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lol
honestly I smoke more if I buy cartons...liking ICO OCNF YRCW BZH here...too many choices..may buy ICO on dip as steel moving today..
shaping up sunny here...
I have to be at school at 11 AM EST til 2PM. lazy day; bought enough cigs yesterday so I don't have to go to the store today lol
no...just flipping this AM...just doubled up at 1.75...I think we see 1.80's today if the djia stays green
thx...could've had 1.75's...no bother
back in 1.76
Out FNM 1.77
nice...I think I'll go make one
drive safe
grabbed FNM 1.72
looking at steel prod here today (thx to my friend the lobster)....ZEUS STLD
also AA
C AIG FRE gapping
European, Asian Shares Advance; U.S. Stock-Index Futures Rise
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By Adria Cimino
Sept. 22 (Bloomberg) -- European and Asian stocks rose, resuming a six-month rally for the MSCI World Index, amid signs government stimulus measures are helping the global economy to recover. U.S. futures advanced.
Samsung Electronics Co. and STMicroelectronics NV surged more than 3 percent as chip prices climbed to the highest level in more than a year. Carnival Corp. gained 4.2 percent in London after Bank of America Corp. recommended shares of the world’s biggest cruise-line operator. BHP Billiton Ltd. led mining companies higher as commodities advanced.
The MSCI World added 0.9 percent at 12:26 p.m. in London. The index has soared 66 percent since March 9 as results at companies from HSBC Holdings Plc to GlaxoSmithKline Plc surpassed projections and the German and French economies unexpectedly exited recessions. The gauge is valued at more than 27 times the reported earnings of its companies, the highest level since 2003, weekly data compiled by Bloomberg show.
The rally “can run a bit further,” Georgina Taylor, an equity strategist at Legal & General Group Plc in London, which oversees $456 billion worldwide, said in a Bloomberg Television interview. “We’re positive on equities. There’s evidence of real economic activity starting to increase.”
The Dow Jones Stoxx 600 Index of European equities gained 1.1 percent today as all 19 industry groups advanced. Standard & Poor’s 500 Index futures added 0.7 percent and the MSCI Asia Pacific excluding Japan Index increased 0.9 percent. Markets in Japan, Malaysia, Indonesia and Pakistan are shut for holidays.
Asian Growth
The Asian Development Bank raised its economic growth forecast for the region on strengthening expansion in China, India and Indonesia, and said it’s too early for governments to withdraw stimulus policies. Asia, excluding Japan, will grow 3.9 percent in 2009, faster than a March estimate of 3.4 percent, the Manila-based institution said today. Growth may accelerate in 2010 to 6.4 percent, the bank said.
The Italian government increased its forecast for next year’s economic growth to 0.7 percent from 0.5 percent. The economy will shrink 4.8 percent in 2009, compared with a previous prediction for a contraction of 5.2 percent, a Finance Ministry official said today.
The global economy has yet to feel the biggest impact of government-led spending programs to stimulate demand, according to U.K. Prime Minister Gordon Brown, who yesterday reiterated concerns about removing them too early.
‘Safeguard a Recovery’
“The stimulus that we have still got to give the world economy is greater than the stimulus we have already had,” Brown told reporters in London before his departure today for the Group of 20 meeting in Pittsburgh. “What we want to do is safeguard a recovery from a recession we feared would develop into a depression.”
Global leaders meet this week seeking to deliver the broadest financial regulation overhaul since the 1930s, potentially threatening profits and stock prices of banks. The G-20 convenes in Pittsburgh on Sept. 24-25 to discuss forcing banks to curb leverage, hold more equity capital and keep a greater pool of assets that can be easily traded.
Stocks have rallied since March as the G-20 committed about $12 trillion to revive growth and the Federal Reserve kept overnight borrowing costs near zero to unlock credit markets. The collapse of subprime mortgages spurred $1.6 trillion in writedowns and losses at the world’s biggest financial firms.
Fed Chairman Ben S. Bernanke’s efforts to stoke a U.S. economic recovery may be undermined by the central bank’s other goal of restoring the banking system to health.
Fed Meeting
The Federal Open Market Committee, at the conclusion tomorrow of a two-day meeting, will probably maintain its assessment that “tight” bank credit is impeding growth. Economists surveyed by Bloomberg News unanimously forecast the Fed will leave its benchmark interest rate unchanged.
Samsung Electronics, the world’s largest computer-memory chipmaker, gained 3.4 percent to 825,000 won in Seoul. The price of the benchmark computer-memory chip climbed 1.1 percent yesterday to the highest level since August 2008, according to Dramexchange Technology Inc.
Separately, Citigroup Inc. raised its price estimate to 1,030,000 won from 900,000 won on expectations earnings will benefit from growing demand for computer-memory chips.
STMicroelectronics, Europe’s biggest semiconductor maker, added 3.3 percent to 6.76 euros and Infineon Technologies AG, the region’s second-largest, gained 1 percent to 3.63 euros.
Carnival Climbs
Carnival rallied 4.2 percent to 2,146 pence after Bank of America added the shares to its “Europe 1” list.
Basic resources stocks climbed as prices of copper, lead, nickel and tin rose in London. Silver and gold also increased.
BHP Billiton, the world’s largest mining company, advanced 2.7 percent to 1,748.5 pence and Rio Tinto Group, the third- biggest, gained 4.3 percent to 2,758 pence. Lonmin Plc, the third-largest platinum producer, added 3.9 percent to 1,766 pence. Fresnillo Plc, the biggest primary silver producer, rallied 6 percent to 798.5 pence.
U.S. Steel Corp. advanced 2.9 percent to $49.39 in early New York trading. The largest U.S.-based steelmaker by sales was raised to “neutral” from “underperform” at Bank of America, which said in a report that “improving utilization should return the company to profitability in 2010.”
Air France-KLM Group jumped 5.4 percent to 12.79 euros after Europe’s biggest carrier cut passenger capacity by 2 percent for the winter 2009 season from year-earlier levels.
Airline Estimates
Separately, CA Cheuvreux lifted its share-price estimates for European airlines by about 40 percent overall, citing higher economic growth and rising passenger traffic forecasts for 2010.
Deutsche Lufthansa AG, Europe’s second-largest carrier, climbed 4.1 percent to 12.43 euros.
Vivendi SA rose 2.7 percent to 21.27 euros. The owner of the world’s biggest music company may decide at an Oct. 14 board meeting to sell its stake in NBC Universal, according to a person with knowledge of the situation.
Vivendi spokesman Antoine Lefort declined to comment yesterday on the company’s plan for NBC Universal and on the board meeting. Anne Eisele, a spokeswoman for General Electric Co., which owns 80 percent of NBC, declined to comment on Vivendi’s potential decision beyond previous statements.
Grupo Ferrovial SA, Spain’s second-largest builder, climbed 8 percent to 32 euros after being upgraded to “buy” from “hold” at Banco Santander SA.
To contact the reporter on this story: Adria Cimino in Paris at acimino1@bloomberg.net.
Last Updated: September 22, 2009 07:28 EDT
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Asian Stocks Advance on Brokerage Upgrades; Samsung, STX Climb
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By Shani Raja
Sept. 22 (Bloomberg) -- Asian stocks rose for the first time in three days as brokerage upgrades fueled speculation that regional equities can extend a six-month rally.
Samsung Electronics Co. gained 3.4 percent in Seoul after Citigroup Inc. raised its price estimate and chip prices climbed to their highest level in more than a year. LG Chem Ltd. and Samsung SDI Co. jumped at least 6.4 percent after being lifted to “overweight” at Morgan Stanley. China Mobile Ltd. advanced 2.4 percent in Hong Kong after it added customers at a faster rate in August than the previous month.
The MSCI Asia Pacific excluding Japan Index rose 1 percent to 393.28 as of 6:39 p.m. in Hong Kong. Markets in Japan, Malaysia, Indonesia and Pakistan were shut for holidays. The gauge that includes Japan has rallied 68 percent from a five- year low on March 9, lifting the average price of its stocks to 1.6 times book value from 1.03 at this year’s trough.
“Valuations at this juncture are not cheap,” said Tim Schroeders, who helps manage about $1 billion at Pengana Capital Ltd. in Melbourne. “However, if underlying levels of economic activity can continue to improve and profitability continues to grow, that should be sufficient to sustain current market levels.”
South Korea’s Kospi index advanced 1.4 percent to 1,718.88, its highest close since June 20, 2008. STX Pan Ocean Co., the country’s biggest commodity-shipping line, rose 8 percent in Singapore after securing its largest contract. Hong Kong’s Hang Seng Index added 1.1 percent at the close.
Valuation Concerns
The Shanghai Composite Index fell 2.3 percent to 2,897.55, its lowest close since Sept. 7. Australia’s benchmark S&P/ASX 200 Index lost 0.3 percent at the close. Macquarie Airports Ltd. climbed 3 percent in Sydney after saying it may be compensated if debt costs rise.
Futures on the U.S. Standard & Poor’s 500 Index gained 0.7 percent. The gauge fell 0.3 percent to 1,064.66 yesterday on speculation a six-month rally has outpaced prospects for profit growth, even as an index of U.S. leading economic indicators rose for the fifth-straight month.
“We are never out of the woods,” said Donald Gimbel, senior managing director of Carret & Co., which manages $1.5 billion in assets. “One has to buy quality companies that aren’t overvalued. It sounds simple, but it takes work to find stocks that meet our strict criteria.”
Samsung Electronics, the world’s largest computer-memory chipmaker, gained 3.4 percent to 825,000 won in Seoul. Citigroup raised its price estimate to 1,030,000 won from 900,000 won on expectations earnings will benefit from growing demand for computer-memory chips, according to a note yesterday.
STX Pan Ocean
Separately, the price of the benchmark computer-memory chip climbed 1.1 percent yesterday to the highest level since Aug. 27, 2008, according to Dramexchange Technology Inc.
LG Chem climbed 10.8 percent to 246,000 won, while Samsung SDI jumped 6.4 percent to 174,500 won. Morgan Stanley upgraded the companies from “equal weight” in a report that said they may sign additional auto battery contracts.
China Mobile, the world’s largest cell-phone operator by users, gained 2.4 percent to HK$80.30. The company said it added 5.26 million subscribers in August, more than the 4.55 million that joined the previous month.
In Singapore, STX surged 8 percent to S$14.36 after winning a 25-year contract to move iron ore for Vale SA to China from Brazil. News that the two companies were in talks boosted STX’s shares in Seoul by 8.2 percent yesterday. The Singaporean stock didn’t trade yesterday because of a public holiday.
Beating Estimates
The MSCI Asia Pacific Index’s six-month rally has been driven by better-than-estimated economic reports and corporate earnings. Of 648 companies on the gauge that reported net income for the latest quarter, 225 beat analyst predictions, compared with 138 that missed.
The MSCI index has now recovered to levels last seen before the collapse of Lehman Brothers Holdings Inc. a year ago. The ensuing credit crisis caused more than $1.6 trillion in losses at financial institutions and helped drag economies globally into recession.
Governments around the world responded by boosting spending, cutting taxes and slashing interest rates to revive growth. Withdrawing these measures too early may derail the global recovery and lead to a protracted slowdown, the Asian Development Bank said today.
“Heightened levels of liquidity combined with a debt binge by governments have served the global economy well,” said Pengana’s Schroeders. “As conditions continue to moderate, the focus will shift on to the ability of economies around the world to become self-sustaining.”
Macquarie Airports
Macquarie Airports climbed 3 percent to A$2.75. Macquarie Group Ltd., Australia’s biggest investment bank, may pay back the A$345 million ($280 million) fee it is set to receive for ending ties with the affiliate if the plan raises its debt costs. Macquarie Group shares added 0.8 percent to A$54.79.
Among stocks that fell, Tangshan Iron & Steel Co., part of China’s second-largest steelmaking group, slumped 7.5 percent to 6.90 yuan as its shares resumed trading after China’s securities regulator approved a plan to combine with associate companies.
Metro Pacific Investments Corp. tumbled 32 percent to 3.25 pesos in Manila trading after agreeing to sell shares at a 37 percent discount to last week’s closing price.
To contact the reporter on this story: Shani Raja in Sydney at sraja4@bloomberg.net.
Last Updated: September 22, 2009 06:42 EDT
Oil 70.80
Futures
North/Latin America
INDEX VALUE CHANGE OPEN HIGH LOW TIME
DJIA INDEX 9,783.00 +65.00 9,712.00 9,792.00 9,709.00 07:32
S&P 500 1,067.90 +7.50 1,059.80 1,068.80 1,059.50 07:31
NASDAQ 100 1,738.75 +11.00 1,728.75 1,740.00 1,728.75 07:27
Ten Big Companies That Are Veering Toward Bankruptcy
Posted Sep 18, 2009 12:21pm EDT by Vincent Fernando and Joe Weisenthal in Investing, Media, Products and Trends, Recession
Related: AMD, LVS, S, M, GT, MYL, HTZ
From The Business Insider, Sept. 18, 2009:
Despite a few green shoots in the economy and a rocketing stock market, many large companies are still struggling to avoid bankruptcy.
A new report by Audit Integrity identifies some high-profile names "that have the highest probability of declaring bankruptcy among publicly traded firms."
Which companies appear the worst off? We took the list and removed any company with a market cap under $3 billion. We then ranked the remaining names by a simple measure of the market's perceived bankruptcy risk - Market Cap (MC) divided by Enterprise Value (EV). The less MC vs. EV, the less residual shareholders' value (above what debt holders can claim) the market is pricing-in for the company. Thus a lower MC/EV means the market thinks the company is more likely to go bankrupt.
1. Hertz
When you have tons of debt financing your fleet of cars, falling rental demand really hurts.
While the company raised new capital in May for some breathing room, Fitch and Moody’s actually cut their ratings for the company in July.
Ignoring the downgrade, shares kept rallying and are now at over five times the March $2 low. Best of luck.
Market Cap (MC)/Enterprise Value (EV) = 32%
2. Textron
What a tough time to be selling business jets.
Textron wrote down $2.3 in its backlog this year after it cancelled a new jet design, and demand for its other aircraft-related offerings has plummeted.
Shareholders may be heartened by the company’s ability to push back some debt maturities lately, but deteriorating credit quality at the company’s leasing arm makes the outlook uncertain at best.
MC/EV=39%
3. Sprint Nextel
Sprint Nextel is bleeding customers, and could lose as many as 4.4 million net post-paid subscribers this year.
This is a huge problem when you have large amounts of maturing debt over the next few years.
A recent Deutsche Telekom acquisition rumor offered some hope, but that appears to have faded. Facing a difficult road ahead on its own, the company better keep its lawyers on speed-dial.
MC/EV=41%
4. Macy's
Does anyone even shop at department stores anymore?
Same store sales will likely keep falling at Macy’s right through 2009. With $2.4 billion of maturing debt over the next five years, the company is trying to cut costs, and has already reduced its dividend.
Hopefully the US consumer will bounce back soon, and actually want to shop at Macy's.
MC/EV=47%
5. Mylan
In a classic case of management empire building, Mylan overpaid big time when it bought Merck’s generic business back in 2007 and is now stuck with $5 billion of long-term debt as a result.
From 2007 – 2008, the company lost over $1.3 billion very much due to goodwill write-downs.
While the company could earn $300 million this year, they’ll have to earn far more than that in the future to make their debt manageable.
MC/EV=51%
6. Goodyear
Demand for Goodyear tires has sunk, and the company is saddled with massive debt and pension obligations.
It doesn’t help that The United Steelworkers union prevents the company from proper cost control by forcing factories to stay open.
Shareholders have to wonder how much value will be left of the company after bondholders and the union members have their way.
MC/EV=53%
7. CBS
Weak advertising and falling license fees have sent CBS's earnings off a cliff in 2009.
If they remain depressed for too long, the company could have trouble refinancing $3.2 billion of debt coming due over the next five years.
It will really come down to whether or not CBS’s earnings collapse is merely cyclical, or the result of structural trend whereby traditional TV is dying.
As a business blog, we can't help but feel partly guilty here.
MC/EV=55%
8. Advanced Micro Devices
When will AMD actually make money again? The question is becoming more important by the day since it carries over $5 billion in long-term debt.
After losing almost $3 billion from 2007 – 2008, analysts expect the company to lose more money in 2009 and 2010.
While the shares rallied from their February $2 low, they still appear stuck in a long-term down trend from $40 highs way back in 2006.
MC/EV=55%
9. Las Vegas Sands
Las Vegas Sands over-expanded and over-levered in the last few years and now has over $10 billion in debt to deal with.
Despite jumping 13 times from their March low, Las Vegas Sands shares still face an uphill battle.
Conditions in Las Vegas are horrible, Asian expansion isn’t enough, and if this lasts too long then LVS will end up in bankruptcy court looking like it bit off more than it can chew.
MC/EV=60%
10. Interpublic Group
As one of the largest advertising and marketing companies in the world, IPG was slammed by the global recession.
As the company’s CEO said during recent second quarter results, the downturn “is proving steeper and more lasting than expected”.
Revenues have fallen double digits and the company’s exposure to General Motors as its largest client hasn’t helped.
MC/EV=80%
More coverage from The Business Insider:
The Most Corrupt Members of Congress
GM all
lol
where you been then....?
j/k
I know...but I figure if I keep saying it you'll come back :)
sold too early looks like early...
wake up a little earlier tommorrow and trade with me in the morning...it's been lonely since griff decided to quit
Out FRE 1.90
still holding HYTM
day off...will be in tommorrow
GL to all today
congrats
from .90-.80...in deep too...
have fun at your grandmother's....call me next week then
hey....stuck in HYTM at the moment..done real well last 12 days...so may have to take a decent hit here...
give me a call if you want to meet up tonight...I could drive out to columbia if you don't feel like going far...
I know...they were great picks mike...congrats..
how are you tonight?
she's moved and now runs this site:
http://marketaddicts.net/wordpress-mu/
Oil 72.13
Futures
North/Latin America
INDEX VALUE CHANGE OPEN HIGH LOW TIME
DJIA INDEX 9,749.00 =12.00 9,726.00 9,751.00 9,685.00 08:02
S&P 500 1,063.80 +1.00 1,062.70 1,064.60 1,056.20 08:02
NASDAQ 100 1,722.00 +2.00 1,719.50 1,722.25 1,713.25 07:18
GM all
This is what we listened to in Costa Rica (when I lived there):
yep...found it on a yahoo search
hopefully I'll be jammin':
I'm up 67K last 12 trading days...down 20K on this bunch...we'll see if she'll pop in the AM
I'm even on FRE/FNM pretty much, so futures up may help soften the blow if there is one..
I saw...thx
stuck in HYTM FRE FNM...HYTM pretty deep (150K+ shares)...
deep in HYTM at the moment
Asian Stocks Rise to One-Year High as Investors Bet on Recovery
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By Patrick Rial and Shani Raja
Sept. 17 (Bloomberg) -- Asian stocks rose, driving the MSCI Asia Pacific Index to a one-year high, as growing investor confidence in the global recovery sent commodity prices higher and prompted Japanese steelmakers to start idled plants.
BHP Billiton Ltd., the world’s largest mining company, rose 1.5 percent in Sydney after saying steel demand will double in the next 15 years. Nippon Steel Corp., the world’s No. 2 producer of the alloy, rallied 4.1 percent after saying it will reopen a furnace. Nissan Motor Co., which gets 34 percent of its revenue in North America, jumped 3.4 percent after U.S. industrial production increased more than forecast.
“The flow of good economic news has become an avalanche,” said Shane Oliver, head of investment strategy with AMP Capital Investors Ltd., which manages about $75 billion. “Six months ago, investors were allowing for a Great Depression-type of scenario. Instead, we’re seeing clear evidence of a recovery.”
The MSCI Asia Pacific Index gained 1.2 percent to 119.02 as of 7:34 p.m. in Tokyo, the highest since Sept. 8, 2008. The gauge has climbed 69 percent from a more than five-year low on March 9 as stimulus measures around the world pulled economies out of recession. Stocks on the gauge are priced at an average 1.6 times book value, up from 1.03 times at the March low.
Japan’s Nikkei 225 Stock Average rose 1.7 percent as a survey showed the nation’s manufacturers turned optimistic for the first time in almost two years. Australia’s S&P/ASX 200 Index gained 1.4 percent.
Warren Buffett’s Suits
Hong Kong’s Hang Seng Index climbed 1.7 percent, led by clothing retailer Esprit Holdings Ltd., which rose 2.5 percent after Goldman Sachs Group Inc. recommended the shares. China’s Shanghai Composite Index advanced 2 percent, leading gains in the region. Dalian Dayang Trands Co. jumped 10 percent after billionaire Warren Buffett said he wears the company’s suits.
Futures on the U.S. Standard & Poor’s 500 Index added 0.2 percent. The gauge climbed 1.5 percent yesterday as the Federal Reserve reported a 0.8 percent increase in factory output last month, exceeding the median estimate of economists surveyed by Bloomberg.
Raw-material producers accounted for 18 percent of the MSCI Asia Pacific Index advance today. Increasing steel use in China and emerging markets foretell rising demand for iron ore in the future, according to Vicky Binns, BHP’s head of commodity analysis. A surge in Chinese imports of coking coal is “sustainable,” she said.
BHP added 1.5 percent to A$39.59. Mitsubishi Corp., which is the world’s largest producer of coking coal in partnership with BHP, advanced 2.8 percent to 1,980 yen. Mitsui & Co., which produces iron ore, climbed 3.2 percent to 1,251 yen.
Increased Production
China Shenhua Energy Co., the nation’s largest coal producer, rose 3.4 percent to 34.74 yuan. The company said coal output in August climbed 13.3 percent from a year earlier.
Nippon Steel rose 4.1 percent to 353 yen. The company will restart the No. 2 blast furnace at its Kimitsu mill to offset lost production from a plant failure. Nippon Steel brought one of two idled blast furnaces back into operation last month as the economy began to recover from the worst recession since World War II.
JFE Holdings Inc. rallied 5 percent to 3,390 yen. Japan’s second-largest steelmaker will restart a scrap furnace as early as next month to meet a recovery in demand, a spokesman said. The steelmaker is also considering reopening a blast furnace next year should the economy continue to pick up, the Nikkei newspaper reported.
Woodside Petroleum Ltd., Australia’s second-largest oil producer, advanced 1.5 percent to A$51.60. Aluminum Corp. of China rose 3.5 percent to HK$9.52 in Hong Kong.
Beating Estimates
Crude oil climbed 2.2 percent to $72.51 a barrel yesterday, while gold futures added 1.4 percent to a record settlement price. Copper jumped 3.2 percent in New York.
The MSCI Asia Pacific Index’s six-month rally has been driven by better-than-estimated economic reports and corporate earnings. Of 646 companies on the gauge that reported net income for the latest quarter, 226 beat analyst predictions, compared with 138 that missed.
Confidence in the world economy held at a record high in September, a Bloomberg survey of users on six continents showed, after reports suggested the recession is over and officials said they won’t rush to withdraw stimulus. The Bloomberg Professional Global Confidence Index rose to 58.54 from 58.12 in August.
“The world’s economy is continuing to improve and investor sentiment remains solid, creating resilience in global stock markets,” said Mitsushige Akino, who oversees the equivalent of $660 million at Ichiyoshi Investment Management Co. in Tokyo.
Improving Sentiment
Nissan rose 3.4 percent to 613 yen on speculation demand for its vehicles will pick up in the U.S. Toyota Motor Corp., the world’s largest automaker, added 1.9 percent to 3,780 yen.
Sentiment among large Japanese manufacturers rose to 15.5 points this quarter, the highest reading since the survey began in 2004, a joint survey by the Cabinet Office and Finance Ministry showed today. A reading above zero signals optimists outnumber pessimists.
Esprit climbed 2.5 percent to HK$50.65 after it was raised to “buy” from “neutral” at Goldman Sachs, which said more “concrete” signs of recovery in Europe and the introduction of new products may be catalysts for the stock.
Federal Reserve Chairman Ben S. Bernanke said on Sept. 15 the U.S. recession is “very likely” over, while Buffett, chairman and chief executive officer of Berkshire Hathaway Inc., said the same day his company is buying equities.
Brokerage Upgrades
Dalian Dayang jumped 10 percent to 14.67 yuan, bringing gains this week to 46 percent, as it won praise from Buffett in a video congratulating the company and Chairman Li Guilian on its 30th anniversary.
Yokogawa Electric Corp., the world’s biggest maker of electronic measuring tools, jumped 11 percent to 828 yen after Nomura Holdings Inc. boosted the stock to “neutral” from “reduce” citing a recovery in orders.
Siam Cement Pcl, Thailand’s fifth-biggest publicly traded company, added 1.3 percent to 229 baht after DBS Vickers Securities (Thailand) lifted its rating to “buy” from “fully valued,” citing an expected increase in the profit margin of its petrochemical business.
To contact the reporter for this story: Patrick Rial in Tokyo at prial@bloomberg.net; Shani Raja in Sydney at sraja4@bloomberg.net.
Last Updated: September 17, 2009 06:37 EDT
grabbed FRE 1.88/1.89
Futures
North/Latin America
INDEX VALUE CHANGE OPEN HIGH LOW TIME
DJIA INDEX 9,722.00 -3.00 9,721.00 9,779.00 9,720.00 08:31
S&P 500 1,062.00 -1.50 1,063.30 1,069.60 1,062.00 08:32
NASDAQ 100 1,716.00 -1.75 1,716.75 1,727.00 1,715.50 08:31
GM all
I have all my trading going on in a trust setup right now (except for one small account)....so it's all tax-free
I think a top world economy and superpower will have to have its major average above a psychological resistance, which I think is 10000. The djia was over it for too long to stay down now.
also, I have a bet with DC the djia sees 10500 by years end...:)
gold and commodities will continue to rise as the dollar weakens from Obama's spending
the dollar will weaken, interest rates will rise, treasuries will drop
that's why I've recommended to a few friends FCX TBT recently
also fwiw I banked 6K+ today...although took a 1K$ loss on FNM just to be all cash...