy is forecast to shrink an annualized 4.4 percent this quarter after 6.7 percent growth in the first three months of the year. Economists project a 2.2 percent expansion in the July-September period.
Abe will base his decision on raising the sales tax to 10 percent in October 2015 from 8 percent now on economic data next quarter.
To contact the reporter on this story: Keiko Ujikane in Tokyo at kujikane@bloomberg.net
To contact the editors responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net Andy Sharp, James Mayger
The C.E.O. Is My Friend. So Back Off.
Tough to find/follow the last paragraph advice from study.
Fair Game
By GRETCHEN MORGENSON NY Times JUNE 28, 2014
It was probably a coincidence, but then again maybe not.
Just days earlier, the board of American Apparel finally ousted Dov Charney, the company’s flamboyant founder and controversy magnet. And there was Mary Jo White, the chairwoman of the Securities and Exchange Commission, standing in front of an audience that included a fair number of corporate directors, urging them to be more accountable.
In the speech, at the Rock Center for Corporate Governance at Stanford University, Ms. White emphasized their crucial duty to protect shareholders from abusive practices at companies they oversee.
“Setting the standard in the boardroom that good corporate governance and rigorous compliance are essential goes a long way in engendering a strong corporate culture throughout an organization,” Ms. White said, later adding that “ethics and honesty can become core corporate values when directors and senior executives embrace them.”
Why wouldn’t board members embrace these values? Cozy board ties with the chief executive might be one reason. A recent academic study, to be published in the July-August issue of The Accounting Review, suggests that lax oversight can result when a director of a company is friendly with the chief executive overseeing it.
But the research makes a counterintuitive finding as well. The conventional wisdom holds that when you disclose personal ties, you create transparency and better governance. The experiment found that when social relationships were disclosed as part of director-independence regulations, board members didn’t toughen their oversight of their chief-executive pals. Rather, the directors went easier on the C.E.O., perhaps believing that they had done their duty by disclosing the relationship.
The study, “Will Disclosure of Friendship Ties between Directors and C.E.O.s Yield Perverse Effects?,” was conducted by four academics: Jacob M. Rose and Anna M. Rose of Bentley University, Carolyn Strand Norman of Virginia Commonwealth University and Cheri R. Mazza of Sacred Heart University.
Back in 2013, the researchers set out to conduct a thought experiment with a group of directors on the topic of board relationships. The academics secured the participation of 56 current directors at companies of all sizes. The participants had 30 years of business experience, on average, and generally served on multiple boards — 2.64 was the mean. About one-quarter of the directors served on an audit committee.
In the experiment, the directors were asked to role-play as board members of a hypothetical biotech company that was about to report earnings for the year. The company had been expected to earn $805 million, the directors were told, but its actual profits were going to be just $800 million. That shortfall would have an impact on the compensation of the chief executive, who would receive a bonus only if the company earned at least $810 million.
The directors participating in the experiment were divided into two groups. Two-thirds were told to assume that they had a personal or social relationship with the C.E.O. of the biotech company. The remaining third were told they had no such tie.
Of those who were friendly with the executive, half were told that they had disclosed their relationship to the board, to company management and to shareholders. The other half were told to assume that they hadn’t made the disclosure.
The only option given to the directors to make up the shortfall — and thus help the C.E.O. get a bonus — was to cut the company’s $40 million budget for research and development. As they weighed this possibility, they were told that for every $1 million cut in that budget, there would be a 1 percent increase in the chance that the company would lose ground to its competitors.
Now for the results: Among the directors who counted the C.E.O. as a friend, 46 percent said they would cut research and development by one-quarter or more to ensure a bonus payout to their pal. By contrast, only 6 percent of directors with no personal ties to the chief executive agreed to reduce research and development to generate a bonus.
That’s to be expected.
The results get more interesting when disclosure is added to the mix. Of the directors who said they would cut $10 million or more from the budget — the amount necessary to generate a bonus to the chief executive — an astonishing 62 percent had disclosed a friendship with the C.E.O. Only 28 percent of the directors who had not disclosed their relationship with the executive agreed to make the cuts necessary to generate a bonus.
Only one director with no ties to the executive agreed to cut the budget by $10 million or more.
Mr. Rose, an author of the paper, said he and his colleagues were surprised that so many directors said they’d be willing to put the company at risk to ensure a bonus for their pal, the C.E.O. “If just by mentioning that you’re friends with the C.E.O. it affects their decision-making, we think the effects going on in the real world are much, much larger than what we picked up in the lab,” Mr. Rose said in an interview last week.
Even more disturbing, he said, was that so many directors seemed to think that disclosing their friendships with the C.E.O. gave them license to put the executive’s interests ahead of the company’s.
“When you disclose things, it may make you feel you’ve met your obligations,” Mr. Rose said. “They’re not all that worried about doing something to help out the C.E.O. because everyone has had a fair warning.”
There are two messages in this study. One is for regulators: Simply disclosing a conflict or friendship does not eliminate its potential to create problems.
The other is for investors.
“Shareholders should take a more active role in finding out what kinds of relationships their boards and C.E.O.s have,” Mr. Rose said, “and recognize the potential traps created by them.”
The Dark Pool Iceberg
Lawsuit Against Barclays Shows Need for More Scrutiny
By THE EDITORIAL BOARD NY Times JUNE 28, 2014
Shareholders and brokerage houses ditched Barclays at the end of last week, and who could blame them? In addition to its involvement in serial financial scandals — including the manipulation of interest rates and gold prices — the bank now stands accused of fraud related to its “dark pool,” essentially a private stock exchange.
Generally operated by banks, dark pools are supposed to be a safe way for institutional investors to execute block trades without worrying that their transactions will move market prices before the deal is completed.
A scathing lawsuit filed on Wednesday by the New York State attorney general, Eric Schneiderman, claims that Barclays repeatedly lied to brokers about the extent of aggressive and predatory high-speed trading in the pool — activity that exposed investors to precisely the type of price distortions they were trying to avoid and that, not incidentally, enriched Barclays by increasing the number of transactions executed in the pool.
The lying took the form of private and public assurances by Barclays that investors in its pool were continually shielded from high-speed trading when, to the contrary, the bank actively sought to attract such traders to its venue and even bolstered their trading strategies by giving them privileged information about the pool, according to the suit. All the while, the suit says, Barclays assured its clients that it sent their buy-and-sell orders to trading venues that offered the best terms when it actually sent almost all orders to its own dark pool first.
The direct victims of the alleged fraud are mutual funds, pension funds and other institutional investors that used the Barclays dark pool, one of the largest of more than 40 such off-exchange venues in the United States. The indirect victims are everyone whose money is invested in those funds.
There is no reason to believe that this kind of wrongdoing is limited to Barclays. Off-exchange venues have mushroomed in the past several years along with high-frequency trading, a twin development that demands more scrutiny. Today, more than a third of equity trading in the United States and Europe is done outside the public exchanges, and most major banks run dark pools, including Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS.
The lawsuit against Barclays is the first detailed one of its kind, relying on subpoenaed documents, whistle-blowers and market research to describe a pattern and practice of premeditated and habitual deceit, with the aim of profiting at the expense of clients and the smaller investors those clients serve.
It would be a shock if other dark pool operators were as brazen as Barclays is accused of being. It would not come as a shock, however, to learn that trades in other dark pools are also executed in ways that best serve the interests of the pool operator rather than those of the clients.
In a financial system that is presumably built on the integrity of its public markets, banks should not be entitled to operate increasingly in the shadows, where even large and savvy clients can get mugged. Financial regulators need to force more order and transparency on the system, and to prosecute the wrongdoing that comes to light in the process. Mr. Schneiderman has shown the way, but he can’t do it alone.
The Dark Pool Iceberg
Lawsuit Against Barclays Shows Need for More Scrutiny
By THE EDITORIAL BOARD NY Times JUNE 28, 2014
Shareholders and brokerage houses ditched Barclays at the end of last week, and who could blame them? In addition to its involvement in serial financial scandals — including the manipulation of interest rates and gold prices — the bank now stands accused of fraud related to its “dark pool,” essentially a private stock exchange.
Generally operated by banks, dark pools are supposed to be a safe way for institutional investors to execute block trades without worrying that their transactions will move market prices before the deal is completed.
A scathing lawsuit filed on Wednesday by the New York State attorney general, Eric Schneiderman, claims that Barclays repeatedly lied to brokers about the extent of aggressive and predatory high-speed trading in the pool — activity that exposed investors to precisely the type of price distortions they were trying to avoid and that, not incidentally, enriched Barclays by increasing the number of transactions executed in the pool.
The lying took the form of private and public assurances by Barclays that investors in its pool were continually shielded from high-speed trading when, to the contrary, the bank actively sought to attract such traders to its venue and even bolstered their trading strategies by giving them privileged information about the pool, according to the suit. All the while, the suit says, Barclays assured its clients that it sent their buy-and-sell orders to trading venues that offered the best terms when it actually sent almost all orders to its own dark pool first.
The direct victims of the alleged fraud are mutual funds, pension funds and other institutional investors that used the Barclays dark pool, one of the largest of more than 40 such off-exchange venues in the United States. The indirect victims are everyone whose money is invested in those funds.
There is no reason to believe that this kind of wrongdoing is limited to Barclays. Off-exchange venues have mushroomed in the past several years along with high-frequency trading, a twin development that demands more scrutiny. Today, more than a third of equity trading in the United States and Europe is done outside the public exchanges, and most major banks run dark pools, including Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS.
The lawsuit against Barclays is the first detailed one of its kind, relying on subpoenaed documents, whistle-blowers and market research to describe a pattern and practice of premeditated and habitual deceit, with the aim of profiting at the expense of clients and the smaller investors those clients serve.
It would be a shock if other dark pool operators were as brazen as Barclays is accused of being. It would not come as a shock, however, to learn that trades in other dark pools are also executed in ways that best serve the interests of the pool operator rather than those of the clients.
In a financial system that is presumably built on the integrity of its public markets, banks should not be entitled to operate increasingly in the shadows, where even large and savvy clients can get mugged. Financial regulators need to force more order and transparency on the system, and to prosecute the wrongdoing that comes to light in the process. Mr. Schneiderman has shown the way, but he can’t do it alone.
some Nas Closing Cross info from them
NEW YORK , June 27, 2014 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced the NASDAQ Closing Cross was used for the eleventh consecutive year to rebalance NASDAQ-listed securities in the entire family of U.S. Russell indexes during their annual reconstitution. Approximately 810.6 million shares representing $17.9 billion were executed in the NASDAQ Closing Cross in 575 milliseconds across some 2,304 NASDAQ-listed stocks.
NASDAQ official closing prices (NOCPs) determined by the NASDAQ Closing Cross are widely used throughout the industry, by Russell Investments, Standard & Poor's , Dow Jones, and mutual funds across the country. The NASDAQ Closing Cross mechanism provides market participants with transparency and consistent prices with the dissemination of imbalances, indicative and likely clearing prices every five seconds via the Net Order Imbalance Indicator. NASDAQ OMX's INET technology platform processes accurate closing prices for the industry in microseconds.
" NASDAQ OMX takes pride in its performance engineering and the ability of our electronic trading platforms to handle large volumes and high velocity quickly and efficiently," said Tom Wittman , Executive Vice President and Head of Global Equities at NASDAQ OMX .
He added, "As the official platform for NASDAQ-listed stocks in the Russell reconstitution, the NASDAQ Closing Cross generated accurate closing prices during one of the heaviest trading sessions of the year."
The Closing Cross brings together the buy and sell interest in specific NASDAQ, NYSE and NYSE Amex stocks and executes all shares for each stock at a single price, one that reflects the true supply and demand for these securities. All nationally-listed securities are eligible for the NASDAQ Closing Cross.
The Russell U.S. Indexes include only common stocks incorporated in the U.S., its territories, and certain countries or regions offering U.S. companies operational, tax, political or other financial benefits. All Russell U.S. Indexes are subsets of the Russell 3000® Index, which represents approximately 98% of the U.S. equity market. Russell U.S. Indexes allow investors to track current and historical market performance by specific market segment (large cap/small cap) or investment style (growth/value/defensive/dynamic). Today, more than $5.2 trillion in assets are benchmarked to the Russell Indexes.
Russell reconstitution day is usually one of the most highly anticipated and heaviest trading days in the U.S. equity market as asset managers seek to reconfigure their portfolios to reflect the composition of Russell's U.S. indexes. The index reconstitution process was completed today and the newly reconstituted index membership will take effect before markets open on Monday, June 30, 2014 .
Please visit our website for more information on the NASDAQ Closing Cross.
About NASDAQ OMX :
NASDAQ OMX (Nasdaq:NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents. Through its diverse portfolio of solutions, NASDAQ OMX enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 70 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. NASDAQ OMX is home to more than 3,400 listed companies with a market value of over $8.5 trillion and more than 10,000 corporate clients. To learn more, visit www.nasdaqomx.com.
About Russell Investments:
Russell Investments ( Russell ) is a global asset manager and one of only a few firms that offers actively managed multi-asset portfolios and services that include advice, investments and implementation. Russell stands with institutional investors, financial advisors and individuals working with their advisors—using the firm's core capabilities that extend across capital market insights, manager research, portfolio construction, portfolio implementation and indexes to help each achieve their desired investment outcomes.
Russell has more than $259 billion in assets under management (as of 3/31/2014) and works with over 2,500 institutional clients, independent distribution partners and individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell has $2.4 trillion in assets under advisement (as of 6/30/2013). It has four decades of experience researching and selecting investment managers and meets annually with more than 2,200 managers around the world. Russell traded more than $1.6 trillion in 2013 through its implementation services business. Russell also calculates approximately 700,000 benchmarks daily covering 98% of the investable market globally, including more than 80 countries and more than 10,000 securities. Approximately $5.2 trillion in assets are benchmarked (as of 12/31/2013) to the Russell Indexes, which have provided investors with 30 years of smarter beta.
Headquartered in Seattle, Washington , Russell operates globally, including through its offices in Seattle , New York , London , Paris , Amsterdam , Sydney , Melbourne , Auckland , Singapore , Seoul , Tokyo , Beijing , Toronto , Chicago , San Diego , Milwaukee and Edinburgh . For more information about how Russell helps to improve financial security for people, visit www.russell.com or follow @Russell_News.
Russell Investment Group is a Washington, USA corporation, which operates through subsidiaries worldwide, including Russell Investments, and is a subsidiary of The Northwestern Mutual Life Insurance Company . Russell Investments is the owner of the trademarks, service marks and copyrights related to its respective indexes. Russell's indexes are unmanaged and cannot be invested in directly.
Cautionary Note Regarding Forward-Looking Statements
The matters described herein contain forward-looking statements that are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements about the NASDAQ Closing Cross. We caution that these statements are not guarantees of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements. Forward-looking statements involve a number of risks, uncertainties or other factors beyond NASDAQ OMX's control. These factors include, but are not limited to factors detailed in NASDAQ OMX's annual report on Form 10-K, and periodic reports filed with the U.S. Securities and Exchange Commission . We undertake no obligation to release any revisions to any forward-looking statements.
NDAQG
CONTACT: NASDAQ OMX Media Contacts:
Robert Madden
+1 646 441 5045
Robert.Madden@NASDAQOMX.com
Joseph Christinat
+1 646 441 5121
Joseph.Christinat@NASDAQOMX.com
Image: company logo
Source: The NASDAQ OMX Group, Inc.
Some small info on Win 8.1 Up2 / Threshold
http://www.neowin.net/news/lets-talk-about-windows-81-update-2-for-a-second
Let’s get the formalities out of the way, earlier today, WZor said that Windows 8.1 update 2 hit RTM and that it will be announced at the Microsoft partner conference in July (we will be at that event). That’s the simple of it but Microsoft's picture is now complex with update 2 in the pipeline along with Threshold.
After we saw the tweets go out, we asked around to see if anyone else was hearing that update 2 had hit RTM and the answer was mostly, “it’s close, but I don’t know if it hit RTM yet”.
Unlike large milestones like Windows 8.1, RTM is not something publicized for update 2, so don’t expect to see a formal announcement by Microsoft until the update is announced.
We are hearing that update 2 is well on its way to RTM and this comes from a trusted source that has provided solid content in the past. Has it hit RTM? We aren’t so sure that today was the chosen day but it should be very, very soon.
Considering that we still believe that an August release of the update in on target, a mid July announcement does make sense from a timing perspective.
One thing that you need to keep in mind is there is a lot of Threshold, and Update 2 information coming down the pipe, with the wires frequently getting crossed. When you toss in ‘Is Threshold part of Windows 9 or is it seperate?” into the equation, the channels become a bit more muddy, so take any information with various bits of salt.
We have quite a bit of more information about Microsoft’s plans for ‘Threshold’ but are still working to verify them, such as the significant updates coming to the desktop.
While Wzor has been off in the past, this information has enough credibility to it, after we poked the fire a few times, it is time to get excited.
Source: Wzor
Win 8.1 x64 Update 1 from 7
Had 7 x64 for while. Waited nearly year to go 8 & 8.1 and happy enough with move. Seems to use extra ram fine under x64, less crashes (none lately), fast boot.
Main barf might be that IE 11 hard wired in. Some sites aren't configured for it yet and won't load but main ones ok. Sometimes the videos at those problem sites failed to run but finding they finally do. Install Chrome just for the ones that may need a specific loading.
No idea what they'll do under Up 2 when released. Right now can boot straight to desktop like before. Things like Skype run well as do some of the non desktop things. I'd go for it with a little time set aside for learn curve.
Have decent ram, cpu, maybe a large second drive or good size SSD main drive. Their Outlook.com & onedrive are good and all the tools like Lastpass work right. g/l
UK consumer confidence up on high but mixed
GL w/ the gear, pain in butt I know. MS had rumor of 3gb Update 2 for Win 8.1 around late Aug or Sep. Such fun. Probably reboot couple times during it making process worse than set & forget.
Noticed Nasdaq guy on PBS covering butt over BABA WAWA tonight. Seems Nas had just finishing a pump job about how they had plans regarding Alibaba's move should they get it which he was large on.
Good timing... Still he pushed getting GPRO out the door.
----------
LONDON --British consumers were the most confident they've been in over nine years in June, a survey showed Friday, with expectations for the economy providing the biggest boost to their outlook.
The monthly GfK consumer confidence index rose to +1 in June, in line with expectations and up from 0 in May. It is the first time the index has been positive since March 2005 , when it was also at +1. The last time the index was higher was in November 2002 when it reached +2, the data showed.
"An unspectacular change this month, but a psychologically important one, in that the index has moved into positive territory for the first time since March 2005 ," said Nick Moon , managing director of social research at GfK.
"The next few months will be particularly interesting, since the previous venture into positive territory was merely transitory--two isolated months in January and March 2005 . The last time the index was consistently positive was back in 2002 and this must be the next target from the government's point of view as we get close to the election period," Mr. Moon said.
Details show that consumers were most optimistic about the economy in the next 12 months, while their 12-month outlook on their own financial situation was less positive in June than in May.
That is in line with the broad economic recovery, with output, demand and employment all recovering, but the slow level of earnings growth, which is close to, but still below the rate of inflation, likely keeping a lid on optimism over personal finances.
Indeed, the survey also shows that while appetite for major purchases, such as a new car or home, improved again in June, it still remains in negative territory at -2.
Write to Ilona Billington at ilona.billington@wsj.com
(END) Dow Jones Newswires
06-26-14 1905ET
Copyright (c) 2014 Dow Jones & Company, Inc.
UK consumer confidence up on high but mixed
LONDON --British consumers were the most confident they've been in over nine years in June, a survey showed Friday, with expectations for the economy providing the biggest boost to their outlook.
The monthly GfK consumer confidence index rose to +1 in June, in line with expectations and up from 0 in May. It is the first time the index has been positive since March 2005 , when it was also at +1. The last time the index was higher was in November 2002 when it reached +2, the data showed.
"An unspectacular change this month, but a psychologically important one, in that the index has moved into positive territory for the first time since March 2005 ," said Nick Moon , managing director of social research at GfK.
"The next few months will be particularly interesting, since the previous venture into positive territory was merely transitory--two isolated months in January and March 2005 . The last time the index was consistently positive was back in 2002 and this must be the next target from the government's point of view as we get close to the election period," Mr. Moon said.
Details show that consumers were most optimistic about the economy in the next 12 months, while their 12-month outlook on their own financial situation was less positive in June than in May.
That is in line with the broad economic recovery, with output, demand and employment all recovering, but the slow level of earnings growth, which is close to, but still below the rate of inflation, likely keeping a lid on optimism over personal finances.
Indeed, the survey also shows that while appetite for major purchases, such as a new car or home, improved again in June, it still remains in negative territory at -2.
Write to Ilona Billington at ilona.billington@wsj.com
(END) Dow Jones Newswires
06-26-14 1905ET
Copyright (c) 2014 Dow Jones & Company, Inc.
Alibaba to NYSE as BABA
China's Alibaba plans to list NYSE, as BABA, dealing a blow to rival Nasdaq. cnbc 1pm et
new H L
New Highs 37
COMPANY SYMBOL HIGH VOLUME
------- ------ ---- ------
ASB Bancorp ASBB 20.50 1,200
Amphastar Pharmaceuticals AMPH 11.07 1,191,105
BancFirst BANF 62.90 8,339
Blackhawk Ntwk Hldgs Cl B HAWKB 27.21 301,456
CDW Corp. CDW 32.41 230,400
Covenant Transport Cl A CVTI 12.96 5,309
First Tr Managed Mun ETF FMB 50.20 1,622
Garnero Group Acqn Un GGACU 10.05 1,043,200
GoPro Inc. GPRO 33.00 35,131,800
Insight Enterprises NSIT 29.76 76,126
Ironwood Pharm Inc IRWD 15.50 436,926
JetBlue Airways JBLU 10.75 2,498,765
MakeMyTrip MMYT 34.57 230,302
Marlin Midstream Partners FISH 20.46 13,160
Mobile Mini MINI 48.98 84,081
Omeros Corp OMER 17.79 291,940
Pain Therapeutics PTIE 6.22 354,138
Pernix Therapeutics Hldgs PTX 9.23 518,357
Prudential Bancorp PBIP 11.50 4,192
Remark Media Inc MARK 9.11 58,013
Repligen RGEN 22.94 356,094
Sequential Brands Group SQBG 14.48 129,399
Shire PLC SHPG 233.00 396,156
Silicon Motion Tech ADS SIMO 19.23 239,465
Sirona Dental Systems SIRO 81.82 138,059
Sonic SONC 23.74 302,332
Summit State Bank SSBI 13.65 23,789
Synergy Pharms Wt SGYPW 4.44 3,201
TCP Capital TCPC 18.19 226,808
TFS Fincl TFSL 14.21 79,950
Tarena Intl Inc. ADS TEDU 14.23 677,537
Taylor Cap 8% Perp Pfd A TAYCO 28.50 18,769
Utd Community Bancorp UCBA 11.99 1,823
Vanguard Natural Rscs VNR 32.00 126,467
Vanguard Total Intl Bd BNDX 51.43 75,915
VS Inverse VIX MedTerm ZIV 45.94 19,960
Warren Resources WRES 5.73 541,282
New Lows 22
COMPANY SYMBOL LOW VOLUME
------- ------ ---- ------
ALCO Stores Inc. ALCS 7.02 2,271
Beasley Broadcast Cl A BBGI 5.31 4,911
bebe stores BEBE 3.07 230,206
Bed Bath & Beyond BBBY 54.95 13,277,840
Discovery Comm B DISCB 72.66 1,136
Diversified Restaurant BAGR 3.92 18,627
Education Management EDMC 1.63 99,598
Elizabeth Arden RDEN 22.00 1,863,093
FreeSeas FREE 0.56 1,433,439
Full House Resorts FLL 1.22 44,931
Gordmans Stores GMAN 3.98 124,370
Hardinge HDNG 11.33 28,488
Image Sensing Sys ISNS 3.52 2,200
iSh MSCI Qatar Capped QAT 22.44 12,945
Kamada Ltd. KMDA 7.02 20,148
Kelly Services Cl A KELYA 17.05 54,614
MobileIron Inc. MOBL 8.89 540,446
Natl Bankshares NKSH 30.57 925
SP Plus Corp. SP 20.50 13,714
Signal Genetics Inc. SGNL 7.10 6,486
Staples SPLS 10.70 5,320,229
Tecumseh Products Co. TECU 4.50 19,486
s-Split or stock dividend of 10 percent or more in the past 52 weeks.
n-New issue in past 52 weeks and does not cover the entire 52 week period.
Source: WSJ Market Data Group
(END) Dow Jones Newswires
06-26-14 1321ET
Copyright (c) 2014 Dow Jones & Company, Inc.
new H & L BBBY hit
BBBY misses off ah
New Highs 46
COMPANY SYMBOL HIGH VOLUME
------- ------ ---- ------
Aerie Pharmaceuticals AERI 29.71 4,782,211
Akorn AKRX 31.65 1,558,869
Alpha & Omega Semicndtr AOSL 9.30 128,287
Amer Cap Agency Dep Pfd B AGNCB 24.97 96,009
Amphastar Pharmaceuticals AMPH 8.30 3,953,505
Atrion ATRI 325.50 1,353
Blackhawk Ntwk Hldgs Cl B HAWKB 26.45 344,891
Celgene CELG 174.74 2,543,785
Core-Mark Holding CORE 93.46 28,622
Diversicare Hlthcr Svcs DVCR 8.25 12,866
Equinix EQIX 211.86 478,116
Exactech EXAC 25.45 68,390
General Finance Sr Nt 21 GFNSL 26.93 43,780
Golar LNG GLNG 60.39 6,761,573
Hologic HOLX 26.18 2,596,721
Hub Group Cl A HUBG 50.63 235,819
Impax Labs Inc IPXL 30.74 537,602
Insight Enterprises NSIT 29.47 240,739
Intel INTC 31.00 33,042,532
MakeMyTrip MMYT 34.35 395,507
Medical Action Industries MDCI 13.73 9,113,122
Memorial Resource Devt MRD 25.90 1,298,665
Microsoft MSFT 42.05 14,162,454
Mobile Mini MINI 48.77 137,678
NetScout Systems NTCT 43.65 175,355
Old Sec Cap Tr I 7.8% pfd OSBCP 13.58 10,420
Omeros Corp OMER 17.72 1,060,068
Pain Therapeutics PTIE 5.95 275,481
PrimeEnergy PNRG 63.95 454
Quinpario Acquisition Wt QPACW 1.15 76,393
Remark Media Inc MARK 7.97 22,952
Repligen RGEN 22.21 299,119
Sagent Pharmaceuticals SGNT 26.23 451,738
Sequential Brands Group SQBG 13.95 448,361
Shire PLC SHPG 231.48 1,046,174
Sigma-Aldrich SIAL 101.91 374,326
Summit State Bank SSBI 12.51 43,469
TFS Fincl TFSL 14.15 163,726
Tarena Intl Inc. ADS TEDU 13.38 958,611
Taylor Cap 8% Perp Pfd A TAYCO 28.10 8,890
Vanguard Natural Rscs VNR 31.98 330,868
Vanguard Total Intl Bd BNDX 51.41 148,099
VS Inverse VIX MedTerm ZIV 45.73 29,149
Warren Resources WRES 5.65 1,095,866
Westbury Bancorp Inc. WBB 15.23 11,173
Xunlei Ltd. ADS XNET 16.18 3,414,958
New Lows 29
COMPANY SYMBOL LOW VOLUME
------- ------ ---- ------
ALCO Stores Inc. ALCS 7.03 11,762
Amphastar Pharmaceuticals AMPH 6.67 3,953,505
Aquasition Corp. Wt AQUUW 0.15 21,100
bebe stores BEBE 3.20 323,873
CA First National Bncp CFNB 13.91 8,597
China HGS Real Estate HGSH 2.64 26,102
Diversified Restaurant BAGR 3.95 67,790
DreamWorksAnimation DWA 22.36 1,200,961
First Mid-Illinois Bcsh FMBH 19.05 1,037
FreeSeas FREE 0.68 851,066
Full House Resorts FLL 1.26 122,898
Gordmans Stores GMAN 4.03 125,589
Hardinge HDNG 11.40 92,045
Image Sensing Sys ISNS 3.54 21,937
iSh MSCI Qatar Capped QAT 23.03 1,900
Kamada Ltd. KMDA 7.05 28,904
MEI Pharma Inc. MEIP 5.51 367,001
Materialise N.V. ADS MTLS 11.06 5,676,899
MoSys MOSY 2.80 326,367
National Amer University NAUH 3.11 21,424
Natl Bankshares NKSH 30.75 10,948
Net Element Inc. NETE 1.51 41,396
QKL Stores Inc QKLS 3.02 6,307
SeaChange Intl SEAC 7.65 219,717
Spartan Motors SPAR 4.59 273,073
Sport Chalet B SPCHB 1.04 2,439
Trans World Entertainment TWMC 3.15 95,138
Ultratech UTEK 20.28 1,201,186
Westell Technologies Cl A WSTL 2.21 253,146
s-Split or stock dividend of 10 percent or more in the past 52 weeks.
n-New issue in past 52 weeks and does not cover the entire 52 week period.
Source: WSJ Market Data Group
(END) Dow Jones Newswires
06-25-14 1621ET
Copyright (c) 2014 Dow Jones & Company, Inc.
New Highs 25 Lows 24
COMPANY SYMBOL HIGH VOLUME
------- ------ ---- ------
Aerie Pharmaceuticals AERI 29.71 3,615,645
Akorn AKRX 31.65 431,611
Amer Cap Agency Dep Pfd B AGNCB 24.97 39,259
Amphastar Pharmaceuticals AMPH 7.77 2,721,712
Atrion ATRI 325.50 1,163
Celgene CELG 174.74 1,266,515
Diversicare Hlthcr Svcs DVCR 8.25 5,054
Equinix EQIX 211.86 233,623
General Finance Sr Nt 21 GFNSL 26.93 20,650
Golar LNG GLNG 58.90 4,680,064
Hologic HOLX 26.18 1,606,952
Impax Labs Inc IPXL 30.71 148,654
Medical Action Industries MDCI 13.73 6,495,164
Old Sec Cap Tr I 7.8% pfd OSBCP 13.58 9,245
Omeros Corp OMER 17.50 569,512
Pain Therapeutics PTIE 5.95 141,779
Quinpario Acquisition Wt QPACW 1.10 47,193
Sagent Pharmaceuticals SGNT 26.23 174,235
Sequential Brands Group SQBG 13.95 306,633
Shire PLC SHPG 231.17 762,722
Taylor Cap 8% Perp Pfd A TAYCO 28.00 4,655
Vanguard Natural Rscs VNR 31.87 147,057
Vanguard Total Intl Bd BNDX 51.41 65,957
Westbury Bancorp Inc. WBB 15.23 7,371
Xunlei Ltd. ADS XNET 16.18 2,629,179
New Lows 24
COMPANY SYMBOL LOW VOLUME
------- ------ ---- ------
ALCO Stores Inc. ALCS 7.08 7,940
Amphastar Pharmaceuticals AMPH 6.67 2,721,712
Aquasition Corp. Wt AQUUW 0.15 17,100
bebe stores BEBE 3.20 198,127
CA First National Bncp CFNB 13.91 3,591
China HGS Real Estate HGSH 2.64 17,868
Diversified Restaurant BAGR 3.95 23,777
DreamWorksAnimation DWA 22.36 505,293
First Mid-Illinois Bcsh FMBH 19.05 1,036
Full House Resorts FLL 1.27 45,027
Gordmans Stores GMAN 4.03 71,042
Hardinge HDNG 11.40 29,320
iSh MSCI Qatar Capped QAT 23.03 750
Kamada Ltd. KMDA 7.05 17,456
MEI Pharma Inc. MEIP 5.51 192,426
Materialise N.V. ADS MTLS 11.06 4,630,451
MoSys MOSY 2.80 112,069
Natl Bankshares NKSH 30.75 7,338
SeaChange Intl SEAC 7.65 138,189
Spartan Motors SPAR 4.59 121,081
Sport Chalet B SPCHB 1.04 725
Trans World Entertainment TWMC 3.15 36,828
Ultratech UTEK 20.28 210,101
Westell Technologies Cl A WSTL 2.21 96,976
s-Split or stock dividend of 10 percent or more in the past 52 weeks.
n-New issue in past 52 weeks and does not cover the entire 52 week period.
Source: WSJ Market Data Group
(END) Dow Jones Newswires
06-25-14 1219ET
Copyright (c) 2014 Dow Jones & Company, Inc.
AM Movers
Medical Action Industries (NASDAQ: MDCI) surged 93.92% to $13.71 after Owens & Minor (NYSE: OMI) announced its plans to buy Medical Action Industries for $13.80 per share in cash.
Aerie Pharmaceuticals (NASDAQ: AERI) climbed 33.90% to $28.16 following the announcement that Roclatan phase 2b results have met all clinical endpoints.
Sequential Brands Group (NASDAQ: SQBG) gained 19.64% to $13.95 after the company announced its plans to buy Galaxy Brand Holdings for about $260.3 million .
Nanosphere (NASDAQ: NSPH) surged 14.08% to $1.62 after the company reported that it has received the FDA 510(k) clearance for bacterial part of Verigene(R) Test.
Hanesbrands (NYSE: HBI) soared 9.31% to $96.78 after the company announced its plans to buy France's DBApparel.
Barnes & Noble (NYSE: BKS) shares jumped 6.61% to $21.92 after the company reported a narrower fourth-quarter loss and announced its plans to split its retail and Nook Media businesses.
Atossa Genetics (NASDAQ: ATOS) gained 5.88% to $1.62 after the company received quality registration certificates ISO 13485:2003; EN ISO 13485:2012 and AC:2012 (Canadian); and ISO 9001:2008.
Monsanto Company (NYSE: MON) gained 4.93% to $126.58 after the company reported upbeat fiscal third-quarter profit and lifted its full-year forecast. The company also announced a $10 billion share buyback program.
INSYS Therapeutics (NASDAQ: INSY) rose 3.52% to $30.03 after the company confirmed receiving orphan drug designation for its pharmaceutical cannabidiol for epilepsy.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
HRTX down on offer $11.75
09:21 AM EDT, 06/25/2014 (MT Newswires) -- Heron Therapeutics (HRTX) shares fell in Wednesday's pre-market session, after the pharmaceutical company priced an offering of 4.5 million shares of common stock at $11.75 per share, an 8% discount to the stock's Tuesday closing price.
Heron Therapeutics also granted the underwriters a 30-day option to purchase up to an additional 675,000 shares of common stock.
Also, in lieu of common stock Heron Therapeutics is offering to certain existing large investors pre-funded warrants to purchase up to an aggregate of 600,000 shares of common stock at $11.74 per warrant, which represents the per-share offering price for the common stock less the $0.01 per share exercise price for each such pre-funded warrant.
Gross proceeds will be approximately $60 million. The company intends to use net proceeds for general corporate purposes, funding ongoing and future clinical trials and for general and administrative expenses. The offering is expected to close on or about June 30.
HRTX was down 10% at $11.45 in recent pre-market trading, in a 52-week range of $6.40 to $15.82.
Price: 11.49, Change: -1.28, Percent Change: -10.02
http://www.mtnewswires.com © 2014 MT Newswires, a Division of MidnightTrader, Inc. All rights reserved.
DEJ gets short extension
Close 0.20
No trades but the ask is flashing .2114 then .2358
Sometimes these have a little pop run but generally such a short term extension raises doubts. Takes R/S to get to $1 in short time unless they buy with both hands. OS 167M and two small R/S.
16:30 ET
VANCOUVER, British Columbia--(BUSINESS WIRE)--
Dejour Energy Inc. (NYSE MKT:DEJ / TSX:DEJ), an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, reported today the NYSE MKT (“the Exchange”), in a letter dated June 18, 2014, confirmed the Company has resolved the continued listing deficiencies with respect to Sections 1003(a)(ii) and (iii) of the NYSE MKT Company Guide (“the Company Guide”) regarding minimum stockholders’ equity.
The Exchange also confirmed that the Company has made a reasonable demonstration of its ability to regain compliance with Section 1003(a) (IV) of the Company Guide which addresses a listing Company’s ability to continue operations and/or meet its obligations as they occur. The Exchange has granted the Company until July 15, 2014 to submit an updated “Plan of Compliance” addressing Section 1003(a)(iv). The Company’s original “Plan of Compliance” was submitted on December 23, 2013 and accepted by the Exchange on January 27, 2014. In that letter, the Exchange granted the Company an extension to regain compliance with Section 1003(a)(iv) until April 4, 2014 and, by letter dated April 17, 2014, an additional extension was granted to June 6, 2014. Failure to make progress consistent with the “Plan of Compliance” or to regain compliance with the continued listing standards by the end of the applicable extension periods could result in the Company’s shares being delisted from the Exchange.
The Company is diligent in its effort to ensure compliance with Exchange requirements within the period granted. Approval has been given to continue its listing pursuant to the extension to allow the Company to conclude these efforts, subject to periodic review by the Exchange.
About Dejour Energy Inc.
Dejour Energy Inc. is an independent oil and natural gas exploration and production company operating projects in North America’s Piceance Basin (56,500 net acres) and Peace River Arch regions (17,000 net acres). Dejour maintains offices in Denver, USA, Calgary and Vancouver, Canada. The company is publicly traded on the New York Stock Exchange Amex (NYSE MKT:DEJ) and Toronto Stock Exchange (DEJ.TO).
Oil spike 106 to 107.5 ah Senator comment
18:16 et jumped, now 107.07 +1.04
* Oil Higher After Sen Murkowski Urges Obama To Lift Ban on Crude Exports
/ES, France, API
There was also the mid afternoon news WSJ about Syrian planes hit Iraq with est 50 dead & some buildings hit.
Yes eod the /ES 15:55 had a large red vol spike. Knocked down the usual window dressing.
16:36 News Bot: French growth to fall short of government forecast, according to INSEE
Says:
- French FY 2014 GDP growth at 0.7% vs government forecasts of 1.0%.
- French GDP estimated at 0.3% Q/Q in Q2, Q3 and Q4.
- French Finance Ministry says maintains 2014 growth forecasts.
(RTRS)
16:36 News Bot: RANsquawk - Today's Trading Edge
16:36 News Bot: US EQUITY WRAP: US stocks reverse earlier gains to finish lower, as reports that Ukrainian President was considering ending the Ukraine/Russia ceasefire before Friday’s deadline, overshadowed positive US data
US stocks reversed earlier gains to finish lower, as reports that Ukrainian President was considering ending the Ukraine/Russia ceasefire before Friday’s deadline, overshadowed positive US data. Following the Wall Street open, equities rallied after both US Consumer Confidence Index (highest reading since January 2008) and New Home Sales (6yr high) trumped expectations, which saw the S&P 500 post a fresh record high at 1951.17.
In individual stock news, Vertex shares rallied over 40% conversely supporting the biotech index, after a combination of the Co.’s two drugs met a primary endpoint. Elsewhere, Micron shares gained over 4% after the Co.’s earnings report topped forecasts. Home builders also rallied supported by the better than expected US New Home Sale data.
However, in the latter part of the session, US equities fell, as all the 3 major indices turned negative amid touted profit taking, as the VIX index enjoyed its best session since April 7th, surging over 10%. Focus was also on comments from Ukrainian President who said the Ukraine/Russia ceasefire may end before Friday’s deadline over rebel attacks.
(RANsquawk)
16:36 News Bot: API Crude Oil Inventories (June 20) W/W 4000k vs. Exp. -1600K (Prev. -5700k)
- API Cushing Crude Oil Inventories (June 20) W/W 424k vs. Prev. 255k
- API Gasoline Inventories (June 20) W/W 2200k vs. Prev. -48k
- API Distillate Inventories (June 20) W/W -253K vs. Prev. 531k
(RTRS)
US top court adds limit to securities class actions
Mon, Jun 23 2014 5pm
By Lawrence Hurley and Jonathan Stempel
WASHINGTON (Reuters) - The U.S. Supreme Court on Monday made it harder for investors to band together to pursue securities fraud lawsuits against publicly traded companies, but stopped short of issuing a decision that could have effectively ended such litigation.
In a majority decision by Chief Justice John Roberts, the court agreed with Halliburton Co HAL.N that companies accused of misleading investors deserved a chance, before a class action is certified, to show that any alleged misrepresentation had no impact on the stock price.
Companies were previously allowed to make such showings after class certification, an event that often leads to settlements because the risk of large damage awards is greater. See FACTBOX (Full Story)
But the court refused to overturn a landmark 1988 precedent, Basic v. Levinson, that gave rise to the modern securities class action industry, and by a 6-3 vote left that precedent intact. See Q&A (Full Story)
The vote in favor of Halliburton was unanimous.
Supporters and critics said Monday's middle-of-the-road decision imposes a new hurdle for securities fraud plaintiffs and their lawyers, but one they will often be able to overcome.
Justice Ruth Bader Ginsburg, in a concurring opinion, said this "should impose no heavy toll on securities-fraud plaintiffs with tenable claims."
Aaron Streett, a lawyer for Halliburton who argued for broader limits, in an interview said: "It's a significant win for defendants in restoring balance."
David Boies, a lawyer for the Erica P. John Fund Inc, whose 2002 lawsuit prompted the case, said in a separate interview: "This could turn out to be a 'be careful what you ask for' ruling for defendants."
FRAUD ON MARKET "ALIVE AND WELL"
The decision follows recent Supreme Court rulings that have made it harder for investors, consumers and workers to pursue class actions.
It could also prompt companies that already face certified securities class actions, such as drug makers Merck & Co MRK.N and Pfizer Inc PFE.N and British bank HSBC Holdings Plc HSBA.L, to demand that plaintiffs meet the new standard. Those companies had no comment or declined to comment.
Close to 200 U.S. shareholder class actions are filed each year. Sixty-seven settlements worth $4.77 billion won court approval in 2013, according to Cornerstone Research.
In Basic, the Supreme Court said investors could rely on a "fraud on the market" presumption that all public information about a company was reflected in its stock price, mirroring a view by many economists that markets are "efficient."
The presumption meant that investors need not show they had relied on specific misrepresentations when buying securities, only that they bought the securities before the truth came out.
Roberts rejected Halliburton's contention that investors must always prove direct reliance on misrepresentations.
He also said the Houston-based oilfield services company failed to show a "special justification" to overturn Basic, whether because of subsequent changes in economic theory or a lack of Congressional intent.
Roberts said the principle of "stare decisis," or letting prior decisions stand, had "special force" when interpreting statutes such as federal securities laws, and that "Congress remains free to alter what we have done."
John Donovan, a partner at Ropes & Gray, said the decision
adds a "modest, additional argument to a defendant's arsenal," and could prompt more cases targeting companies with smaller market capitalizations, where it may be easier to show the price impact of particular disclosures.
"Fraud on the market is alive and well," he said. "The business community gets a modest victory, but it took a home run swing and got only a single."
THOMAS REJECTS BASIC
Justice Clarence Thomas, joined by Justices Antonin Scalia and Samuel Alito, agreed with the bottom-line holding for Halliburton, but said Basic should have been overruled.
"Basic took an implied cause of action and grafted on a policy-driven presumption of reliance based on nascent economic theory and personal intuitions about investment behavior," he wrote. "The result was an unrecognizably broad cause of action ready made for class certification."
In its lawsuit, the Erica P. John Fund had accused Halliburton of misleading investors by understating asbestos liabilities, overstating construction and engineering revenue, and inflating the benefits of a merger with Dresser Industries.
Monday's decision returns the Halliburton case to lower courts to give the company a chance to meet the new standard.
The case is Halliburton v. Erica P. John Fund, U.S. Supreme Court, No. 13-317.
(Reporting by Lawrence Hurley in Washington and Jonathan Stempel in New York; Additional reporting by Bill Berkrot, Alison Frankel and David Ingram; Editing by Howard Goller, Bernard Orr))
CX action, block trade
Not yet running, just up from 13.21 or so.
* 900K Share Block Trade in Cemex @$13.26 at 11:46 AM ET
A few 52 wk lows 10:29 am
SodaStream International (NASDAQ: SODA) shares reached a new 52-week low of $34.55 . SodaStream's trailing-twelve-month profit margin is 5.63%.
Kamada (NASDAQ: KMDA) shares touched a new 52-week low of $7.09 . Kamada shares have dropped 32.59% over the past 52 weeks, while the S&P 500 index has gained 24.76% in the same period.
Hercules Offshore (NASDAQ: HERO) shares fell 2.22% to reach a new 52-week low of $3.96 . Hercules Offshore's PEG ratio is 4.20.
EnerJex Resources (NYSE: ENRJ) shares touched a new 52-week low of $7.27 . EnerJex's CEO, Robert Watson, Jr. , will present at the GHS 100 Energy Conference at the JW Marriott Hotel in Chicago, IL on June 25, 2014 .
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Baltic -2.1% & early loss gainers
* Baltic Dry Index Down 2.1% to 867
8:07 am et
Walgreen Co (NYSE: WAG) fell 2.35% to $72.00 in pre-market trading after the company reported weaker-than-expected fiscal third-quarter earnings.
Shire plc (NASDAQ: SHPG) shares declined 2.04% to $222.76 in pre-market trading following New York Times' DealBook headline that the company has hired Goldman Sachs as an advisor.
BlackBerry (NASDAQ: BBRY) dipped 1.48% to $9.97 in pre-market trading after gaining 3.16% on Monday.
Dean Foods Company (NYSE: DF) dropped 0.91% to $17.39 in pre-market trading after Dow Jones reported that the company has received Federal subpoena regarding trades involving Carl Icahn , William Walters , Phil Mickeloson.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Vertex Pharmaceuticals (NASDAQ: VRTX) shares gained 52.90% to $101.85 in pre-market trading after the company reported that primary endpoint was met for lumacaftor study.
xG Technology (NASDAQ: XGTI) shares jumped 50.54% to $2.80 in pre-market trading on the $497 million army contract.
Wix.com (NASDAQ: WIX) shares jumped 5.63% to $18.77 in pre-market trading after the company announced that it had surpassed 50 million registered users worldwide.
Dendreon (NASDAQ: DNDN) shares gained 3.47% to $2.09 in pre-market trading after falling 0.98% on Monday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Your next Applebee’s or Chili’s waiter may be an Android tablet
Funny, as typing CNBC was mentioning the price % gains by Buffalo Wild Wings - see end below.
Also some bars have played with this for a while. Last week Crain's had NYC finance wages down 8.4% & Trade -8.8%.
The average weekly private-sector wage in Manhattan fell 4.1% in 2013, according to a report released Thursday by the U.S. Labor Department, the steepest decline among the 10 largest counties in the country ranked by the number of jobs. Overall wages dropped by 3.3%, again the worst performance.
----------------
Read more: http://www.digitaltrends.com/mobile/next-waiter-may-android-tablet/#ixzz35V5FFWtG
It’s the Industrial Revolution all over again. This time, the casualties may be the people who take your order and feign laughter at your corny jokes.
Several chain restaurants are embracing the use of tablets, which may make jobs in the food service industry as obsolete as blacksmiths and cobblers. This month, Chili’s rolled out tabletop tablets that allow customers to order food and pay their bills without a waiter. The tablets can also be used to play games- for an extra fee- while you wait for your order of fajitas.
Chili’s claims that its tablet rollout makes it the largest in the United States. In a press release, the company announced that it installed 45,000 tablets in 823 of its restaurants.
“This rollout marks the first time a restaurant company has installed communal tablets at this scale, and we were able to complete it two months ahead of schedule, bringing up to 6,600 tablets online per day,” said Austen Mulinder, the CEO of Ziosk, the company that manufactures the tablets.
Aside from outsourcing food service to technological advancement, Chili’s is also automating food preparation. According to the New York Times, the company has installed computerized ovens that use infrared technology and conveyor belts in each of its 1,200 restaurants.
The 7-inch tablets run on Android. Aside from taking orders, the tablet allows users to take photos and upload the image to social networks like Facebook. The device can also read coupons and ask customers for feedback based on their orders.
Chili’s is one of the newest restaurants to use tabletop tablets. And more are expected to adopt the technology. Last March, Buffalo Wild Wings announced that all of its restaurants in the U.S. will have seven-inch Samsung Galaxy tablets “by the end of 2015.”
SHPG yes amazing. Ex-divy list June 25
Stocks Ex-Dividend June 25 5:04 pm et
Company Symbol Yield(%) Amount
Alto Palermo SA APSA 8.8 0.93618
AmeriServ Finl pfd. ASRVP 8.0 0.52813
Aviv REIT Inc. AVIV 5.0 0.36
Axiall Corp. AXLL 1.4 0.16
BANCO BRADESCO BBD 7.3 0.0928
Banco Bradesco ADS BBDO 6.4 0.08436
Birner Dental Mgmt BDMS 4.9 0.22
Black Box BBOX 1.8 0.10
Canadian Pacific Railway CP 0.7 0.31713
Cdn Imperial Bank Of Comm CM 4.0 0.92091
Children's Place Inc. PLCE 1.0 0.1325
Chubb Corp CB 2.1 0.50
CTS Corp CTS 0.9 0.04
CyrusOne Inc. CONE 3.4 0.21
Danaher Corp DHR 0.5 0.10
Dentsply Intl XRAY 0.6 0.06625
Deutsche Bk Cont Cap Tr V DKT 7.0 0.50313
Equity Lifestyle Prprts ELS 2.9 0.325
Fifth Third Bncp Pfd I FITBI 6.1 0.41406
First Midwest Bancorp FMBI 1.9 0.08
First Pfd Cap Tr IV Secs FBSpA 8.2 0.50938
Flowserve Corp FLS 0.8 0.16
Glen Burnie Bancorp GLBZ 3.2 0.10
Hannon Armstrong HASI 6.1 0.22
Healthcare Tr of America HTA 4.7 0.14375
HECO Cp Tr III 6.5% QUIPS HEpU 6.1 0.40625
Intl Game Tech IGT 2.7 0.11
Invesco Mortgage Cap IVR 11.3 0.50
Jacksonville Bancorp JXSB 1.5 0.08
MerLyn 7% TOPrS pfd. MERpD 6.7 0.4375
MerLyn Tr IV 7.12% TOPrS MERpE 6.8 0.445
Merrill Lynch 7.28% TOPrS MERpF 6.9 0.455
MFA Finl MFA 9.6 0.20
New Residential Invt NRZ 10.8 0.075
New Residential Invt NRZ 10.8 0.175
PLC Cap Tr V 6.125% TOPrS PLpB 6.1 0.38281
ProAssurance PRA 2.7 0.30
Ralph Lauren Cl A RL 1.2 0.45
RBS Capital V 5.9% Pfd. RBSpE 6.1 0.36875
RBS Capital VI 6.25% Pfd. RBSpI 6.5 0.39063
RBS Capital VII 6.08% Pfd RBSpG 6.3 0.38
Red Lion Hotels Cap Tr RLHpA 9.1 0.59375
Regal-Beloit RBC 1.1 0.22
Retail Prop of America RPAI 4.3 0.16563
River Valley Bancorp RIVR 3.8 0.23
Ryman Hospitality Prop RHP 4.6 0.55
Stantec STN 1.1 0.1698
Staples SPLS 4.3 0.12
TAYC Cp Tr I 9.75% pfd TAYCP 9.2 0.60938
Templeton Emerging TEI 5.8 0.20
Toro Co TTC 1.3 0.20
Towne Bank TOWN 2.7 0.11
Valmont Indus VMI 0.9 0.375
Western Digital WDC 1.7 0.40
Zimmer Holdings ZMH 0.8 0.22
Source: SIX Financial Information
New Highs 97 New Lows 20 PRKR
Note ParkerVision today's ruling. 1.89 -3.11 now
Day low was fast 1.30
COMPANY SYMBOL HIGH VOLUME
------- ------ ---- ------
Abraxas Pete AXAS 5.95 4,514,370
Accelerate Diagnostics AXDX 30.50 264,588
Aemetis AMTX 11.20 184,080
Agile Therapeutics Inc. AGRX 12.55 1,532,438
Akorn AKRX 30.48 741,146
Alpha & Omega Semicndtr AOSL 9.19 44,154
American Airlines Group AAL 44.88 13,887,915
Applied Materials AMAT 22.99 16,172,582
BGC Partners Cl A BGCP 7.57 650,107
BreitBurn Energy Partners BBEP 22.23 687,705
BreitBurn 8.25% Pfd A BBEPP 25.30 62,543
Buffalo Wild Wings BWLD 166.24 842,927
CDW Corp. CDW 32.28 442,037
CU Bancorp CUNB 19.50 10,731
Cadence Design Systems CDNS 17.43 2,661,220
Carrizo Oil & Gas CRZO 69.15 610,514
Central Garden & Pet Co CENT 10.01 1,200,378
Central Garden & Pet A CENTA 10.11 751,470
Century Aluminum Co CENX 15.82 241,440
Charter Communications CHTR 154.63 701,711
China Biologic Prod CBPO 50.00 82,812
Commercial Vehicle Group CVGI 10.45 386,217
comScore SCOR 36.13 72,357
Consolidated Comm Hldgs CNSL 21.69 160,941
Core-Mark Holding CORE 92.28 46,403
Covenant Transport Cl A CVTI 12.70 45,142
CyrusOne Inc. CONE 24.88 671,999
Daily Journal DJCO 219.00 1,046
Dorchester Minerals DMLP 30.00 30,162
EDAP TMS SA EDAP 4.40 601,566
EXACT Sciences EXAS 17.74 782,137
Entegris ENTG 13.86 466,723
Escalade ESCA 16.62 36,210
Federated Natl Hldg FNHC 26.60 168,088
First Tr Cap Strength FTCS 35.68 4,904
First Trust ISE Glbl Cppr CU 24.41 15,302
Full Circle 8.25% Nt 2020 FULLL 26.99 4,700
GW Pharmaceuticals ADS GWPH 97.64 1,784,873
Gentiva Health Services GTIV 15.88 384,528
Golar LNG Partners LP GMLP 38.50 279,438
Green Plains Inc. GPRE 32.95 525,593
Hallmark Fincl Services HALL 11.01 21,772
Hub Group Cl A HUBG 50.00 306,642
Impax Labs Inc IPXL 30.27 590,025
Intel INTC 30.31 20,633,745
Intersil Cl A ISIL 15.93 925,191
iSh PHLX Semiconductor SOXX 86.74 261,583
JTH Holding Inc. Cl A TAX 31.55 226,805
Kite Pharma Inc. KITE 30.93 562,700
Lam Research LRCX 67.55 990,481
Lands' End Inc. LE 35.27 372,709
LifePoint Hospitals LPNT 66.02 353,039
Memorial Prdtn Ptrs Un MEMP 24.64 302,246
Metro Bancorp Inc METR 23.44 7,026
Microsemi MSCC 27.36 289,324
Microsoft MSFT 42.00 12,036,648
Mobile Mini MINI 48.64 139,289
NXP Semiconductors NXPI 67.39 1,741,311
Navient Corp. NAVI 17.77 3,735,903
Neovasc Inc. NVCN 7.11 2,940
NetScout Systems NTCT 42.85 103,395
OpenTable Inc. OPEN 106.30 792,483
Pacira Pharmaceuticals PCRX 90.00 386,977
Pattern Energy Group Inc. PEGI 33.19 492,097
Pernix Therapeutics Hldgs PTX 8.75 395,093
PwrShs S&P SmCp Engy PSCE 54.70 3,941
PwrShs S&P SmCp Matrls PSCM 46.49 2,907
Quinpario Acquisition Wt QPACW 1.05 18,700
Radius Health Inc. RDUS 9.95 53,827
Rambus RMBS 14.82 482,676
Rentech RTK 2.70 2,337,677
Royal Gold RGLD 75.67 483,108
Royce Focus Trust FUND 8.50 50,351
Rush Enterprises B RUSHB 31.64 3,710
Salix Pharmaceuticals SLXP 125.82 953,916
Sequential Brands Group SQBG 11.97 97,295
Sigma-Aldrich SIAL 101.87 403,536
Sirona Dental Systems SIRO 81.70 437,513
Skyworks Solutions SWKS 49.10 1,902,595
Spirit Airlines SAVE 64.94 693,465
Supernus Pharmaceuticals SUPN 10.99 262,470
Theravance Biopharma Inc. TBPH 35.24 312,717
2U Inc. TWOU 16.40 106,488
UFP Tech UFPT 27.35 8,509
Universal Electronics UEIC 48.12 41,915
Vanguard Natural Rscs VNR 31.82 310,778
Vanguard Russ 2000 Value VTWV 89.48 3,420
Vident Core US Equity ETF VUSE 26.57 35,425
Viper Engy Ptrs L.P. Un VNOM 36.00 147,551
Virtus Invt Partners VRTS 215.00 34,481
WL Ross Holding Corp. Un WLRHU 10.50 32,376
Westbury Bancorp Inc. WBB 15.14 24,071
Westmoreland Coal WLB 37.15 93,755
Willdan Group WLDN 8.60 190,238
Willis Lease Finance WLFC 26.19 94,916
Windstream Holdings Inc. WIN 10.22 4,266,135
Zillow Cl A Z 136.95 829,394
New Lows 20
COMPANY SYMBOL LOW VOLUME
------- ------ ---- ------
ALCO Stores Inc. ALCS 7.51 7,080
Alcentra Capital Corp. ABDC 14.00 21,332
Bassett Furniture Inds BSET 11.88 47,305
Blue Nile NILE 27.45 120,566
China Commercial Credit CCCR 2.75 117,943
Comstock Hldg Cl A CHCI 1.14 96,579
Diversified Restaurant BAGR 4.05 35,289
Geeknet GKNT 12.22 16,655
Hercules Offshore HERO 4.03 10,505,442
Investors Title Co ITIC 62.53 10,173
iSh MSCI Qatar Capped QAT 23.61 54,060
iSh MSCI UAE Capped UAE 22.04 46,334
Ixia XXIA 11.13 375,679
Kamada Ltd. KMDA 7.13 56,884
Methes Energies B Wt MEILZ 0.15 2,000
Opus Bank OPB 28.28 41,883
Parkervision PRKR 1.21 31,798,423
SeaChange Intl SEAC 7.70 297,990
USMD Holdings Inc. USMD 10.82 4,817
Ultratech UTEK 21.88 372,065
s-Split or stock dividend of 10 percent or more in the past 52 weeks.
n-New issue in past 52 weeks and does not cover the entire 52 week period.
Source: WSJ Market Data Group
(END) Dow Jones Newswires
06-23-14 1519ET
Copyright (c) 2014 Dow Jones & Company, Inc.
Piper Jaff ups SHPG tgt 280 from 202
15:04 ET
227 +4.13 now
New Highs 82 New Lows 18
COMPANY SYMBOL HIGH VOLUME
------- ------ ---- ------
Accelerate Diagnostics AXDX 30.19 148,943
Aemetis AMTX 11.00 95,079
Agile Therapeutics Inc. AGRX 9.57 336,901
Akorn AKRX 30.48 537,106
Alpha & Omega Semicndtr AOSL 9.19 24,293
American Airlines Group AAL 44.75 8,813,099
Applied Materials AMAT 22.99 10,088,053
BGC Partners Cl A BGCP 7.53 264,832
BreitBurn 8.25% Pfd A BBEPP 25.30 37,685
Buffalo Wild Wings BWLD 164.26 528,893
CDW Corp. CDW 32.28 258,467
CU Bancorp CUNB 19.50 6,296
Cadence Design Systems CDNS 17.39 1,466,115
Carrizo Oil & Gas CRZO 69.15 287,691
Central Garden & Pet Co CENT 10.01 844,403
Central Garden & Pet A CENTA 10.11 577,485
Century Aluminum Co CENX 15.82 112,567
Charter Communications CHTR 154.63 462,389
China Biologic Prod CBPO 50.00 52,863
Commercial Vehicle Group CVGI 10.39 271,896
Consolidated Comm Hldgs CNSL 21.69 82,700
Core-Mark Holding CORE 92.28 15,406
CyrusOne Inc. CONE 24.88 394,564
Dorchester Minerals DMLP 29.67 11,892
EDAP TMS SA EDAP 4.31 335,108
EXACT Sciences EXAS 17.74 491,398
Entegris ENTG 13.86 185,101
Escalade ESCA 16.60 10,327
Federated Natl Hldg FNHC 26.60 77,789
First Tr Cap Strength FTCS 35.68 2,340
First Trust ISE Glbl Cppr CU 24.33 6,979
Full Circle 8.25% Nt 2020 FULLL 26.99 200
GW Pharmaceuticals ADS GWPH 97.64 1,429,106
Golar LNG Partners LP GMLP 38.50 144,190
Green Plains Inc. GPRE 32.71 255,046
Hallmark Fincl Services HALL 11.01 14,011
Hub Group Cl A HUBG 49.07 69,226
Impax Labs Inc IPXL 30.27 275,350
Intersil Cl A ISIL 15.93 637,241
iSh PHLX Semiconductor SOXX 86.74 55,622
JTH Holding Inc. Cl A TAX 31.49 50,594
Kite Pharma Inc. KITE 30.93 336,535
Lam Research LRCX 67.46 675,566
Lands' End Inc. LE 35.27 166,271
LifePoint Hospitals LPNT 66.02 269,841
Metro Bancorp Inc METR 23.44 2,873
Microsemi MSCC 27.27 161,283
Microsoft MSFT 42.00 7,584,993
NXP Semiconductors NXPI 67.39 1,201,382
Navient Corp. NAVI 17.61 2,205,766
Neovasc Inc. NVCN 7.11 2,415
NetScout Systems NTCT 42.64 59,155
OpenTable Inc. OPEN 106.30 595,501
Pacira Pharmaceuticals PCRX 90.00 253,686
Pattern Energy Group Inc. PEGI 33.19 256,921
Pernix Therapeutics Hldgs PTX 8.74 211,170
PwrShs S&P SmCp Engy PSCE 54.70 2,719
PwrShs S&P SmCp Matrls PSCM 46.49 1,743
Quinpario Acquisition Wt QPACW 1.05 4,900
Radius Health Inc. RDUS 9.95 31,449
Rambus RMBS 14.82 236,841
Rentech RTK 2.70 1,495,744
Royal Gold RGLD 75.67 314,111
Rush Enterprises B RUSHB 31.64 2,239
Sequential Brands Group SQBG 11.97 51,427
Sigma-Aldrich SIAL 101.87 248,387
Sirona Dental Systems SIRO 81.70 282,221
Skyworks Solutions SWKS 49.10 1,259,321
Spirit Airlines SAVE 64.94 479,724
Supernus Pharmaceuticals SUPN 10.99 92,229
Theravance Biopharma Inc. TBPH 35.16 127,808
UFP Tech UFPT 27.35 2,045
Universal Electronics UEIC 48.12 22,144
Vanguard Natural Rscs VNR 31.73 151,435
Vanguard Russ 2000 Value VTWV 89.48 2,440
Vident Core US Equity ETF VUSE 26.57 22,673
Viper Engy Ptrs L.P. Un VNOM 36.00 93,178
Westbury Bancorp Inc. WBB 15.00 7,058
Westmoreland Coal WLB 37.15 58,795
Willis Lease Finance WLFC 26.19 60,967
Windstream Holdings Inc. WIN 10.22 2,588,171
Zillow Cl A Z 136.95 590,616
New Lows 18
COMPANY SYMBOL LOW VOLUME
------- ------ ---- ------
ALCO Stores Inc. ALCS 7.51 5,502
Alcentra Capital Corp. ABDC 14.00 19,132
Bassett Furniture Inds BSET 12.07 16,200
Blue Nile NILE 27.55 60,110
China Commercial Credit CCCR 2.75 83,250
Comstock Hldg Cl A CHCI 1.14 91,631
Geeknet GKNT 12.54 8,637
Hercules Offshore HERO 4.19 5,102,214
Investors Title Co ITIC 62.53 5,471
iSh MSCI Qatar Capped QAT 23.66 49,350
iSh MSCI UAE Capped UAE 22.04 35,665
Ixia XXIA 11.13 240,727
Kamada Ltd. KMDA 7.13 46,133
Opus Bank OPB 28.44 16,089
Parkervision PRKR 1.21 16,756,271
SeaChange Intl SEAC 7.70 174,856
USMD Holdings Inc. USMD 11.15 2,022
Ultratech UTEK 21.88 199,578
s-Split or stock dividend of 10 percent or more in the past 52 weeks.
n-New issue in past 52 weeks and does not cover the entire 52 week period.
Source: WSJ Market Data Group
(END) Dow Jones Newswires
06-23-14 1219ET
Copyright (c) 2014 Dow Jones & Company, Inc.
New Highs & Lows 1019 et
watch for some reversals in biotechs - IBB eye.
New Highs 54
COMPANY SYMBOL HIGH VOLUME
------- ------ ---- ------
Aemetis AMTX 11.00 27,762
Agile Therapeutics Inc. AGRX 8.90 69,921
Akorn AKRX 30.48 167,608
American Airlines Group AAL 44.75 1,880,181
Applied Materials AMAT 22.83 1,166,924
BreitBurn 8.25% Pfd A BBEPP 25.30 9,875
Buffalo Wild Wings BWLD 161.50 119,976
Cadence Design Systems CDNS 17.30 314,854
Carrizo Oil & Gas CRZO 69.15 47,234
Central Garden & Pet Co CENT 10.01 262,639
Central Garden & Pet A CENTA 10.11 118,865
Charter Communications CHTR 154.63 141,493
Consolidated Comm Hldgs CNSL 21.69 10,706
CyrusOne Inc. CONE 24.45 63,127
EXACT Sciences EXAS 17.49 141,232
Entegris ENTG 13.86 48,593
Escalade ESCA 16.56 432
Federated Natl Hldg FNHC 26.60 21,429
First Tr Cap Strength FTCS 35.68 850
GW Pharmaceuticals ADS GWPH 97.64 618,764
Golar LNG Partners LP GMLP 37.99 36,346
Hallmark Fincl Services HALL 10.93 3,309
Impax Labs Inc IPXL 30.27 23,797
Intersil Cl A ISIL 15.93 100,791
iSh PHLX Semiconductor SOXX 86.74 7,676
Lam Research LRCX 67.35 159,860
LifePoint Hospitals LPNT 65.50 72,646
Metro Bancorp Inc METR 23.44 415
Microsemi MSCC 27.00 26,407
Microsoft MSFT 41.98 2,360,510
NXP Semiconductors NXPI 67.39 289,677
Navient Corp. NAVI 17.57 237,516
Neovasc Inc. NVCN 7.11 2,000
Pattern Energy Group Inc. PEGI 33.19 42,290
Pernix Therapeutics Hldgs PTX 8.74 49,901
PwrShs S&P SmCp Engy PSCE 54.51 862
Rambus RMBS 14.74 71,259
Rentech RTK 2.70 403,532
Royal Gold RGLD 74.13 32,789
Rush Enterprises B RUSHB 31.64 699
Sequential Brands Group SQBG 11.97 16,842
Sigma-Aldrich SIAL 101.45 38,296
Sirona Dental Systems SIRO 81.70 15,020
Skyworks Solutions SWKS 49.10 367,678
Spirit Airlines SAVE 64.80 59,180
UFP Tech UFPT 27.35 614
Universal Electronics UEIC 48.12 3,649
Vanguard Natural Rscs VNR 31.62 30,655
Vanguard Russ 2000 Value VTWV 89.48 425
Vident Core US Equity ETF VUSE 26.57 393
Viper Engy Ptrs L.P. Un VNOM 36.00 8,081
Westmoreland Coal WLB 37.15 20,763
Willis Lease Finance WLFC 26.19 16,978
Zillow Cl A Z 136.51 155,768
New Lows 4
COMPANY SYMBOL LOW VOLUME
------- ------ ---- ------
Blue Nile NILE 27.55 21,758
iSh MSCI UAE Capped UAE 22.04 4,884
Ixia XXIA 11.13 89,768
Kamada Ltd. KMDA 7.32 23,070
s-Split or stock dividend of 10 percent or more in the past 52 weeks.
n-New issue in past 52 weeks and does not cover the entire 52 week period.
Source: WSJ Market Data Group
(END) Dow Jones Newswires
06-23-14 1019ET
Copyright (c) 2014 Dow Jones & Company, Inc.
The Hidden Cost of Trading Stocks NY Times
‘Best Execution’ and Rebates for Brokers
By THE EDITORIAL BOARD JUNE 22, 2014
There’s no escaping the conclusion that the stock market is not a level playing field where all investors, large and small, have an equal shot at a fair deal.
A recent groundbreaking study found that undetected insider trading occurs in a stunning one-fourth of public-company deals. Experts have long debated the pros and cons of high-frequency trading, another pervasive practice, but there is no doubt that it gives superfast traders the jump on others in trading stocks. And the very idea of trading on a public exchange, where stock prices and trading volumes are visible to all, is being eclipsed by private trading of public stocks in off-exchange venues, called dark pools, usually operated by banks.
These are not the only ways in which big market players make money at the expense of other investors. The Senate Permanent Subcommittee on Investigations recently held a hearing on “maker-taker” pricing in which stock exchanges pay rebates to brokers for sending them buy-and-sell orders. The practice has been around for years, as a growing number of exchanges — there are now 11 public exchanges in the United States — have battled for business. What is new is the compelling evidence that the rebates are corrupting.
Under federal trading rules, brokers must provide “best execution,” which usually means finding the best stock prices for clients who pay them to buy and sell shares. But the rules also recognize that for some trades, getting the best price is only one part of best execution; the speed, size and cost of a trade must also be considered.
Research presented at the Senate hearing showed that under the guise of making subjective judgments about best execution, brokers were routinely sending orders to venues that paid the highest rebates.
In the last quarter of 2012, for example, the brokerage TD Ameritrade sent all nonmarketable customer orders — those that can’t be completed immediately based on the market price — to the one exchange that paid the highest rebate. In the first quarter of 2014, it sent nonmarketable orders to two venues that paid the highest rebates.
Senator Carl Levin, the subcommittee chairman, rightly called it “a frankly pretty incredible coincidence” that the firm’s judgment on best execution for tens of millions of customers had invariably led it to use the venues that paid the highest rebates. Under questioning, Steven Quirk, an executive of TD Ameritrade, conceded that in the trades cited by Mr. Levin the firm had virtually always used exchanges that paid the most. He also estimated that the firm made $80 million last year from maker-taker rebates.
Meanwhile, many brokerages promote their low trading costs. But the fees to trade stocks do not include the hidden costs that are incurred when investors don’t get the best price. A study from 2012 estimated that rebates cost individual investors, mutual funds and pension funds as much as $5 billion a year.
Securities regulators clearly need to better enforce the best execution requirements on brokers, and require better disclosure on brokers’ routing decisions and the rebates they earn. If Congress won’t provide more resources for enforcement, rebates need to be passed along to the customer or eliminated altogether.
Baltic, Precious,oil, early pricing & UK
08:12 News Bot: Baltic Dry Index falls 2.0% to 886 points
08:08 News Bot: London Silver Fix USD 20.75 (Prev. USD 20.62)
08:08 News Bot: Libya's Eastern Hariga oil port is shut again after weekend reopening as oil guards demanding salaries block tanker, according to AGOCO spokesman
08:08 News Bot: Gold prices rose INR 60 to INR 28,785/10g in India overnight on the back of increased buying by jewellers amid wedding season demand even as the metal weakened overseas
08:08 News Bot: UK yield curve has bull-steepened throughout the morning, with the short-sterling strip seen up 1-4 ticks with some speculating that the BoE's expected move to cool the housing market could take the pressure off the need for a near-term interest rate hike
COCO up pre on DoE action
Figures that when COCO didn't continue fall into the $.15 area and held @0.30 that something was in wind. Long term it becomes hard to play now.
SANTA ANA, Calif. , June 23, 2014 (GLOBE NEWSWIRE) -- Corinthian Colleges, Inc. (Nasdaq:COCO) announced today that it has reached a memorandum of understanding with the U.S. Department of Education (the "Department") that maintains uninterrupted daily operations at its schools, until the Company and the Department finalize a more detailed transition plan. Corinthian currently serves about 72,000 students at 107 campuses and online.
Corinthian and the Department agreed upon a Memorandum of Understanding ("MOU") under which Corinthian will immediately receive $16 million in federal student aid funds earned through enrollment, avoiding an immediate cash shortfall that will allow its students to continue their educational programs as planned. Under the terms of the MOU, Corinthian and the Department will enter into an Operating Agreement that will allow Corinthian to proceed with its plan to pursue strategic alternatives for its operations, including the sale and teach-out of schools in a manner that will best protect the interests of students, faculty and staff, ensure the integrity of federal student aid funds and preserve the value of the schools. The Department and Corinthian have agreed to finalize the details of the transition plan in an Operating Agreement by Tuesday, July 1, 2014 . For more information, see the 8-K issued by the Company today.
"Throughout several days of intensive discussions with the Department, our goal has been to protect the interests of our students, 12,000 employees, taxpayers and other stakeholders," said Jack Massimino , Corinthian Chairman and Chief Executive Officer. "This agreement helps achieve that goal. We worked collaboratively with the Department to reach consensus, and we will continue to do so as we finalize and implement the detailed transition plan."
Under the MOU, Corinthian will identify and engage an independent compliance and business monitor acceptable to the Department. The monitor will have full access to Corinthian's financial and operating records and information and report to the Department on Corinthian's progress in the implementation of the transition plan contemplated by the MOU.
Corinthian will continue to seek new owners for most of its campuses with the goal of entering into definitive sales agreements with one or more third parties for such campuses within approximately six months, and will proceed in an orderly fashion with the "teach-out" of schools that are under-performing or whose continued participation in the Title IV student aid programs has been terminated by the Department. During the teach-out process, no new students will be enrolled at the affected schools, but all current students will be able to complete their instructional programs or transfer to another institution.
Background
On June 19, 2014 , Corinthian disclosed in a Form 8-K that the Department had changed the process through which it disburses federal Title IV education funds to the company, moving from its Advanced Payment system to financial oversight called Heightened Cash Monitoring 1 (HCM1). As part of HCM1, the Department imposed a 21-day delay in the disbursement of Title IV funds. In its disclosure, Corinthian said this delay, coming at fiscal year-end when cash flows are at their lowest point, could "cause the company to be unable to continue as a going concern." The MOU between the Department and Corinthian maintains HCM1, but immediately disburses $16 million in federal funds to Corinthian to avoid a sudden and unplanned disruption of school operations.
Liquidity Needs
Although Corinthian believes the MOU is a positive step for the Department, Corinthian and all of its stakeholders, the Company will still need to obtain additional sources of liquidity to fund its operations. During negotiations over the final Operating Agreement between now and July 1, 2014 , Corinthian hopes to work cooperatively with the Department to find mutually agreeable modifications to the 21-day delay imposed by the Department in connection with HCM1 that will permit Corinthian to receive regular disbursements of Title IV funds to fund its operations. Additionally, Corinthian may continue to seek additional sources of liquidity through new financings, additional cost reductions, accelerated asset sales or some combination thereof. There can be no assurance that the Department will modify the 21-day delay as a result of the Operating Agreement, or that Corinthian will be able to obtain any such additional needed liquidity on a timely basis, on terms acceptable to it, or at all.
Other
During Corinthian's discussions with the Department regarding the MOU, the Department indicated that, in connection with its ongoing review of Corinthian and its schools, it is considering denial of recertification or removal of certification of institutional Title IV eligibility with respect to certain of the Company's schools. Many Corinthian schools hold provisional Title IV Program Participation Agreements with the Department, and the Participation Agreements of others has or is about to expire. The Department may decline to renew expiring Participation Agreements or terminate existing Participation Agreements in the event it identifies significant institutional failures, which, depending on the schools, could have a material adverse effect on Corinthian.
About Corinthian
Corinthian is one of the largest post-secondary education companies in North America . Our mission is to change students' lives. We offer diploma and degree programs that prepare students for careers in demand or for advancement in their chosen fields. Our program areas include health care, business, criminal justice, transportation technology and maintenance, construction trades and information technology. We have 107 Everest, Heald and WyoTech campuses, and also offer degrees online. For more information, go to http://www.cci.edu.
Certain statements in this press release may be deemed to be forward-looking statements under the Private Securities Litigation Reform Act of 1995. The company intends that all such statements be subject to the "safe-harbor" provisions of that Act. Such statements include, but are not limited to, those regarding the implementation of the MOU and the transition plan contemplated by the MOU, the negotiation of the Operating Agreement, and the discussion under the heading Liquidity Needs. Many factors may cause Corinthian's actual results to differ materially from those discussed in any such forward-looking statements or elsewhere, including: Corinthian's ability to identify new owners for its campuses and to enter into agreements with any such new owners on terms acceptable to the company, if at all; possible refusal of the Department to modify the 21-day delay imposed by in connection with HCM1 to permit Corinthian to receive regular disbursements of Title IV fund its operations; possible inability to obtain needed liquidity through new financings, additional cost reductions, accelerated asset sales or some combination thereof; the company's possible inability to comply with the terms of the MOU and related transition plan; the company's effectiveness in its regulatory and accreditation compliance efforts; the outcome of ongoing reviews and inquiries by accrediting, state and federal agencies, including the Department of Education , various attorneys general, and the Consumer Financial Protection Bureau (CFPB); the outcome of pending litigation against the company, including the civil complaints filed by the California and Massachusetts Attorneys General; the CFPB's determination regarding enforcement action against Corinthian; increased competition; changes in general macroeconomic and market conditions (including credit and labor market conditions, the unemployment rate, and the rates of change of each such item); the uncertainty of counterparty decisions in the waiver of events of default in the credit agreement and the potential sale of Genesis loans; and the other risks and uncertainties described in the company's filings with the U.S. Securities and Exchange Commission . The historical results achieved by the company are not necessarily indicative of its future prospects. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Investors:
Anna Marie Dunlap
SVP Investor Relations
714-424-2678
Media:
Kent Jenkins
VP Public Affairs Communications
202-682-9494
Image: Corinthian Colleges, Inc. Logo
Source: Corinthian Colleges, Inc.
COCO up pre on DoE bailout for now.
SANTA ANA, Calif. , June 23, 2014 (GLOBE NEWSWIRE) -- Corinthian Colleges, Inc. (Nasdaq:COCO) announced today that it has reached a memorandum of understanding with the U.S. Department of Education (the "Department") that maintains uninterrupted daily operations at its schools, until the Company and the Department finalize a more detailed transition plan. Corinthian currently serves about 72,000 students at 107 campuses and online.
Corinthian and the Department agreed upon a Memorandum of Understanding ("MOU") under which Corinthian will immediately receive $16 million in federal student aid funds earned through enrollment, avoiding an immediate cash shortfall that will allow its students to continue their educational programs as planned. Under the terms of the MOU, Corinthian and the Department will enter into an Operating Agreement that will allow Corinthian to proceed with its plan to pursue strategic alternatives for its operations, including the sale and teach-out of schools in a manner that will best protect the interests of students, faculty and staff, ensure the integrity of federal student aid funds and preserve the value of the schools. The Department and Corinthian have agreed to finalize the details of the transition plan in an Operating Agreement by Tuesday, July 1, 2014 . For more information, see the 8-K issued by the Company today.
"Throughout several days of intensive discussions with the Department, our goal has been to protect the interests of our students, 12,000 employees, taxpayers and other stakeholders," said Jack Massimino , Corinthian Chairman and Chief Executive Officer. "This agreement helps achieve that goal. We worked collaboratively with the Department to reach consensus, and we will continue to do so as we finalize and implement the detailed transition plan."
Under the MOU, Corinthian will identify and engage an independent compliance and business monitor acceptable to the Department. The monitor will have full access to Corinthian's financial and operating records and information and report to the Department on Corinthian's progress in the implementation of the transition plan contemplated by the MOU.
Corinthian will continue to seek new owners for most of its campuses with the goal of entering into definitive sales agreements with one or more third parties for such campuses within approximately six months, and will proceed in an orderly fashion with the "teach-out" of schools that are under-performing or whose continued participation in the Title IV student aid programs has been terminated by the Department. During the teach-out process, no new students will be enrolled at the affected schools, but all current students will be able to complete their instructional programs or transfer to another institution.
Background
On June 19, 2014 , Corinthian disclosed in a Form 8-K that the Department had changed the process through which it disburses federal Title IV education funds to the company, moving from its Advanced Payment system to financial oversight called Heightened Cash Monitoring 1 (HCM1). As part of HCM1, the Department imposed a 21-day delay in the disbursement of Title IV funds. In its disclosure, Corinthian said this delay, coming at fiscal year-end when cash flows are at their lowest point, could "cause the company to be unable to continue as a going concern." The MOU between the Department and Corinthian maintains HCM1, but immediately disburses $16 million in federal funds to Corinthian to avoid a sudden and unplanned disruption of school operations.
Liquidity Needs
Although Corinthian believes the MOU is a positive step for the Department, Corinthian and all of its stakeholders, the Company will still need to obtain additional sources of liquidity to fund its operations. During negotiations over the final Operating Agreement between now and July 1, 2014 , Corinthian hopes to work cooperatively with the Department to find mutually agreeable modifications to the 21-day delay imposed by the Department in connection with HCM1 that will permit Corinthian to receive regular disbursements of Title IV funds to fund its operations. Additionally, Corinthian may continue to seek additional sources of liquidity through new financings, additional cost reductions, accelerated asset sales or some combination thereof. There can be no assurance that the Department will modify the 21-day delay as a result of the Operating Agreement, or that Corinthian will be able to obtain any such additional needed liquidity on a timely basis, on terms acceptable to it, or at all.
Other
During Corinthian's discussions with the Department regarding the MOU, the Department indicated that, in connection with its ongoing review of Corinthian and its schools, it is considering denial of recertification or removal of certification of institutional Title IV eligibility with respect to certain of the Company's schools. Many Corinthian schools hold provisional Title IV Program Participation Agreements with the Department, and the Participation Agreements of others has or is about to expire. The Department may decline to renew expiring Participation Agreements or terminate existing Participation Agreements in the event it identifies significant institutional failures, which, depending on the schools, could have a material adverse effect on Corinthian.
About Corinthian
Corinthian is one of the largest post-secondary education companies in North America . Our mission is to change students' lives. We offer diploma and degree programs that prepare students for careers in demand or for advancement in their chosen fields. Our program areas include health care, business, criminal justice, transportation technology and maintenance, construction trades and information technology. We have 107 Everest, Heald and WyoTech campuses, and also offer degrees online. For more information, go to http://www.cci.edu.
Certain statements in this press release may be deemed to be forward-looking statements under the Private Securities Litigation Reform Act of 1995. The company intends that all such statements be subject to the "safe-harbor" provisions of that Act. Such statements include, but are not limited to, those regarding the implementation of the MOU and the transition plan contemplated by the MOU, the negotiation of the Operating Agreement, and the discussion under the heading Liquidity Needs. Many factors may cause Corinthian's actual results to differ materially from those discussed in any such forward-looking statements or elsewhere, including: Corinthian's ability to identify new owners for its campuses and to enter into agreements with any such new owners on terms acceptable to the company, if at all; possible refusal of the Department to modify the 21-day delay imposed by in connection with HCM1 to permit Corinthian to receive regular disbursements of Title IV fund its operations; possible inability to obtain needed liquidity through new financings, additional cost reductions, accelerated asset sales or some combination thereof; the company's possible inability to comply with the terms of the MOU and related transition plan; the company's effectiveness in its regulatory and accreditation compliance efforts; the outcome of ongoing reviews and inquiries by accrediting, state and federal agencies, including the Department of Education , various attorneys general, and the Consumer Financial Protection Bureau (CFPB); the outcome of pending litigation against the company, including the civil complaints filed by the California and Massachusetts Attorneys General; the CFPB's determination regarding enforcement action against Corinthian; increased competition; changes in general macroeconomic and market conditions (including credit and labor market conditions, the unemployment rate, and the rates of change of each such item); the uncertainty of counterparty decisions in the waiver of events of default in the credit agreement and the potential sale of Genesis loans; and the other risks and uncertainties described in the company's filings with the U.S. Securities and Exchange Commission . The historical results achieved by the company are not necessarily indicative of its future prospects. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Investors:
Anna Marie Dunlap
SVP Investor Relations
714-424-2678
Media:
Kent Jenkins
VP Public Affairs Communications
202-682-9494
Image: Corinthian Colleges, Inc. Logo
Source: Corinthian Colleges, Inc.
icon thx for that site
Chicago Bridge & Iron | CBI | June 17, 2014
Funny they knocked this one hard saying based on accounting methods and such; they see fair value -49% from current price.
I forget whether it was CNBC am or, more likely, Fast Money last week that some member was jumping for Chicago. About that time I was seeing trading for it pass on ticket. Trader favorite in old days then fell off from those levels. Now here it is again. Use as litmus test for Prescience. Signed for letter.
Industrial suppliers are a pick by Stockcharts newsletter this week as a recovering sector (along w/ small caps). Chicago might get a pop off if sector continues.
Prescience Point is releasing a new report on Chigago Bridge & Iron (NYSE: CBI). The report reveals how the company has used creative acquisition accounting to conceal losses, resulting in GAAP financial statements divorced from its economic realities. Management has misled shareholders and analysts into believing that nothing is wrong with its Shaw Group acquisition or business.
MEA interesting, industrial suppliers rising
A run thru Ich could take it ot 1.75/2.00 as a possible, assuming scrap qualifies as an industrial supplier. Little IGC has been twisting all around as market tries to figure what is going on with industrial materials.
Chip Anderson, StockCharts.cxx newsletter had this. Also high on Healthcare and Small Caps in gerneral.
INDUSTRIAL SUPPLIERS WAITING THEIR TURN?
by Tom Bowley | InvestEd Central
The Dow Jones US Industrial Suppliers Index ($DJUSDS) experienced a HUGE bull market run off the 2009 lows through mid-2013, quadrupling in value during the period. Momentum on the weekly chart turned negative, as evidenced by the long-term negative divergence on its MACD. As a result, this index has gone nowhere for the past 15 months or so as money has rotated away from the group into other areas like semiconductors, transportation, etc. The good news is that this basing has set up what could be another powerful move to the upside as money rotates back into what is quickly becoming a very attractive area of the market technically.
The weekly RSI on the industrial suppliers has not reached overbought territory at any point during the past year. A breakout above key technical price resistance near 320 could lead to a lengthy period of relative strength vs. the S&P 500. Currently, the relative strength line is downtrending, but I wouldn't overlook the bullish continuation pattern and the improving volume trends in 2014, not to mention the strengthening weekly MACD off the recent centerline test. These bullish patterns do require a confirming breakout, but moving through 320 on the index is likely to send many traders back into the industrial suppliers stocks.