TOP NEWS
- Tokyo shares close higher after volatile day
- German Ifo index rises
- HSBC's $1.9B deal with DOJ at risk
- P&G brings back Lafley to replace McDonald
- Google mulls offer for Waze
- Sears crumbles after earnings
- Judge deals blow to Apple in e-book case
- European shares enjoy technical bounce
- Minor losses for U.S. stocks after rough open
MARKET CURRENTS
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6:30 AM UTStarcom Holdings (UTSI): Q1 EPS of $0.13. Revenue of $36.7M (-6.9% Y/Y). (PR) Comment! [Earnings, Breaking News, Tech]
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6:00 AM The costs of a U.S. Air Force heavy rocket launch program have more than doubled to $70.7B after the Pentagon added 60 more launches and extended the schedule by a decade. Lockheed (LMT) and Boeing (BA) joint venture United Launch Alliance should benefit even though the project is being opened up to competition. 1 Comment
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6:00 AM Overseas: Japan +0.89%. Hong Kong -0.23%. China +0.57%. India +0.31%. London -0.61%. Paris +0.11%. Frankfurt -0.62%. Comment!
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5:59 AM The estimated development and production costs of the F-35 fighter program have actually fallen for a change, dropping 1.1% to $391.2B as the Pentagon and Lockheed Martin (LMT) start to get a grip on a project whose expenses had soared out of control. Comment!
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5:52 AM America's Car-Mart (CRMT): FQ4 EPS of $0.92 misses by $0.03. Revenue of $125.5M beats by $6.3M. (PR) Comment! [Earnings, Breaking News]
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5:37 AM IBM (IBM) CFO Mark Loughridge has forecast that the company's earnings will rise 8% Y/Y this quarter, which would be in line with market expectations. The prediction suggests that EPS will increase to about $3.79 from $3.51 last year. Loughridge reiterated that H2 growth will be stronger, with "double-digit performance" in Q4. Meanwhile, IBM will reportedly lay off 270 people in the U.K. and Ireland. Comment! [Tech]
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5:27 AM Elan (ELN) intends to issue $850M worth of senior notes with a coupon of 6.25%. The offer for the debt, which matures in 2021, is due to close on Friday next week. The pricing of the bonds comes a day after Elan rejected a sweetened takeover bid from Royalty Pharma. Shares +0.65% premarket. (PR) Comment! [Healthcare]
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5:20 AM U.S. and Chinese regulators have signed a memorandum of understanding that gives U.S. authorities increased access to documents from Chinese audit firms. The agreement comes after scores of U.S.-listed Chinese companies faced questions over their accounting practices, with the SEC suing around a dozen for fraud and other charges. However, the new deal is limited and doesn't cover routine inspections of audit firms. 1 Comment [Global & FX]
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5:08 AM KKR (KKR) and Carlyle Group (CG) are among several investment funds that are reportedly expected to bid for shares in Panasonic's (PCRFY.OB) healthcare business, for which the Japanese conglomerate hopes to raise up to $1B. Toshiba is among the strategic investors that could make an offer. The deadline for first-round bids is Monday. Comment! [Healthcare, M&A]
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4:35 AM U.S. District Judge Denise Cote has dealt a blow to Apple (AAPL) over charges that it manipulated e-book prices, giving a "tentative view" that the Department of Justice will be able to show "direct evidence" that Apple took part in a conspiracy with publishers to raise prices. Apple is the last man standing in the case after all the publishers involved settled. The trial is due to start on June 3. 1 Comment [Tech, Consumer]
STOCKTALKS
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TOP ARTICLES6:34 AM ET FRIDAY MAY 24
PORTFOLIO
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LATEST ARTICLES
- Hedge Funds Are Buying These 3 Basic Materials Stocks With Rising Gross Margins by Kapitall • Comment!
- Amarin Stays Rangebound, Prescriptions Stagnate by Brian L. Wilson • 1 Comment
- Cramer's Lightning Round - Rentech Is A Keeper (5/23/13) by SA Editor Miriam Metzinger • Comment!
- Cramer's Mad Money - The Difference Between Hewlett-Packard and ChannelAdvisor (5/23/13) by SA Editor Miriam Metzinger • Comment!
- Vivus Heats Up, Shorts Discouraged On Possible Bidding War by Brian L. Wilson • Comment!
- 3 Latin American Small Caps Showing Signs Of Undervaluation by Kapitall • Comment!
- Nvidia CEO Thinks Cash Is Not Needed For Competition by William Meyers • Comment!
- Dividend Growth Gem Medtronic Is A Cash Cow by Valuentum • Comment!
- Mellanox: Is There A Play Here? by Ashraf Eassa • Comment!
- Intel: Busting Myths At 22 Nanometers by Ashraf Eassa • 5 Comments
ALPHA-RICH IDEAS
- Used Game Virtuous Cycle Game Over, Good Night GameStop by Josh Burwick • 16 Comments
- Lancashire Holdings, High ROEs Maintained By High Dividends by Intangible Valuation • Comment!
- Seadrill Partners: A Stable Driller With Growth Potential by Power Hedge • 6 Comments
- Why I'm Buying Multiband Hand Over Fist by Inefficient Market • 26 Comments
- Silver Bay Realty Trust: A Disaster Waiting To Happen by Josh Arnold • 78 Comments
- A Sustainable And Growing 8% Yield Is Driving NorthStar Realty Finance's Outperformance by Dane Bowler • 33 Comments
- Ryland: 2 Major Reasons Why This Homebuilder Is At Least 30% Overvalued by Money Investor • 4 Comments
- hhgregg: Gravity Will Return After A 175% Run Over The Last 6 Months by Money Investor • 19 Comments
- The Hard Money Has Been Made In Imperial Holdings by Whopper Investments • 8 Comments
- AdCare Tender Offer Looks Improbable by Benjamin Mackovak • 6 Comments
MACRO VIEW
- More Fed - It Never Ends by Tim Duy • 2 Comments
- Using The Fed As A Fig Leaf by Jeff Miller • 7 Comments
- 2 Must-Buy Stocks, What's Next For The Market by The Oxen Group • 1 Comment
- Short-Term Bearish On Brent Prices, Exciting Long-Term Energy Outlook by Shelley Lin • 4 Comments
- Is Our Corporate Tax System Irrational? by Michael Nau • 12 Comments
- A Subtle View Of Labor Market Improvement by The Federal Reserve Bank of Atlanta • Comment!
DIVIDENDS & INCOME
- Has Exelon's Dividend Cut Boosted Its Share Price? by Albert Alfonso • Comment!
- Realty Income Is Simply A Great REIT And Nowhere Close To A Bubble by Brad Thomas • 7 Comments
- BDC Risk Profiles: Part 3 - Leverage by BDC Buzz • 2 Comments
- 10% Yielding Hi-Crush Partners Too Cheap To Ignore by Bret Jensen • 4 Comments
- Bull Of The Day: Flowers Foods by Zacks Investment Research • 1 Comment
- As Ford Enhances Its North American And Asian Production, I Think Its Dividend Has Potential by Heather Ingrassia • Comment!
ETFs & PORTFOLIO STRATEGY
- Newest PIMCO Closed-End Funds Provide The Best Value by George Spritzer • 2 Comments
- Do Stock Screens Really Work? by CFA Institute Contributors • 1 Comment
- 'Tapering Talk' Is Cheap - Buy Rate-Sensitive ETFs On Significant Dips by Gary Gordon • 1 Comment
- Is SDY Still A Buy? by Mark Piro • 1 Comment
- Buy And Hold For The 21st Century Using The VIX As Your Guide by Brad Kenagy • 16 Comments
- Sell In May? Know When To Hold 'Em And When To Fold 'Em by Mark W. Bertolin • Comment!
INVESTING IDEAS
- Hedge Funds Are Buying These 3 Basic Materials Stocks With Rising Gross Margins by Kapitall • Comment!
- Cramer's Lightning Round - Rentech Is A Keeper (5/23/13) by SA Editor Miriam Metzinger • Comment!
- Cramer's Mad Money - The Difference Between Hewlett-Packard and ChannelAdvisor (5/23/13) by SA Editor Miriam Metzinger • Comment!
- General Motors: Revving Back To Success by Fund Gurus • Comment!
- Amgen: Financial Analysis And Valuation by Shankar N • Comment!
- Arena - Good Sales, Bad Sales, Long And Short by Spencer Osborne • 2 Comments